October 30, 2009 VANCOUVER, BRITISH COLUMBIA-- Nevsun Resources Ltd. ("Nevsun") (TSX:NSU)(NYSE Amex:NSU) is pleased to announce that it has completed its non-brokered private placement financing of 11,500,000 common shares at Cdn$2.85 as reported on October 20, 2009. The common shares sold in the private placement are subject to a Canadian hold period that expires on March 1, 2010. The common shares sold in the United States or to, or for the account or benefit of, U.S. persons are subject to additional resale restrictions under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). Forward Looking Statements: The above contains forward-looking statements concerning anticipated production, timing and the support of the Eritrean government. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "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 about the future and are inherently uncertain, and 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, those described in the Management Discussion and Analysis of the Company. 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. For the reasons set forth above, investors should not place undue reliance on forward-looking statements. NEVSUN RESOURCES LTD. Cliff T. Davis President & Chief Executive Officer For more information, please contact
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