PERSEUS MINING LIMITED - Capital/Financing Update 2023

23 AUGUST 2023 NEWS RELEASE

PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE GROWTH AT YAOURÉ

Perth, Western Australia/August 23, 2023/ Perseus Mining Limited (ASX/TSX: PRU) is pleased to announce an increase to CMA underground Ore Reserves beneath the existing CMA open pit, at its Yaouré Gold Mine in Côte d’Ivoire of 2.7 Mt at 3.46 g/t for 300 koz. The total CMA underground Ore Reserve is now estimated by Perseus to be 4.9 Mt at 3.51 g/t for 559 koz. The CMA orebody remains open down plunge and down dip below the current Indicated Mineral Resource, and further extensions to the CMA underground Ore Reserves are expected with future drilling during FY24.

Feasibility-level studies on the CMA deposit at Yaouré (approximately four hundred metres down dip from the base of the open pit) have confirmed the economic and technical viability of underground mining. Resource definition drilling during FY23 has added Mineral Resources and Ore Reserves down-dip of the CMA underground Pre-Feasibility Study (PFS) Ore Reserves and readers are referred to ASX release “Perseus Updates Mineral Resource and Ore Reserve Estimates” dated 28 August 2022 for additional details on the CMA underground PFS.

More widely spaced drilling below the CMA underground Ore Reserve has shown that mineralisation extends deeper allowing an extension to Inferred Mineral Resources at depth. Extension of Inferred Mineral Resources and continued drilling success down-dip, provides strong encouragement for further expansion of the CMA underground.

As well as growth to Ore Reserves for the CMA underground, a drill campaign of 22,084 metres during FY23 at the adjacent Yaouré open pit has resulted in 6.9 Mt at 1.82 g/t for 403 koz of additional Yaouré open pit Ore Reserves (separate to the CMA open pit). Yaouré open pit Ore Reserves now total 11.8 Mt at 1.49 g/t for 565 koz. The increase to Yaouré Open pit Ore Reserves is based upon conversion of Inferred Mineral Resources immediately beneath the existing Yaouré open pit to Indicated Mineral Resources.

CMA underground and Yaouré open pit Ore Reserve increases are in addition to the existing Ore Reserves, adding additional value and mine life to the Yaouré Gold Mine. The CMA underground Feasibility Study (FS) and the Yaouré open pit expansion will be released in Perseus’ upcoming Yaouré Gold Mine Life of Mine (LOM) plan.

HIGHLIGHTS

Indicated Mineral Resources at CMA underground have increased by 439 koz to 7.3 Mt at 4.17 g/t for 976 koz of contained gold, and Inferred Mineral Resources are estimated at 4.4 Mt at 3.4 g/t gold containing 485 koz of gold.
Underground Probable Ore Reserves estimated to date total 4.9 Mt of ore grading 3.51 g/t gold and containing 559 koz of gold, which is an increase for FY23 of 2.7 Mt at 3.46 g/t gold containing 300 koz of gold.
Yaouré open pit Indicated Mineral Resources have increased by 300 koz to 19.2 Mt at 1.27 g/t for 784 koz of contained gold, and Inferred Mineral Resources are estimated at 3.0 Mt at 1.3 g/t gold containing 124 koz of gold.
Yaouré open pit Probable Ore Reserves have increased in FY23 by 6.9 Mt at 1.82 g/t for 403 koz of gold, for a total of 11.8 Mt at 1.49 g/t gold containing 565 koz of gold.
Yaouré Gold Mine Ore Reserve increases at the CMA underground and the Yaouré open pit will extend the Yaouré Life of Mine (LOM) and all Ore Reserve additions are inside the mine fence and adjacent to the Yaouré processing facility. Perseus will prepare an updated LOM Plan for the Yaouré Gold Mine during the September 2023 Quarter.

