Norsemont Provides Corporate Update and Clarifies Information Regarding its Choquelimpie Gold-Silver-Copper Project

Core Viewpoint - Norsemont Mining Inc. aims to clarify misinformation regarding its Choquelimpie gold-silver-copper project in northern Chile, emphasizing the project's strong fundamentals and legal compliance [1][8]. Project Development - The company plans to advance the Choquelimpie project through further exploration for gold oxide and sulfide mineralization, as well as copper porphyry potential [2]. - Upcoming drilling and exploration activities are anticipated to be updated this quarter [2]. Metallurgical Results - Latest metallurgical results indicate gold recovery rates between 33.0% and 89.8%, influenced by the sulfide content in samples [2]. - Historical heap leach operations (1988-1992) recovered approximately 400,000 ounces of gold and 2.1 million ounces of silver, with gold recoveries generally between 75% and 80% [2]. Operational Framework - The project operates within the Las Vicuñas National Reserve, where mining and exploration activities are legally permitted under specific governmental authorizations [3][4]. - The project holds two key permits: an exploitation permit covering 417 hectares and an exploration permit for an adjacent 650 hectares, both granted through presidential decrees [4]. Community Engagement - The project has established positive relationships with the local population, maintaining respectful interactions and contracts for land use [7]. - The company prioritizes open communication and mutual understanding with local stakeholders as development progresses [7]. Technical Report - The Technical Report for the Choquelimpie project, effective March 31, 2025, complies with NI 43-101 standards and is available on the company's website [9]. - Qualified persons have reviewed and approved the scientific and technical information presented in the report [10][11]. Company Overview - Norsemont Mining holds a 100% interest in the Choquelimpie project, which has an initial mineral resource estimate of 2,184,000 indicated AuEq ounces and 557,000 inferred AuEq ounces [12]. - The project features significant existing infrastructure, including roads, power, water, camp, and a 3,000-tonne-per-day mill [12].