VANCOUVER, Oct. 6, 2016 /CNW/ - Nevsun Resources
Ltd. ("Nevsun") (TSX: NSU) (NYSE MKT: NSU) advises that the
British Columbia Supreme Court has refused to permit a claim
against Nevsun to proceed as a common law class action. The court
did permit the lawsuit by the three named plaintiffs to
continue.
Today's court decision addresses only preliminary legal
challenges to the action raised by Nevsun. The judgment makes
no findings with respect to the plaintiffs' allegations, including
whether any of them were in fact at the Bisha Mine. The judge also
emphasized that the case raises novel and complex legal questions,
including on international law, which have never before been
considered in Canada.
Nevsun is studying the court's decision and considering an
appeal of the decision that the action can proceed at all.
Nevsun remains confident that its indirect 60%-owned Eritrean
subsidiary, Bisha Mining Share Company ("BMSC") operates the Bisha
Mine according to international standards of governance, workplace
conditions, health, safety and human rights. There are contractual
commitments in place that strictly prohibit the use of national
service employees by BMSC's contractors and subcontractors.
BMSC is committed to managing the Bisha Mine in a safe and
responsible manner that respects the interests of local
communities, workers, stakeholders and the natural
environment. Nevsun's and BMSC's commitment to corporate
social responsibility is detailed in Nevsun's 2015 Corporate Social
Responsibility report, available at this link:
http://nevsuncsr.com/wp-content/uploads/2016/05/NevsunCSR-2015_Digital.pdf.
Nevsun and its partner, Eritrean National Mining Corporation, also
commissioned a 2015 human rights audit of the Bisha Mine which is
available at this link:
http://nevsuncsr.com/wp-content/uploads/2015/07/Bisha-HRIA-Audit-2015.pdf
About Nevsun Resources Ltd.
Nevsun Resources Ltd. is the 60% owner of the high grade Bisha
Mine in Eritrea. Bisha has over nine years of reserve life,
generating revenue from both copper and zinc concentrates
containing gold and silver by-products. Nevsun has a strong
balance sheet with no debt and pays a peer leading quarterly
dividend. Nevsun is well positioned to grow shareholder value
through exploration at Bisha and the newly acquired Serbian assets
that include the high-grade copper-gold Timok Project.
Forward-Looking Statements
The above contains forward-looking statements or
forward-looking information within the meaning of the United States
Private Securities Litigation Reform Act of 1995, and applicable
Canadian securities laws. Forward-looking statements are
frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "hopes", "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 concerning the Company's current beliefs, plans and
expectations about the future, including but not limited to
statements and information made concerning: statements relating to
the business, prospects and future activities of, and developments
related to the Company, anticipated dividends, goals, strategies,
future growth, planned future acquisitions and explorations
activities, the adequacy of financial resources and other events or
conditions that may occur in the future, and are inherently
uncertain. The actual achievements of the Company or 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, the
risks that the Company is subject to any adverse ruling in any of
the pending litigation to which it is a party and other risks are
more fully described in the Company's Management Information
Circulars dated May 18, 2016 with
respect to the proposed arrangement between Reservoir Minerals Inc.
and Nevsun, and the Company's Annual Information Form for the
fiscal year ended December 31, 2015,
which are incorporated herein by reference. 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, except as required by law. For the
reasons set forth above, investors should not place undue reliance
on the Company's forward-looking statements.
Further information concerning risks and uncertainties
associated with these forward-looking statements and our business
can be found in our Annual Information Form for the year ended
December 31, 2015, which is available
on the Company's website (www.nevsun.com), filed
under our profile on SEDAR (www.sedar.com) and on
EDGAR (www.sec.gov) under cover of Form 40-F.
NEVSUN RESOURCES
LTD.
"Cliff T.
Davis"
Cliff T. Davis
President & Chief Executive Officer
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SOURCE Nevsun Resources Ltd.