Norseman Silver Inc. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.10 per unit for aggregate gross proceeds of up to CAD 1,000,000 on December 5, 2023. Each unit shall comprise one common share and one-half common share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share at an exercise price of CAD 0.15 for a period of two years from the closing date. The transaction is subject to an overallotment option pursuant to which it may increase the offering by up to CAD 500,000.

The closing of the offering is subject to, among other things, the receipt of all necessary approvals from the TSX Venture Exchange. All securities issued and issuable in connection with the offering will be subject to a four-month hold period, commencing on the closing date.