SENTIENT III EXERCISES WARRANTS OF NORSEMONT MINING INC.

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

MONTREAL, Dec. 14 /CNW Telbec/ - Sentient Executive GP III, Limited ("Sentient III") announces that it has exercised 6,319,853 common share purchase warrants issued by Norsemont Mining Inc. ("Norsemont") in accordance with their terms and, as such, acquired control over 6,319,853 common shares of Norsemont, representing approximately 7.64% of the outstanding common shares of Norsemont.

Sentient III has control or direction over 17,248,704 common shares of Norsemont (representing approximately 19.38% of the outstanding common shares of Norsemont), the right to acquire 1,224,000 common shares of Norsemont through common share purchase warrants (the "Sentient III Warrants"), a $6,000,000 principal amount convertible note (the "December 2008 Note") issued by Norsemont, and a $3,800,000 principal amount convertible note (the "March 2009 Note") issued by Norsemont.  The December 2008 Note matures on December 19, 2011 and the principal amount thereof as well as accrued interest are convertible into fully paid and non-assessable common shares of Norsemont at a conversion price of $1.70 per share.  The March 2009 Note matures on March 31, 2012 and the principal amount thereof is convertible into fully paid and non-assessable common shares of Norsemont at a conversion price of $1.70 per share. The accrued interest on the March 2009 Note is convertible, at the holder's option, into fully paid and non-assessable common shares of Norsemont at a conversion price equal to the market price of the common shares of Norsemont at the time of conversion, less a discount.

In the event all of the Sentient III Warrants are fully exercised and assuming the conversion in full of the maximum principal amount of and interest on the December 2008 Note and the conversion in full of the principal amount of the March 2009 Note, Sentient III would acquire control over a maximum of 24,792,833 common shares of Norsemont (including the 17,248,704 common shares of Norsemont over which Sentient III has control or direction). These combined holdings would represent approximately 25.67% of the outstanding common shares of Norsemont, calculated on a partially diluted basis assuming the full exercise of the Sentient III Warrants and the full conversion of the maximum principal amount of and interest on the December 2008 Note and the conversion in full of the principal amount of the March 2009 Note only.

Under relevant securities laws, Sentient Executive GP I, Limited ("Sentient I") and Sentient (Aust) Pty Limited ("Sentient Pty"), related entities of Sentient III, may be considered as acting jointly or in concert with Sentient III.

Sentient III, Sentient I and Sentient Pty have control or direction over 22,998,704 common shares of Norsemont in the aggregate (representing approximately 25.83% of the outstanding common shares of Norsemont), in the aggregate 1,723,999 Sentient III Warrants, Sentient I Warrants and Sentient Pty Warrants, the December 2008 Note, and the March 2009 Note. In the event all of the Sentient III Warrants, Sentient I Warrants and Sentient Pty Warrants are fully exercised and assuming the conversion in full of the maximum principal amount of and interest on the December 2008 Note and the conversion in full of the principal amount of the March 2009 Note, these combined holdings would represent approximately 31.98% of the outstanding common shares of Norsemont, calculated on a partially diluted basis assuming the full exercise of the Sentient III Warrants, Sentient I Warrants and Sentient Pty Warrants and the full conversion of the maximum principal amount of and interest on the December 2008 Note and the conversion in full of the principal amount of the March 2009 Note only.

Sentient III acquired the 6,319,853 common shares of Norsemont for investment purposes only and not with a view to materially affecting control of Norsemont. Sentient III and its joint actors have no present intention of acquiring beneficial ownership or control over additional securities of Norsemont.

SOURCE Sentient Executive GP III Limited

For further information: For further information:

Sue Bjuro at (345) 946-0933

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Sentient Executive GP III Limited

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