Norsemont Announces Non-Brokered Private Placement

Core Viewpoint - Norsemont Mining Inc. is initiating a non-brokered private placement to raise up to CAD $3,500,000 for advancing its Choquelimpie Gold-Silver-Copper project in Northern Chile [1][3] Group 1: Private Placement Details - The company plans to issue up to seven million units at a price of CAD $0.60 (USD $0.44) per unit, with each unit consisting of one common share and one-half of one warrant [1] - The warrants will allow holders to purchase one common share at CAD $0.75 (USD $0.55) for two years from the closing date [1] - The first tranche of CAD $2,000,000 is expected to close on August 11, 2025, pending a five-day notice period [1] Group 2: Use of Proceeds - Proceeds from the offering will be allocated to phase 3 drill programs, including deep drilling into copper porphyry zones and high-grade gold zones, as well as general working capital [3] Group 3: Investor Relations and Marketing - The company has engaged Danayi Capital Corp. for investor relations and digital marketing services for a fee of USD $50,000 for one month, with a potential six-month extension [5][6] - Additionally, a marketing services agreement has been established with Altura Media Co Inc. for CAD $20,000 per month, starting August 15, 2025, with options for extension [7] Group 4: Project Overview - Norsemont Mining owns a 100% interest in the Choquelimpie project, which has an initial mineral resource estimate of 2,184,000 indicated gold equivalent ounces and 557,000 inferred gold equivalent ounces [10] - The project includes over 1,700 drill holes and significant existing infrastructure, such as roads, power, water, and a 3,000-tonne-per-day mill [10]