Vancouver, B.C. - TheNewswire - November 4, 2024 – Norsemont Mining Inc. (CSE: NOM, OTC: NRRSF, FWB: LXZ1) (“Norsemont” or the “Company”) is pleased to announce the appointment of Mijael Thiele to the Company’s Board of Directors effective immediately.

Mr. Thiele is a senior mining executive with 30 years of experience in managing major mining assets and leading complex strategic projects. He has promoted innovative and transformative solutions in the industry, holding leadership roles in large-scale projects and overseeing significant copper, gold and molybdenum operations.

In 2016, he made a strategic transition into management consulting and board roles for mining and mining related companies. Leveraging his extensive real-world experience, strong analytical skills and support from a team of highly trained consultants, he delivers unique, value-added advisory services to boards and executive teams.

Mr. Thiele spearheaded, in record time, the development of the USD $2.7 billion greenfield Esperanza megaproject, a 100,000 tpd copper-gold operation, taking it from exploration to commercial production in just six years and setting benchmarks in safety, Capex, and development time. In addition to designing and building the project, he was also responsible for establishing the new company as an independent operation for Antofgasta Minerals. This involved creating all foundational elements, including vision, mission, values, ESG frameworks, and building, hiring, and training the entire operations team. Serving as CEO, he effectively set up the new mining operation from the ground up.  Esperanza became the first operation of its kind to utilize 100% seawater (without desalination), implement thickened tailings, and run an integrated control center spanning mine operations, plant, pipeline, and port.

Mr. Thiele also managed one of Anglo American's most complex operations, the Los Bronces copper mine, for 3 years as VP of Operations and General Manager. Under his leadership, the mine achieved continuous improvements in safety performance, exceeded production targets, and maintained costs consistently within budget.

Marc Levy, CEO of Norsemont, said, “We continue to build a world-class mining team with significant engineering and management experience on large scale porphyry copper and gold projects. Mijael’s insights, expertise, and knowledge will be invaluable in moving our dumps through feasibility stages and our main Choquelimpie gold-silver-copper asset forward. We are thrilled to have Mijael on board and look forward to the achievements that lie ahead.”

The Company also announces that, pursuant to its equity incentive plan, it has granted to directors and officers 750,000 stock options to purchase 750,000 common shares of the Company at a price of $0.30 per share for a period of five years.

The Company also wishes to announce that it has formed a partnership with Senergy Communications Capital Inc. (“Senergy”), (address: 1122 Mainland St., Suite 228, Vancouver, B.C., V6B 5L1; e-mail: info@senergy.capital) a digital marketing firm that will provide marketing campaigns, strategic communication and advertising with the goal of increasing awareness of the Company and its Choquelimpie project. This collaboration is set to enhance Norsemont's visibility and bolster the strategic growth initiatives of the Company.  Senergy has been retained for an initial term of two months (the “Term”) with an anticipated start date of December 1st, 2024, for a fee of $120,000. The Term may be extended by mutual written consent of the parties. The services provided by Senergy will include, but not be limited to, digital advertising, media program management and co-ordination, e-mail marketing, shareholder engagement reports, and social media analytics reports.

The Company will not issue any securities to Senergy as compensation for its services. Senergy is not related to Norsemont, and to the Company's knowledge, Senergy and its principal, Aleem Fidai, do not own any securities of the Company. The agreement with Senergy is subject to the policies of the Canadian Securities Exchange.  

About Norsemont Mining Inc.

Norsemont comprises experienced natural resource professionals focused on growing shareholder value and developing its flagship project through to bankable feasibility. Norsemont Mining owns a 100-percent interest in the Choquelimpie gold-silver-copper project in northern Chile, a previously permitted gold and silver mine. Choquelimpie has over 1,710 drill holes, with significant existing infrastructure, including roads, power, water, camp and a 3,000-tonne-per-day mill.

On behalf of the Board of Directors,

NORSEMONT MINING INC.

Marc Levy

CEO & Chairman

Investor Relations:

Paul Searle  (778) 240-7724

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.  

Forward-Looking Statements

Certain statements made, and information contained herein may constitute “forward looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “speculates”, “could” or “would”.

All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward–looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.