Perseus Mining Limited (TSX: PRU) (ASX:PRU) is pleased to provide an update on ongoing exploration at its Yaouré Gold Mine in Côte d’Ivoire, where drilling has returned high-grade gold results from CMA NorthWest and CMA North Targets, down dip from the recently announced Underground Ore Reserves, demonstrating potential for further underground resources growth.

HIGHLIGHTS

• CMA NORTHWEST TARGET – infill drilling has returned high-grade intercepts including:

• YRC2142D: 22.00m @ 3.14g/t Au from 281.00m, including 15.00m @ 4.42g/t Au from 283.00m and 3.40m @ 11.28g/t Au from 294.00m

• CMA NORTH TARGET – infill and extensional drilling of the CMA structure, down dip from the existing Underground Ore Reserve, has returned multiple very encouraging broad, high-grade intercepts including:

• YRC2181D: 13.20m @ 9.36g/t Au from 332.00m, including 5.80m @ 18.01g/t Au from 337.00m
• YRC2157D: 24.00m @ 3.65g/t Au from 308.00m, including 6.00m @ 10.34g/t Au from 313.00m
• YRC2166D: 13.00m @ 5.99g/t Au from 388.00m, including 2.80m @ 23.74g/t Au from 392.20m
• YRC2180D: 8.00m @ 5.07g/t Au from 322.00m
• YRC2159D: 16.00m @ 3.42g/t Au from 368.00m, including 9.55g/t Au @ 5.17g/t Au from 368.90m
• YRC2161D: 18.00m @ 3.68g/t Au from 337.00m
• YRC2162D: 22.50m @ 2.14g/t Au from 405.50m, including 13.10m @ 3.14g/t Au from 414.90m
• YRC2168D: 20.00m @ 2.17g/t Au from 332.00m

• Drilling to test conceptual targets, including targets generated from a 2020 3D seismic survey, has identified new “hanging wall” lodes associated with seismic reflectors. Results include:
  • YDD0575: 41.00m @ 1.12g/t Au from 437.00m, including 3.00m @ 4.87g/t Au from 514.80m, 1.00m @ 19.47g/t Au from 474.00m and 8.80m @ 3.46g/t Au from 506.00m
• Drilling over the next two quarters aims to add confidence to existing Mineral Resources and convert Mineral Resources from Inferred to Indicated classification, as well as test additional targets, potentially leading to new discoveries.

Perseus’s Managing Director and CEO, Jeff Quartermaine, said:

“With our three gold mines, Yaouré, Edikan and Sissingué, producing at an annualised rate of more than 500,000 ounces of gold per year, Perseus aims to maintain this level of production to the end of the current decade and beyond.

Our latest infill and step out drilling results from below Yaouré’s CMA open pit and the recently reported Underground Reserve have confirmed previous drilling results and give us a growing level of confidence that these Mineral Resources and Reserves will continue to grow.”

Competent Person Statement:

The information in this report and the attachments that relate to exploration drilling results at the Yaouré Project is based on, and fairly represents, information and supporting documentation prepared by Mr Glen Edwards, a Competent Person who is a Chartered Professional Geologist. Mr Edwards is the General Manager Exploration of the Company. Mr Edwards has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’”) and to qualify as a “Qualified Person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr Edwards consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.