Euro Sun Amends Its Portion of Proposal to Acquire Nevsun to 50% Cash and 50% Stock
EURO SUN AMENDS ITS PORTION OF PROPOSAL TO ACQUIRE
NEVSUN TO 50% CASH AND 50% STOCK
Toronto, Ontario, Jun 4th , 2018 - Euro Sun Mining Inc. ( TSX: ESM ) (“Euro Sun” or the
“Company”) reports that the Company has amended its portion of the joint proposal with Lundin
Mining (TSX: LUN) to acquire Nevsun Resources (TSX: NSU) to include CDN$150 million in
cash and CDN$150 million in ESM stock. The Company encourages Nevsun’s management
and Board of Directors to engage as it is in the best interests of all stakeholders. The total
proposed consideration of CDN$5.00 per share for the acquisition of all Nevsun stock includes
CDN$150M cash from Euro Sun and CDN$600M cash from Lundin Mining along with
CDN$150M in Euro Sun stock and CDN$600M in Lundin Mining stock. Euro Sun’s stock portion
only represents 10% of the total consideration in this proposal.
Since making the proposal public on May 7 th, 2018 numerous meetings have been held with
shareholders of Nevsun, both in person and via teleconference. To date shareholders
representing over 30% of Nevsun shares outstanding have expressed support for the Euro Sun
led offer and encourage all parties to actively engage in a friendly transaction.
G. Scott Moore, President and CEO of Euro Sun stated: “We are ready and willing to engage
with Nevsun in friendly and meaningful discussions to conclude a transaction in the best
interests of all s takeholders. We have extensive operational experience across Africa and look
forward to meaningful investment into Eritrea and the Bisha mine allowing it to meet its full
potential”.
The Rovina Valley Project is one of the largest mineral deposits on the Western Tethyan
mineral belt and consists of three porphyry deposits: Colni c and Rovina, and Ciresta, The
project hosts measured and indicated mineral resources of 7.2 million ounces of gold and 1.4
billion pounds of copper in 406 million tonnes at 0.55 gold grams per tonne and 0.16% of
contained copper.
Euro Sun is the first mining company to be granted an exploitation license without a state
partner. Ratification of the mining license is expected to be completed with signatures from the
required ministries shortly and this ratification will demonstrate a clear mandate for mining by
the Romanian Government.
Qualified Person
The scientific and technical information presented in this press release has been reviewed and
approved by Randall Ruff, Vice Presi dent Exploration for Euro Sun, who is a Qualified Persons
as defined by National Instrument 43-101.
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and
development of its 100% -owned Rovina Valley gold and copper project located in west -central
Romania, which hosts the second largest gold deposit in Europe.
Further information:
Investor Relations at [email protected] or +1 416.309.4299.
Caution regarding forward -looking information: This press release contains "forward-looking
information" within the meaning of applicable Canadian securities legislation. Forward-looking information
is subject to known and unknown risks, uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking information, including risks inherent in the mining industry
and risks described in the public disclosure of the Company which is available under the profile of the
Company on SEDAR at www.sedar.com and on the Company's website at www.eurosunmining.com.
Although the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no assurance that such information
will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
The Company does not undertake to update any forward-looking information, except in accordance with
applicable securities laws.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.