Nevsun Resources is the 100% owner of the high-grade copper -gold Timok Upper Zone and 60.4% owner of the Timok Lower Zone in Serbia. The Timok Lower Zone is a partnership with Freeport, which currently owns 39.6% and upon completion of any Feasibility Study, Nevsun Resources will own 46% and Freeport will own 54%. Nevsun generates cash flow from its 60% owned copper-zinc Bisha Mine in Eritrea. Nevsun is well positioned with a strong debt-free balance sheet to grow shareholder value through advancing Timok to production.

1. A LEADING DIVERSIFIED
MID-TIER MINER
CORPORATE PRESENTATION
FEBRUARY/MARCH 2018
TSX &
NYSE AMERICAN NSU

2. 2
These risks, uncertainties and factors include general business, economic, competitive, political,
regulatory and social uncertainties; actual results of exploration activities and economic
evaluations; fluctuations in currency exchange rates; changes in project parameters; changes in
costs, including labour, infrastructure, operating and production costs; future prices of copper,
gold, zinc, silver and other minerals; resource estimates and variations of mineral grade or
recovery rates; metallurgical challenges; operating or technical difficulties in connection with
exploration; land acquisition; mining method, production profile and mine plan; other
development or mining activities, including the failure of plant, equipment or processes to
operate as anticipated; delays in exploration, development and construction activities; changes
in government legislation and regulation; the ability to maintain and renew existing licenses
and permits and the ability to obtain other required licences and permits in a timely manner or
at all; the ability to obtain financing on acceptable terms and in a timely manner or at all;
contests over title to properties; employee relations and shortages of skilled personnel and
contractors; the speculative nature of, and the risks involved in, the exploration, development
and mining business; and other factors and risks discussed in the Company’s AIF and MD&A.
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 the Company’s
forward-looking statements.
Further information concerning risks and uncertainties associated with these forward-looking
statements and our business can be found in our AIF for the year ended December 31, 2016,
which is available on the Company’s website (www.nevsun.com), filed under our profile on
SEDAR (www.sedar.com) and on EDGAR (www.sec.gov) under cover of Form 40-F.
FORWARD LOOKING STATEMENT
This Presentation contains forward-looking statements or forward-looking information within
the meaning of the United States Private Securities Litigation Reform Act of 1995, and
applicable Canadian securities laws. All statements, other than statements of historical facts, are
forward looking statements including statements with respect to the Company’s continuing
and future operations in Eritrea, Serbia and elsewhere that the Company has operations or
business interests.
Forward-looking statements are frequently, but not always, identified by words such as
“expects”, “anticipates”, “believes”, “hopes”, “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 concerning the
Company’s current beliefs, plans and expectations about the future, including but not limited
to statements and information made concerning: statements relating to the business, prospects
and future activities of, and development plans related to the Company, anticipated dividends,
goals, strategies, future growth, exploration activities, the adequacy of financial resources and
other events or conditions that may occur in the future.
These forward-looking statements are based on a number of assumptions which, while
considered reasonable by the Company, are subject to risks and uncertainties. In addition to
the assumptions contained herein, these assumptions include the assumptions described in the
Company’s Annual Information Form (“AIF”) and the Company’s management's discussion and
analysis for the year ended December 31, 2016 ("MD&A"). The Company cautions readers that
forward-looking statements involve and are subject to known and unknown risks, uncertainties
and other factors which may cause actual results, performance or achievements to differ
materially from those expressed in or implied by such forward-looking statements and forward-
looking statements are not guarantees of future results, performance or achievement.

