Norsemont Mining Completes Fourth Mitsui Payment



    
    Share Issued and Outstanding: 55,553,992
    TSX: NOM
    BVL: NOM
    

    TORONTO and LIMA, Peru, April 1 /CNW/ - Norsemont Mining Inc. ("the
Company") (TSX: NOM, BVL: NOM) today announced that the Company has completed
a payment of US$3M to Mitsui Mining and Smelting Co. Ltd. Peru ("Mitsui"). The
US$3M payment represents the fourth in a series of five payments totalling
US$9.8M due to Mitsui in consideration for the acquisition by Norsemont of
Mitsui's 30 percent interest in the Constancia Project. A fifth and final
payment of US$4M is due on June 30, 2009. Mitsui's interest in the Constancia
Project has already been transferred to Norsemont.

    About Norsemont Mining

    Norsemont Mining is a Canadian mineral exploration and development
company focused on the 100 percent-controlled Constancia Cu-Mo-Ag-Au deposit
in southern Peru.
    The Constancia Project currently has a 43-101 compliant indicated
resource of 256.3M tonnes at 0.5% Cu (2.85 Billion lbs Cu) and an inferred
resource of 156.5M tonnes at 0.33% Cu (1.14 Billion lbs Cu). A recently
completed scoping study anticipates a project producing in excess of 90,000
tonnes of copper annually. The study indicates the project has a net present
value of $530 million and an internal rate of return of 25.3 percent. The
following long-term commodity price assumptions were used in the study: copper
$1.80 per pound, molybdenum $12 per pound and silver $11 per ounce. The full
study, dated December 11, 2007, and titled "Preliminary Assessment of the
Constancia Project, Department of Cusco, Peru" is available for viewing on
SEDAR. Mineral resources that are not mineral reserves do not have
demonstrated economic viability.
    The technical information provided in this press release was reviewed and
approved by Robert. W. Baxter (MAusIMM), the President and a director of the
Company and a qualified person for the purposes of National Instrument 43-101





For further information:

For further information: Patrick Evans, Norsemont Mining, Phone: (416)
670-5114, E-Mail: investors@norsemont.com, Web Site: www.norsemont.com

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NORSEMONT MINING INC.

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