Norsemont Mining Announces High Grade Copper-Gold Mineralization at
Pampacancha South, Constancia Project, Peru

    
                             Highlights include:
       71.30 metres at 1.61% CuEq, including 30.0 metres at 2.50% CuEq,
                         39.50 metres at 1.21% CuEq

    Share Issued and Outstanding: 80,428,189TSX: NOM
    BVL: NOM
    

TORONTO , and LIMA, Peru , Jan. 14 /CNW/ - Norsemont Mining Inc. ("the Company") (TSX: NOM, BVL: NOM) today announced the first results of the current drilling campaign at the Company's 100-percent 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 focus of the current follow-up drilling campaign carried out during November and December 2009 .

Commenting, Norsemont President and COO Robert Baxter said: "Preliminary results confirm the presence of large Cu-Au-Ag-Mo-bearing magnetite-calc-silicate skarn bodies and endoskarns closely associated to moderate to strong, potassically-altered dioritic porphyry. These latest drill results take us a further step towards our vision to increase Constancia's global resource from its current 440 million tonnes to more than 800 million tonnes. We are very encouraged by the wide intercepts of high grade mineralisation from our current drill campaign".

Table 1 below contains the latest results from the current drill campaign. 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 were 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 113degrees) 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.

    
    Table 1. Pampacancha Drill Results from Follow-up Drilling carried out
    during November-December 2009

    -------------------------------------------------------------------------
                                 Start  End             Mo_  Ag_   Au_
    HOLE_ID   AZ     DIP Length   At    At    COG  Cu%  ppm  g/t   g/t  CuEq%
    -------------------------------------------------------------------------
    PO-09-006 315     -70 71.30  56.00 127.30 0.2  1.29   5  7.34 0.509  1.61
    -------------------------------------------------------------------------
                including 65.19  60.00 125.19 0.4  1.37   4  7.65 0.540  1.71
    -------------------------------------------------------------------------
                      and 48.00  60.00 108.00 0.5  1.70   2  9.66 0.663  2.12
    -------------------------------------------------------------------------
                     also 30.00  66.00  96.00 1.0  2.04   2  8.82 0.752  2.50
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    PO-09-007 135     -70 28.35 204.00 232.35 0.2  0.72  56  2.76 0.290  0.93
    -------------------------------------------------------------------------
                including 26.35 206.00 232.35 0.3  0.76  59  2.94 0.300  0.97
    -------------------------------------------------------------------------
                      and 20.35 212.00 232.35 0.4  0.95  77  3.69 0.360  1.21
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    PO-09-009 113     -67 14.00  24.00  38.00 0.2  0.28  57  2.54 0.430  0.56
    -------------------------------------------------------------------------
                          20.50  72.00  92.50 0.2  0.71  38  9.97 0.214  0.92
    -------------------------------------------------------------------------
                including 13.50  79.00  92.50 0.4  1.04  20 14.09 0.319  1.33
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    PO-09-011 320     -60 16.70  22.00  38.70 0.2  0.33 137  4.30 0.330  0.62
    -------------------------------------------------------------------------
                          22.00 278.00 300.00 0.2  0.23  52  2.33 0.235  0.40
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    PO-09-012   0     -90 49.30  21.00  70.30 0.2  0.73 260  6.61 0.310  1.10
    -------------------------------------------------------------------------
                including 41.85  22.14  64.00 0.3  0.80 272  7.30 0.337  1.19
    -------------------------------------------------------------------------
                      and 39.50  24.50  64.00 0.4  0.81 283  7.43 0.341  1.21
    -------------------------------------------------------------------------
                     also 19.90  24.50  44.40 0.5  0.88 526  6.05 0.356  1.41
    -------------------------------------------------------------------------
                          39.00 135.00 174.00 0.2  0.88 107  6.51 0.395  1.20
    -------------------------------------------------------------------------
                including 17.00 135.00 152.00 0.3  1.43   6  3.40 0.297  1.61
    -------------------------------------------------------------------------
                      and 10.55 137.00 147.55 0.4  2.17   4  4.99 0.450  2.45
    -------------------------------------------------------------------------
                     also 10.55 137.00 147.55 0.5  2.17   4  4.99 0.450  2.45
    -------------------------------------------------------------------------
                          23.30 212.00 235.30 0.2  0.18  38  1.04 0.044  0.23
    -------------------------------------------------------------------------
    

Note: Copper equivalent values (CuEQ) are estimated using long-term metal prices including: copper US$2.25 per lb, molybdenum US$13.00 per lb, silver US$12 per oz and gold US$800 per oz. Adjustment factors to account for differences in relative metallurgical recoveries for copper, molybdenum and silver will depend upon the completion of definitive metallurgical testing. All mineralized intercepts are at least 10 meters long and accept intervals of up to 5 meters internal dilution.