3. 3
A LEADING DIVERSIFIED MID-TIER MINER
Portfolio of base metal assets to drive growth
Bisha is an operating open pit mine
located in Eritrea. 60% owned by Nevsun
and 40% by ENAMCO (State of Eritrea).
Production of zinc and copper
concentrates. Mine life to mid-2021.
BISHA MINE
Nevsun is the 100% owner of the high-
grade copper-gold Timok Upper Zone and
60.4% owner of the Timok Lower Zone in
Serbia. The Timok Lower Zone is a
partnership with Freeport, which currently
owns 39.6%.
TIMOK PROJECT
During 2018, Nevsun is investing $5M in
exploration for the Upper and Lower Zones
at Timok in Serbia and $7M for 15,000m of
exploration drilling at Bisha in Eritrea.
EXPLORATION

4. 4
INVESTMENT HIGHLIGHTS
A leading diversified mid-tier miner with a portfolio of base metal assets to drive growth
Upper Zone PEA $US1.5B NPV and
50% IRR (after tax). Follow up PFS in
Q1’18 and FS in H1’19. Exploration
decline to start in Q1’18.
Exploration for more UZ deposits
underway.
HIGH GRADE CU-AU
PROJECT IN TIMOK
LOW RISK ZN-CU CASH
FLOW FROM BISHA
210 to 240 million lbs of zinc at C1
cash cost of $0.70 to 0.90/lb in
2018. Upside from large resource
base and regional greenfield
exploration for near surface
deposits.
STRONG BALANCE SHEET
TO FUND GROWTH
~US$151 million in cash and no
debt at Q3’17.
TRACK RECORD OF
SUCCESS
Nevsun and management have a
track record of successful mine
building and delivering value to all
stakeholders

5. TIMOK
PROJECT
Timok, a world class large high grade copper-gold deposit, is located in the
historic Bor mining district in Serbia within close proximity to existing mining
infrastructure.

6. 6
SERBIA: GREAT PLACE TO BUILD A MINE
Supportive government, fiscal and regulatory environment supportive of foreign investment
• Committed to increasing GDP contribution from mining from 2%
to 5% by 2020
• No restrictions on foreign ownership
• 10-year tax holiday available for large capital investments
• Dec 2015 updated mining code
• Aspiring EU member country
STRONG FEDERAL GOVERNMENT SUPPORT
01
The earliest known copper mining was as early as 5500 BC. The state-
owned copper/gold RTB Bor mine and smelter has been in operation
since the early 1900’s. There are currently eight other operating mines in
Serbia, not including the rich coal mining district.
EXPERIENCED MINING JURISDICTION
02
Other miners operating/exploring in Serbia include Rio Tinto, Freeport-
McMoRan, Dundee Precious Metals and Mundoro.
OTHER MINERS IN SERBIA
03Government system Parliamentary democracy
Population / GDP 7.1 million (est) / USD 43 billion
Capital Belgrade
Major ethnic groups 83% Serbian, 4% Hungarian, 2% Roma

7. IDEAL LOCATION
All the infrastructure to bring Timok into production exists today
SKILLED LOCAL WORKFORCE
5km from Bor mining and smelting complex;
40,000 person mining town with an operating mine
in production since early 1900’s.
Power
Roads
Water
Bor/Aurubis smelters
Ports
Rail
EUROPEAN QUALITY INFRASTRUTURE

8. 8
▪ After-tax NPV8% of US$1.5b and 50% IRR at
$3/lb Cu and $1300/oz Au
▪ 3.3 Mtpa underground sub-level cave operation
▪ Expected mine life of 15 years
▪ $630M initial capex with under 1.5 year payback
period
▪ Cumulative cash flow of $2.8b
TIMOK UPPER
ZONE PROJECT
One of the best undeveloped copper projects in the world
PEA RESULTS

9. 9
HIGH GRADE UPPER ZONE RESOURCE
Over 1Mt copper resource and 2.2Moz gold resource (M&I)
Tonnes Grade Contained Metal
(M) (% Cu) (g/t Au) (% As) Cu, Mt Au, Moz
MEASURED 2.2 8.6 5.7 0.29 0.19 0.40
INDICATED 26.6 3.3 2.1 0.20 0.87 1.8
TOTAL MEASURED &
INDICATED
28.7 3.7 2.4 0.20 1.05 2.2
INFERRED 13.9 1.6 0.9 0.06 0.23 0.42
Notes: Totals do not match sum of individual items due to rounding. Effective date April 24, 2017. Qualified Person: Martin
Pittuck, SRK UK. For complete notes and details, see NR dated October 26, 2017
Note: Graphic representation of UZ Block Model
UPPER ZONE BLOCK MODEL
COPPER GRADE DISTRIBUTION

