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Exploitation Permit Granted to Perseus Mining to Develop Yaouré Gold Mine Located in Côte D’Ivoire

Perseus Mining Limited, a company specializing in the production, development, and exploration of gold, is happy to report that an Exploitation Permit (EP) has been granted by the government of Côte d’Ivoire to Perseus Yaouré SARL—the Ivorian subsidiary of Perseus Mining Limited.

Under the EP, Perseus Yaouré SARL will develop and operate Perseus Mining Limited’s Yaouré Gold Mine located in Côte d’Ivoire.

The Yaouré Gold Mine, which is situated close to the Ivorian capital of Yamoussoukro next to the Koussou hydro-electric power station, is anticipated to become a low-cost, large-scale gold mining operation that will create a core asset within the asset portfolio of Perseus for many years to come.

The EP receipt is the ultimate permit required by Perseus to begin the development of the Yaouré mine and follows the recent announcements from Perseus that it has accepted a debt financing offer from a syndicate of international banks and established its financing strategies for the development of the mine.

Now, with all important prerequisites in place for the development of the Yaouré gold mine, the Board of Perseus will meet in the coming days to resolve to begin the full-scale project development.

The granting of the Exploitation Permit to enable development of the Yaouré Gold Mine is a major milestone for Perseus that firmly places us on the path to achieving our stated goal of producing more than 500,000 ounces of gold at an all-in cost of less than US$850 per ounce from multiple mines in several jurisdictions in West Africa. When developed, Yaouré is expected to be a large scale, low cost mining operation capable of generating substantial benefits for all of Perseus’s stakeholders, including not only our shareholders who have been keenly awaiting this milestone, but also our host government and local communities, employees and providers of a range of goods and services. On behalf of the Board and the entire team at Perseus, I thank the government of Côte d’Ivoire for granting us the exploitation licence and in doing so, recognising Perseus’s credentials as a capable, reliable and responsible participant in the Ivorian gold mining industry.

Mr Jeff Quartermaine, Chief Executive Officer and Managing Director, Perseus Mining Limited.

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