In recent years there has been an increased focus on corporate governance in both Canada and the United States. During late 2002 and 2003, Nevsun undertook a review of its corporate governance practices in light of the various regulatory initiatives and then established a formalized Board Charter, organized its Board and its Committees to have a majority of independent directors and worked toward compliance with the requirements of the Toronto Stock Exchange governance guidelines.

The Board of Directors has approved corporate governance guidelines to promote the effective functioning of the Board of Directors and its Committees and to set forth a common set of expectations as to how the Board should manage its affairs and perform its responsibilities. Nevsun has also adopted a Code of Operating Principles that is applicable to all directors, officers and employees. In addition a specific Code of Ethics for the CEO and CFO has been adopted.

Copies of the Board Charter and the mandates of the Audit Committee, Human Resources Committee and Governance Committee, together with Code of Operating Principles and Code of Ethics for the CEO and CFO are available here.