Nevsun Files Bisha Mine NI 43-101 Technical Report, and Hires VP Exploration
September 08, 2012
HIGHLIGHTS
* Today filed new Technical Report for Bisha Mine on SEDAR
* New VP Exploration brings experience to drive organic growth program
<
http://www.nevsun.com/> Nevsun Resources Ltd. (TSX: NSU / NYSE MKT: NSU)
("Nevsun") announces the filing today on SEDAR of the updated Bisha Mine NI
43-101 Technical Report titled Bisha Polymetallic Operation, Eritrea,
Africa, to support the mineral resources and reserves estimates announced on
July 24, 2012. The Technical Report is authored by independent Qualified
Persons. The Technical Report is also available on Nevsun's website at
<
http://www.nevsun.com/projects/bisha-main/reports>
www.nevsun.com/projects/bisha-main/reports.
Nevsun is also pleased to announce the hire of Peter Manojlovic as Vice
President of Exploration. Peter has a B.Sc. Geology from University of
Western Ontario and a M.Sc. Geology from Carleton University. Peter was
with Sabina Gold & Silver Corporation since April 2009, most recently as
their Vice President Exploration. Prior to that, Peter was with Teck Cominco
and earlier with Falconbridge dating back to 1987. Peter will be starting
in mid-September.
Nevsun CEO Cliff Davis commented: "We would like to welcome Peter to the
Nevsun team. Peter's extensive experience including VMS deposits will be
utilized to drive organic growth programs at Nevsun working with the Bisha
Mine, as well as any future acquired projects."
Forward Looking Statements
The above contains forward-looking statements regarding the potential for
Bisha organic growth and Nevsun acquiring future projects. 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, the risks that (i) any of the
assumptions in the historical resource estimates turn out to be incorrect,
incomplete, or flawed in any respect; (ii) the methodologies and models used
to prepare the resource and reserve estimates either underestimate or
overestimate the resources or reserves due to hidden or unknown conditions,
(iii) the mine operations are disrupted or suspended due to acts of god,
internal conflicts in the country of Eritrea, or unforeseen government
actions; (iv) the Company experiences the loss of key personnel; (v) the
mine operations are adversely affected by other political or military, or
terrorist activities; (vi) the Company becomes involved in any material
disputes with any of its key business partners, lenders, suppliers or
customers; (vii) the Company is subjected to any hostile takeover or other
unsolicited attempts to acquire control of the Company; (viii) the Company
is subject to any adverse ruling in any of the pending litigation to which
it is a party; or (ix) the Company incurs unanticipated costs as a result of
the transition from the oxide phase of the Bisha mining operations to the
copper phase in 2013. Other risks are more fully described in the Company's
most recent Management Discussion and Analysis, as well as the "Factors That
May Affect the Mineral Reserve Estimate" set forth in the Technical Report,
all of which is incorporated herein by reference. 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, except as required by law. For the reasons set forth above,
investors should not place undue reliance on forward-looking statements.
Please see the Company's Annual Information Form for the fiscal year ended
December 31, 2011 and the Company's Management Discussion and Analysis for
the quarter ended June 30, 2012 for a more complete discussion of the risk
factors associated with our business.
About Nevsun Resources Ltd.
Nevsun Resources Ltd. is a Vancouver-based mining company with an operating
mine in Eritrea. Nevsun's 60%-owned Bisha Mine commenced gold production in
February 2011 and is scheduled to transition to copper/gold production in
2013. Management expects the Bisha Mine will rank as one of the highest
grade open pit base metal deposits in the world.
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:NSU_at_kincommunications.com> NSU_at_kincommunications.com
Website: <
http://www.nevsun.com/> www.nevsun.com
Received on Sat Sep 08 2012 - 18:37:45 EDT
