Nevsun Resources Ltd.: Bisha Project Finance Approvals-US$235 Million

VANCOUVER, BRITISH COLUMBIA, Jul 13 (MARKET WIRE) --
Nevsun Resources Ltd. (TSX: NSU)(NYSE Amex: NSU) is very pleased to
announce that its Bisha Project in Eritrea has received all required
credit approvals from the project finance lenders for debt facilities
totaling $235 million. Documentation of the facilities has been
progressing in parallel and financial close is expected shortly. All
amounts are expressed in United States dollars.

The debt package is a mix of senior and subordinated loans from a lending
group comprised of seven institutions from Europe and South Africa. The
arrangements include an available cost over-run facility of $30 million
that will be in addition to a contingency allowance of $32 million in the
budget. The Project is now more than one third completed, and the
forecast cost to complete remains on budget.

Endeavour Financial is the Company's project finance advisor.

At recent metal prices, the Project is expected to generate enough cash
in the first two and a half years to repay all debt facilities, as well
as fund the copper phase mine expansion during the same period. The
projected operating cash costs for gold production are estimated to be
less than $230/oz, including royalties. The after tax internal rate of
return of the Project, using recent metal prices and including the cost
of finance, is approximately 54%.

The mine is expected to start producing gold in Q3 2010. A recent update
on the Project itself can be found in the Company's Q1 MD&A and news
release dated May 13, 2009. Photographs of progress can be found on the
Nevsun web site at - http://www.nevsun.com/properties/photo_gallery/.

The Company looks forward to progressing Bisha through to production with
the continued full support of the Eritrean Government.

Forward Looking Statements: The above contains forward-looking statements
concerning Eritrean government support, production schedule, details of
the debt package and payback time, operating costs and costs to project
completion, metals price projections and assumptions. 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

Contacts:
Nevsun Resources Ltd.
John Clarke
(604) 623-4700 or 1-888-600-2200
nevsuninfo@nevsun.com
www.nevsun.com

Copyright 2009, Market Wire, All rights reserved.

-0-