Reservoir Announces Closing of Arrangement and Delisting from TSXV

VANCOUVER, June 23, 2016 /CNW/ - Reservoir Minerals Inc. ("Reservoir") (TSX Venture: RMC) today announced that it has successfully completed the previously announced plan of arrangement whereby Nevsun Resources Ltd. has acquired all of the issued and outstanding common shares of Reservoir (the "Arrangement"). As a result of the Arrangement the common shares of Reservoir are expected to be delisted from the TSX Venture Exchange at the close of trading on June 24, 2016.

"On behalf of Nevsun Board and Management, we welcome Reservoir's shareholders to our Company," said Mr. Cliff Davis, Nevsun's President and Chief Executive Officer, "With ongoing cash flow generation from our Bisha mine, we have the financial strength and proven technical ability to move the Timok copper-gold project forward in a timely manner. We look forward to working with all stakeholders to bring the project into production."

Statements in this news release which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

SOURCE Reservoir Minerals Inc.

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