Norsemont Mining Secures Final $600,000 Tranche from Paul Matysek, Bringing Total Financing to Over $6 Million for Chile Project

Norsemont Mining Inc. has completed the final tranche of its non-brokered private placement with strategic investor Paul Matysek participating in an additional round of financing. The company raised CAD $600,000 through the issuance of 1,000,000 units at CAD $0.60 per unit, bringing aggregate gross proceeds to $6,079,199.40 under the offering. Each unit consists of one common share and one-half of one warrant, with each full warrant entitling the holder to acquire one common share at CAD $0.75 for two years from closing.

The financing represents a significant endorsement from prominent mining industry figures including Rob McEwen, Crescat Capital, Dr. Quinton Hennigh, Larry Lepard, and now Paul Matysek. According to CEO Marc Levy, this backing positions Norsemont to advance drilling, metallurgy, and engineering toward a production scenario that can unlock substantial value for all stakeholders. The proceeds are anticipated to fund a phase 3 drill program at the Choquelimpie Gold-Silver-Copper project in Northern Chile, targeting the copper porphyry zone, high-grade gold zones, oxide/leachable gold zone, and metallurgy work, plus general working capital.

Paul Matysek emphasized the significance of the Choquelimpie Project, noting that it represents a major mineralized system in northern Chile, a region known for hosting some of the world's largest ore deposits. He stated that while only a small portion of the upper epithermal system was historically mined, the broader potential along strike and at depth remains virtually untouched. Matysek believes a disciplined drill campaign can rapidly expand the already substantial gold and silver resources while positioning Choquelimpie for near-term production in a strong gold market.

The warrants include an acceleration clause whereby if the company's common shares close at CAD $1.25 or greater for 10 consecutive trading days after four months and one day from closing, the company may accelerate the expiry date. Canadian investors face a standard four-month hold period, while United States investors are subject to additional hold periods under applicable federal and state securities laws. The offerings remain subject to compliance with CSE policies, and the securities have not been registered under the United States Securities Act of 1933, meaning they cannot be offered or sold within the United States without registration or applicable exemption.