Perseus Mining Limited

Revised Sissingue Gold Mine Feasibility Study - Seite 2

US$1,200/oz US$1,300/oz 6.50 40.7 70.0 97.2 8.25 33.2 60.8 86.5 10.00 26.8 52.5 76.8

Comments from Jeff Quartermaine, Managing Director and Chief Executive Officer

Our revised feasibility study presents a strong case on both technical and economic grounds for proceeding to full-scale development of our second gold mine at Sissingué in Côte d'Ivoire.

Equally as important, we believe there is a compelling strategic case to be made for moving into development at a time when many in the gold industry are pulling back from such decisions.

Consistent with our corporate strategy, the development of Sissingué will result in a second production source and income stream that will decrease our reliance on the Edikan Gold Mine in Ghana for liquidity and income and through diversification, improve the consistency of our financial performance. It should also serve to materially reduce our overall risk profile because, in addition to reducing economic risk, the second operating mine will provide a spread of geopolitical risk as a result of being in a jurisdiction other than Ghana and a spread of technical risks.

We consider that the development risk associated with this organic growth initiative is relatively low compared to the alternative of growing through acquisition given the amount of work that has been performed over the years leading up to the preparation of the revised feasibility study. The Sissingué gold deposit has been very well drilled out and the Mineral Resource estimate has been confirmed by a number of different independent mining engineering consultants.