Nevsun Declares Semi-Annual Dividend of US$0.05 Per Share and
Resignation of Director
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/15/12 -- Nevsun
Resources Ltd. (TSX:NSU)(NYSE MKT:NSU) (the "Company") is pleased to
advise that its Board of Directors has declared a semi-annual cash
dividend of US$0.05 per common share (US$0.10 per common share
annually). The dividend is payable on January 15, 2013 to
shareholders of record as of the close of business on December 31,
2012. The Company first established a dividend policy in May 2011,
soon after achieving commercial production from its Bisha mining
operation in Eritrea. This is the fourth dividend payment under the
Company's progressive dividend policy.
"The dividend policy confirms our focus on generating cash flow from
operations. Nevsun has a strong balance sheet and is very well
positioned to grow and provide a long-term dividend return to
shareholders," said Cliff Davis, CEO.
This dividend qualifies as an 'eligible dividend' for Canadian income
Resignation of Director
The Company also advises that Anthony Ferguson has resigned from the
Board of Directors to concentrate his efforts on other business
interests. The Nevsun Board thanks Mr. Ferguson for his contributions
and wishes him well in his endeavors.
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
Forward Looking Statements: The above contains forward-looking
statements regarding future cash flow, the growth potential of the
company and future dividend payments. 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
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
NEVSUN RESOURCES LTD.
Cliff T. Davis, President & Chief Executive Officer
604 684 6730 or Toll free: 1 866 684 6730
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