VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 13, 2016) - Reservoir Minerals Inc. (TSX VENTURE:RMC)
("Reservoir") today reminded Reservoir shareholders to vote FOR the strategic US$1.1 billion combination of
Reservoir and Nevsun Resources Ltd. ("Nevsun") (the "Arrangement") in order to ensure Reservoir shareholders receive a premium
price for their shares and participate in the long term growth of the combined company and the Timok copper and gold project.
All Reservoir shareholders are encouraged to vote for the Arrangement, no matter how many shares they own. The proxy deadline
of 9:00 am, Vancouver time, on Wednesday, June 15, 2016 so it is important to vote prior to this deadline in order for your votes
to be counted. Following the completion of the Arrangement the pro-forma company will have over US$300 million in cash to fund
the development of Reservoir's Timok copper-gold project, as well as ongoing cash flow generated by the pro-forma company's
60%-owned Bisha mine, a high grade mine which generated US$120 million of operating cash flow in 2015.
Reservoir's board of directors, its financial advisor (Canaccord Genuity) and two leading independent proxy advisors (ISS
and Glass Lewis) have all unanimously recommended the transaction. The Arrangement with Nevsun was determined to be in the
best interest of Reservoir's shareholders as it:
- Combines Nevsun's $300 million of cash with Reservoir's high grade Timok Copper-Gold project
- Benefits from Nevsun's track record of building and operating a similar size project, the Bisha mine
- Provides diversification for on-going shareholders
- Offers significant exploration exposure in two prolific mining districts
- Continues partnerships with Freeport and Rio Tinto
In order for the transaction to be successful, a 2/3 majority of the votes cast by Reservoir's shareholders must be in favour
of the US$1.1 billion transaction.
TIME IS SHORT - PROXIES SUBMITTED MUST BE RECEIVED BY 9:00 AM, VANCOUVER TIME, ON WEDNESDAY, JUNE 15, 2016. VOTE YOUR
PROXY NOW TO AVOID THE VALUE DESTRUCTION INHERENT TO THE DISSIDENTS'
PROPOSALS.
If you have any questions or need assistance with voting, please contact D.F. King, the proxy solicitation agent, by telephone
at 1-866-822-1237 (North American Toll Free) or 1-201-806-7301 (Collect Outside North America); or by email at: inquiries@dfking.com.
About Reservoir Minerals Inc.
Reservoir Minerals Inc. is an international mineral exploration
and development company run by an experienced technical and management team, with a portfolio of precious and base metal
exploration properties in Europe and Africa. The Company operates an exploration partnership business model to leverage its
expertise through to discovery.
About Nevsun Resources Ltd.
Nevsun Resources Ltd. is the 60% owner of the high grade Bisha
Mine in Eritrea. Bisha has 9 years of reserve life, generating revenue from both copper and zinc concentrates containing
gold and silver by-products. Nevsun has a strong balance sheet with no debt and pays a peer leading quarterly dividend.
Nevsun is well positioned to grow shareholder value through exploration at Bisha and acquisition of additional mining assets.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation,
and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995
(collectively referred to as "forward-looking information"). The use of any of the words "expect", "potential", "target",
"anticipate", "continue", "estimate", "objective", "may", "will", "project", "should", "believe", "plans", "intends" and similar
expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this
news release contains forward-looking statements and information concerning: the previously announced combination of Nevsun and
Reservoir, the alternative transactions that Reservoir may or may not have at its disposal, the proposed terms of such
alternatives and the potential outcomes that may arise from such alternatives. Since forward-looking information addresses future
events and conditions, by its very nature it involves inherent risks and uncertainties, many of which are beyond Nevsun's and
Reservoir's control. These include, but are not limited to, the risk that the Arrangement may not close when planned or at all or
on the terms and conditions set forth in the Arrangement Agreement; and the failure to obtain the necessary shareholder and court
approvals, if applicable, required in order to proceed with the Arrangement, as well as all the possible outcomes involving both
Jing Bao and XGC proposals to Reservoir referred to in previous news releases. Readers are cautioned that the foregoing list of
factors is not exhaustive. Further information concerning risks and uncertainties associated with these forward-looking
statements and Nevsun's business can be found in Nevsun's Annual Information Form for the year ended December 31, 2015, which is
available on Nevsun's website (www.nevsun.com), filed under Nevsun's profile
on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov) under cover of Form 40-F. Actual results, performance or achievement could differ
materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given
that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what
benefits may be derived there from. Accordingly, readers should not place undue reliance on this information.
Neither the TSX Venture Exchange, nor the TSX nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.