Norsemont Announces Closing of Warrant Financing from Strategic Investors

(TheNewswire)

Vancouver, British Columbia – TheNewswire - October 2, 2025 –Norsemont Mining Inc. (CSE: NOM, OTC: NRRSF, FWB: LXZ1)(“ NOM ” or the “ Company ”) is pleasedto announce that, further to its September 26, 2025 news release, ithas closed a non-brokered private placement of 3,500,000 sharepurchase warrants (each, a “ Warrant ”) of the Company at an issue priceof CAD $0.10 per Warrant for gross proceeds of CAD $350,000 (the“ Offering ”).  Each Warrant has an exercise price of CAD $0.59 perWarrant (which, upon exercise, will result in a total cost of CAD$0.69 per common share).  If all Warrants issued in the Offering areduly exercised by holders, it will result in an additional $2,065,000in proceeds being raised by the Company.

Each Warrant entitles the holder to purchase one commonshare in the capital of the Company (each, a “ Share ”) at a priceof CAD $0.59 per Share for a period of five years from the closing ofthe Offering, provided that if the Shares have a closing price on theCanadian Securities Exchange (the “ CSE ”) (or suchother securities exchange on which the Shares may be traded at suchtime) of CAD $1.00 or greater per Share for a period of 10 consecutivetrading days at any time after four months and one day from theClosing, then the Company may accelerate the expiry of any outstandingWarrants by giving notice to the holders thereof (by disseminating anews release advising of the acceleration of the expiry date of theWarrants) and, in such case, the Warrants will expire on the tenth(10th) business day after the date of such notice.

The proceeds of the Offering are anticipated to be usedfor general working capital purposes and mineral exploration of theChoquelimpie Gold-Silver-Copper project.

More information regarding the Offering is available inthe Company’s Form 9 posted under the Company’s profile on the CSEwebsite. All Warrants, and any Shares issued on the due exercise ofthe Warrants, are subject to a restricted period of four months andone day from closing of the Offering.

This news release does not constitute an offer to sellor a solicitation of an offer to buy any of the securities in theUnited States. The securities offered have not been and will not beregistered under the United States Securities Act of 1933, asamended (the “ U.S.Securities Act ”) or any state securities lawsand may not be offered or sold within the United States or to, or forthe account or benefit of, U.S. persons unless registered under theU.S. Securities Act and applicable state securities laws, unless anexemption 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 naturalresource professionals focused on growing shareholder value anddeveloping its flagship project through to bankable feasibility, withan initial mineral resourceestimate of 2,184,000 indicatedgold equivalent ounces and 557,000 inferred gold equivalent ounces for its Choquelimpie Gold-Silver-Copperproject. Norsemont Mining owns a 100% interest in the Choquelimpiegold-silver-copper project in northern Chile, a previously permittedgold and silver mine with significant exploration upside. Choquelimpiehas 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 resourcedevelopment, leveraging modern exploration techniques to unlockfurther value for all stakeholders.

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

Paul Searle (778) 240-7724

Follow NorsemontMining:
Twitter: @norsemont
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Neither the Canadian SecuritiesExchange nor its Regulation Services Provider (as that term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy or accuracy of this release. No stockexchange, securities commission or other regulatory authority hasapproved or disapproved the information contained herein.

Forward-LookingStatements

Cautionary Note RegardingForward-Looking Statements: This release includes certain statementsand information that may constitute forward-looking information withinthe meaning of applicable Canadian securities laws. Forward-lookingstatements relate to future events or future performance and reflectthe expectations or beliefs of management of the Company regardingfuture events. Generally, forward-looking statements and informationcan be identified by the use of forward-looking terminology such as"intends" or "anticipates", or variations of suchwords and phrases or statements that certain actions, events orresults "may", "could", "should","would" or "occur". This information and thesestatements, referred to herein as "forward?lookingstatements", are not historical facts, are made as of the date ofthis news release and include without limitation, statements regardingdiscussions of future plans, estimates and forecasts and statements asto management's expectations and intentions with respect to,among other things, the Offering and entry into the marketingagreements.

These forward?looking statementsinvolve numerous risks and uncertainties, and actual results mightdiffer materially from results suggested in any forward-lookingstatements. These risks and uncertainties include, among other things,the Company not receiving the necessary regulatory approvals inrespect of the Offering and marketing agreements contemplated hereinand, with respect to the Offering, risks adverse to the capitalmarkets, the mining industry, and investor support. In making theforward-looking statements in this news release, the Company hasapplied several material assumptions, including without limitation,that the Company will receive the necessary regulatory approvals andreceive market interest to close the Offering on the termsherein.

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

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