From: Biniam Haile \(SWE\) (eritrea.lave@comhem.se)
Date: Wed Jul 29 2009 - 17:07:11 EDT
Bisha Project Financing - Major Condition Satisfied
Published in M2 PressWIRE on Wednesday, 29 July 2009 at 18:17 GMT
Nevsun Resources Ltd., (NSU-TSX/AMEX) is very pleased to announce that
its Bisha Project in Eritrea has satisfied a significant condition of
the recently announced $235 million debt financing.
The Government of Eritrea has provided its strong written support for
Bisha and the financing, fulfilling a major condition precedent.
Nevsun thanks the Eritrea Government for its assistance, clearly
demonstrating timely, direct and unequivocal support for this world
class project. Various branches of government continue to provide their
cooperation with the construction phase of the Bisha Project.
In addition, after receiving its Board approval at the end of June, the
Export Credit Insurance Corporation of South Africa is finalizing a
policy of insurance tied to South African supply of goods and services.
Similarly Nevsun appreciates the unwavering support from Government of
South Africa since the first financial commitment in October 2008,
during a very difficult time for major international financial
institutions.
Forward Looking Statements: The above contains forward-looking
statements concerning Eritrean and South African government support.
Forward-looking statements are frequently, but not always, identified by
words such as "expects," "anticipates," "believes," "intends,"
"estimates," "potential," "possible" and similar expressions, or
statements that events, conditions or results "will," "may," "could" or
"should" occur or be achieved. Forward-looking statements are statements
about the future and are inherently uncertain, and actual achievements
of the Company or other future events or conditions may differ
materially from those reflected in the forward-looking statements due to
a variety of risks, uncertainties and other factors, including, without
limitation, those described in the Management Discussion and Analysis of
the Company. The Company's forward-looking statements are based on the
beliefs, expectations and opinions of management on the date the
statements are made and the Company assumes no obligation to update such
forward-looking statements in the future. For the reasons set forth
above, investors should not place undue reliance on forward-looking
statements.
NEVSUN RESOURCES LTD.
"Cliff T. Davis"
Cliff T. Davis
President & Chief Executive Officer
For further information, please contact:
NEVSUN RESOURCES LTD Tel: +1 604 623 4700 Tel: +1 888 600 2200 e-mail:
nevsuninfo@nevsun.com WWW: http://www.nevsun.com
Release date: 29 Jul 2009
http://www.m2.com/m2/web/story.php/2009534EFD99D7E16DDD80257602005C7690
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