Norsemont Mining Inc. Comments on Peruvian Tax Issues

17.02.2011  |  CNW

TORONTO, ON and LIMA, Peru, Feb. 17 /CNW/ - Norsemont Mining Inc. (the "Company") (TSX: NOM, BVL: NOM) today noted that the parliament of Peru has enacted, under law 29663 which became effective on February 16, 2011, the amendment to Peru's income tax code relating to the taxation of capital gains described in the take-over bid circular mailed by HudBay Minerals Inc. ("HudBay") to holders of the Company's common shares. Norsemont shareholders should consult their own tax advisors for advice on the applicability of the amendment to Peru's income tax code having regard to their particular circumstances.

HudBay's take-over bid remains open for acceptance until 5:00pm (Toronto time) on March 1, 2011.


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.


For further information:

Patrick Evans, CEO
Norsemont Mining Inc
Phone: 416-408-4088

E-Mail: investors@norsemont.com
Web Site: www.norsemont.com