Norsemont Mining Secures Final $600,000 Tranche from Paul Matysek, Totaling Over $6 Million in Private Placement

Norsemont Mining Inc. has completed the final tranche of its non-brokered private placement, with strategic investor Paul Matysek participating in an additional round of financing. The company issued 1,000,000 units at CAD $0.60 per unit, generating gross proceeds of CAD $600,000. Each unit consists of one common share and one-half of one warrant, with each full warrant enabling the holder to acquire one common share at CAD $0.75 for two years from the closing date.

The offering has now raised aggregate gross proceeds of $6,079,199.40, with participation from notable industry figures including Rob McEwen, Crescat Capital, Dr. Quinton Hennigh, and Larry Lepard. The warrants include an acceleration clause: if the company's common shares close at CAD $1.25 or higher for 10 consecutive trading days after four months and one day from closing, Norsemont may accelerate the warrant expiry to 10 business days after notice. Canadian investors face a four-month hold period, while U.S. investors are subject to additional federal and state securities law restrictions.

Proceeds from the offering are earmarked for a phase 3 drill program at the Choquelimpie gold-silver-copper project in northern Chile. Funding will support drilling targeting the copper porphyry zone, high-grade gold zones, oxide/leachable gold zone, and metallurgy studies, alongside general working capital. The project, located in a region known for major ore deposits, boasts an initial mineral resource estimate of 2,184,000 indicated gold equivalent ounces and 557,000 inferred gold equivalent ounces.

CEO Marc Levy emphasized that the financing, backed by industry leaders, endorses Norsemont's vision and the significant upside at Choquelimpie, positioning the company to advance drilling, metallurgy, and engineering toward production. Paul Matysek highlighted the project's untapped potential, noting that a disciplined drill campaign could rapidly expand resources and position Choquelimpie for near-term production in a strong gold market. The offering complies with CSE policies, and securities are not registered under the U.S. Securities Act, restricting offers or sales within the United States without registration or exemption.