[dehai-news] (Marketwire) ERITREA: Nevsun Resources Ltd.: Management Appointments


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From: Biniam Haile \(SWE\) (eritrea.lave@comhem.se)
Date: Tue Aug 19 2008 - 19:44:05 EDT


http://www.marketwire.com/press-release/Nevsun-Resources-Ltd-TSX-NSU-891
346.html
 
Aug 19, 2008 17:14 ET

Nevsun Resources Ltd.: Management Appointments
 
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 19, 2008) - Nevsun
Resources Ltd., (TSX:NSU)(AMEX:NSU) ("Nevsun") is pleased to announce an
executive management re-structuring and the appointment of an Executive
Vice President with responsibility to take the Company forward to
develop the Bisha Project in Eritrea.
 
Trevor A. Moss has been hired as Executive Vice President of the Company
effective immediately. Mr. Moss, a qualified civil engineer, has
considerable project development experience gained with major mining
companies, junior developers and international contractors including
Cyprus Amax, Barrick, Tiberon, Gabriel Resources and Aker Kvaerner. Mr.
Moss will be responsible for the corporate oversight of the Bisha
project development team and will be driving to complete the project in
a timely, cost effective manner.
 
Cliff Davis has been appointed President and Chief Executive Officer,
taking over from John Clarke who is staying on as Vice Chairman to the
Board of Directors. Mr. Davis, previously the Executive Vice President
and CFO for the past several years, will be succeeded as CFO by Peter
Hardie, a chartered accountant who has been with the Company since early
2005.
 
Stuart (Tookie) Angus remains as the Chairman of the Board of Directors
and its Special Committee.
 
The new CEO, Cliff Davis, stated, "I am pleased to accept this increased
responsibility and welcome Trevor Moss to the company team. With this
additional leadership and experience, together with our existing team of
professionals in Eritrea, and Government support, I believe we are well
positioned to progress the $250 million Bisha Project. Our immediate
focus is to secure project debt so as to add to the approximately $60
million cash on hand. On behalf of the Board of Directors I wish to
thank John for his contribution these past 11 years."
 
Forward Looking Statements: The above contains forward-looking
statements concerning the future of the company's Bisha project in
Eritrea. 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.
 
On behalf of the Board
 
Cliff T. Davis, President & Chief Executive Officer
 
 
 

 

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