Norsemont Hits 41 Meters of 4.59 g/t Gold as Phase 3 Drilling Continues to Expand the Choquelimpie System

VANCOUVER, BC / ACCESS Newswire / September 17, 2026 / Norsemont Mining Inc. (CSE:NOM)(OTCQX:NRRSF)(FWB:LXZ1) ("Norsemont" or the "Company") reports assay results from eight additional drill holes (DD06-DD13) from the ongoing Phase 3 program at its 100%-owned Choquelimpie gold‑silver‑copper project in northern Chile. The latest results continue to demonstrate strong precious‑metal and base‑metal mineralization across multiple geological settings, reinforcing the potential for near‑surface resource potential.

Phase 3 drilling recommenced in mid‑April 2026 and is focused on testing higher‑grade hydrothermal breccia targets at depth, refining structural controls, and expanding mineralized zones beyond the current 2025 resource model. Sixteen (16) core holes have been completed in 2026, for total of 4,100 meters drilled. This release reports results for an additional eight (8) holes: MV25-DD06 through MV26-DD13.

Key Highlights

• DD13: A standout intercept of 41 meters 4.59 g/t of high-grade gold hosted in altered hydrothermal breccia, including 18m at 9.7 g/t Au. This is one of the strongest gold intervals drilled to date in the Vizcacha Zone.
• DD11: A 39 meter interval of gold, silver, and base-metal mineralization hosted within clay-alunite-sulfide altered dacite-andesite porphyry and hydrothermal breccia, including 12 meters at 2.46 g/t AuEq.
• DD10: A short but meaningful >1 g/t Au interval, with silver and zinc over-limit assays pending. Mineralization is hosted in breccias and quartz veinlets.
• DD07: Two mineralized intervals (39m and 12m) within quartz-mica-sulfide altered porphyry, expanding mineralization into an area of the 2025 resource model with no prior block grades.
• Awaiting over limit assays for several holes encountering Silver and base metals.

Management Comments

Norsemont CEO, Marc Levy commented:

"The recognition of 3 distinct styles of gold mineralization marks an important step forward in our understanding of the Choquelimpie mineral system. The high‑grade interval in DD13 of 41 meters of 4.59 g/t Au, further supports the occurrence of the Vizcacha Zone near-surface gold mineralization. Several holes have over limit re-assays pending for silver and base metals.

I'm confident that the three-dimensional modeling of this deeper gold mineralization will provide clear drill targets to evaluate the porphyry potential of the Choquelimpie mineral district further to depth. Choquelimpie continues to demonstrate scale, grade, and geological complexity consistent with major Andean mineral systems."

The Phase 3 Drill Program Technical Information

The Phase 3 drill campaign at Choquelimpie continues to successfully explore the down-dip extensions of higher-grade gold mineralization (>1 gram/tonne Au) hosted within hydrothermal breccia zones (Figure 3). Sixteen (16) core holes have been completed in 2026, for total of 4,100 meters drilled. The drill details of this program are shown on Figure 1 and Table 6. Results for an additional eight (8) holes are presented below. This includes a 41 meter intercept of 4.59 g/t gold for MMV26-DD13 - the highest-grade interval so far intersected by the Phase 3 drill program in Vizcacha.

The Phase 3 drilling has intersected gold mineralization, of the following three (3) styles, has been intersected by the:

• Hydrothermal breccia bodies with disseminated and veinlet-hosted sulfides,
• Dacite-andesite porphyry (DAP) cut by quartz + magnetite veinlets,
• Quartz-mica-sulfide (QMS) alteration zones developed on the DAP and some hydrothermal breccia bodies.

Additionally, the elevated base-metal mineralization appears to be primarily related to zones of QMS alteration.

The mineralogical relationship between the precious- and base-metal mineralization will continue to be assessed as part of metallurgical studies planned to be conducted on sulfide materials later in 2026. Also, the three-dimensional spatial relationships between the various mineral intercept types are being analyzed as additional data is received. The results of these studies, in conjunction with geological and geophysical information, provide important data points to aid in interpretation of the evolution of the Choquelimpie hydrothermal mineralizing system.

