PERSEUS MINING COVID-19 UPDATE

PERTH, Western Australia, March 26, 2020 (GLOBE NEWSWIRE) -- Perseus Mining Limited (“Perseus” or the “Company”) (TSX & ASX: PRU) ”) provides an update on its activities given the global Coronavirus (COVID-19) pandemic that has swept the world in recent times.

As of today, there have been no cases of COVID-19 infection reported by any of Perseus’s employees or contractors operating at its West African gold mines, Edikan and Sissingué, or at the development site of its third mine, Yaouré, nor by residents of host communities located adjacent to those operations. Perseus’s gold production and its project development activities have not been materially impacted at this time.

Perseus has senior management who successfully led the company through the Ebola outbreak in West Africa in 2014 and adaptations of the thinking and systems developed during that crisis are currently being applied.

As in many countries around the world, the governments of Perseus’s host countries, Ghana and Côte d’Ivoire, have acted promptly and properly to ensure the welfare of their citizens and residents. The international borders of each of Ghana and Côte d’Ivoire have been closed, self-isolation measures and limitations on internal travel have been introduced. In response to these measures, Perseus’s management has taken decisive actions at each of its sites, as well as corporate and administrative offices to maintain the safety and welfare of its people and ensure the ongoing continuity of Perseus’s business.

At this time, gold production and cost guidance previously provided by Perseus for the Half Year and full Financial Year ending June 30, 2020 remains valid based on production to date and internal forecasts to the end of the period. Investors are advised that Perseus’s operating environment is dynamic, with circumstances changing regularly. While Perseus has so far responded effectively to the current crisis, this cannot be guaranteed for the remainder of the guidance period. Perseus will update the market on the validity of its production and cost guidance when its March 2020 quarter results are published in mid-April 2020.

CEO and Managing Director, Jeff Quartermaine Comments:

“As many have already stated, the coronavirus pandemic that has spread around the world in recent times presents enormous challenges for everyone. Perseus is certainly not exempt from this and with employees located in Australia and in two countries in Africa we are keenly aware of our responsibilities to all our stakeholders in this difficult time.