VANCOUVER, Sept. 8, 2016 /PRNewswire/ - Nevsun
Resources Ltd. (TSX:NSU) (NYSE MKT:NSU) (the "Company" or "Nevsun")
announces that it has sold and shipped the first zinc concentrate
product from the Bisha mine in Eritrea. The ten thousand tonne
lot was loaded at the Port of Massawa and sailed on September 7, 2016. The concentrate was sold on
the spot market, attracting multiple offers and highly competitive
treatment charges.
The Bisha mine completed the zinc flotation plant expansion
earlier in 2016 on-time and under-budget. The plant allows
Bisha to produce separate copper and zinc concentrates
simultaneously from processing primary ore from the Bisha open pit
mine.
Cliff Davis, Nevsun CEO
commented, "We are pleased to have a high quality zinc product
coming to market in an environment of rising zinc prices.
Bisha is the only significant new zinc concentrate coming to market
in 2016 and we are being aggressively courted for offtake by
various customers. We would like to congratulate our partner, the
State of Eritrea, for adding
another export product to the economy and thank them for their
support."
Nevsun is scheduled to load additional shipments in the coming
weeks and is ramping up to commercial production which is forecast
for Q4 2016.
About Nevsun Resources Ltd.
Nevsun Resources Ltd. is the 60% owner of the high grade Bisha
Mine in Eritrea. Bisha has nine years of reserve life,
generating revenue from both copper and zinc concentrates
containing gold and silver by-products. Nevsun has a strong
balance sheet, no debt and pays a peer leading quarterly dividend.
Nevsun is well positioned to grow shareholder value through
exploration at Bisha and the newly acquired Serbian assets that
include the high-grade copper-gold Timok Project.
Forward Looking Statements
The above contains forward-looking statements or
forward-looking information within the meaning of the United States
Private Securities Litigation Reform Act of 1995, and applicable
Canadian securities laws. 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
concerning the Company's current beliefs, plans and expectations
about the future including but not limited to commercial
production, future production of copper and related cash flows and
other events or conditions that may occur in the future, and are
inherently uncertain. The 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) exploration activities or the mine operations are
disrupted or suspended due to acts of god, internal conflicts in
the country of Eritrea or Serbia,
unforeseen government actions or other events; (iv) the Company
experiences the loss of key personnel; (v) the Company incurs
unanticipated plant or production interruptions due to power
interruptions or failures, electrical or other plant equipment
malfunctions, fuel supply interruptions, fuel quality or due to
other factors that impact production or mining operations, (vi) the
Company experiences shipping delays for equipment or replacement
parts that may be required to complete repairs on a timely basis
that could impact production or mining operations;
(vii) the Company's operations or exploration activities are
adversely affected by other political or military, or terrorist
activities; (viii) the Company becomes involved in any material
disputes with any of its key business partners, suppliers or
customers; (ix) the Company is subjected to any hostile takeover or
other unsolicited attempts to acquire control of the Company; * the
Company is subject to any adverse ruling in any of the pending
litigation to which it is a party; (xi); and other risks are more
fully described in the Company's Annual Information Form for the
fiscal year ended December 31, 2015,
which are 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 the Company's forward-looking
statements.Further information concerning risks and
uncertainties associated with these forward-looking statements and
our business can be found in our Annual Information Form for the
year ended December 31, 2015, which
is available on the Company's website
(www.nevsun.com), filed under our profile on SEDAR
(www.sedar.com) and on EDGAR
(www.sec.gov) under cover of Form 40-F.
NEVSUN RESOURCES
LTD.
"Cliff T.
Davis"
Cliff T. Davis
President & Chief Executive Officer
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SOURCE Nevsun Resources Ltd.