Norsemont Mining Reports on Warrant Exercises

    Share Issued and Outstanding: 50,422,713
    TSX: NOM
    BVL: NOM

    TORONTO and LIMA, PERU, June 5 /CNW/ - Norsemont Mining Inc. ("the
Company") (TSX: NOM, BVL: NOM) today announced that the Company has received
$4,753,000 through the exercise of the following share purchase warrants:

    -   1,079,500 warrants at an exercise price of $3.50
    -   500,000 warrants at an exercise price of $1.95

    A total of 7,219,000 warrants remain outstanding at an average exercise
price of $2.75. If the outstanding warrants are exercised the Company will
receive additional cash of $19,852,000 which will be used to fund an expanded
exploration program at the Constancia copper/moly/silver/gold project in
southern Peru.

    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
    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:, Web Site:

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