Norsemont Mining Provides Corporate Update and Highlights 2025 Milestones

Vancouver, B.C. — January 9, 2026 — Leads & Copy — Norsemont Mining Inc. (CSE: NOM, OTC: NRRSF, FWB: LXZ1) has announced a corporate update highlighting milestones from 2025 and outlining upcoming initiatives for its Choquelimpie project in northern Chile, which is wholly owned by the company. The project recently secured $15 million through investments from both new and existing strategic investors.

The Choquelimpie project, a past-producing gold-silver mine with a history of heap leach production, published its initial mineral resource estimate on April 14, 2025. The estimate includes 2,184,000 indicated gold-equivalent ounces and 557,000 inferred gold-equivalent ounces found in oxide stockpiles and deeper sulfides. The project benefits from established infrastructure, including power, water, road access, camp facilities, and a 3,000 tonne-per-day mill, facilitating rapid progress towards production.

Gold-Equivalent (AuEq) ounces (oz) have been calculated using a gold (Au) price of US$2,500/oz, silver (Ag) price of US$28/oz and copper (Cu) price of US$4.00/pound; and according to the following formula: AuEq oz = Au oz + (ozAg*AgPrice/AuPrice) + (CuGrade*CuPrice/AuPrice).

According to Marc Levy, CEO of Norsemont, the company is well-capitalized to advance the Choquelimpie project towards an expanded resource and future production. Planning is underway for a comprehensive launch of the 2026 Phase 4 drill, environmental, and metallurgical programs.

Looking ahead to 2026, Norsemont will focus on engineering and feasibility work, supported by continued expansion of its team and board. The company aims to build a world-class team to advance this significant gold-silver-copper project, leveraging its technical leadership and geological foundation.

Norsemont is pursuing a two-pronged development plan:

1. Finalizing a plan to process stockpiles.
2. Systematically drilling and expanding the oxide and sulfide resources, while also assessing the copper porphyry potential deeper in the system.

The company is currently engaged in the following work programs to achieve these objectives:

Oxide processing:

• Developing a geological model for stockpiles and in-situ oxides.
• Defining metallurgical characteristics.
• Assessing and refurbishing the existing plant as needed.
• Evaluating structural controls on oxide mineralization through drilling.

Sulfide resource:

• Drilling deeper high-grade targets, utilizing historical data to increase the sulfide resource.

Copper porphyry:

• Further assessing the identified copper and gold porphyry systems situated below the sulfide gold mineralization, planned for 2026.

Key achievements in 2025 include:

• Raising over $22 million, primarily from strategic investors, to fund drilling, permitting, environmental studies, and metallurgical programs.
• Publishing an initial mineral resource estimate with an indicated mineral resource estimate of 1,730,000 gold ounces, and 33,233,000 silver ounces and an inferred mineral resource of 446,000 gold ounces and 7,219,000 silver ounces for Choquelimpie.
• Participating and presenting at the Centurion One 3rd Annual Bahamas Summit.
• Conducting a Phase 3 diamond drill program.
• Expanding the advisory, technical, and management team. Key appointments include: David Flint as Chief Geologist; Roman Flores as Lead Geologist, Chile; Susan Liddle as General Manager CFO of Norsemont’s Chilean subsidiary; Carolina Morgan focusing on Environmental Permitting; Charles Ross as CFO; Nikolas Matysek as Director of Business Development; and Paul Matysek as Strategic Advisor to the board CEO.

Norsemont has engaged AGS Cotecna for metallurgical assessments and DAES Consultores to manage drilling approvals and guide regulatory pathways. Process Minerals Consulting (PMC) and Akron Ingeniería completed a site visit to evaluate the processing plant and infrastructure.

Near-term objectives for 2026 include:

• Commencing the 2026 Phase 4 drill program in Q2.
• Refining and prioritizing drill targets under the supervision of David Flint and Roman Flores.
• Testing metallurgical samples and announcing results in Q1 and ongoing.
• Testing the identified copper and gold porphyry systems in Q2.
• Publishing a detailed report on processing plant condition and costs to upgrade the plant in Q1.
• Publishing 2025 drill program results in Q1.
• Expanding the Norsemont team in Q1.
• Publishing an updated 43-101 resource estimate in Q4.
• Producing a PEA on existing oxide production plans in Q4.
• Commencing the Environmental Impact Assessment in Q1.

Charles Ross has been appointed as Chief Financial Officer, replacing Kulwant Sandher.

Norsemont has also entered into service agreements with Native Ads Inc., Street Scope Media LLC, and Goldinvest Consulting GmbH for investor awareness and marketing services. The engagements with Native Ads and Street Scope are subject to the approval of the CSE.

Investor Relations: Paul Searle (778) 240-7724, psearle@norsemont.com

Marc Levy
CEO & Chairman

Source: Norsemont Mining Inc.

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