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Nevsun Resources
Ltd. (TSX:NSU)(AMEX:NSU) ("Nevsun") is
pleased to announce that it has closed the sale of all of its interests in
properties in Mali, including the Tabakoto Mine,
the Segala property and related Malian exploration
properties to Avion Resources Corp. (TSX
VENTURE:AVR) for US$20 million plus a 1% net smelter return royalty on future
production.
Genuity Capital
Markets was Nevsun's advisor in connection with the
sale. An advisory fee of $362,500 is payable to Genuity
in shares of the Company.
The $20
million will go towards Nevsun's share of the
development costs for its Bisha project in Eritrea.
Forward
Looking Statements:
The above contains forward-looking statements concerning finance commitments
and requirements, strength of cash position, continued support of Eritrean
government and assumptions contained within "Project Economics".
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.
Dr. John A. Clarke
President & Chief Executive Officer
For further
information, please contact:
Nevsun Resources Ltd.
Judy Baker
Investor Relations
(416) 786-7860
or
1-888-600-2200
Email: nevsuninfo@nevsun.com
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