Norsemont Mining Inc. Announces Closing of 2nd Tranche of Private Placement Led by Rob McEwen and Other Strategic Investors
NORSEMONT MINING INC.
Suite 1120, 789 West Pender Street
Vancouver, BC, V6C 1H2
Phone: 778-240-7724
NORSEMONT ANNOUNCES CLOSING OF 2nd TRANCHE OF
PRIVATE PLACEMENT LED BY ROB MCEWEN AND OTHER
STRATEGIC INVESTORS
News Release - Vancouver, BriƟsh Columbia, August 18 th, 2025 – Norsemont Mining Inc. (CSE:
NOM, OTCQB: NRRSF, FWB: LXZ1) (“ NOM” or the “ Company”) is pleased to announce that
legendary mining investor Rob McEwen, Chairman and Chief Owner of McEwen Inc. (TSX: MUX,
NYSE: MUX) led this strategic round and further to its news release dated August 1, 2025, it has
closed the second tranche of a non- brokered private placement consisƟng of 2,320,000 units of
the Company at CAD $0.60 per unit for gross proceeds of CAD $1,392,000 (the “ Offering”). Each
Unit will consist of one common share and one- half of one Warrant. Each Warrant en Ɵtles the
holder to acquire one common share at a price of CAD $0.75 per common share for a period of
two years from the date of closing (the “Warrants”).
In the event that the Company’s common shares close at a price on the Exchange of CAD $1.25
or greater per common share for a period of 10 consecutive trading days after four months and
one day from the closing of the Offering, 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 the Warrants) and, in such case, the Warrants will expire on
the ten (10th) business day after the date of such notice. For Canadian investors, there is a hold
period of four months and one day from the issuance of the Units. For United States investors
they will addiƟonally be subject to hold periods as required by applicable federal and “blue sky”
securiƟes laws.
The Company paid aggregate finder’s fees of $68,060 (excluding GST) and issued 109,433 finder
warrants (each, a “Finder Warrant”) to eligible finders in connec Ɵon with the first 2 tranches of
the offering. The Finder Warrants enƟtle the holder to purchase one addi Ɵonal (Warrant Share)
at an exercise price $0.75 per Warrant Share for a period of 2 years following closing.
The proceeds of the Offering are anƟcipated to be used for phase 3 drill programs which will
include DDH deep 600m holes into copper porphyry zone, 300m drill holes into high grade gold
zones and shallow holes into oxide / leachable gold zone, metallurgy and general working capital,
in order to advance the Choquelimpie Gold-Silver-Copper project in Northern Chile.
The Offerings are subject to compliance with CSE policies.
"We are deeply honoured and privileged to gain the support of legendary mining entrepreneur
and investor Rob McEwen, and we are excited to welcome him as a strategic shareholder in
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Norsemont. His commitment is a strong endorsement of our vision and provides valuable
resources to advance the Choquelimpie Project through our upcoming drilling and technical
programs, posiƟoning us to conƟnue delivering value for all s takeholders.," said Marc Levy, CEO
of Norsemont.
“I’m pleased to become a strategic shareholder in Norsemont Mining as they advance the
Choquelimpie Project in Chile. The project’s scale, geological potenƟal, and exisƟng infrastructure
provide an excellent foundaƟon for value creaƟon. I look forward to supporƟng the team as they
work to unlock Choquelimpie’s full poten Ɵal for the benefit of all shareholders.,” said Rob
McEwen, Chairman and Chief Owner of McEwen Inc. (TSX: MUX, NYSE: MUX).
This news release does not consƟtute an offer to sell or a solicitaƟon of an offer to buy any of the
securiƟes in the United States. The securi Ɵes offered have not been and will not be registered
under the United States Securi Ɵes Act of 1933, as amended (the “ U.S. SecuriƟes Act“) or any
state securiƟes laws and may not be offered or sold within the United States or to, or for the
account or benefit of, U.S. persons unless registered under the U.S. SecuriƟes Act and applicable
state securiƟes laws, unless an exempƟon from such registraƟon is available.
On Behalf of the Board,
NORSEMONT MINING INC.
Marc Levy
CEO & Chairman
About Norsemont Mining Inc.
The Norsemont team comprises experienced natural resource professionals focused on growing
shareholder value and developing its flagship project through to bankable feasibility, with an
initial mineral resource estimate of 2,184,000 indicated gold equivalent ounces
and 557,000 inferred gold equivalent ounces for its Choquelimpie Gold-Silver-Copper project.
Norsemont Mining owns a 100% interest in the Choquelimpie gold-silver-copper project in
northern Chile, a previously permitted gold and silver mine with significant exploration upside.
Choquelimpie has over 1,700 drill holes, with significant existing infrastructure, including roads,
power, water, camp and a 3,000-tonne-per-day mill. Norsemont is committed to responsible and
sustainable resource development, leveraging modern exploration techniques to unlock further
value for all stakeholders.
For more information, please contact the Company at:
Investor Relations:
Paul Searle (778) 240-7724
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
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this release. No stock exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.
Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and
information that may constitute forward-looking information within the meaning of applicable Canadian
securities laws. Forward-looking statements relate to future events or future performance and reflect the
expectations or beliefs of management of the Company regarding future events. Generally, forward-
looking statements and information can be identified by the use of forward-looking terminology such as
"intends" or "anticipates", or variations of such words and phrases or statements that certain actions,
events or results "may", "could", "should", "would" or "occur". This information and these statements,
referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this
news release and include without limitation, statements regarding discussions of future plans, estimates
and forecasts and statements as to management's expectations and intentions with respect to, among
other things, the Offering and entry into the marketing agreements.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ
materially from results suggested in any forward-looking statements. These risks and uncertainties
include, among other things, the Company not receiving the necessary regulatory approvals in respect of
the Offering and marketing agreements contemplated herein and, with respect to the Offering, risks
adverse to the capital markets, the mining industry, and investor support. In making the forward-looking
statements in this news release, the Company has applied several material assumptions, including without
limitation, that the Company will receive the necessary regulatory approvals and receive market interest
to close the Offering on the terms herein.
Although management of the Company has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking statements or forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and forward-looking information. Readers are
cautioned that reliance on such information may not be appropriate for other purposes. The Company
does not undertake to update any forward-looking statement, except as required by applicable securities
laws.