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Press release from Marketwire

Nevsun Provides Eritrea Update

Monday, January 21, 2013

Nevsun Provides Eritrea Update14:41 EST Monday, January 21, 2013VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2013) - Nevsun Resources Ltd. (TSX:NSU)(NYSE MKT:NSU) advises that its Bisha Mine in western Eritrea continues operations as normal. Following reports earlier today by international news agencies, of a small group of dissident soldiers taking-over the ministry of information building in the capital city of Asmara, we have received confirmation that the city is calm. Forward Looking Statements The above contains forward-looking statements regarding future operations and developments in the State of Eritrea. Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes," "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 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, the risks that (i) any of the assumptions in the historical resource estimates turn out to be incorrect, incomplete, or flawed in any respect; (ii) the methodologies and models used to prepare the resource and reserve estimates either underestimate or overestimate the resources or reserves due to hidden or unknown conditions, (iii) the mine operations are disrupted or suspended due to acts of god, internal conflicts in the country of Eritrea, unforeseen government actions or other events; (iv) the Company experiences the loss of key personnel; (v) the mine operations are adversely affected by other political or military, or terrorist activities; (vi) the Company becomes involved in any material disputes with any of its key business partners, lenders, suppliers or customers; (vii) the Company is subjected to any hostile takeover or other unsolicited attempts to acquire control of the Company; (viii) the Company is subject to any adverse ruling in any of the pending litigation to which it is a party; or (ix) the Company incurs unanticipated costs as a result of the transition from the oxide phase of the Bisha mining operations to the copper phase in 2013. Other risks are more fully described in the Company's most recent Management Discussion and Analysis, which is 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 forward-looking statements.Please see the Company's Annual Information Form for the fiscal year ended December 31, 2011 and the Company's Management Discussion and Analysis for the quarter ended September 30, 2012 for a more complete discussion of the risk factors associated with our business.About Nevsun Resources Ltd.Nevsun Resources Ltd. is a Vancouver-based mining company with an operating mine in Eritrea. Nevsun's 60%-owned Bisha Mine commenced gold production in February 2011 and is scheduled to transition to copper/gold production in 2013. Management expects the Bisha Mine will rank as one of the highest grade open pit base metal deposits in the world.NEVSUN RESOURCES LTD.Cliff T. Davis, President & Chief Executive Officer FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Kin Communications604 684 6730 or Toll free: 1 866 684 6730NSU@kincommunications.comwww.nevsun.com