Perseus Mining Limited

Activity Report for 2019 Quarter - Seite 3

• Continue full scale construction of Yaouré in line with approved schedule and budget;
• Complete land compensation payments to affected land holders;
• Complete auger sampling over the Sayikro soil anomaly on the Yaouré permit;
• Commence AC testing of auger anomalies at Sayikro and Allekran (Yaouré West);
• Complete the last of the three deep diamond holes into the CMA structure to confirm continuity and geometry at depth;
• Complete 3D seismic survey over the CMA zone and environs; and
• Complete VTEM survey over the Yaouré concessions.

Jeff Quartermaine
Managing Director and Chief Executive Officer
January 16, 2020

To discuss any aspect of this announcement, please contact:

Managing Director:	Jeff Quartermaine at telephone [phone] or email
	[e-mail]
General Manager BD & IR:	Andrew Grove at telephone [phone] or email
	[e-mail]
Media Relations:	Nathan Ryan at telephone [phone] or email
	[e-mail] (Melbourne)

Competent Person Statement:

All production targets for Edikan, Sissingué and Yaouré referred to in this report are underpinned by estimated Ore Reserves which have been prepared by competent persons in accordance with the requirements of the JORC Code. 

The information in this report that relates to the Mineral Resource and Ore Reserve estimates for the Esuajah North deposit at the EGM was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement released on 28 August 2019. The information in this report that relates to the Mineral Resource and Ore Reserve estimates for the other EGM deposits was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement released on 29 August 2018 and was updated for depletion until 30 June 2019 in a market announcement released on 28 August 2019. The Company confirms that it is not aware of any new information or data that materially affect the information in those market releases and that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in “Technical Report — Central Ashanti Gold Project, Ghana” dated 30 May 2011 continue to apply.