10. 10
TIMOK UPPER ZONE MINE METHOD
PEA based on Sub-Level Caving “SLC” mining method
TYPICAL SUB-LEVEL CAVE
▪ Proven low cost, bulk tonnage mining method
▪ Applicable to massive, steeply-dipping orebodies and a wide
range of geotechnical conditions
▪ Variable high grades at top of Timok smoothed through cave
blending
▪ More consistent feed to the mill for processing
<$20/t Mined

11. 11
TIMOK UPPER ZONE MINE PLAN
Mine development to proceed in 3 phases
INITIAL CAPITAL
Phase 1: Decline development
Phase 2: First 7.5 yrs mining
SUSTAINING CAPITAL
Phase 3: Final 7.5 yrs mining
Ventilation
shafts
Twin 5x5m
declines
Operating development
Grey = operating cost
Crushing
stations

12. 12
TIMOK UPPER ZONE PRODUCTION SUMMARY
Conventional flow sheet: crushing>grinding>flotation
PLANT DESIGN FLEXIBLE FOR OFFSITE / MARKETING COST CONTROL
PEA assumes single bulk copper concentrate
Option two concentrates: clean: <0.5% and complex >0.5% arsenic
LOM (15 yrs)
Annual Mine Production 3.3 Mtpa
Total Mill Feed 42.1 Mt
Copper Grade 2.6%
Gold Grade 1.7g/t
Arsenic Grade 0.13%
Copper Recovery 92%
Gold Recovery 31%
Payable Copper 2,105 Mlbs
Payable Gold 569 Koz
Cu Conc. Grade 22.5%
As Conc. Grade 1.1%

13. 13
TIMOK UZ PRODUCTION, CASH COSTS & CASH FLOW
Timok benefits from high grade in the early years of the mine life
--
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
--
50
100
150
200
250
300
350
Payable Cu Production (Mlbs) C1 Cash Cost
High cash flow in early years, supports payback of pre-production
capital in less than 1.5 years
LOM CU PRODUCTION & C1 CASH COSTS
The mine generates +US$2.8b in cumulative cash flow over the
life of mine
CAPITAL VS. CASH FLOW
-300
-200
-100
0
100
200
300
400
500
600
700
Cash Flow Capital
&

14. 14
TIMOK PROJECT PERMITTING
Working with State of Serbia to advance project through permitting process
TWO TRACK PERMITTING PROCESS
▪ Dual stage permitting process:
- Exploration decline to commence under Exploration
permitting License
- Underground and surface development to commence
via conversion to Exploitation License and receipt of
Construction Permit
▪ IFC aligned land acquisition program in place
▪ Working with the Serbian government on permitting
with the objective to start production in 2021

15. 15
NPV After-tax (US$B) $1.5 $1.98 $4.24 $1.50 $2.24 $2.61 $2.09 $0.77 $1.77 $1.25 $1.13
DISCOUNT RATE (%) 8% 8% 8% 8% 8% 8% 8% 8% 8% 8% 8%
IRR (After-tax %) 50% 48% 36% 22% 20% 17% 17% 16% 15% 12% 11%
INITIAL CAPEX (US$B) $0.63 $0.52 $1.23 $2.33 $2.36 $2.94 $3.01 $1.92 $4.69 $4.71 $3.60
Primary COMMODITY Copper Zinc Copper Copper Copper Copper Copper Copper Copper Copper Copper
STAGE PEA PEA PEA FS PEA PEA PEA FS PEA FS FS
OWNER Nevsun Arizona
Ivanhoe/Zijin/
DRC
Western Copper
& Gold
McEwen Mining NGex First Quantum
Hudbay/United
Copper & Moly
Northern
Dynasty
Teck
PanAust/Highlan
ds Pacific
STUDY YEAR 2017 2018 2017 2017 2017 2016 2013 2017 2011 2016 2017
UNDEVELOPED BASE METALS PROJECTS
Select global undeveloped base metals projects – Timok project highest IRR
50%
48%
38%
22%
20%
17% 17% 16% 15%
12% 11%
Timok Taylor Kamoa-Kakula Casino Los Azules Constellation Taca Taca Rosemont Pebble Quebrada
Blanca 2
Frieda River
Producer owned Developer owned
Source: Scotiabank, Company Reports

