Norsemont Mining Completes $6 Million Financing to Advance Choquelimpie Gold-Silver-Copper Project

Norsemont Mining Inc. has completed the final tranche of its private placement financing with strategic investor Paul Matysek, raising an additional CAD $600,000 through the issuance of 1,000,000 units at CAD $0.60 per unit. Each unit consists of one common share and one-half warrant, with full warrants exercisable at CAD $0.75 per share for two years from closing. The company has now raised aggregate gross proceeds of $6,079,199.40 through this offering, positioning it for significant advancement of its flagship project.

The financing proceeds are earmarked for a phase 3 drill program at the Choquelimpie Gold-Silver-Copper project in Northern Chile. According to the company, funds will support drilling targeting the copper porphyry zone, high-grade gold zones, oxide/leachable gold zone, and metallurgy work, along with general working capital requirements. The project represents a significant mineralized system in a region known for hosting world-class ore deposits, making this financing crucial for unlocking its full potential.

CEO Marc Levy stated that closing over $6 million with support from strategic industry leaders including Rob McEwen, Crescat Capital, Dr. Quinton Hennigh, Larry Lepard, and now Paul Matysek represents a powerful endorsement of the company's vision and the significant upside potential at Choquelimpie. The backing positions Norsemont to advance drilling, metallurgy, and engineering toward a production scenario that could unlock substantial value for stakeholders in the current favorable market conditions.

Paul Matysek, the strategic investor participating in this final tranche, emphasized the project's potential, noting that while only a small portion of the upper epithermal system was historically mined, the broader potential along strike and at depth remains virtually untouched. He expressed confidence that a disciplined drill campaign could rapidly expand the already substantial gold and silver resources while positioning Choquelimpie for near-term production in a strong gold market. The project benefits from existing infrastructure including roads, power, water, camp facilities, and a 3,000-tonne-per-day mill, which significantly reduces development timelines and costs.

The financing is subject to standard hold periods, with Canadian investors facing a four-month and one-day hold period from unit issuance, while United States investors are subject to additional hold periods under applicable federal and state securities laws. The warrants include an acceleration clause allowing the company to shorten the exercise period if the company's shares close at CAD $1.25 or greater for 10 consecutive trading days after the initial hold period. The offering remains subject to compliance with Canadian Securities Exchange policies, and the securities have not been registered under the United States Securities Act of 1933, meaning they cannot be offered or sold within the United States without registration or applicable exemption. View the original release on www.newmediawire.com.