VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 17, 2016) - Reservoir Minerals Inc.
("Reservoir" or the "Company") (TSX VENTURE:RMC)(OTC PINK:RVRLF)(BERLIN:9RE) is pleased to
announce that at a special meeting held today, Reservoir shareholders and optionholders approved the previously announced Plan of
Arrangement ("Arrangement") with Nevsun Resources Ltd. ("Nevsun"). On closing of the
Arrangement, all of Reservoir's issued and outstanding common shares will be exchanged on the basis of two Nevsun common shares
(the "Consideration Shares") and C$2.00 in cash per Reservoir common share.
The special resolution approving the Arrangement was approved by: (i) 68.24% of the votes cast by Reservoir shareholders
present in person or represented by proxy at the meeting; (ii) 69.15% of the votes cast by Reservoir shareholders and
optionholders voting as a single class present in person or represented by proxy at the meeting; and (iii) 66.56% of the votes
cast by "minority" Reservoir shareholders in accordance with Part 8 of Multilateral Instrument 61-101 - Protection of
Minority Securityholders in Special Transactions. Nevsun shareholders approved the issuance of the Consideration Shares by
approximately 98.95% of the votes cast at Nevsun's special meeting of shareholders that was also held today.
The transaction is expected to close on June 23, 2016 following receipt of final court approval and other customary closing
conditions.
Full details concerning the Arrangement are included in the management information circulars of both Reservoir and Nevsun
mailed to their respective securityholders on May 20, 2016.
About the Company:
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.
For further information on Reservoir Minerals Inc., please consult our website, www.reservoirminerals.com.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such
forward-looking statements or information, including but not limited to those with respect to the expected closing date of the
Arrangement and the consideration to be received in respect of the Arrangement, involve known and unknown risks, uncertainties,
and other factors which may cause the actual results, performance or achievements of Reservoir Minerals Inc. to be materially
different from any future results, performance or achievements expressed or implied by such forward-looking statements or
information. Such factors include, among others, (i) the conditions to completion of the arrangement will not be satisfied,
including court approval; (ii) an event, change or other circumstance that could give rise to the termination of the arrangement
agreement will occur and other risks disclosed in documents filed from time to time with the securities regulators in the
applicable Provinces of British Columbia and Alberta.