Norsemont Drilling Program Update at Choquelimpie

Executive Summary

• Norsemont Mining announced completion of the first diamond drill hole (MV25‑DD01) and commencement of two additional holes (MV25‑DD02, MV25‑DD03) as part of its up‑to‑5,000 m Phase 3 program at the 100 % owned Choquelimpie project in northern Chile.
• The initial hole intersected the targeted Vizcacha hydrothermal breccia to a depth of 300 m, with moderate‑to‑strong pyrite mineralization and silica‑pyrite/enargite veinlets; assay results are pending.
• Holes MV25‑DD02 and MV25‑DD03 have been collared and are drilling toward deeper extensions of higher‑grade gold zones, including the Choque Zone below the 2025 resource model’s indicated grades.

Key Details

• Phase 3 Program Scope: Up to 20 drill holes averaging ~250 m each (≈5,000 m total), using two truck‑mounted rigs (Golden Bear 1400 and CSK C1500) on a 24‑hour schedule.
• Hole MV25‑DD01:
• Collared at E473,285 / N7,975,980, elevation 4,694 m; azimuth 275°, inclination 70°.
• Completed to 300 m depth; intersected Vizcacha hydrothermal breccia with 1–7 % pyrite and silica‑pyrite/enargite veinlets from 180 m to end of hole.
• Assays pending.
• Hole MV25‑DD02:
• Collared at same station as DD01; azimuth 180°, inclination 80°, design depth 225 m.
• Currently intersecting Vizcacha breccia with disseminated and veinlet sulfides.
• Hole MV25‑DD03:
• Collared at E472,622 / N7,975,811, elevation 4,735 m; azimuth — , inclination — , design depth 275 m.
• Targets the Choque Zone below higher‑grade zones identified in the 2025 resource model; expected to intersect a modeled hydrothermal breccia body.
• Drilling Contractor: DV Drilling Ltd. (Coquimbo, Chile) operating both rigs.
• Core Processing & Assay: Core prepared at Activation Geological Services SpA (Antofagasta) and analyzed at AGS laboratory (Coquimbo), ISO 17025 certified.
• Downhole Survey Method: Device Gyroscope employed by DV Drilling.
• Supervision: Roman Flores, Persona Calificada (Q.P.) with the Comisión Minera Chile.
• Qualified Person Review: David Flint, MSc, AIPG‑CPG, Chief Geologist, Norsemont Mining Inc., has reviewed and approved all technical information.

Notable Quotes

“With the second and third diamond drill holes now in progress at Choquelimpie utilizing 2 drill rigs, we are rapidly advancing what we believe could be a transformative Phase 3 drill program… we look forward to further updating shareholders as drilling continues and results become available.” – Marc Levy, CEO & Chairman

Materiality Assessment: Material – Positive (the announcement details the commencement of a significant exploration program that could materially affect future resource estimates and shareholder value).