VANCOUVER, July 24 /CNW/ - Norsemont Mining Inc. ("Norsemont" or "the
Company") (TSX-V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF; ISIN:
CA6565291045) is pleased to announce that Mr. Robert Baxter has joined the
Company as President and Director of Norsemont Mining and General Manager of
Norsemont Peru SAC. Mr. Baxter's appointment will take effect immediately at
which time he will assume responsibility for the general operations of the
company and will oversee the technical and developmental aspects of its
projects in Peru.
Mr. Marc E. Levy will continue in his capacity as Chief Executive Officer
and Chairman of the Board of Norsemont.
Mr. Baxter has over 22 years of experience in the mining industry,
principally in Latin America. He comes to Norsemont from Chariot Resources
Limited, where he was Executive Vice President and a Director. In that role he
managed all aspects of Chariot's exploration and development projects,
including their Marcona Copper Project in Peru, which is approximately 250 km
(150 miles) west of Norsemont's flagship Constancia Copper Project.
"Mr. Baxter has a strong technical background and is intimately familiar
with the regulatory and socio-political climate in Peru and other parts of
Latin America. This makes him an ideal candidate to take over the Presidency
and actively spearhead the development of our flagship Constancia Copper
Project. As well, Mr. Baxter will bring a wealth of contacts and expose
Norsemont to many other opportunities in South America," said Marc E. Levy,
Chief Executive Officer of Norsemont.
"I am thrilled to have this opportunity to join Norsemont at this
exciting time in the company's growth. To be able to lead a young, dynamic
company with an excellent project in a part of the world that I know so well
is a career-defining opportunity for me," said Mr. Baxter.
Mr. Baxter has also formerly held positions as General Manager of Baxter
Consultants Engineering, and Business Development Coordinator, Regional
Geologist and Regional Manager, Americas, for North Limited. He has been a
member of the Advisory Board of Petaquilla Minerals Ltd. since April 2005. Mr.
Baxter has an Applied Bachelor of Science (Honours) degree from the University
of New South Wales and is a member of the Australian Institute of Mining and
Metallurgy (AusIMM).
Norsemont's Board has approved the issuance of a 530,000 options to a
consultant and a director of the company at a price of $2.00 per share,
expiring 5 years from date of grant. This grant is subject to TSX-V approval
and shareholder approval at the 2006 Annual General Meeting.
Norsemont has previously accepted the resignation of Aly Mawji from the
board of directors.
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-Gold project, and exploration
is underway at the Amata Silver-Gold property acquired from Rio Tinto.
ON BEHALF OF THE BOARD OF DIRECTORS,
Marc E. Levy
CEO & Director
Norsemont Mining Inc.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this release. We seek
Safe Harbor.
