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From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Tue Aug 02 2011 - 13:53:45 EDT
2011 Press Releases- Nevsun Corporate Update
June 30, 2011
<http://www.nevsun.com/> Nevsun Resources Ltd. (
<http://www.nevsun.com/investors/quotes/> TSX:NSU / NYSE Amex:NSU) 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: <mailto:ir@kincommunications.com> ir@kincommunications.com
Website: <http://www.nevsun.com/> www.nevsun.com
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