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NEWS RELEASE | PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE UPDATE AT YAOURÉ

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Table 1: Yaouré Gold Mine Measured & Indicated Mineral Resources[9,10,11]

				MEASURED & INDICATED
		MEASURED RESOURCES	INDICATED RESOURCES
				RESOURCES
DEPOSIT	DEPOSIT TYPE
		QUANTITY GRADE GOLD	QUANTITY GRADE GOLD	QUANTITY GRADE GOLD

		Mt g/t gold ’000 oz	Mt g/t gold ’000 oz	Mt g/t gold ’000 oz
CMA1,3,4, 6 Open Pit - - - 16.7 1.32 710 16.7 1.32 710
Yaouré2,3,4, 6 Open Pit - - - 19.2 1.27 784 19.2 1.27 784
Satellite deposits5,6 Open Pit - - - 6.6 0.97 206 6.6 0.97 206
Sub Total - - - 42.6 1.24 1,700 42.6 1.24 1,700
CMA8 Underground - - - 7.3 4.17 976 7.3 4.17 976
Heap Leach3,7 Stockpile - - - 0.4 0.61 8 0.4 0.61 8
Stockpiles Stockpile 4.4 0.84 119 - - - 4.4 0.84 119
TOTAL 4.4 0.84 119 50.3 1.66 2,684 54.7 1.59 2,804

Table 2: Yaouré Gold Mine Inferred Mineral Resource[9,10 ]

		INFERRED RESOURCES
DEPOSIT	DEPOSIT TYPE	QUANTITY GRADE GOLD
		Mt g/t gold ’000 oz
CMA1,3,4, 6 Open Pit 2.6 0.7 58
Yaouré2,3,4,6 Open Pit 3.0 1.3 124
Satellite deposits5,6 Open Pit 1.3 0.8 34
CMA8 Underground 4.4 3.4 485
TOTAL 11.3 1.9 701

Notes:

Based on June 2022 Mineral Resource estimate.
Based on June 2023 Mineral Resource estimate.
Depleted for previous mining and to 30 June 2023 mining surface.
0.4 g/t gold cut-off applied to in situ open pit material.
Based on Angovia 2 April 2021, Govisou June 2022, and CMA SW August 2022 Mineral Resource models.
In situ open pit resources constrained to US$1,800/oz pit shells.
Heap leach resources are stated at 0 g/t gold cut-off; only heap leach components with average grade above 0.4 g/t included.
June 2023 Mineral Resource estimate, below Stage 3 pit and above 1.5 g/t block grade cut-off.
Mineral Resources current as of 30 June 2023.
Rounding of numbers to appropriate precision may result in summary inconsistencies.
Mineral Resources are reported inclusive of Ore Reserves.

Table 3: Yaouré Gold Mine Ore Reserves[5,6 ]

		PROVED	PROBABLE	PROVED + PROBABLE
DEPOSIT	DEPOSIT TYPE	QUANTITY GRADE GOLD	QUANTITY GRADE GOLD	QUANTITY GRADE GOLD
		Mt g/t gold ’000 oz	Mt g/t gold ’000 oz	Mt g/t gold ’000 oz
CMA1,2 Open Pit		- - - 11.9 1.81 692 11.9 1.81 692
Yaouré2,3 Open Pit		- - - 11.8 1.49 565 11.8 1.49 565
Satellite deposits2,3 Open Pit		- - - 4.1 1.03 137 4.1 1.03 137
Sub-Total		- - - 27.8 1.56 1,394 27.8 1.56 1,394
CMA4 Underground		- - - 4.9 3.51 559 4.9 3.51 559
Stockpiles Stockpile		4.4 0.84 119 - - - 4.4 0.84 119
TOTAL		4.4 0.84 119 32.8 1.85 1,953 37.2 1.73 2,072

Notes:

Based on depletion to 30 June 2023 mining surfaces.
Variable gold grade cut-offs for each material type, ranging from 0.35 g/t to 0.75 g/t.
Pit designs are based on US$1,300/oz gold price for satellites and US$1,500/oz for CMA and Yaouré open pit.
Based upon cut-off for development and stoping of 0.5 g/t and 2.5 g/t.
Inferred Mineral Resource is considered as waste for optimisation purposes.
Rounding of numbers to appropriate precision may have resulted in apparent inconsistencies.

Perseus’s Managing Director and CEO Jeff Quartermaine said:

“Since pouring first gold at Yaouré, this mine has repeatedly exceeded our expectations on almost every measure and made a very significant contribution to the success of our company. The discovery of extensions to the CMA orebody at depth and confirmation that these Mineral Resources can be economically developed is further evidence that not only

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is the Yaouré Gold Mine an outstandingly good operation, but that it will also continue to contribute benefits to all of our stakeholders, well beyond our initial estimates.

The results that have been announced today are associated with the first 400 metres down dip from the base of the CMA open pit. Three dimensional seismic surveys have confirmed that the CMA and associated structures continue at depth for a much greater distance underground and it will require further drilling to confirm that these structures are mineralised with economically mineable grades at depth. However, based on what we have seen to date, we are optimistic that once established, the underground operation at Yaouré will continue for many years into the future.

