SENTIENT ANNOUNCES INTERNAL REORGANIZATION OF NORSEMONT MINING INC. HOLDINGS

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES

MONTREAL, Feb. 15 /CNW Telbec/ - Sentient Executive GP III, Limited (for the general partner of Sentient Global Resources Fund III, L.P. and for the general partner of SGRF III, Parallel I, L.P.) (collectively, "Sentient III"), Sentient Executive GP I, Limited (for the general partner of Sentient Global Resources Fund I, L.P.) (collectively, "Sentient I") and Sentient (Aust) Pty Limited ("Sentient Pty" and, together with Sentient III and Sentient I, collectively "Sentient") announce that, in connection with an internal reorganization, they have transferred 30,401,458 common shares of Norsemont Mining Inc. ("Norsemont") on February 15, 2011 to the Sentient Resources Trust, a trust all of the beneficiaries of which are Sentient III, Sentient I and Sentient Pty.  The internal reorganization was effected pursuant to an exempt take-over bid as the purchases were made from not more than five persons.

As part of the internal reorganization described above: (i) Sentient III transferred 24,651,458 common shares of Norsemont to the Sentient Resources Trust; (ii) Sentient I transferred 4,725,104 common shares of Norsemont to the Sentient Resources Trust; and (iii) Sentient Pty transferred 1,024,104 common shares of Norsemont to the Sentient Resources Trust.

As a result, Sentient III, Sentient I and Sentient Pty have each ceased to have control or direction over any securities of Norsemont. The Sentient Resources Trust has acquired ownership of 30,401,458 common shares of Norsemont (representing approximately 30.97% of the outstanding common shares of Norsemont).

The Sentient Resources Trust acquired the 30,401,458 common shares of Norsemont for investment purposes only and not with a view to materially affecting control of Norsemont.  The Sentient Resources Trust has no present intention of acquiring beneficial ownership or control over additional securities of Norsemont.

SOURCE SENTIENT EXECUTIVE GP III LIMITED

For further information:

Sue Bjuro at (345) 946-0933

Profil de l'entreprise

SENTIENT EXECUTIVE GP III LIMITED

Renseignements sur cet organisme

SENTIENT RESOURCES TRUST

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.