Norsemont Provides 2025 Year-End Update and Appoints New CFO

Executive Summary

• Norsemont Mining raised over $22 million from strategic investors to fund drilling, permitting, environmental studies and metallurgical programs.
• Published an initial mineral resource estimate for Choquelimpie (≈1.73 M gold oz indicated + 33.2 M silver oz; inferred 0.446 M gold oz + 7.22 M silver oz).
• Announced multiple new marketing service agreements totaling up to US$600,000 and several senior‑team appointments, including a new CFO (Charles Ross) and chief geologist (David Flint).

Key Details

• Funding: $22 M+ raised in 2025, primarily from strategic investors; additional $15 M recently raised (total disclosed capital > $37 M).
• Resource Estimate (April 14 2025):
• Indicated: 1,730,000 gold oz & 33,233,000 silver oz.
• Inferred: 446,000 gold oz & 7,219,000 silver oz.
• Calculated using Au = US$2,500/oz, Ag = US$28/oz, Cu = US$4.00/lb.
• Development Plan: Two‑pronged – (1) finalize oxide stockpile processing plan; (2) drill & expand oxide/sulfide resources and test deeper copper porphyry potential.
• Current Work Programs (2025–2026):
• Oxide processing: geological modeling, metallurgical testing, plant assessment, structural controls drilling (upcoming).
• Sulfide resource expansion: deeper high‑grade target drilling (upcoming).
• Copper porphyry evaluation: studies slated for 2026.
• Key Achievements 2025:
• Completed Phase 3 diamond drill program.
• Presented at Centurion One 3rd Annual Bahamas Summit.
• Expanded advisory, technical and management team (see appointments below).
• Management/Appointments:
• David Flint – Chief Geologist.
• Roman Flores – Lead Geologist, Chile.
• Susan Liddle – General Manager/CFO of Chilean subsidiary (SCMV).
• Carolina Morgan – Environmental Permitting lead.
• Charles Ross – CFO (replacing Kulwant Sandher).
• Nikolas Matysek – Director of Business Development.
• Paul Matysek – Strategic Advisor to the Board/CEO.
• Technical & Regulatory Progress:
• Metallurgical testing contracted to AGS Cotecna.
• Permitting support from DAES Consultores.
• Plant condition assessment by Process Minerals Consulting and Akron Ingeniería (site visit Sep 30–Oct 5).
• Near‑Term Objectives 2026 (next 12 months):
• Commence Phase 4 drill program in Q2.
• Publish 2025 drill results (Q1) and updated NI 43‑101 resource estimate (Q4).
• Produce Preliminary Economic Assessment (PEA) on oxide production plans (Q4).
• Complete Environmental Impact Assessment (Q1).
• Detailed plant condition & upgrade cost report (Q1).
• Marketing Contracts (effective Jan 9 2026):
• Native Ads Inc.: up to US$200,000 for digital media campaign (≤12 months).
• Street Scope Media LLC: up to US$200,000 retainer for comprehensive digital advertising (≤6 months).
• Goldinvest Consulting GmbH: EUR 35,000 for eight‑month editorial & content services; holds 50,000 common shares and 25,000 warrants.

Notable Quotes

• Marc Levy, CEO: “We are pleased to end the year with the necessary capital on hand to advance the next stages of Choquelimpie towards an expanded resource and future production… Our focus will shift to engineering and feasibility work, supported by continued team and board expansion.”