RESERVOIR MINERALS INC V.RMC

Adrian Day June 8th.....

[thorgb1]

Issue No. 621, 1 page 8th June 2016

VOTE AGAINST RESERVOIR/NEVSUN MERGER

After a good deal of consideration following multiple conversations with analysts, brokers, and shareholders, I am recommending voting against the Nevsun offer for Reservoir Minerals, as presently constituted. This decision is based on the fact that, in my opinion, the offer significantly undervalued the company and its assets.

Note that if the current Nevsun offer is rejected by shareholders, it does not necessarily mean that any particular alternative offer (for example, the offer per the term sheet from Xiangguang the Chinese smelter) must be accepted. Nevsun could increase its offer; another company could make a bid for Reservoir; or the company could raise the funds to repay the Nevsun loan in many ways. It would however open the door to these alternatives.

Given the quality of the asset, as well as the multiple offers of some kind of financing that the company received, the risk to a rejection of this Nevsun offer seems low. The upside is meaningful, however.

[rob926]

I voted 250,000 shares no this weekend. Putting out a press release asking to vote yes even if you only have a few shares sounds like the vote might be close.