Norsemont provides 2025 update, appoints new CFO

Jan 12, 2026

2026-01-09 17:33 ET – News Release

Mr. Marc Levy reports

NORSEMONT PROVIDES 2025 YEAR-END UPDATE AND APPOINTS NEW CFO

Norsemont Mining Inc. has provided a corporate update highlighting 2025 milestones and upcoming initiatives at its 100-per-cent-owned Choquelimpie project in northern Chile having recently raised $15-million from new and existing strategic investors.

The Choquelimpie project is a past-producing gold-silver mine with historical heap leach production. On April 14, 2025, the company published its initial mineral resource estimate of 2,184,000 indicated gold equivalent ounces and 557,000 inferred gold equivalent ounces in oxide stockpiles and deeper sulphides. The project benefits from extensive infrastructure including power, water, road access, camp facilities and a 3,000-tonne-per-day mill. Positioning it for rapid advancement toward production. Gold equivalent (AuEq) ounces (oz) have been calculated using a gold (Au) price of $2,500 (U.S.)/oz, silver (Ag) price of $28 (U.S.)/oz and copper (Cu) price of $4.00 (U.S.)/pound; and according to the following formula: AuEq oz equals Au oz plus (oz Ag multiplied by Ag price/Au price) plus (Cu grade multiplied by Cu price/Au price).

CEO statement

Marc Levy, chief executive officer of Norsemont, commented:

“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. We are in the planning stages of a comprehensive launch of our 2026 phase 4 drill, environmental and metallurgical programs as we advance Choquelimpie toward its next stage of development. Looking ahead to 2026, our focus will shift to engineering and feasibility work, supported by continued team and board expansion. With technical leadership and our strong geological foundation, Norsemont is building a world-class team to advance this significant gold-silver-copper project.”

Development strategy

Norsemont has a two-pronged development plan.

Finalize plan to process stockpiles;
Systematically drill and expand the oxide and sulphide resources, while testing the copper porphyry potential deeper in the system.

Current work programs

To accomplish these objectives the company is doing the following:

Oxide processing:

Develop a geological model for stockpiles and in-situ oxides — in progress;
Define metallurgical characteristics of the above — in progress;
Assess state of existing plant and refurbish as necessary — in progress;
Evaluate structural controls on oxide mineralization through drilling — upcoming.

Sulphide resource:

Drill deeper high-grade targets, utilizing historical data to increase the sulphide resource — upcoming.

Copper porphyry:

Further assess the identified copper and gold porphyry systems situated below the sulphide gold mineralization — upcoming in 2026.

Key achievements in 2025:

Raised in excess of $22-million, primarily from strategic investors to finance drilling, permitting, environmental studies and metallurgical programs;
Published the company’s initial MRE resource estimate with an indicated mineral resource estimate of 1.73 million gold ounces, and 33,233,000 silver ounces, and an inferred mineral resource of 446,000 gold ounces and 7,219,000 silver ounces for Choquelimpie;
Participated and presented at Centurion One 3rd Annual Bahamas Summit;
Conducted phase 3 diamond drill program;
Expanded advisory, technical and management team with key appointments:
- David Flint — chief geologist: over 35 years of experience, including as vice-president, exploration, at Allied Nevada Gold, where he contributed to the Hycroft Mine’s reserve expansion (10 million oz Au, 450 Moz Ag). He also held a key role in the discovery and development of the Grasberg deposit during his 20 years at Freeport-McMoRan.
- Roman Flores — lead geologist, Chile: a qualified person with over 50 years of experience in Cu-Au-Ag-Fe (copper-gold-silver-iron) exploration, including senior roles at Codelco, Bema Gold, Barrick Gold and other major firms;
- Susan Liddle — appointment as general manager and chief financial officer of Norsemont’s Chilean subsidiary, Sociedad Contractual Minera Vilacollo (SCMV). She brings prior experience as CFO, risk and research manager, and head of corporate management across national and international banks and investment firms. Over the past three years with the company, she has built strong relationships with the regulators, the local community and key stakeholders;
- Carolina Morgan — environmental permitting — seasoned international project manager with extensive experience leading environmental assessments, securing complex permits, coordinating multidisciplinary teams, and managing regulatory agencies and community stakeholders for major energy and infrastructure projects;
- Charles Ross — CFO;
- Nikolas Matysek — director of business development;
- Paul Matysek — strategic adviser to the board chief executive officer.

