Norsemont Mining arranges $350,000 private placement

Oct 3, 2025

2025-09-26 16:04 ET – News Release

Mr. Marc Levy reports

NORSEMONT ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF WARRANTS

Norsemont Mining Inc. is undertaking a non brokered private placement of up to 3.5 million warrants of the company at an issuance price of 10 cents per warrant and an exercise price of 59 cents per warrant (for a total cost of 69 cents per share) for gross initial proceeds on closing of up to $350,000. The offering is anticipated to close on Oct. 3, 2025, subject to the standard five-day notice period required by the Canadian Securities Exchange.

Each warrant will entitle the holder to purchase one common share in the capital of the company at a price of 59 cents per share for a period of five years from the closing of the offering, provided that, if the shares have a closing price on the CSE (or such other securities exchange on which the shares may be traded at such time) of $1 or greater per share for a period of 10 consecutive trading days at any time after four months and one day from the closing, then the company may accelerate the expiry of any outstanding warrants by giving notice to the holders thereof (by disseminating a news release advising of the acceleration of the expiry date of the warrants) and, in such case, the warrants will expire on the 10th business day after the date of such notice.

The proceeds of the offering are anticipated to be used for general working capital purposes and mineral exploration of the Choquelimpie gold-silver-copper project.

The offering is subject to compliance with CSE policies. All warrants and any shares issued on the due exercise of the warrants will be subject to a restricted period of four months and one day from the closing of the offering.

The company also announces a grant of 790,000 stock options and 600,000 restricted share units to certain directors and officers of the company under its omnibus equity incentive plan. Each stock option is exercisable at 98 cents per share for a period of five years and vests as follows quarterly over two years.

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 of 2,184,000 indicated gold equivalent ounces and 557,000 inferred gold equivalent ounces 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 previously permitted gold and silver mine with significant exploration upside. Choquelimpie has over 1,700 drill holes, with significant existing infrastructure, including roads, power, water, camp and a 3,000-tonne-per-day 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/