The backlog of geochemical samples in Chilean has been large June through August of this year. In addition, abnormally inclement weather in Chile during August has also negatively impacted throughput at some facilities. Accordingly, Norsemont is now submitting a portion of core samples to a second geochemical laboratory (ALS) to further decrease assay turn-around-time. Norsemont believes that much of that backlog has been relieved and that assays should be received on a regular frequency going forward.

Figure 1: Phase 3 Drill Hole Location Map

MV25-DD07

Core hole DD07 has been drilled southerly to further explore the western portion of the Choque mineral zone (Figure 1, Figure 2 & Table 6). The hole intersected two (2) mineralized intervals: an upper intercept of 39 meters and a deeper intercept of 12 meters (Table 1). The upper mineralized interval is hosted in a zone of QMS-altered DAP (Figure 3). The deeper interval, although of modest gold grade at 0.49 g/t, has elevated silver, lead and zinc values (Table 1). This hole, as can be seen in Figure 2, has been drilled through a region of the 2025 resource model where block grades have not been calculated.

Figure 2: Cross Section for MV25-DD07, DD08 & DD09

(Looking northeast)

Table 1

Note: the true thicknesses of mineralization are unknown

Figure 3: MV25-DD07, QMS-Altered DAP, 18 meters down-hole

Note: core is HQ diameter for scale

MV26-DD09

Core hole DD09 has been drilled northerly to further explore the western portion of the Choque mineral zone (Figure 1, Figure 2 & Table 6). The hole intersected 3 intervals of mineralization (Table 2). Mineralization of the upper interval is hosted in QMS- altered DAP. The middle interval intersected QMS-altered and brecciated DAP (Figure 4). Re-assays are pending for lead and zinc "overlimit" values for the middle and deeper intervals. This hole, as can be seen in Figure 2, has been drilled through a region of the 2025 resource model where block grades have not been calculated.

Table 2

Note: the true thicknesses of mineralization are unknown

Figure 4: MV26-DD09, QMS-Altered & Brecciated DAP, 114 meters down-hole

Note: core is HQ diameter for scale

MV26-DD10

Core hole DD09 has been drilled southerly to further explore the central portion of the Choque mineral zone (Figure 1, Figure 5 & Table 6). The hole intersected two (2) intervals of mineralization (Table 3). Gold is associated with moderate intensity clay-altered DAP with disseminated and veinlet-hosted pyrite in the upper zone. For the lower zone (123 - 168 meters); gold, silver and zinc mineralization is hosted in breccias and quartz veinlets (Figure 6). Re-assays are pending for silver and zinc "overlimit" values.

Figure 5: Cross Section for DD10

(Looking northeast)

Table 3

Note: the true thicknesses of mineralization are unknown

Figure 6: MV26-DD10, Breccia with Cross-Cutting Quartz Veinlets, 135 meters downhole

Note: core is HQ diameter for scale

MV26-DD11

Core hole DD11 has been drilled southerly to explore the Vizcacha Zone to depth (Figure 1, Figure 7 & Table 6). This hole intersected 39 meters of gold, silver and base-metal mineralization (Table 4), hosted in clay-alunite-sulfide altered DAP and hydrothermal breccia. This deeper extent of the hole, as can be seen in Figure 7, has been drilled through a region of the 2025 resource model where block grades have not been calculated.

Figure 7: Cross Section for DD11

(looking easterly)

Table 4

Note: the true thicknesses of mineralization are unknown

MV26-DD13

Core hole DD13 has been drilled to explore the central portion of the Vizcacha Zone to depth(Figure 1, Figure 8 & Table 6). DD13 intersected a 41 meter intercept averaging 4.59 g/t gold (Table 5): the highest grade intersected so far by the Phase 3 drill program. This 41 meter interval of high-grade gold mineralization is hosted in highly brecciated, fractured and altered hydrothermal breccia (Figure 9). The hole was abandoned at the length of 88.5 meters due to very difficult down-hole conditions.

