Norsemont Mining Inc.
TSX VENTURE : NOM
FRANKFURT : N8S
OTC Bulletin Board : NOMFF

Norsemont Mining Inc.

November 01, 2006 10:58 ET

Norsemont Reports Arrival of 4th Drill Rig at the Constancia Copper Project, Southern Peru

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 1, 2006) - Norsemont Mining Inc. ("Norsemont" or "the Company") (TSX VENTURE:NOM)(OTCBB:NOMFF)(FWB:N8S)(WKN:A0DQKK)(ISIN:CA6565291045) is pleased to confirm the arrival of a 4th drill rig to the Constancia Project in Southern Peru.

In 2006 an excess of 14,000 meters of HQ core has been drilled through the end of October. The goal for the remainder of 2006 drilling to complete 20,000 meters of HQ drilling for the express purpose of enlarging the overall resource as well as better define the secondary, and potentially leachable, sulphide zones.

On October 3rd 2006 the company announced an Inferred Resource of 103.9 million tonnes grading 0.537% copper, 0.014% molybdenum and 3.9 g/t silver (0.67% Cu-Equivalent) at a cutoff grade of 0.2% copper, PLUS, in addition to this, an Indicated Resource of 57.7 million tonnes grading 0.589% copper, 0.015% molybdenum and 4.1 g/t silver (0.73% Cu-Equivalent) at a cutoff grade of 0.2% copper.

The drilling program and geological studies at the Constancia project are being supervised by Dr. Thomas A. Henricksen, P. Geo., Norsemont's Qualified Person as defined by NI 43-101, who has reviewed and approved the information contained in this news release. Core samples are cut with a diamond saw, with one-half of the core placed in sealed bags, and shipped to ALS Chemex Assay Labs in Lima, Peru. 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.

A plan map with drill hole locations and the resource outline is available on Norsemont's website at www.norsemont.com.

The Company also wishes to clarify, further to its news release dated October 16, 2006, that it is re-pricing only those stock options granted to non-insiders of the Company.

About Norsemont Mining

Norsemont Mining is a well structured, well financed exploration company working in the America's, with a focus on Peru. The Company is currently drilling the Constancia Copper-Molybdenum-Silver project. As mentioned above, an initial Resource Estimate for the project was released on October 3rd, 2006.

ON BEHALF OF THE BOARD OF DIRECTORS,

Robert W. Baxter, President

Norsemont Mining Inc.

We seek Safe Harbor.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

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