PERSEUS MINING LIMITED — Capital/Financing Update 2004

Sep 20, 2004

ATTACHMENT 5

Updated Statement of Commitments

Use of actual funds raised pursuant to the Company's prospectus dated 14 July 2004

Year 1	Year 2	Total
\$	\$	\$
1,123,000	1,260,000	2,383,000
370,000		370,000
205,000		205,000
147,000		147,000
360,000	390,000	750,000
		262,000
2,205,000	1,650,000	4,117,000
		3,717,000
		400,000
		\$4,117,000
	Net working capital (cash reserves less liabilities)