Norsemont Mining Inc. announced the last drill results for holes completed at the Pampacancha discovery in December 2009. The Company also announced details of the early engineering projects that have now commenced at the Constancia project, which was the subject of a successful definitive feasibility study completed in late 2009. The September 2009 Constancia Definitive Feasibility Study (DFS) reported a production profile for the Constancia deposit which is robust from year 1 to year 6 as higher grade supergene and skarn ore is mined and processed. From year 6 to year 15 the production profile diminishes as lower grade hypogene ore predominates. Norsemont's mine site exploration strategy is to define high grade ore that can supplement the lower grade hypogene ore that would be processed starting in year 6. To date Norsemont has, in addition to the Constancia deposit, discovered satellite prospects at Pampacancha and Chilloroya South, which are both in close proximity to the Constancia deposit. These prospects are the primary focus of the Company's current exploration program. The Pampacancha prospect, located 3 kilometres SE of the Company's 100% controlled Constancia deposit, was discovered in late 2008. On January 27 2009, the Company reported the results of the first drill holes where high grade mineralization was intersected in holes PR-08-08, PR-08-012 and PR-08-10 and PR-08-011, drilled from platforms located 420 meters apart. Results of this drilling identified a north-south-striking mineralized corridor with dimensions of about 1,000 meters by 400 meters, which was the focus of the current follow-up drilling campaign carried out during November and December 2009.

Norsemont Mining, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2009. For the quarter, the company reported net loss and comprehensive loss of CAD 4.393 million or CAD 0.06 per basic and diluted share compared to net loss and comprehensive loss of CAD 9.380 million or CAD 0.18 per basic and diluted share for the same period of last year. The company reported net cash used in operating activities of CAD 3.600 million and purchase of furniture and equipment of CAD 6,121 compared to net cash used in operating activities of CAD 7.249 million and purchase of furniture and equipment of CAD 27,405 for the same period of last year. For the six months, the company reported net loss and comprehensive loss of CAD 10.299 million or CAD 0.15 per basic and diluted share compared to net loss and comprehensive loss of CAD 20.298 million or CAD 0.38 per basic and diluted share for the same period of last year. The company reported net cash used in operating activities of CAD 9.680 million and purchase of furniture and equipment of CAD 6,121 compared to net cash used in operating activities of CAD 15.849 million and purchase of furniture and equipment of CAD 86,206 for the same period of last year.

Norsemont Mining, Inc. announced the first results of the current drilling campaign at the Companys 100% controlled Pampacancha Prospect, located 3 kilometres SE of the Constancia deposit in south-eastern Peru. The Pampacancha prospect was discovered in September 2008 after drilling results identified high-grade Cu-Au-Ag-Mo mineralization in porphyry-related skarn bodies. On January 27 2009, the company reported the results of the first drill holes where high grade mineralization was intersected in holes PR-08-08, PR-08-012 and PR-08-10 and PR-08-011, drilled from platforms located 420 meters apart. Results of this drilling identified a north-south-striking mineralized corridor with dimensions of about 1,000 metres by 400 metres, which was the foc of the current follow-up drilling campaign carried out during November and December 2009. These latest drill results take the company a further step towards vision to increase Constancias global resource from its current 440 million tonnes to more than 800 million tonnes. In the southern sector of Pampacancha, hole PO-09-006 intersected 71.30 metres of magnetite-calc-silicates skarns (from 56.00m to 127.30m depth) averaging 1.29% Cu, 7.34 grams per tonne (g/t) Ag and 0.509 g/t Au. From the same platform holes PO-09-012 and PO-09-009 ourre drilled in different directions to determine the geometry of the skarn mineralization. Hole PO-09-012 was drilled vertical, intersecting two main skarn bodies, the uppermost of 49.30m (from 21.00m to 70.30m depth) averaging 0.73% Cu, 260ppm Mo, 6.61 g/t Ag and 0.31 g/t Au; and a deeper intercept of 39.00m (from 135.00m to 174.00m depth) averaging 0.88% Cu, 107ppm Mo, 6.51 g/t Ag and 0.395 g/t Au. Hole PO-09-009, drilled to the SE (striking 113) intersected two skarn bodies, the main one of 20.50m (from 72.00m to 92.50m depth) averaging 0.71% Cu, 9.97 g/t Ag, and 0.214 g/t Au. Deeper high grade Cu-Au skarn mineralization was also identified in hole PO-09-007, drilled 200m NW of hole PO-09-006. This hole intersected 28.35m (from 204.00m to 232.35m depth) averaging 0.72% Cu, 2.76 g/t Ag and 0.29 g/t Au.