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GEOLOGICAL EXPLORATION REPORT FOR THE TIMOK LOWER ZONE PROJECT

Company Nevsun is pleased to announce new analysis results obtained from the recently completed research program of the Timok Lower Zone, in which $ 20 million was invested.

Highlights:

  • Drill hole TC 170177 with 556.8 m grading, starting at 1,310 m contains the following average grades: 1.00% copper and 0.20 g/t gold, including 177 m grading an average of 1.45% copper and 0.32 g/t gold;
  • Drill hole TC 170187 with 558 m grading, starting at 1,366 m contains the following average grades: 0.91% copper and 0.18 g/t gold, including 309 m grading an average of 1.00% copper and 0.19 g/t gold;
  • Drill hole TC 170181 with 390 m grading, starting at 1,106 m contains the following average grades: 0.97% copper and 0.14 g/t gold, including 117 m grading an average of 1.35% copper and 0.22 g/t gold;
  • Drill hole TC 170181 with 312 m grading, starting at 1,583 m contains the following average grades: 1.06% copper and 0.21 g/t gold, including 165 m grading an average of 1.47% copper and 0.32 g/t gold;
  • Drill hole TC 170185 with 174 m grading, starting at 1,411 m contains the following average grades: 1.32% copper and 0.17 g/t gold, including 108 m grading an average of 1.87% copper and 0.23 g/t gold.

Up to this point, 84 drill holes have been developed in the Lower Zone, 78 of which have a total depth of 90.571 meters, and they are within the deposit footprint. The final Lower Zone dimensions are yet to be defined, although it is known that the zone is approximately 2,000 m long, 1,100 m wide and 1,400 m deep. The Lower Zone is predisposed to expand both further to the north and down-deep. The metal mineralization starts at about 700 m below the earth’s surface and is tested at a depth of 2,268 m.