Technical and regulatory progress

Metallurgical testing: Norsemont has engaged AGS Cotecna to conduct metallurgical assessments and support testing strategies. AGS Cotecna serves clients including Antofagasta Minerals, Enami, Teck CDA, Gold Fields Salares and others, and was recently awarded the laboratory contract for Minera Fenix (Rio2).
Permitting and environmental advisory: DAES Consultores has been retained to manage drilling approvals for 2025 and beyond, and to guide the regulatory pathway for future project development.
Plant assessment: Process Minerals Consulting and Akron Ingenieria completed a site visit from Sept. 30 to Oct. 5 to evaluate the processing plant and infrastructure.

Near-term objectives 2026 (next 12 months)

Commence 2026 phase 4 drill program in Q2:
- Norsemont’s geological team to refine and prioritize drill targets under the supervision of David Flint and Roman Flores. Planning and preparations are under way to initiate the 2026 phase 4 drilling program.
Test metallurgical samples, from stockpiles, previous drilling and announce results Q1 and continuing;
Test the identified copper and gold porphyry systems situated below the sulphide gold mineralization in Q2;
Detailed report on processing plant condition and costs to upgrade the plant in Q1;
Publish 2025 drill program results in Q1;
Expand the Norsemont team both technically and corporately in Q1;
Publish an updated National Instrument 43-101 resource estimate in Q4;
Produce a PEA (preliminary economic assessment) on the company’s existing oxide production plans in Q4;
Commencing the company’s environmental impact assessment in Q1.

Qualified person

David Flint, MSc, AIPG-CPG, a qualified person as defined in NI 43-101, has reviewed and approved the technical information in this press release.

Appointment of chief financial officer

Norsemont also announces the appointment of Charles Ross as chief financial officer. The company would like to thank Kulwant Sandher for his services as CFO and wish him success in his next endeavours.

Marketing contracts

The company is also pleased to announce it has entered into a service agreement dated Jan. 9, 2026, with Native Ads Inc., of 244 Fifth Ave., suite N-249, New York, N.Y., 10001, United States (1-877-773-3540), to provide investor awareness and promotional services, subject to approval by the Canadian Securities Exchange (the CSE). The campaign is expected to commence in the first quarter of 2026 and continue for a term of up to 12 months, or until the approved budget is fully expended. The principal of Native Ads is Jon Malach.

Under the agreement, Native Ads will conduct a digital media and content distribution campaign intended to increase awareness and understanding of the company and its efforts. The campaign will include digital advertising across search engines, financial publications, and financial websites. The company has approved a budget of up to $200,000 (U.S.) for these services.

The agreement contains no performance-based factors, and Native Ads will not receive any equity as compensation. Native Ads and the company are unrelated and unaffiliated entities, and at the time of the agreement, neither Native Ads nor its principals hold any direct or indirect interest in the securities of the company.

The company further announces that it has entered into a service agreement with Street Scope Media LLC. dated Jan. 9, 2026, of 7901 4th St. N. STE 300, St Petersburg, Fla., 33702, United States (321-441-6545 or [email protected]), pursuant to which Street Scope will provide a marketing campaign for a total retainer of up to $200,000 (U.S.), with a term of up to six months or until the retainer is depleted. Under the agreement, Street Scope will execute a comprehensive digital media advertising campaign for the company, where the majority of the campaign budget will be allocated to cost-per-click costs, media buying and content distribution, and search engine marketing. The remaining budget will be allocated for content creation, Web development, advertising creative development, search engine optimization, campaign optimization, and reporting and data insights services. Street Scope and its principals are Scott Study and Joshua Cranmer and they are arm’s length to the company and hold no interest, directly or indirectly, in the securities of the company or any right to acquire such an interest. The engagement of Street Scope is subject to the approval of the CSE.

The company further announces that it has entered into a service agreement with Goldinvest Consulting GmbH, a company headquartered in Hamburg, Germany, dedicated to digital marketing services. The cost of the services provided by Goldinvest is 35,000 euros for an eight-month term that will commence on Jan. 15, 2026, the agreement between Goldinvest and the company does not automatically renew. Goldinvest can be reached at 49-171-99-65-380 or [email protected]. Goldinvest and the company are unrelated and unaffiliated entities. Goldinvest will provide marketing services to the company that include the production of editorials relating the company’s noteworthy news updates, aggregation of in-house and external comments, articles, interviews, research, and papers relating to the company on Goldinvest ‘s website, and the publication of interviews and other videos about the company on Goldinvest’s website and YouTube channel. Goldinvest currently holds 50,000 common shares and 25,000 warrants in the company.

About Norsemont Mining Inc.

The Norsemont team comprises experienced natural resource professionals focused on growing shareholder value and developing its flagship project through to feasibility, with an indicated mineral resource estimate of 1.73 million gold ounces, and 33,233,000 silver ounces, and an inferred mineral resource of 446,000 gold ounces and 7,219,000 silver 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 past-producing gold and silver mine with significant exploration upside. Choquelimpie has over 1,710 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/