The Yaouré underground mine is Perseus’s first foray into underground mining, with all previous operations having been open cut operations. While this represents a new style of mining and a new challenge for us as a company, it is certainly not new to many of the technical staff that are currently employed by Perseus who are very keen to demonstrate their skills in an underground mining setting. This depth of talent within our existing ranks gives us every confidence that the Yaouré Underground operation, when it commences, will be every bit as successful as the open pit operation that has preceded it”.

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INTRODUCTION

Perseus is currently mining the CMA orebody at the Yaouré Gold Mine in Côte d’Ivoire using conventional open pit mining methods. The CMA orebody is a tabular zone of mineralisation 2-20 metres thick which generally grades at 3- 7 g/t gold and generally dips to the east at 20-35 degrees but can be shallower or steeper locally. Perseus reported its first open pit Mineral Resource and Ore Reserve in the News Release “Perseus Confirms Quality of Yaouré Gold Project” dated 3 November 2017 based on a Feasibility Study. The open pit Feasibility Study identified the potential for the CMA orebody to extend to depth. This was confirmed by a Concept Study entitled “Perseus Mining Completes Scoping Study for Potential Underground Mine at Yaouré” dated 5 November 2018, which evaluated the potential to mine the orebody using underground mining methods and produced a maiden Mineral Resource estimate for the CMA underground.

In 2020, a 3D seismic survey was completed over a large volume around the CMA pit, that provided encouragement that the CMA orebody continued further down dip from the area assessed in the 2018 Concept Study. Based on the findings, drilling programs were instigated in 2021 to convert the identified underground Inferred Mineral Resource to an Ore Reserve and to investigate the potential to extend the underground Inferred Mineral Resource further down dip. The two drilling programs were completed in the first half of 2022 which culminated with a Pre-Feasibility Study and maiden Ore Reserve for the CMA underground and continued extension of the Inferred Mineral Resource down-dip. The two drilling programs also had a small impact on the open pit Mineral Resource, mainly on the resource classification. Based on the results of the Pre-Feasibility Study, drilling has continued through 2022 and 2023 to support the CMA underground Feasibility Study and expand upon the existing CMA underground Mineral Resource and Ore Reserve.

After accounting for mine depletion, the CMA open pit Mineral Resources and Ore Reserves are materially unchanged from those previously stated. Please refer to release to ASX release “Perseus Updates Mineral Resource and Ore Reserve Estimates” dated 28 August 2019 for additional details.

OPEN PIT MINERAL RESOURCE

The combined 30 June 2023 Yaouré Gold Mine open pit Indicated Mineral Resources is 42.6 Mt at 1.24 g/t gold for 1.7 Moz and Inferred Mineral Resources of 6.9 Mt at 1.0 g/t gold for 216 koz.

The updated Yaouré open pit Mineral Resource estimate is 19.2 Mt at 1.27 g/t gold for 784 koz of Indicated Mineral Resources and 3.0 Mt at 1.3 g/t gold for 124 koz of Inferred Mineral Resources. The updated Yaouré open pit estimate includes an additional 22,084 metres in 130 drill holes targeting infill areas and high-grade lodes to delineate and increase the confidence of the Yaouré open pit Mineral Resource to support an updated Yaouré open pit Ore Reserve.

The updated CMA open pit Mineral Resource estimate is 16.7 Mt at 1.32 g/t gold for 710 koz of Indicated Mineral Resources and 2.6 Mt at 0.7 g/t gold for 58 koz of Inferred Mineral Resources. The CMA open pit Mineral Resource estimate for the Yaouré Gold Mine has been depleted to the 30 June 2023 surveyed mining surface.

After accounting for mine depletion and adjustments for the underground Mineral Resource within the US$1,800/oz pit shell, the CMA open pit Mineral Resource estimate remains materially unchanged from the previous CMA open pit estimate reported at 30 June 2019 and readers are referred to ASX release “Perseus Updates Mineral Resource and Ore Reserve Estimates” dated 28 August 2019 for additional details.

The Yaouré Satellite Deposits open pit Mineral Resources remain materially unchanged from the previous Yaouré Satellite Deposits open pit estimate reported at 30 June 2019 and readers are referred to ASX release “Perseus Updates Mineral Resource and Ore Reserve Estimates” dated 28 August 2019 for additional details.

