Mr. Marc Levy reports

NORSEMONT ANNOUNCES PRIVATE PLACEMENT

Norsemont Mining Inc. has arranged a non-brokered private placement of up to five million units at a price of 20 cent per unit for gross proceeds of up to $1-million.

Each unit will be composed of one common share and one-half of one transferable common share purchase warrant exercisable for one common share at a price of 30 cents per share for a period of two years from the closing date of the offering.

In the event that the shares trade at a price of 50 cents and above for 10 consecutive trading days, the company may, at its option, accelerate the warrant expiry date by providing notice to the warrantholders by way of a news release that the warrants will expire on the 30th day from the date of the acceleration notice.

The gross proceeds from the issuance of the shares will be used to finance working capital and exploration of the issuer's properties.

Finders' fees may be paid in accordance with policies of the Canadian Securities Exchange. All securities to be issued under the offering will be subject to a hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

The closing of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the exchange. There can be no assurance that the offering will be completed, whether in whole or in part.

About Norsemont Mining Inc.

Norsemont comprises experienced natural resource professionals focused on increasing shareholder value and developing its flagship project through to bankable feasibility. Norsemont owns a 100-per-cent interest in the Choquelimpie gold-silver-copper project in northern Chile, a previously permitted gold and silver mine. Choquelimpie has over 1,700 drill holes, with significant existing infrastructure.

We seek Safe Harbor.