Nevsun Resources Ltd (NSU)

[douginil]

Friendly All-Cash Agreement for Nevsun to be Acquired by Zijin Mining for US$1.41 billion
Consideration of C$6.00 per share represents 57% premium to unaffected Nevsun share price
Board of Directors unanimously recommends Nevsun shareholders ACCEPT the Offer

September 5, 2018

Vancouver, BC, / Fujian, China -- Nevsun Resources Ltd. (TSX:NSU) (NYSE AMERICAN: NSU) ("Nevsun" or the "Company") and Zijin Mining Group Co. Ltd. (SH:601899, SEHK:2899) ("Zijin") today announced that the parties have entered into a definitive agreement pursuant to which Zijin will make a take-over bid to acquire all of the issued and outstanding shares of Nevsun for C$6.00 per share in cash (the "Offer"). The Offer is valued at C$1.86 billion (US$1.41 billion).

The cash consideration of C$6.00 per share represents a premium of 57% over Nevsun's unaffected closing price of C$3.82 on May 7, 2018, the day Lundin Mining Corporation ("Lundin") first publicly announced its intention to acquire Nevsun. In addition, the Offer is C$1.25 per Nevsun share, or 26%, more than the C$4.75 per share hostile take-over bid for Nevsun launched by Lundin on July 26, 2018. The Offer is not subject to any financing conditions.

Nevsun management will host a conference call and webcast today (September 5, 2018) at 7:00am in Vancouver, 10:00am in Toronto/New York, 3:00pm in London to discuss the Offer from Zijin. Please call in at least five minutes prior to the conference call start time to ensure prompt access to the conference. Dial in details are as follows:

North America (toll free): 1 888-231-8191
UK (toll free): 0-800051-7107
Other International: [phone]

The conference call will be available for replay by phone until September 12, 2018 by calling 1 888-859-2056 / 416-849-0833 and entering passcode 1553148 #.

Webcast

A live audio webcast of the conference call will be available on the Company's website http://www.nevsun.com or by clicking here.



Read more at:
https://www.nevsun.com/news/2018/september5/