Gold Is Hovering Around $5,000. This Forgotten Chilean Mine Could Be Producing Within 18 Months. And It’s Still Trading at a 70% Discount to Fair Value.

Disseminated on behalf of Norsemont Mining Inc.

Central banks are dumping dollars and stockpiling gold at the fastest rate in decades. China just slashed its Treasury holdings to a 17-year low while extending its gold-buying spree for 13 consecutive months. Tether has quietly amassed 116 tonnes of physical bullion. And Goldman Sachs is now calling for $5,400 gold by Q4 2026.

The institutional exodus from paper assets into hard money is accelerating. And the smart money isn’t just buying bullion. They’re hunting for gold producers that can capture this once-in-a-generation move.

Here’s the problem. There aren’t enough of them.

New mine supply is growing at just 1% annually. Most development projects won’t pour their first ounce until 2030 or later. The supply squeeze is real.

That’s what makes Norsemont Mining Inc. (CSE:NOM) (OTC:NRRSF) so compelling right now.

Breaking News

Norsemont Reports Significant Copper, Lead & Zinc Values in Three Choquelimpie Drill Holes

They’re not building a mine from scratch. They acquired one. A past-producing Chilean operation called Choquelimpie that Shell built in the 1980s and abandoned when gold was under $400 per ounce.

The gold never left. The infrastructure never disappeared. And now, with gold hovering around the $5,000 per ounce mark, Norsemont is racing to bring it back online.

Production target: 2027.

On 30,000 ounces annually, you’re looking at potential operating cash flow approaching $135 million per year.

And the stock? Trading at roughly $96 million market cap. That’s less than $40 per ounce for 2.18 Million indicated and 557,000 inferred gold-equivalent ounces sitting in the ground.

"What excites me about this opportunity is the speed at which we could execute... the size of the prize here and our ability to build a lot of cash flow. It's a stunning opportunity. It really is."

— Chuck Ross, Lead Director & CFO, Norsemont Mining

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Why the Smart Money Is Quietly Loading Up on This Name

When Rob McEwen, Paul Matysek, Quinton Hennigh, and Crescat Capital all start buying the same junior gold stock, it’s worth paying attention.

These aren’t momentum chasers. McEwen built Goldcorp into one of the most successful gold companies in history. Matysek has sold multiple mining companies for billions. Hennigh built his reputation finding undervalued gold assets before the crowd arrives.

Norsemont Mining (CSE:NOM) (OTC:NRRSF) has raised over $21 million from strategic investors alone., No brokers. No hedge funds. Every dollar came from people who have done the due diligence.

And here’s the signal that matters most. Crescat increased its position at a higher price in December. Sophisticated funds don’t average up unless they see something big coming.

CEO Marc Levy has $10 million of his own money in this deal. That’s roughly 21% ownership of the entire company. When did you last see that kind of alignment in a junior?

Add it up and 38% of the shares are held by insiders and strategic investors. The float is tight. When broader attention arrives, there won’t be much stock available.

The Asset: Hundreds of Million in Infrastructure That Most Juniors Spend a Decade Building

Between 1988 and 1992, Shell extracted over 398,900 ounces of gold and 2.19 million ounces of silver from Choquelimpie. It was Chile’s third-largest gold producer.

Then gold crashed below $400. They walked away.

But they left behind everything. A 3,000 tonne-per-day mill. Power connected to the grid. Water permits. Year-round road access. Camp facilities. Over 2,000 drill holes, for 143,047 meters of drilling.

Norsemont Mining Inc. (CSE:NOM) (OTC:NRRSF) didn’t spend years exploring or hundreds of millions building. They stepped into a turnkey operation worth $175 million in replacement value.

Mineral Resource Estimate (March 31, 2025)

Category	Tonnes (M)	Au (g/t)	Ag (g/t)	Cu (%)	AuEq (g/t)	AuEq Ounces
Indicated	81.89	0.66	12.62	0.04	0.83	2,184,000
Inferred	25.27	0.55	8.89	0.04	0.69	557,000

Over 80% sits in the higher-confidence Indicated category. This isn’t speculative. It’s drilled, tested, and validated by actual production.

The 33.2 indicated and 7.2 inferred million ounces of contained silver at today’s $80+ prices provides meaningful economic uplift on every tonne mined.

