Norsemont Drilling Program Update at Choquelimpie

Executive Summary

• Norsemont Mining completed the first seven of twenty planned Phase 3 drill holes (≈1,650 m) at Choquelimpie, delivering initial assay data and confirming extensions of higher‑grade gold zones.
• Weather‑related “Altiplano Winter” has delayed further drilling; resumption is expected in April 2026 to finish the 5,000 m Phase 3 program.
• The company engaged i2i Marketing Group for a six‑month shareholder communications contract valued at US$300,000.

Key Details

• Phase 3 Completion: 7 DDH holes (≈1,650 m) finished; total Phase 3 target = 20 holes, 5,000 m.
• Assay Status: Initial results received for two holes (DD‑01 and DD‑02); additional partial results pending; full assay set expected later this quarter.
• Key Intersections:
• DD‑01: Intersected Vizcacha hydrothermal breccia; notable sulfide mineralization.
• DD‑02: 239 m hole, continuous Vizcacha breccia to 145 m depth; deeper dacite‑andesite porphyry with up to 20 % sulfides.
• DD‑03: 275 m hole explored Choque Zone; intersected argillic‑altered DAP and hydrothermal breccia, oxidized over 12.5 m.
• DD‑04: 200 m hole; upper dacite‑andesite porphyry, followed by breccia with pyrite matrix and 5–10 % sulfides to 200 m.
• DD‑05: 221 m hole; hydrothermal breccia bodies containing 10–20 % total sulfides (including enargite).
• DD‑06: 225 m hole; dacite‑andesite breccia and hydrothermal breccia with 7–10 % sulfides; potential larger breccia extent.
• Laboratory Work: Samples shipped to Activation Geological Services (AGS) for fire‑assay Au, cyanide‑soluble Au, and multi‑element MS analysis (60 elements). Over‑limit values re‑assayed by atomic absorption (Ag > 100 ppm, Cu > 10,000 ppm, Pb > 5,000 ppm, Zn > 10,000 ppm).
• Weather Impact: “Altiplano Winter” forced a pause; drilling slated to resume in April 2026.
• Future Plans: Phase 4 program planning underway for 2026; aims to further delineate high‑grade zones and expand open‑pit resource.
• Marketing Contract: i2i Marketing Group LLC engaged for content creation, author sourcing, project management, and media distribution; six‑month term starting ~Mar 2 2026; cash consideration US$300,000 with extension option.

Notable Quotes

“We are excited that the 2025 drilling at Choquelimpie has intersected higher‑grade hydrothermal breccia bodies at depth, boosting confidence in expanding the open‑pit resource…” – Marc Levy, CEO & Chairman

Materiality Assessment: Material – Positive (the drill results provide substantive new information on mineralization extensions and impact future resource development).