Vancouver, B.C., March 2nd, 2026 – Norsemont Mining Inc. (CSE:NOM, OTC:NRRSF, FWB:LXZ1)(“Norsemont” or the “Company”) is pleased to announce it has engaged DAES Consultores (www.daesconsultores.cl) to complete an Environmental Impact Declaration (Declaración de Impacto Ambiental) (“EID”) by December 2026 for its Choquelimpie gold-silver-copper project in northern Chile. The primary focus of the EID is to assist the Company through the regulatory pathway for future project development. Biologists are currently at the project site and the initial focus is on biological characterizations (terrestrial fauna, flora and vegetation). Three additional visits are planned for the remainder of the year.

Carolina Morgan is the head of Environmental Permitting for the Company and is a seasoned international project manager with extensive experience leading environmental assessments, securing permits, coordinating multidisciplinary teams, and managing regulatory agencies and community stakeholders for major energy and infrastructure projects. Ms. Morgan is leading the Company’s internal environmental team and coordinating efforts with DAES in the delivery of the EID.

Between March and November 2026, the Company intends to conduct and complete following assessments as part of the EID:

• Cultural Heritage Characterization: surface archaeological and paleontological surveys;
• Landscape Characterization Studies;
• Atmospheric Emissions Estimation
• Air Quality Modeling;
• Traffic Impact Assessment (TIA): Study of effects on road networks;
• Human Environment Characterization: Social baseline study;
• Land Use and Land Tenure Characterization;
• Hydrological and Hydrogeological Study;
• Geomorphological Hazard and Risk Assessment;
• Soil and Pedological Study;
• Tourism Component Study; and
• Protected Areas and Priority Conservation Sites.

The Environmental Impact Declaration is scheduled to be completed by December 2026.

Management Comments

Norsemont CEO, Marc Levy commented, “We are very pleased to be working with DAES and Ms. Morgan to complete this important regulatory step in the advancement of the Company’s flagship property. We believe this will be a transformative year for the Company as we advance towards obtaining regulatory approvals for processing existing stockpiles on the property while we continue to systematically drill and expand the oxide and sulfide resources, while testing the copper porphyry potential deeper in the system.”

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.

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 1,731,000 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% 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.

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

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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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