And the drill intercepts Shell left behind are stunning:

Zone	Hole ID	Interval (m)	Au (g/t)	Ag (g/t)
Vizcacha	A-327	35.0	30.5	8.0
Vizcacha	A-417	22.0	13.70	3.34
Choque	R-002	158.0	3.90	200.0
Choque	R-066	120.0	4.10	252.0
Suri	R-579	24.0	35.10	137.0
Suri	R-554	58.0	6.40	167.0

That Vizcacha hit represents over 1,100 gram-meters. Anything above 100 is significant. Above 1,000 is world-class. Norsemont (CSE:NOM) (OTC:NRRSF) has 59 intercepts exceeding 100 gram-meters already in their database.

Why are investors looking at Norsemont Mining?

Something has fundamentally changed in the gold market. This isn't another inflation scare. Demand is surging. Supply isn't keeping up. That's why Norsemont Mining’s past-producing mine with $175 million in existing infrastructure and a 2027 production target stands out.

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The Path to Production: 18 Months, Not 10 Years

Most developers quote $500 million to $1 billion in construction capital and timelines stretching past 2030.

Norsemont Mining (CSE:NOM) (OTC:NRRSF) is targeting first pour in 2027 with $10 to $25 million in restart capex.

The plan is straightforward. Start with the oxide material that Shell successfully heap-leached decades ago. There’s already 196,000 ounces of gold sitting in stockpiles on site that were sub-economic at $400 gold but highly profitable at $5,000. Combined with additional shallow oxide resources, management is targeting 1.0 to 1.5 million ounces to feed the initial operation.

The Environmental Impact Assessment is underway in a region that actively wants mining. Government officials have told Norsemont directly they support the project. Review periods typically run 6 to 12 months.

Once cash flow starts, Norsemont Mining Inc. (CSE:NOM) (OTC:NRRSF) self-funds expansion into the 1.6 million additional ounces in mixed and sulfide material. No dilutive raises. No handing upside to investment banks.

Press Releases

The Upside the Market Isn’t Pricing: 7.5M Oz Resource + Copper Porphyry

Here’s what most investors miss.

Shell’s drilling averaged just 70 meters in depth. But high-sulfidation epithermal systems like Choquelimpie typically extend to 300 meters or deeper. They stopped drilling while still in ore.

Management believes the resource can grow from 2.18 million indicated and 557,000 inferred gold-equivalent ounces to 7.5 million ounces or more by simply drilling deeper into zones already defined at surface. The Phase 3 program is testing exactly this with 20 diamond holes targeting 300-meter depths.

And then there’s the copper.

In 2021, Norsemont hit 170 meters grading 1.35 g/t gold and 0.2% copper at depth, with copper grades increasing to 0.7% to 1.1% before they stopped drilling. Geologists recognized it immediately. They’d hit the top of a copper porphyry system.

Dr. Sergei Diakov, who led the team that discovered the massive Oyu Tolgoi deposit, joined Norsemont Mining (CSE:NOM) (OTC:NRRSF)‘s board specifically for this porphyry potential. Management believes this could be a 500 million to 1 billion tonne target.

The market is assigning zero value to any of this. If the porphyry proves out, this becomes a completely different story.

"Choquelimpie is considered an excellent target for development of additional epithermal gold-silver resources below and adjacent to existing pits. There are also indicators of a deep porphyry copper-gold system."

— Scott E. Wilson, CPG, Qualified Person, NI 43-101 Technical Report

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The Valuation Gap Is Glaring

Industry rule of thumb: development-stage ounces trade at $100/oz in good jurisdictions with quality assets.

Norsemont Mining Inc. (CSE:NOM) (OTC:NRRSF) has 2.18 Million indicated and 557,000 inferred gold-equivalent ounces. At $100/oz, that’s $274 million implied value.

Current market cap? ~$96 million. That’s less than $40/oz.

Rio2 Limited mines gold in Chile at lower grades with a market cap of $1.75 billion. They raised hundreds of millions to build their operation. Norsemont is targeting production with a tiny capex because the infrastructure already exists.

The market is pricing zero value for the resource expansion to 7.5M oz. Zero for the copper porphyry. Zero for the 196,000 oz of gold in stockpiles. Zero for silver credits at $80+.

Gaps like this close two ways. Either the market wakes up. Or someone writes a check and takes the asset at a premium.

Why are investors looking at Norsemont Mining?

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A Team That’s Done This Before At Billion-Dollar Scale.

Marc Levy built the original Norsemont from $1M market value to a $520M sale to Hudbay. He’s been involved in over $1 billion in mining exits and co-founded Aurora Cannabis (peaked at $16B valuation).

Mijael Thiel built the $2.7 billion Esperanza project in Chile, taking it from the first drill hole to production in six years, on time and on budget.

