Norsemont collars hole MV25-DD01 at Choquelimpie

Nov 21, 2025

2025-11-20 18:13 ET – News Release

Mr. Marc Levy reports

FIRST DRILL HOLE COMMENCED AND SECOND DRILL RIG HAS ARRIVED AT CHOQUELIMPIE PROJECT

The initial diamond drill hole of Norsemont Mining Inc.’s phase 3 exploration drill program at the 100-per-cent-owned Choquelimpie high-sulphidation gold-silver-copper project in northern Chile has collared. This hole is targeting higher-grade gold mineralization hosted in the Vizcacha hydrothermal breccia. The phase 3 program will comprise up to 5,000 metres (m) of diamond drilling (DDH) utilizing two diamond drill rigs, with drilling scheduled to continue through late December.

Highlights:

Diamond drill hole MV25-DD01 has collared, targeting higher-grade gold mineralization hosted in the Vizcacha hydrothermal breccia.
The hole is oriented at an azimuth of 275 degrees, inclined at 70 degrees, and has a target depth of 225 metres.
MV25-DD01 has been designed to explore the Vizcacha zone to depth, below the area where grades have been calculated within the April, 2025, resource model.

Management comments

Norsemont chief executive officer Marc Levy commented:

“We are very excited to collar the first hole of the phase 3 drilling program at Choquelimpie, where our recent work has highlighted significant potential for higher-grade gold zones at depth beneath the current resource and along strike. This potential high-impact hole will test previously indicated higher-grade mineralization hosted in the Vizcacha hydrothermal breccia. We are also nearing completion of the engineering report on our 3,000 tpd plant and expect to deliver a update on our near-term production strategy this quarter.”

The phase 3 drill program

The phase 3 drill campaign at Choquelimpie is designed to evaluate downdip extensions of high-grade gold mineralization hosted within hydrothermal breccia zones. The program will comprise up to 20 holes averaging 250 metres in length.

Norsemont, through its wholly owned Chilean subsidiary, SCM Vilacollo, has engaged DV Drilling Ltd., of Coquimbo, Chile, to conduct the phase 3 exploration program. DV Drilling is operating a Longyear LF230 truck-mounted diamond drill rig, on a 24-hour schedule.

Drill core will be assayed at Activation Geological Services SpA (AGS) geochemical laboratory, located at Coquimbo, Chile. The laboratory has an ISO 17025 certification.

Hole MV25-DD01 has been collared at co-ordinates of E473,285, N7,975,980 and an elevation of 4,694 metres. The hole is oriented at an azimuth of 275 degrees, inclined at 70 degrees and has a target depth of 225 metres.

This first hole of the phase 3 program is expected to intersect the higher-grade Vizcacha hydrothermal breccia. Historical exploration of the Vizcacha deposit has primarily consisted of multiple shallow rotary drill holes. MV25-DD01 has been designed to explore Vizcacha to depth.

The phase 3 exploration program is being supervised by Roman Flores, a persona calificada (QP) with the Commission Minera Chile.

Qualified person

David Flint, MSc, AIPG-CPG, chief geologist of Norsemont Mining, a qualified person as defined in National Instrument 43-101, has reviewed and approved the technical information in this news release.

About Norsemont Mining Inc.

The Norsemont team comprises experienced natural resource professionals focused on growing shareholder value and developing its flagship project through to bankable feasibility, with an initial mineral resource estimate released in April, 2025, for its Choquelimpie gold-silver-copper project. Norsemont Mining owns a 100-per-cent interest in the Choquelimpie gold-silver-copper project in northern Chile, a past-producing gold and silver mine with significant exploration upside. Choquelimpie has over 143,000 metres drilled in 1,710 drill holes, with significant existing infrastructure, including roads, power, water, camp and a 3,000-tonne-per-day (tpd) mill. Norsemont is committed to responsible and sustainable resource development, leveraging modern exploration techniques to unlock further value for all stakeholders.

We seek Safe Harbor.

https://norsemont.com/