Norsemont Capital Inc. Announces Closing of First Tranche of Non-Brokered Private Placement

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NEWS RELEASE

NORSEMONT CAPITAL INC. CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Vancouver, B.C., May 29, 2019 – Norsemont Capital Inc. (CSE: NOM, OTC: NRRSF, FWB: LXZ1) (“Norsemont” or the “Company”) is pleased to announce it has closed the first tranche of a non-brokered private placement issuing a total of 1,104,667 units (a “Unit”) at a price of $0.30 per Unit for gross proceeds of $331,400.10 (the “Private Placement”).

Each Unit consisted of one common share in the capital of the Company (each, a “Share”) and one-half of one transferable common share purchase warrants (a “One-Half Warrant” and each whole warrant, a “Warrant”).

The Warrant entitles the holder thereof to acquire one Share (each, a “Warrant Share”) at a price of $0.40 per Warrant Share until 5:00 p.m. (Vancouver time) on or before May 27, 2020, subject to an acceleration provision whereby if the common shares of the Company trade at a price on the Canadian Securities Exchange (or such other exchange on which the common shares may be traded at such time) (the “Exchange”) of $0.60 or greater per Share for a period of 10 consecutive trading days after four months and one day from the closing of the Offering (the “Closing”), the Company may accelerate the expiry of the Warrants by giving notice to the holders thereof (by disseminating a news release advising of the acceleration of the expiry date of Warrants) and, in such case, the Warrants will expire on the 31st day after the date of such notice.

Proceeds from the Private Placement will be used for general working capital, corporate and administrative purposes.

The securities distributed pursuant to the Private Placement are subject to a statutory hold period of four months and one day that expires on September 28, 2019. No fees were paid in connection to this Private Placement.

On behalf of the Board of Directors,

NORSEMONT CAPITAL INC.

Al Larmour Chief Executive Officer, Director

For more information, please contact the Company at:

Telephone: (604) 669-9788 Facsimile: (604) 669-9768

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.