Bisha Mining Share Company

Bisha Mining is an Eritrean company formed for the development and operation of the Bisha Mine in western Eritrea. It is owned by Nevsun Resources Ltd. (60%) and the Eritrean National Mining Corporation (ENAMCO) (40%). The Bisha Mine is a high-grade copper, gold, silver and zinc mine that commenced production in February 2011. The Bisha Mine has received continuous support from the Eritrean government, who granted the Company's mining license in January 2008. The project is the first modern mine in Eritrea. After two years of low cost gold production, the Bisha Mine transitioned to low-cost, high-grade copper production in 2013. In 2015 the Mine will start zinc production which will run for the remaining 11 years of reserve life. Further resource potential exists at depth and from nearby discoveries within the Company's licensed areas.