Figure 8: Cross Section for DD13

(looking north)

Table 5

Note: the true thicknesses of mineralization are unknown

Figure 9: MV26-DD13, Altered Hydrothermal, 13.7 meters downhole

Note: core is HQ diameter for scale

Step-out Holes

Three (3) step-out holes (MV25-DD06, MV26-DD08 and MV26-DD12 (Figure 1) did not intersect a relevant zone of precious-metal or base-metals mineralization.

Table 6

Split drill core samples for the drilling are being shipped to Activation Geological Services SpA (AGS) for geochemical analysis. The samples are being prepared at the AGS facility located in Antofagasta Chile and analyzed at the AGS geochemical laboratory, located at Coquimbo, Chile. The laboratory has an ISO 17025 certification. The gold grades are being determined by fire assay (AGS code AU-FA30). Drill intervals that have some degree of oxidation are also analyzed by the cyanide-soluble gold method (AUCN). A portion of the samples are now also being sent to ALS.

The samples are also analyzed for 60 elements, including silver, by mass spectrometer (MS TD60). In addition, silver and specific base metals are re-assayed by atomic absorption spectrometry (AGS code 4ACID-AAS) for samples where the initial value for a particular element is greater than the limit of accuracy ("over-limit") for that method. The overlimit value for: silver (Ag) is 100 parts per million (ppm), copper (Cu) is 10,000 ppm, lead (Pb) is 5,000 ppm and zinc (Zn) is 10,000 ppm.

Examination of the Norsemont 2021 core drilling assay results has determined that values for multiple individual samples from that program have also been reported with over-limit values. These samples, where material remains available, will also be re-assayed according to the protocols being utilized for the Phase 3 drill program.

Standard and blank samples are being inserted at a frequency of one each for every 20 drill samples.

Gold-equivalent (AuEq) values are calculated according to the following formula: AuEq (g/t) = Au (g/t) + Ag (g/t) * Ag price/Au price * Ag recovery/Au recovery; where Au price = USD 4,000/oz, Ag price = USD 62/oz, Au rec = 88%, and Ag rec = 87% (recoveries based on historical flotation test results).

The Phase 3 exploration program is being supervised by Roman Flores, a Persona Calificada (Q.P.) with the Commission Minera Chile.

References:

Wilson, S. E., 2025, NI 43-101 Technical Report for the Choquelimpie Au-Ag Project Region 1 Chile, 115p.

Qualified Person

David Flint, MSc, AIPG-CPG, and Chief Geologist of Norsemont Mining Inc.; a qualified person as defined in NI 43-101, has reviewed and approved the technical information in this press release.

On Behalf of the Board,

NORSEMONT MINING INC.

Marc Levy
CEO & Chairman

About Norsemont Mining Inc.

Norsemont Mining is led by an experienced team of natural resource professionals focused on advancing its flagship Choquelimpie Gold-Silver-Copper project through to feasibility. The project is the basis of a Technical Report filed by the Company on May 16, 2025, and available at www.sedarplus.ca which hosts:

• Indicated Resources: 81.9 Mt @ 0.66 g/t Au (1,731,000 oz Au) and 12.6 g/t Ag (33,233,000 oz Ag), and
• Inferred Resources: 25.3 Mt @ 0.55 g/t Au (446,000 oz Au) and 8.9 g/t Ag (7,219,000 oz Ag)

Choquelimpie is a past-producing mine with over 1,720 drill holes and substantial existing infrastructure, including roads, power, water, camp facilities, and a previously operational 3,000-tpd mill. Norsemont is committed to responsible, sustainable development and modern exploration practices to unlock further value for shareholders and stakeholders.

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

Follow Norsemont Mining:
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Facebook: @norsemontmining
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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 future plans, estimates, development and advancement of the project and the creation of shareholder value.

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, permitting and regulatory risks with respect to advancement of the project, capital market risks and the ability of the Company to raise the capital necessary to fund continued advancement, risks associated with mineral exploration and development in general, risks related to fluctuating prices for gold, silver and copper, and environmental and geo-political risks.

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.

SOURCE: Norsemont Mining, Inc.

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