Nevsun Exceeds Production Guidance and Extends Gold Production

Nevsun Resources Ltd. (TSX:NSU)(NYSE MKT:NSU) -

2012 HIGHLIGHTS

  • Produced 313,000 ounces of gold in 2012, exceeding the top end of guidance
  • Gold production forecast extended to the end of Q2 2013
  • Copper expansion managed on schedule and budget for mid-2013 commissioning
  • Continued peer leading semi-annual dividend of $0.05 per share
  • Increased resource and reserve estimates from 2011/2012 drilling
  • Obtained the Harena deposit mining license and commenced mining
  • Strong exploration drill results extended drilling program at Northwest Zone
  • Acquired the Mogoraib exploration license including the Hambok historical resources

Q4 2012 HIGHLIGHTS

  • Produced 46,000 ounces of gold in Q4 2012
  • Processed 447,000 tonnes of ore at 3.85 g/t gold
  • Overall metallurgical recoveries at 84% of contained gold

Nevsun Resources Ltd. is pleased to announce strong production results of 313,000 ounces of gold for 2012 with 46,000 ounces in the quarter ended December 31, 2012. Gold production for 2012 exceeded the top end of the latest guidance. Bisha gold production is again extended and is now anticipated to continue to the end of Q2 2013, aligning well with the planned commissioning of the copper expansion project.

A summary of the Company's quarterly and full year operating results is as follows:

Q4 2012
3 months
ending
December 31
Q3 2012
3 months
ending
September 30
Q2 2012
3 months
ending
June 30
Q1 2012
3 months
ending
March 31
2012
12 months
ending
December 31
Mining
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