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From: Biniam Tekle (biniamt@dehai.org)
Date: Thu Jun 30 2011 - 17:28:23 EDT
http://www.nevsun.com/news/2011/june30/
Nevsun Corporate Update
2011 Press Releases
*June 30, 2011*
Nevsun Corporate Update
*Nevsun Resources Ltd. * <http://www.nevsun.com/>(TSX:NSU / NYSE
Amex:NSU<http://www.nevsun.com/investors/quotes/>)
announces that the Company continues to work towards finalizing its
arrangements regarding the purchase of 30% of the company by the Eritrean
National Mining Corporation (ENAMCO) from Nevsun. The Company had previously
given guidance on May 3 that the purchase price would be determined by June
30, 2011. The price determination is subject to a process involving two
independent international institutions that have now submitted their draft
reports. Nevsun and ENAMCO are reviewing the results and will advise when
the amount is finalized.
*Forward Looking Statements:* The above contains forward-looking statements
regarding future dividend payments, resource/reserve potential at Bisha and
ongoing cash flow. Forward-looking statements are frequently, but not
always, identified by words such as "expects", "anticipates", "believes",
"intends", "estimated", "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, other than required by law. For the reasons set forth above,
investors should not place undue reliance on forward-looking statements.
*NEVSUN RESOURCES LTD.*
Cliff T. Davis
President & Chief Executive Officer
*For further information, please contact:*
Kin Communications
Tel: 604 684 6730
Toll free 1 866 684 6730
Email: ir@kincommunications.com
Website: www.nevsun.com
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