David Laing literally put Choquelimpie into production for Shell in the 1980s. He later became CEO of Equinox, True Gold, and Quintana, and advised on $25 billion in mining M&A. When Norsemont Mining (CSE:NOM) (OTC:NRRSF) acquired the project, Levy called Laing to come back. He said yes.

2026 Catalyst Calendar

Q1: Phase 3 drilling results (7 deep holes, assays pending)
Q1-Q2: Metallurgical testwork results
Q2: Engineering study with detailed capex
Q2-Q3: Updated NI 43-101 resource estimate
Q3: Preliminary Economic Assessment
Q3-Q4: Results from the balance of the Phase 3 and the Oxide Expansion drill holes.
Q3-Q4: Environmental Impact Assessment submission

Six major catalysts. Twelve months. Each one capable of re-rating the stock.

One of Those Rare Moments Where This Kind of Setup Doesn’t Stay Cheap For Long

A past-producing mine with 2.18 Million indicated and 557,000 inferred gold-equivalent ounces in the ground. $175M in existing infrastructure. Production targeted for 2027. Resource expansion potential to 7.5Moz to 9Moz. A copper porphyry the market isn’t pricing in. Billionaires and legendary mine builders already on the register. A CEO with $10M of his own capital invested.

All trading at less than $40/oz while gold tests $5,000.

Norsemont Mining Inc. (CSE:NOM) (OTC:NRRSF) isn’t crowded yet. But the smart money has found it. The question is whether you’ll look before or after the re-rating happens.

Click here to download Norsemont Mining’s investor presentation.

Why are investors looking at Norsemont Mining?

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footnotes:
[1] https://finance.yahoo.com/news/golden-era-prices-surge-rally-093000015.html [2] https://finance.yahoo.com/news/tether-bought-26-tonnes-gold-153319708.html [3] https://www.marketscreener.com/news/goldman-sachs-raises-gold-price-forecast-for-end-of-2026-to-5-400-dollars-ce7e58d3d188f62c [4] https://elements.visualcapitalist.com/wp-content/uploads/2025/02/Gold-Demand-Trends_Q4-Full-Year_Final.pdf [5] https://norsemont.com/choquelimpie/ [6] https://norsemont.com/wp-content/uploads/2025/11/2025-Norsemont-Deck-V30A-retail.pdf [7] https://norsemont.com/norsemont-announces-closing-of-final-tranche-of-private-placement-from-strategic-investor-paul-matysek/ [8] https://norsemont.com/norsemont-closes-financing-for-a-total-of-15mm-with-increased-support-from-crescat-and-strategic-investors/ [9] https://norsemont.com/choquelimpie-project/ [10] https://www.youtube.com/watch?v=DPFN1hnCKlE [11] https://norsemont.com/choquelimpie-project/ [12] https://norsemont.com/choquelimpie-project/ [13] https://www.lexpert.ca/big-deals/hudbay-minerals-acquires-norsemont-mining-for-520m/347380

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6) This document contains forward-looking information and forward-looking statements within the meaning of applicable Canadian and United States securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Norsemont Mining Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Norsemont Mining Inc.’s industry; (b) market opportunity; (c) Norsemont Mining Inc.’s business plans and strategies; (d) services that Norsemont Mining Inc. intends to offer; (e) Norsemont Mining Inc.’s milestone projections and targets; (f) Norsemont Mining Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Norsemont Mining Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Norsemont Mining Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Norsemont Mining Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Norsemont Mining Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Norsemont Mining Inc.’s ability to enter into contractual arrangements with additional parties; (e) the accuracy of budgeted costs and expenditures; (f) Norsemont Mining Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Norsemont Mining Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Norsemont Mining Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Norsemont Mining Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Norsemont Mining Inc.’s business operations (e) Norsemont Mining Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Norsemont Mining Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Norsemont Mining Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Norsemont Mining Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

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Gold Is Hovering Around $5,000. This Forgotten Chilean Mine Could Be Producing Within 18 Months. And It’s Still Trading at a 70% Discount to Fair Value.

Breaking News

Why the Smart Money Is Quietly Loading Up on This Name

The Asset: Hundreds of Million in Infrastructure That Most Juniors Spend a Decade Building

The Path to Production: 18 Months, Not 10 Years

Press Releases

The Upside the Market Isn’t Pricing: 7.5M Oz Resource + Copper Porphyry

The Valuation Gap Is Glaring

A Team That’s Done This Before At Billion-Dollar Scale.

2026 Catalyst Calendar

One of Those Rare Moments Where This Kind of Setup Doesn’t Stay Cheap For Long

More News From This Company

Norsemont Mining Inc.

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