PERSEUS MINING LIMITED — Capital/Financing Update 2007

Feb 11, 2007

12 February 2007

The Manager Company Announcements Office ASX Ltd 4th Floor, 20 Bridge Street SYDNEY, NSW 2000

Dear Sir

COMPLETION OF PROSPECTUS OFFER OF SECURITIES

The Directors of Perseus Mining Limited are pleased to confirm that the prospectus offer of 8,900,000 shares at a price of 40 cents each, together with 4,450,000 free attaching unlisted options (exercisable at 50 cents each on or before 29 February 2008) to raise a total of \$3.56 million has been completed. The allotment and issue of the securities has taken place today.

The Company is also in the process of concluding the placement offer of securities previously announced on 5 December 2006 to raise a further \$6.5 million. This is expected to be completed by the end of this week.

Yours faithfully

Mark Calderwood Managing Director