Norsemont's 43-101 Stock Data

Norsemont Provides Update on Choquelimpie Gold-Silver Project

15 March 2021
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VANCOUVER, British Columbia, March 15, 2021 (GLOBE NEWSWIRE) -- Norsemont Mining Inc. (CSE: NOM, OTCQB: NRRSF, FWB: LXZ1) (“Norsemont” or the “Company”) wishes to provide 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 and 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”).

Norsemont is pleased to report that critical in-country management and staff positions have been filled with the technical team being led by Mr. John Currie, VP Exploration.

Until recently field operations have been challenging due to Covid-19 lock-downs but Norsemont is now pleased to report that field operations are now underway in earnest, whilst continuing to carefully observe Covid-19 protocols. Meetings have been held with local indigenous community leaders and access agreements are in place.

With regard to environmental matters the company has completed a review of leading consultants in Chile and selected DAES Consultores (“DAES”) of Santiago, to assist in the development, analysis and formulation of appropriate environmental strategies and ensure compliance for the project. DAES management has more than 20 years of experience in environmental matters across various industries.

On the technical front the early focus has been on developing a comprehensive validated database. Voluminous historic material is being digitized and a major re-assaying program is underway. Diamond drill core, RC cuttings pulps and splits are kept in an orderly fashion in a warehouse at the historic mine-site and are easily accessible. Several thousand samples will be re-assayed over the next three months and results will be compared to historic data with the aim of supporting a compliant 43-101 resource.   

Marc Levy, CEO of Norsemont said, “We are pleased to back in the field at Choquelimpie and look forward to rapidly moving the project forward with a plan for additional drilling, subject to permitting, and delivering a NI 43-101 compliant resource, in the second half of the year.”

On behalf of the Board of Directors,

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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