Commodities Buzz: Lundin Mining and Euro Sun Disclose Proposal to Acquire Nevsun Resources

Lundin Mining Corporation, and Euro Sun Mining Inc. announced that they have submitted a proposal to Nevsun Resources Ltd. to acquire all of Nevsuns outstanding common shares for approximately C$ 1.5 billion. This Proposal has been rejected by Nevsun. Lundin Minings numerous attempts to engage Nevsun and propose a mutually beneficial transaction have been unsuccessful.

Working together, Lundin Mining and Euro Sun have identified a way to create significant value. Under the terms of the Proposal, dated April 30, 2018. The Proposal would result in Lundin Mining owning the European assets of Nevsun including the Timok project and Euro Sun owning the remainder of Nevsun including the Bisha mine and Nevsuns cash balance.

Lundin Mining and Euro Sun believe strongly that the Proposal should be shared with all Nevsun shareholders. Lundin Mining and Euro Sun believe that the Proposal is extremely compelling for all Nevsun shareholders and represents a fully valued offer for Nevsun. The C$ 5.00 per share value of the total consideration represents a 40% premium to Nevsuns closing price on April 30, 2018 on the Toronto Stock Exchange, a 54% premium to Nevsuns 30-day volume weighted average price on the TSX for the period ended April 30, 2018, and a 92% premium to Nevsuns closing price of C$ 2.61 on the TSX on February 6, 2018, the day prior to Lundin Minings initial offer.