PERSEUS MINING LIMITED — Capital/Financing Update 2008

Jun 11, 2008

12 June 2008 ASX RELEASE

Perseus Mining Increases its Landholding in Ivory Coast

Highlights

• 1,839sq km of reconnaissance permits have been granted to Perseus Mining Ltd's wholly owned subsidiary in Ivory Coast.
• The permits cover highly prospective greenstones adjoining the Company's Tengrela project and Randgold's Tongon project.

Perseus Mining Limited ('Perseus' ASX Code: PRU) is pleased to announce it has been granted two large reconnaissance permits in northern Ivory Coast.

The 839sq km Mahalé reconnaissance permit located over a greenstone belt extending northwest from Perseus's Tengrela Project, and the 1,000sq km M'Bengué reconnaissance permit located adjacent to Randgold Resources' 4.3Moz Tongon project about 60km south-east of Tengrela.

The reconnaissance permits are for a one year period, during which the Company will undertake wide-spaced geochemical sampling to identify and locate mineral prospective areas of interest. Subject to the results of that work, the Company will then apply for prospecting licences over all or part of that area.

The Company has been recognized by the Ivory Coast Government as one of the most active and consistent explorers in the country, with four drill rigs currently operating on the Tengrela Project. The Company proposes to continue to build on its current 2,724sq km land holding in northern Ivory Coast.

The reconnaissance permits are held in the Company's subsidiary company, Occidental Gold (Ivory Coast) s.a.r.l.

To discuss any aspect of this announcement, please contact Richard Taylor at telephone +61 8 9240 6344, mobile 0422 811 350 or email taylorr@perseusmining.com.

Perseus Mining Limited ABN 27 106 808 986 30 Ledgar Road, Balcatta, Western Australia 6021 PO Box 717 Balcatta WA 6914 Telephone: (618) 9240 6344 Facsimile: (618) 9240 2406 Email address: info@perseusmining.com Mark Calderwood Managing Director Website: www.perseusmining.com