ORIGINAL: Norsemont Announces Closing of 3rd Tranche of Private Placement Led by Crescat Capital and Equity Management Associates

Aug 25, 2025

2025-08-25 09:00 ET – News Release

(via TheNewswire)

News Release – Vancouver, British Columbia – TheNewswire – August 25 th , 2025 – Norsemont Mining Inc. (CSE: NOM, OTCQB: NRRSF, FWB: LXZ1) (“ NOM ” or the “ Company ”) is pleased to announce that Crescat Capital led this strategic round and further to its news release dated August 1, 2025, it has closed the second tranche of a non-brokered private placement consisting of 1,985,834 units of the Company at CAD $0.60 per unit for gross proceeds of CAD $1,191,500.40 (the “ Offering ”). Each Unit will consist of one common share and one-half of one Warrant. Each Warrant entitles the holder to acquire one common share at a price of CAD $0.75 per common share for a period of two years from the date of closing (the “ Warrants ”). To date, the Company has raised aggregate gross proceeds of $5,479,199.40 under the three tranches of the Offering.

In the event that the Company’s common shares close at a price on the Exchange of CAD $1.25 or greater per common share for a period of 10 consecutive trading days after four months and one day from the closing of the Offering, the Company may accelerate the expiry of the 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 ten (10th) business day after the date of such notice. For Canadian investors, there is a hold period of four months and one day from the issuance of the Units. For United States investors they will additionally be subject to hold periods as required by applicable federal and “blue sky” securities laws.

The proceeds of the Offering are anticipated to be used for phase 3 drill programs which will include DDH deep 600m holes into copper porphyry zone, 300m drill holes into high grade gold zones and shallow holes into oxide / leachable gold zone, metallurgy and general working capital, in order to advance the Choquelimpie Gold-Silver-Copper project in Northern Chile.

The Offerings are subject to compliance with CSE policies.

“Closing over $5.4 million and the strategic support of Crescat Capital , Larry Lepard and Rob McEwen strongly endorses our vision and the upside of the Choquelimpie project. Their backing positions Norsemont to advance drilling, metallurgy, and engineering, and to unlock significant value for all stakeholders.,” said Marc Levy, CEO of Norsemont.

“Norsemont’s Choquelimpie Project is a massive mineralizing system in the far north of Chile, a region well-endowed with very large ore deposits. Although a small part of the uppermost epithermal portion of this system was mined historically, its exploration potential largely remains intact making this a particularly compelling case. I feel very strongly that a well-focused, sustained drill campaign can quickly add significant additions to the already large Au and Ag resources. One also must ask the obvious question of whether there is potential for a large porphyry discovery beneath. In short, we are very excited to be part of this story as Norsemont’s sophisticated exploration team uncovers the potential of this world class porphyry-epithermal system.,” said Dr. Quinton Hennigh, Geologic and Technical Advisor to Crescat Capital.

“Norsemont’s Choquelimpie Gold-Silver-Copper project has the scale, potential, and infrastructure to create significant value. Chile has proven to be an excellent mining jurisdiction with a history of successful large-scale projects going into production. I’m excited to back the team as a strategic shareholder and support them in unlocking this world-class opportunity for all shareholders.,” said Lawrence Lepard, Managing Partner at Equity Management Associates LLC.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “ U.S. Securities Act “) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

On Behalf of the Board,

NORSEMONT MINING INC.

Marc Levy

CEO & Chairman

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% 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.

For more information, please contact the Company at:
Investor Relations:

Paul Searle (778) 240-7724

Follow Norsemont Mining:
Twitter:  @norsemont
LinkedIn:  @norsemontmining
Facebook:  @norsemontmining

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things, the Offering and entry into the marketing agreements.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the Company not receiving the necessary regulatory approvals in respect of the Offering and marketing agreements contemplated herein and, with respect to the Offering, risks adverse to the capital markets, the mining industry, and investor support. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will receive the necessary regulatory approvals and receive market interest to close the Offering on the terms herein.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, except as required by applicable securities laws.

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