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PERSEUS MINING LIMITED Capital/Financing Update 2016

May 16, 2016

46513_rns_2016-05-16_58c95f9f-d1dc-4732-8381-c56d48cc1c26.pdf

Capital/Financing Update

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NEWS RELEASE

17 May 2016

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Information for Perseus Warrant Holders

On 18 April 2016 the scheme of arrangement between Perseus Mining Limited (ASX/TSX: PRU) (“Perseus”) and Amara Mining plc (AIM: AMA) (“Amara”) and its shareholders (“the Scheme”) became effective.

As part of the Scheme consideration, Perseus issued warrants to former Amara shareholders. Perseus’s registrar, Computershare, despatched holding statements, including exercise information, to registered holders on 29 April 2016. As many warrant holders hold their warrants through custodians, it may take some time for custodians to forward statements and exercise information to beneficial holders. This timing depends on the custodian and neither Perseus nor Computershare can influence this.

In order to simplify the process of paying the warrant exercise price for warrant holders, Perseus is pleased to provide a direct payment option. Warrant holders that would like to use this option should contact Perseus at [email protected] to obtain payment details. Please include the full name of the registered warrant holder for verification purposes.

Please note that all amounts are to be paid in Australian dollars and net of any bank and other transactional charges. There are no charges for the receiving bank.

Please ensure the payment reference contains the exact name of the registered warrant holder(s) and includes a print of the proof of payment with the exercise notice.

To discuss any aspect of this announcement, please contact:

Investor Relations:

Katharine Sutton at telephone +44 207 398 1420 or email [email protected] (London/Perth)

Nathan Ryan at telephone +61 4 20 582 887 or email [email protected] (Melbourne)

Perseus Mining Limited ABN 27 106 808 986 Level 2, 437 Roberts Road Subiaco WA 6008 Telephone: +61 8 6144 1700 Email: [email protected]

PO Box 1578 Subiaco WA 6008 Facsimile: +61 8 6144 1799 Website: www.perseusmining.com