Nevsun Reports Lower Zone Drill Results at Timok

VANCOUVER, Nov. 22, 2016

HIGHLIGHTS

• New porphyry copper intersections include:
  • TC150073 / TC160073B: 686.0m @ 0.89% Cu, 0.16g/t Au from 1,104m;
    • including 280.0m @ 1.11% Cu, 0.18g/t Au
    • and 102.0m @ 1.00% Cu, 0.17g/t Au
    • and 58.0m @ 1.26% Cu, 0.28g/t Au
    • and 60.0m @ 1.16% Cu, 0.16g/t Au
  • TC150075: 717.3m @ 0.65% Cu, 0.16g/t Au from 1,502m;
    • including 214.0m @ 1.00% Cu, 0.24g/t Au
    • and 24.0m @ 1.00% Cu, 0.30g/t Au
• Example historic intersections include:
  • TC150060: 835.0m @ 0.92% Cu, 0.22g/t Au from 1,258m
  • TC140054/54A: 705.8 @ 0.91% Cu, 0.26g/t Au from 1,498m
• Further drilling ongoing with a target of 67,000m of step-out and infill drilling
• Drilling estimated to be completed in late 2017 with a maiden resource to follow
• Near vertical holes designed to intersect the porphyry mineralization at 90 to 100% of true width

Nevsun CEO Cliff Davis commented, "The assays reported today demonstrate the tremendous potential of the Timok Lower Zone mineralization.  These holes were drilled prior to the Company acquiring its interest in the Timok Project and were recently assayed.  With our joint venture partner, Freeport-McMoRan, we have embarked on a $20 million drilling program focused on the Lower Zone porphyry.  The results from these holes will be used, along with historical and ongoing drilling, to generate a maiden resource for the Lower Zone."

Timok Copper-Gold Project

The Timok Copper-Gold Project is located in eastern Serbia near the Bor mining and smelting complex. The Project is focussed on the Cukaru Peki ("Timok") deposit which includes the high grade Upper Zone, characterized by massive and semi-massive sulphide mineralization and the Lower Zone, characterized by porphyry-style mineralization. 

This news release is solely about the Lower Zone. For recent information on the Upper Zone, please refer to the Company's news release dated October 17, 2016.

Lower Zone