Norsemont to Commence Geophysics and Provides an Update on Progress at Its Choquelimpie Gold-silver Project

VANCOUVER, British Columbia, June 01, 2021 (GLOBE NEWSWIRE) — Norsemont Mining Inc. (CSE: NOM, OTCQB: NRRSF, FWB: LXZ1) (“Norsemont” or the “Company”) is pleased to announce it is commencing a geophysical survey and provides an update to its shareholders on the Choquelimpie gold-silver Project (“the Project”), located within the Province of Parinacota in Region XV of northern Chile. The former producing mine is located approximately 115 kilometers east-northeast of the coastal city and port of Arica. Norsemont holds a 100% ownership interest in the Project, through its wholly owned Chilean subsidiary Sociedad Contractual Minera Vilacollo, (“SCM Vilacollo”).

Despite challenging conditions due to Covid-19, Norsemont continues to make excellent progress across a number of fronts and has made significant progress toward a drilling program, as well as the pending issuance of its first official NI-43-101 resource estimate.

The early focus on developing a comprehensive database has required the digitization and validation of extensive archives containing historic material and is on-going.

Field workers are strictly observing COVID-19 protocols. In order to support a NI 43-101 Resource report in the coming months, Norsemont has embarked on a major re-assaying program, to confirm historic data and provide additional quality assurance and control. Samples have been taken from drill holes across the property that reflect different mineralized zones, oxidation states and media type (DDH core / RC cuttings). To date, roughly 9,500 of an estimated 16,000 samples have been submitted for re-analysis.

Norsemont has engaged SouthernRock Geophysics (“SG”) of Antofagasta, Chile to complete Induced Polarization/Resistivity (“PDIP”) and Magneto-Telluric (“MT”) geophysical surveys over the Project area. The survey line plan considers eleven 250 meter-spaced survey lines up to 2.6 km each, adjusted where necessary due to topographic relief and permit areas. Every second line, for a total of 13.7 line-km, will be acquired using PDIP-MT every 500 metres with five intervening lines with MT only for 11.8 km. The anticipated date to mobilize crews to site is June 5th, 2021. The objective of the survey is to cost-effectively characterize the mineral system in 3D and potentially identify lateral and vertical extensions to current mineralized zones.

Meetings have been held virtually with multiple stakeholders including representatives from the Governors offices of Arica and Parinacota, Municipalities of Arica, Putre and Camarones; plus representatives from various government agencies – SEREMI (Regional Mines Ministry), SEA (Environmental Assessment), SERNAGEOMIN (Geology and Mining), SAG (Agriculture), CONAF (National Forest), DGA (Water) and local communities to ensure plans are communicated and feedback provided ahead of any activities. This consultation will continue on a regular basis.

DAES Consultores, a leading firm in Environmental & Permitting matters in Chile, is developing strategies and documentation to support the 2021 technical program. Weather stations are being re-established and water samples are systematically being collected to provide seasonal baseline data. This important data compilation provides the company with the basic information required, to meet the long lead environmental planning requirements in order to support future advanced work.

Marc Levy, CEO of Norsemont said, “Our team is on the ground and making solid progress and building momentum for our anticipated drilling program, subject to permitting, and delivering our initial NI 43-101 compliant resource.”

Norsemont’s VP Exploration in Chile, John Currie, states that; “Building a solid, transparent working relationship with all Government Agencies, Municipalities, Mines Ministries and local Indigenous Communities, is an essential part of our immediate and future plans for a harmonious and successful evaluation of this precious metals Project.”

The information in this press release has been reviewed and approved by Mr. Art Freeze, P. Geo., and a Qualified Person for the technical information under NI 43-101 standards.

On behalf of the Board of Directors,
NORSEMONT MINING INC.

Marc Levy
CEO & Chairman

For more information, please contact the Company at:
Telephone: (604) 669-9788; Facsimile: (604) 669-9768

Forward-Looking Information

This release includes certain statements that are deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that Norsemont expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include changes to commodity prices, mine and metallurgical recovery, operating and capital costs, foreign exchange rates, ability to obtain required permits on a timely basis, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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.

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