Nevsun Corporate Update

Nevsun Resources NSU announces that the Company continues to work towards finalizing its arrangements regarding the purchase of 30% of the company by the Eritrean National Mining Corporation (ENAMCO) from Nevsun. The Company had previously given guidance on May 3 that the purchase price would be determined by June 30, 2011. The price determination is subject to a process involving two independent international institutions that have now submitted their draft reports. Nevsun and ENAMCO are reviewing the results and will advise when the amount is finalized.