Norsemont Mining Inc. Provides Corporate Update
NORSEMONT MINING INC.
Suite 1120, 789 West Pender Street
Vancouver, BC, V6C 1H2
Phone: 778-240-7724
NORSEMONT PROVIDES CORPORATE UPDATE AND ADDITIONS TO
THE TEAM
Vancouver, B.C., October 21, 2025 – Norsemont Mining Inc. (CSE: NOM, OTC: NRRSF, FWB:
LXZ1) (“Norsemont” or the “Company”) is pleased to provide a corporate update highlighting
recent milestones and upcoming initiatives at its 100%-owned Choquelimpie project in northern
Chile having recently raised $6 million from strategic investors.
The Choquelimpie project is a past-producing gold-silver mine with historical heap leach
production. On April 14, 2025, the Company published its initial mineral resource estimate of
2,184,000 indicated gold-equivalent ounces and 557,000 inferred gold equivalent ounces in
oxide stockpiles and deeper sulfides. The project benefits from extensive infrastructure including
power, water, road access, camp facilities, and a 3,000 tonne-per-day mill positioning it for rapid
advancement toward production and cash flow.
Development Strategy
Norsemont has a two-pronged development plan.
1) Process stockpiles to drive initial positive cash flow.
2) Systematically drill and expand the oxide and sulfide resources, while testing the copper
porphyry potential deeper in the system.
Current Work Programs
To accomplish these objectives the Company is doing the following:
Oxide processing:
• Develop a geological model for stockpiles and in-situ oxides – In progress
• Define metallurgical characteristics of the above – In progress
• Assess state of existing plant and refurbish as necessary – In progress
• Evaluate structural controls on oxide mineralization through drilling – up coming
Sulphide resource:
• Drill deeper high-grade targets, utilizing historical data to increase the sulphide resource
– up coming
Copper porphyry:
• Further assess the identified copper and gold porphyry systems situated below the
sulphide gold mineralization – up coming
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Key Achievements to Date
• Raised $6 million to fund drilling and metallurgical programs from strategic investors.
• Expanded technical and management team with key appointments:
o David Flint – Chief Geologist: Over 35 years of experience, including as VP
Exploration at Allied Nevada Gold, where he contributed to the Hycroft Mine’s
reserve expansion (10M oz Au, 450M oz Ag). He also played a key role in the
discovery and development of the Grasberg Deposit during his 20 years at
Freeport-McMoRan.
o Roman Flores – Lead Geologist, Chile: A Qualified Person with over 50 years of
experience in Cu-Au-Ag-Fe exploration, including senior roles at Codelco, Bema
Gold, Barrick Gold and other major firms.
o Susan Liddle – appointment as General Manager & CFO, Norsemont Chilean
subsidiary, Sociedad Contractual Minera Vilacollo (SCMV). She previously held
roles of CFO, Risk and Research Manager and Head of Corporate Management at
various national and international banks and investment companies. Working
with the Company she has built strong relationships with the regulators, local
community and stakeholders over the past three years.
Technical and Regulator y Progress
• Metallurgical Testing: Norsemont has engaged AGS Cotecna (www.agslab.cl) to
conduct metallurgical assessments and support testing strategies. AGS Cotecna serves
clients including Antofagasta Minerals, Enami, T eck CDA, Gold Fields Salares, and others,
and was recently awarded the laboratory contract for Minera Fénix (Rio2).
• Permitting and Environmental Advisory: DAES Consultores (www.daesconsultores.cl)
has been retained to manage drilling approvals for 2025 and beyond, and to guide the
regulatory pathway for future production operations.
• Plant Assessment: Process Minerals Consulting (PMC) (www.processminerals.cl) and
Akron Ingeniería (www.akron.cl ) completed a site visit from September 30–October 5 to
evaluate the processing plant and infrastructure.
Near-Term Objectives (Next 6 Months)
• Commence 2025 Phase 3 drill program
o Norsemont’s geological team refined and prioritized drill targets under the
supervision of David Flint and Roman Flores. Quotations from drilling and
analytical contractors have been received, and preparations are underway to
initiate the 2025 drilling program.
• Test metallurgical samples, from stockpiles, previous drilling and announce results
• Report on processing plant condition
• Publish 2025 drill program results
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• Expand the Norsemont team both technically and corporately
Team at lunch
Engineer inspecting plant
Qualified Person
David Flint, MSc, AIPG-CPG, a qualified person as defined in NI 43-101, has reviewed and
approved the technical information in this press release.
CEO Statement
Marc Levy, CEO of Norsemont, commented:
“We are excited to launch our 2025 drill and metallurgical programs as we advance
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Choquelimpie toward its next stage of development. Looking ahead to 2026, our focus will shift
to engineering and feasibility work, supported by continued team expansion. With Mijael
Thiele’s technical leadership and our strong geological foundation, Norsemont is building a
world-class team to advance this significant gold-silver-copper project both with resource
expansion and towards near-term production.”
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 past producing 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: [email protected]
Investor Relations: Paul Searle (778) 240-7724
Follow Norsemont Mining:
Twitter: @norsemont
LinkedIn: @norsemontmining
Facebook: @norsemontmining
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.
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
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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.