The southernmost sector of Pampacancha South is generally characterized by relatively shallow Cu-Au-Ag-Mo-bearing skarn mineralization, starting from 21.00m down to 56.00m below surface. Based on these encouraging results, exploration will continue throughout the target area in order to configure the geometry of the skarn bodies and endoskarns associated with them.

Currently, drilling is underway at the Uchuicarco discovery, which is located 3.2 kilometres NW of the Constancia deposit. Following completion of the initial drilling at Uchuicarco, drilling will commence at the Yanaccacca discovery located 500 metres north of the Constancia deposit.

Norsemont is also pleased to announce that on January 7, 2010 , Peru's Ministry of Mines granted authorisation for drilling at the Chiloroya South discovery located 5 km south of the Constancia deposit, which is now planned for the immediate future.

The Pampacancha prospect area is comprised of scattered outcrops of limestone intruded by dioritic and lesser monzonite intrusives where both magnetite and garnet skarns are developed near their contacts. Outcropping copper oxides in skarn bodies highlight the potential for significant copper mineralisation. Additionally, high-grade gold and silver mineralization associated with veins, shear zones and limestone replacements occur in an area of about 6 square kilometres. The longest structure can be projected up to one kilometre in length. Gold and silver returned values as high as 39 grams per tonne gold and 38 ounces per tonne silver. Further drilling in the area surrounding hole PR-08-008 (located 130m NW of hole PO-09-006), where high grade Cu-Au-Mo skarns was intercepted is required. The shallower skarn body was 43.50m wide from 112.50 to 156.00m depth averaging 1.70% Cu, 0.10% Mo, 10.25 g/t Ag and 0.757 g/t Au. Similar and thicker skarn interceptions are expected to occur at the surroundings of this hole especially to the east and west, which will increase significantly the potential Cu-Au-Mo resource of the area.

The Pampacancha South target is typified by scattered outcrops of copper-bearing magnetite-calc-silicates skarns and potassically-altered dioritic porphyries, being crosscut by a series of conjugate, NW and NE-oriented shear zones and gold-bearing vein structures, well exposed along the road-cuts opened in the area.

Mr. Robert Baxter , added: "The follow-up drilling in Pampacancha South is confirming our expectations for the area to host massive high-grade Cu-Au-Ag-Mo mineralization associated with skarn and endoskarn bodies. Following the encouraging results obtained to date, further drilling is planned to define and quantify a Cu-Au-Ag-Mo resource. Pampacancha South will constitute an important added mineral resource to the Constancia deposit, which is expected to contribute significantly to the overall project economics. Furthermore, excellent potential exists for the discovery of additional mineralization of this style and porphyry copper-gold mineralization at the Chiloroya South prospect, where a significant drilling program is planned in the immediate future".

The drilling program and geological studies at the Constancia project are being supervised by Mr. Gaston Loyola (MAusIMM), Norsemont's Qualified Person as defined by NI 43-101. Core samples are cut with a diamond saw, with one-half of the core placed in sealed bags, and shipped to SGS Laboratoriess in Lima, Peru . Core samples are collected at 2.0 metre intervals. The program includes an extensive quality control program for assaying which includes the systematic use of standards, blanks, and field duplicate samples. Secondary laboratories are also used for check assaying. All intersections were determined using a rolling 0.2% Cu cut-off and up to 5 metres of internal waste and 10 metres of minimum intercept length.

ABOUT NORSEMONT MINING - Norsemont is a mineral exploration and development company advancing the Constancia Copper project in Southern Peru . The Company's Constancia project is located in Cusco department, approximately 100 kilometres south of Cusco, Peru . The company's shares are traded on the Toronto Stock Exchange under the symbol NOM, and on the Bolsa de Valores, Lima (BVL) also under the symbol NOM.

The technical information provided in this news release was reviewed and approved by Robert. W. Baxter (MAusIMM), the President, COO and a director of the Company and a qualified person for the purposes of National Instrument 43-101.

For further information: Mr. Bob Baxter, President and COO, Norsemont Mining Inc, Phone: [phone]; Patrick Evans, CEO, Norsemont Mining Inc, Phone: [phone]; E-Mail: [email protected], Web Site: www.norsemont.com