June 2018

Project Čukaru Peki Overview

NEVSUN RESOURCES OPERATIONS IN SERBIA

• Rakita Exploration:o Čukaru Peki copper-gold project

o Four exploration permits (Leskovo,Jasikovo, Brestovac West and Brestovac Metovnica)

o JV with Freeport-McMoRan

• Tilva Exploration:

o Four exploration permits (Coka Kupijatra, Tilva Njagra, Nikolicevo and Kraljevica)

o JV with Rio Tinto

• Seven exploration permits that are 100% owned by Nevsun

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Pre Discovery Exploration Program Exploration Started in mid 2000’s

Discovery Hole

PFS

FS

27 Feb’18

Complete

Over 200,000 meters of exploration drilling

30,000 meters drilling

program

Approved

PFS

mid 2000's 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Exploration Decline Construction

FMTC 1210 1.23% CuEq0.28 Au/t from 598 to

864 m (266m)

Exploration Decline

ČUKARU PEKI PROJECT’S TIMELINE

Exploration Program

Feasibility Study

In progress

EXPLORATION DECLINE

• 5x5m Access Decline (tunnel) 2,630 meters in length at -14% gradient

• Parallel 5x5m Egress/Ventilation Tunnel to the west, distance 30m and same length and gradient

• Declines are interconnected on 300m intervals for ventilation, traffic flow and emergency egress

• Access the orebody will be gained on the -100m level

• Estimated two year construction period

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ČUKARU PEKI UPPER ZONE (UZ) PFS HIGHLIGHTS

• 10 year mine life producing over 1.7 billion pounds of payable copper

• Sub-level cave mining with 3.25 million tones per annum

• The Probable Reserve for the Upper Zone is estimated to be 27 million tones

• Average grade of 3.3% copper and 2.1g/t gold

• Containing 0.89 million tonnes of copper and 1.8 million ounces of gold.

• FS expected to be completed in 2019

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ČUKARU PEKI LOWER ZONE (LZ) HIGHLIGHTS • Currently Nevsun owns 60.4% with Freeport-

McMoRan Exploration Corporation ("Freeport") 39.6%

• Upon completion of a feasibility study (on the Upper or Lower Zone), Nevsun will indirectly own 46% of the Lower Zone and Freeport will indirectly own 54%

• Porphyry-type mineralization characterized by chalcopyrite-pyrite and minor bornite and molybdenite

• The top mineralization occurs at 1400 metres in the west to 750 metres in the east

• Current dimensions of the mineralized zone are approximately 2,000 metres long by 1,100 metres wide by 1,400 metres high.

• An initial 43-101 resource on the Lower Zone is expected later in 2018

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TRANSPORT NETWORK

• Rail and road connections to river or ocean ports in the region

• Shipping containers considered as suitable option to minimize the environmental impact and closed off storage needs

• FS level transport study to be completed in 2018

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MODERN MINE INITIATIVE- ČUKARU PEKI UZ We are implementing the backbone for a digital mine, and have sight on several technologies that we will evaluate opportunities to implement as the project progresses

ConnectivityUtilizing connectivity to manage data flow and real-time systems

Ventilation-on-DemandDeveloping programmable

ventilation systems that operate on real-time need basis

Plant Factory - MineRPDigital planning and re-planning of

mining operations

Integrated Data and Monitoring Integrated data that allows leveraging data analytics across various functions

ElectrificationUsing electric powered (e.g., battery) ancillary and production equipment

Short Interval ControlProcesses and protocols to make real-time

decisions

Intelligent PPESmart helmet that prevent safety incidents by providing real time

information

Operational Efficiency MeasuresFocusing on operational excellence

through various measures (e.g., predictive maintenance, ore analysis, etc.)

Confirmed for implementation

To be evaluated for implementation

AutomationUsing automated controls and machinery

to reduce operational costs

COMMUNITY ENGAGEMENT

Programs:

• Economic empowerment of women

• Supporting the IT entrepreneurship

• Environmental cleanup programs

• Community assistance

• Early childhood education-cooperation with Novak Djokovic Foundation

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THANK YOU!

More information at:

www.rakita.net

and

www.nevsun.com

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