Nevsun Resources Ltd.

Nevsun Resources Ltd.

March 03, 2005 13:40 ET

Nevsun Resources Ltd.: New Harena Massive Sulphide Deposit Discovered at Bisha, Eritrea


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: NEVSUN RESOURCES LTD.

TSX, AMEX SYMBOL: NSU

MARCH 3, 2005 - 13:40 ET

Nevsun Resources Ltd.: New Harena Massive Sulphide
Deposit Discovered at Bisha, Eritrea

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 3, 2005) - Nevsun
Resources Ltd. (TSX:NSU)(AMEX:NSU) is pleased to announce that it has
intersected a new massive sulphide mineralization at its Harena Prospect
located 9.5 kilometers to the southwest of the Bisha Main Deposit.
Diamond drilling of a coincident gravity anomaly, HLEM anomaly and gold
in soil anomaly resulted in the first hole intersecting gossan
mineralization from 33.0 to 51.0 meters and again from 55.0 to 62.0
meters. The hole ended at 88.0 meters. A second hole drilled 25 meters
beneath the first hole and at -45 degrees, intersected massive sulphide
mineralization from 63.0 to 99.5 meters. A third hole drilled a further
25 meters below H002 and stepped back 50 meters on section, provided
massive sulphide mineralization from 105.5 to 128.5 meters. The dip of
the massive sulphide unit is interpreted to be steeply to the northwest.

The core for holes 1 and 2 have been logged and samples are ready for
shipping to ALS Chemex in Vancouver for subsequent assaying. Results are
expected in approximately 5 to 6 weeks.

Additional drilling on the same section is in progress. Further drilling
will test the zone along strike and to depth in order to determine the
overall configuration of the deposit.

The Harena prospect was initially identified as a small but prominent
alteration feature on Landsat imagery. The 2003 airborne geophysical
survey defined numerous airborne EM responses in the area but the Harena
anomalies appear to sit as somewhat separate entities. Subsequent ground
work indicates favorable geology and alteration associated with massive
sulphide deposits and it is apparent that the area is stratigraphically
the same as Bisha.

John Clarke, President of Nevsun states that "the discovery of a new
massive sulphide zone some distance from the Main Bisha deposit is an
exciting event and offers hope that other deposits may ultimately be
found on Nevsun's property in the future. The similarities of the Harena
gossan to those at Bisha are also encouraging and could mean that
additional gold resources may be present. We need to await the assay
results. The exploration team has done an excellent job in quickly
defining this target and providing the Company with positive drill
results."

Meanwhile, in respect to the Bisha Main deposit, a team of engineers
from AMEC have arrived in Eritrea in order to advance the feasibility
study on Bisha Main. Samples for metallurgical test work will be
collected within the next week and then shipped to Canada for
processing. Various aspects of the project dealing with environmental,
geotechnical, mining, processing and infrastructure issues will be
addressed by AMEC for subsequent inclusion in a final feasibility study.

AMEC has previously provided their independent resource estimate on the
Bisha Main Zone, as announced by Nevsun in its October 18, 2004 news
release, The Bisha Main VMS Deposit has three distinct zones, the oxide
gold zone, supergene copper zone and the primary sulphide zones. The
Indicated resource estimate for the surface oxide gold zone is 4.984
million tonnes averaging 6.51 g/t Au (using a 0.5 g/t Au cut-off grade)
for a total of 1.04 million ounces of gold. The Indicated resource for
the supergene copper zone totals 7.645 million tonnes averaging 3.47% Cu
(using a 0.5% Cu cut-off grade) for a total of 585 million pounds of
copper. The primary sulphide zone is comprised of a primary zone and a
zinc-rich zone, the latter containing an Indicated resource of 8.413
million tonnes grading 9.04% Zn totaling 1.68 billion pounds of zinc and
1.12% Cu totaling 207.7 million pounds of copper (using a 2.0% Zn
cut-off grade).

As noted in the news release of October 18, 2004, the Bisha QA/QC
program used to monitor the accuracy of the assay database was reviewed
and verified by AMEC's Qualified Person, Douglas Reddy, P.Geo. Mr. Reddy
made a site visit to the Bisha Property in May 2004. Geological modeling
was completed by Nevsun and AMEC. Resource modeling was carried out
using Vulcan 3D Software by Maptek Pty Limited by Ken Brisebois, P.Eng.
also of AMEC and the QP for the resource model. The geological model was
formulated by Nevsun under the supervision of Bill Nielsen, P.Geo.
Nevsun's V.P. of Exploration.

Discussions with the Eritrean Government with respect to obtaining
cellular telephone coverage at Bisha, improvement of local roads,
approval to install high speed data transmission and voice satellite
telephones and other pertinent issues are advancing in a positive way.
The Government is displaying a strong desire to advance the Bisha
Project to production.

CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS

Some of the statements contained in this release are "forward-looking
statements" within the meaning of Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, performance or achievements to differ materially from the
anticipated results, performance or achievements expressed or implied by
such forward-looking statements.

NEVSUN RESOURCES LTD.

Dr. John A. Clarke, President & Chief Executive Officer


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