VANCOUVER, BC / ACCESS Newswire / September 1, 2026 / Norsemont Mining Inc. (CSE:NOM)(OTCQX:NRRSF)(FWB:LXZ1) ("Norsemont" or the "Company") is pleased to announce an update on our 2026 Phase 3 drill program. Sixteen (16) holes, for a total of 4,100 meters (Figure 1 & Table 1), have been drilled year-to-date on the Choquelimpie project. These holes have been designed to both step-out and offset from identified mineralized intercepts.

Management Comments

Norsemont CEO, Marc Levy commented:

"In the August 28th news release, the Company announced a restatement of certain financial statements related to the accounting treatment of its December 2025 convertible debentures, due December 2028, shifting it from long‑term to short‑term liability. The accounting adjustments do not affect the Company's cash position of $13,677,089 as of June 30, 2026. Norsemont remains well funded, drilling is progressing well and we anticipate assay results to be released shortly."

Highlights

• Norsemont has completed 16 drill holes totaling 4,100 meters so far in 2026, expanding work across five key zones at Choquelimpie.

• Early drilling has helped outline the edges of several hydrothermal breccia bodies and mineral zones, giving the team a clearer picture of where the strongest mineralization is likely to continue.

• Multiple gold‑bearing styles have been confirmed, including Hydrothermal breccias, Porphyry‑related quartz ± magnetite veinlets and Quartz‑mica‑sulfide alteration zones.

• Base‑metal mineralization is present in the quartz‑mica‑sulfide zones, adding another potential value component to the system.

• DD‑24 is underway, offsetting from known mineralization, targeting an extension between the Choque and Vizcacha Zones.

• Assays are pending for the 16 holes and expected to be meaningful catalysts once released.

• Metallurgical and 3D geological studies are planned for later in 2026 which management believes will help refine the precious‑ and base‑metal relationships across the system.

Drill Program Update

The 2026 drill program has targeted, throughout the Choquelimpie Project area (Figure 1 and Table 1), step-out holes beyond the limits of known mineralization plus offsets to mineralized holes previously drilled. Hole MV26-DD24 (drilling northerly) is currently in progress from the same platform as DD21, exploring the region between the Choque and Vizcacha Zones. Assays from the Phase 3 2026 drilling program will be reported once available.

Figure 1

Table 1

Some early 2026 holes appear to have defined the limits for individual hydrothermal breccia bodies and mineral zones, providing the geological team insight for future resource expansion targeting.

The Phase 3 exploration program is being managed 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)

• 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:
Twitter: @norsemont
LinkedIn: @norsemontmining
Facebook: @norsemontmining
YouTube: @norsemontmining

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, release of assays results and the timing thereof, future exploration and anticipated results from assay results and future prospects of mineralization.

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.