Norsemont Announces $10 Miillion Financing With Strategic Investors

(TheNewswire)

Vancouver, B.C., December 8 , 2025 – Norsemont Mining Inc.(CSE: NOM, OTC: NRRSF, FWB: LXZ1) ( “ Norsemont ” or the “ Company ”) is pleased to announce it isundertaking a CAD$10 million non­brokered private placement ofunsecured convertible debenture units of the Company (each, a“ Convertible DebentureUnit ”) with an overallotment of up to 30% ofthe offering (the “ Offering ”). EachConvertible Debenture Unit is comprised of one convertible debenturein the principal amount of US$1,000 per debenture (each, a“ ConvertibleDebenture ”), with each Convertible Debentureand all accrued and unpaid interest thereon convertible into commonshares of the Company (each, a “ Conversion Share ”)at a conversion price of CAD$0.86 per Conversion Share (the“ ConversionPrice ”), and 802 transferable common sharepurchase warrants (each, a “ Warrant ”), with each Warrant entitling theholder thereof to purchase one common share (a “ Warrant Share ”) ata price of CAD$1.00 per Warrant Share for a period ofthree years from the closing date of the Offering (the “ Closing Date ”),subject to acceleration rights for both the Convertible Debentures andthe Warrants. The Convertible Debentures bearinterest at a rate of 5.25% per annum with a maturity date of threeyears from the Closing Date (the “ Maturity Date ”).Additionally, the Convertible Debentures includes a gold purchaseright whereby, upon commercial production and for a period of one yearfrom commercial production, the subscriber may purchase gold from theCompany at a fixed price of US$3,000 per ounce, up to the subscriptionamount of the subscriber.

The Company anticipates closing the financing onDecember 17, 2025, subject to the standard five-day notice periodrequired by the Canadian Securities Exchange (the “ Exchange ”).

At any time after the date that is four months and oneday after the Closing Date, if, for at least 10 consecutive tradingdays, the closing price of the common shares of the Company (each, a“ Common Share ”) on the Exchange for each day during such period exceeds CAD$3.00 per Common Share, then the Company may issue a notice by public newsrelease (the “ DebentureForced Conversion Notice ”) to the holders toautomatically convert the Convertible Debentures together with allaccrued and unpaid interest thereon into Common Shares on the datewhich is 10 days after the date of the Debenture Forced ConversionNotice (the “ ForcedConversion Date ”). All of the ConvertibleDebentures and accrued but unpaid interest thereon will automaticallyconvert into Common Shares at the Conversion Price on the ForcedConversion Date.

In the event that the Common Shares close at a price onthe Exchange of CAD$1.75 or greater per Common Share for aperiod of 10 consecutive trading days after four months and one dayfrom the Closing Date, the Company may accelerate the expiry of theWarrants by giving notice to the holders thereof by public newsrelease and, in such case, the Warrants will expire on the 10thbusiness day after the date of such notice.

All securities issued in connection with the Offeringwill be subject to a restricted period of four months and oneday.

The proceeds of the Offering are anticipated to be usedfor general working capital purposes and mineral exploration andadvancement of the Company’s Choquelimpie Gold-Silver-Copperproject.

Norsemont CEO Marc Levy commented, “With thisproposed financing, and upon the closing thereof, we anticipate wewill be well-positioned to advance next year’s drill program andcomplete our proposed stockpile preliminary economic assessment.Importantly, our long-term European and offshore strategic investorshave signaled their intent to continue supporting the company withfuture capital.”

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 feasibility, with an indicated mineral resource estimate of 1,731,000 goldounces, and 33,233,000 silver ounces and an inferred mineral resourceof 446,000 gold ounces and 7,219,000 silver ounces for its Choquelimpie Gold-Silver-Copper project. Norsemont Miningowns a 100% interest in the Choquelimpie gold-silver-copper project innorthern Chile, a past producing gold and silver mine with explorationupside. Choquelimpie has over 1,710 drill holes, with significantexisting infrastructure, including roads, power, water, camp and a3,000-tonne-per-day mill. Norsemont is committed to responsible andsustainable resource development, leveraging modern explorationtechniques to unlock further value for all stakeholders.

For more information, please contact the Company at: psearle@norsemont.com
Investor Relations: Paul Searle (778) 240-7724

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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 regardingthe closing of the Offering; the use of proceeds of the Offering;future plans with respect to advancement of the Company’s project;and the anticipated closing date of the Offering.

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 sufficient investor interest to close theOffering; receipt of the necessary regulatory approvals in respect ofthe Offering and, with respect to the Offering, risks adverse to thecapital markets, the mining industry, and investor support. In makingthe forward-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. TheCompany does not undertake to update any forward-looking statement,except as required by applicable securities laws.

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