16. 16
TIMOK UPPER ZONE NEXT STEPS
Front end loading to “do it right”
UPPER ZONE NEXT STEPS
Updated PEA in October 2017
Pre-feasibility study in Q1 2018z
Begin decline development Q1 2018z
Feasibility study in H1 2019z
Production anticipated in 2021z
Ongoing drilling to find more Upper Zone style depositsz

17. 17
TIMOK LOWER
ZONE
Large copper-gold porphyry adds significant growth potential
LOWER ZONE: JOINT VENTURE WITH FREEPORT
▪ Extensive porphyry style copper-gold mineralization
below the Upper Zone with block cave potential
▪ Long term potential for world scale project
▪ After UZ feasibility, Freeport-McMoRan 54% JV
Partner
▪ Drilling $20 million by early 2018 to further define
mineralization

18. BISHA
MINE
Bisha, an open pit mine generating revenue from both copper and zinc
concentrates containing gold and silver by-products.

19. ERITREA IDEAL JURISDICTION
Supportive, stable government partner, close to international
markets
Independence 1993
Politics Single party state
Capital Asmara
Population 6 million (est.)
Culture 50% Islamic / 50% Christian
Currency (Nakfa) Pegged to USD
▪ ESTABLISHED IN 1998
Nevsun has been working in Eritrea for ~20 years
▪ STRONG GOVERNMENT SUPPORT
Committed to mining industry, has contributed
capital, and honored all commitments
▪ STABLE TAXATION and mining regulation for
over 20 years
▪ PRODUCTIVE, bilingual, local workforce
▪ IDEAL LOCATION for concentrate export to
international markets

20. 20
BISHA PRODUCTION PROFILE
Low risk cash flow from zinc and copper
0
50
100
150
200
250
300
350
400
2018 2019 2020 2021
Copper Zinc Gold Silver
ZINC EQUIVALENT PAYABLE PRODUCTION*
*Dec 31, 2016 43-101 Technical Report 2018-2021 payable production - Cu $2.90/lb, Zn $1.10/lb,
Au $1250/oz and Ag $20/oz
Ownership 60% Nevsun and 40% ENAMCO (Eritrean National Mining Company).
C1 cash cost of $1.55 -
$1.75 (co product)
20 – 30 MMLBS
Copper
C1 cash cost of $0.70 -
$0.90 (co product)
210 – 240 MMLBS
ZincZinc and copper production
expected to increase in 2018,
taking advantage of a strong
base metals market.
2018
Bisha Guidance*
*2018 ZnEq production calculated using - Cu $2.90/lb, Zn $1.10/lb. For illustration
purposes, chart uses mid-point of guidance.

21. 21
OPPORTUNITY TO GROW RESERVES
Combined Bisha, Harena, Asheli, Hambok and Northwest Resources
 Large resource compared to reserve (9Mt) and mill size (primary
mill throughput 2.4Mtpa)
 Deeper Bisha open pit economic but requires investment
incentive
 Improved economics for Harena and Bisha underground mining
 High grade Asheli underground potential
 Working with State of Eritrea to improve risk-adjusted economics
and add reserves
TONNAGE COPPER ZINC GOLD SILVER
TOTAL M&I 35.0 Mt 1.0% 4.2 % 0.6 g/t 33 g/t
TOTAL INFERRED 33.8 Mt 1.0% 4.7 % 0.8 g/t 25 g/t
Bisha,HarenaandAshelibasedon$3.00/lbCopper,$1.20/lbZinc, $1265/ozGoldand$21.00/ozSilverandNorthwestandHambokbasedon $3.35/lbCopper,$1.05/lbZinc, $1350/oz
Goldand$23.00/ozSilver
Notes
1. Effective December 31, 2016 for all deposits except Hambok and
Northwest which have effective date of December 31, 2014
2. Qualified person for mineral resource is Phil Jankowski of BMSC.
3. See NR dated march 23, 2017 and the Dec 31, 2016 Technical Report
for details
4. Resources inclusive of reserves

