First Drill Hole Commenced and Second Drill Rig has Arrived at Choquelimpie Project

Core Viewpoint - Norsemont Mining Inc. has commenced its Phase 3 exploration drill program at the Choquelimpie project in northern Chile, targeting higher-grade gold mineralization in the Vizcacha hydrothermal breccia [1][3]. Phase 3 Drill Program - The Phase 3 program will involve up to 5,000 meters of diamond drilling using two drill rigs, with drilling expected to continue through late December [1]. - The program aims to evaluate down-dip extensions of high-grade gold mineralization, consisting of up to 20 holes averaging 250 meters in length [4]. - The first hole, MV25-DD01, has been collared at an elevation of 4,694 meters, oriented at an azimuth of 275 degrees, inclined at 70 degrees, with a target depth of 225 meters [6][8]. Management Insights - CEO Marc Levy expressed excitement about the potential for higher-grade gold zones at depth beneath the current resource, emphasizing the significance of the first hole in testing previously indicated higher-grade mineralization [3]. - The company is nearing completion of an engineering report for a 3,000 TPD plant and plans to update its near-term production strategy this quarter [3]. Technical Oversight - The Phase 3 exploration program is supervised by Roman Flores, a qualified person with the Commission Minera Chile [7]. - Drill core samples will be assayed at Activation Geological Services SpA, an ISO 17025 certified laboratory in Coquimbo, Chile [5]. Company Background - Norsemont Mining owns a 100% interest in the Choquelimpie gold-silver-copper project, which has over 143,000 meters drilled across 1,710 drill holes and significant existing infrastructure [13]. - The company is focused on responsible and sustainable resource development, leveraging modern exploration techniques to enhance shareholder value [13].