22. 22
Gap Area
DISTRICT EXPLORATION ERITREA
Tens of highly prospective untested targets
2018 EXPLORATION
▪ $7m budget for 15km of exploration in 2018
▪ Targeting shallow near-mine copper, gold and
silver discoveries.
BROWNFIELD TARGETS
▪ Gap Area, Bisha Village, Asheli North
GREENFIELD TARGETS
▪ VTEM priority follow-up (stars)
▪ Railway & Tekawda trends
▪ MX-124 (new trend) altered felsics
▪ Asheli & Asheli North trends

23. 23
DISTRICT EXPLORATION SERBIA
Highly prospective land packages throughout Serbia along the Tethyan Magmatic
Complex
RAKITA JV WITH FREEPORT-MCMORAN
4 exploration permits in the Bor region, including the Timok project
TILVA JV WITH RIO TINTO
4 exploration permits in close proximity to the Timok project
(100% funded by Rio Tinto)
100% OWNED PROJECTS (7 exploration permits)
4 permits: copper targets
3 permits: zinc, lead, gold, silver sulphide targets Timok
Project
Bor Mine
Bor
Region
12.5KM OF FOLLOW UP
DRILLING ON HIGHLY
PROSPECTIVE UPPER
ZONE TARGETS

24. CORPORATE
OVERVIEW
Experienced management, strong shareholder support and
analyst coverage

25. 25
EXPERIENCED MANAGEMENT & BOARD
Nevsun management and Board has strong history in successful mine building and operating
Peter Kukielski, CEO
Joe Giuffre, CLO
Ryan MacWilliam, CFO
Scott Trebilcock, CDO
Marc Blythe, VP Corp Dev
Peter Manojlovic, VP Exploration
Jerzy Orzechowski, VP & Project Director, Timok
Todd Romaine, VP CSR
Peter Tam, VP Finance
Adam Wright, Heads of Ops (joining March 1st)
MANAGEMENT
Ian Pearce, Chairman
Ian Ashby
Geoff Chater
Anne Giardini
Peter Kukielski
Stephen Scott
David Smith
DIRECTORS

26. 26
STRONG HOLDERS & BROAD COVERAGE
▪ BMO Capital Markets
▪ Canaccord Genuity
▪ Cormark Securities
▪ Eight Capital
▪ Global Mining Research
▪ Haywood Securities
▪ Macquarie
▪ Paradigm Capital
▪ Raymond James
▪ RBC Capital Markets
▪ Scotia Capital
▪ TD Securities
ANALYST COVERAGE
▪ Blackrock ~ 17%
▪ Vanguard (M&G) ~ 11%
▪ >70% Institutional ownership
TOP SHAREHOLDERS
As at September 30, 2017 unless otherwise indicated
Shares Outstanding ≈302M
Fully Diluted ≈310M
Market Cap ≈C$0.9B*
Cash ≈US$151M
No Debt US$0M
SHARE STRUCTURE
“IN OUR OPINION, TIMOK IS
ONE OF THE HIGHEST PROFILE
DISCOVERIES MADE IN RECENT
DECADES, UNDERPINNED BY A
DEFINED HIGH-GRADE
EPITHERMAL RESOURCE
DIRECTLY ADJACENT TO LARGE-
TONNAGE PORPHYRY
POTENTIAL AND A MAJOR
JOINT-VENTURE PARTNER
PARTIALLY FUNDING DEEP
(PORPHYRY) EXPLORATION.”
STEFAN IOANNOU, CORMARK SECURITIES
*Market Cap as of February 16, 2018

27. THANK YOU
Please feel free to contact us! We’d love to hear from you.
Heather Taylor
604-623-4712 / 1-888-600-2200
htaylor@nevsun.com
Investor Relations
www.nevsun.com
@NevsunNSU
nevsun-resources
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