The Yaouré, CMA and Satellite Deposits open pit Mineral Resources are reported at a 0.4 g/t gold cut-off grade within a US$1,800/oz pit shell.

The CMA, Yaouré and Satellite Deposits open pit Mineral Resource estimates are reported in accordance with the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). The classification categories of Measured, Indicated and Inferred under the JORC Code are equivalent to the CIM categories of the same names (CIM, 2014).

The 30 June 2023 estimated open pit Mineral Resources at Yaouré Gold Mine are summarised in Tables 4 and 5 below.

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Table 4: Yaouré Gold Mine Open Pit Measured & Indicated Mineral Resources[7,8]

				MEASURED & INDICATED
		MEASURED RESOURCES	INDICATED RESOURCES
				RESOURCES
DEPOSIT	DEPOSIT TYPE
		QUANTITY GRADE GOLD	QUANTITY GRADE GOLD	QUANTITY GRADE GOLD

		Mt g/t gold ’000 oz	Mt g/t gold ‘000 oz	Mt g/t gold ’000 oz
CMA1,3,5,6 Open Pit		- - - 16.7 1.32 710 16.7 1.32 710
Yaouré2,3,5,6 Open Pit		- - - 19.2 1.27 784 19.2 1.27 784
Satellite Deposits3,4,5,6 Open Pit		- - - 6.6 0.97 206 6.6 0.97 206
TOTAL		- - - 42.6 1.24 1,700 42.6 1.24 1,700

Table 5: Yaouré Gold Mine Open Pit Inferred Mineral Resource[7 ]

		INFERRED RESOURCES
DEPOSIT	DEPOSIT TYPE	QUANTITY GRADE GOLD
		Mt g/t gold ’000 oz
CMA1,3,5,6 Open Pit 2.6 0.7 58
Yaouré2,3,5,6 Open Pit 3.0 1.3 124
Satellite Deposits3,4,5,6 Open Pit 1.3 0.8 34
Total 6.9 1.0 216

Notes:

Based on June 2022 Mineral Resource estimate.
Based on June 2023 Mineral Resource estimate.
Depleted for previous mining and to 30 June 2023 mining surface.
Based on Angovia 2 April 2021, Govisou June 2022, and CMA SW August 2022 Mineral Resource models.
0.4 g/t gold cut-off applied to in situ open pit material.
In situ open pit resources constrained to US$1,800/oz pit shells
Rounding of numbers to appropriate precision may result in summary inconsistencies.
Mineral Resources are reported inclusive of Ore Reserves

YAOURÉ OPEN PIT MINERAL RESOURCE MATERIAL INFORMATION SUMMARY

A Material Information Summary is provided for the Yaouré open pit Mineral Resource pursuant to ASX Listing Rules 5.8 and 5.9 and the Assessment and Reporting Criteria in accordance with JORC Code 2012 requirements. The Assessment and Reporting Criteria in accordance with JORC Code 2012 ( Table 1 ) is presented in Appendix 3 .

GEOLOGY AND GEOLOGICAL INTERPRETATION

The CMA and Yaouré gold deposits occur near the south-eastern flank of the Bouaflé greenstone belt in central Côte d’Ivoire. Mineralisation is hosted by Paleoproterozoic-aged metabasalts and granodiorites of the Birimian Supergroup. The rocks are metamorphosed to lower greenschist facies and only locally feature penetrative deformation fabrics. Timing of the gold mineralisation event at Yaouré is dated to have occurred circa 2,105+4 Ma associated with crustal shortening.

Gold mineralisation is predominantly associated with quartz-albite-carbonate veining in reverse fault (Y) structures, forming a series of interconnected lodes with the best developed structures typically dipping at 25 to 30 degrees to the east. Gold mineralisation is also associated with extensional sub-vertical strike-slip fault (S) structures commonly orientated in a general east-west strike, in addition to the reverse fault structures ( Appendix 1 – Figure 3 ). Gold is associated with disseminated pyrite within veins and altered wall-rocks. Arsenopyrite and molybdenite occur in trace quantities. No significant concentrations of other economic metals or deleterious elements are known to occur with the mineralisation.

The Yaouré open pit resource comprises thirty-two discretely modelled lodes with variable widths ranging from 1-3 metres up to 15-20 metres in approximate thicknesses. Fifty percent of the Indicated Resource ounces is hosted in eleven of the modelled lodes with the other fifty percent of the Indicated Resource ounces contained in the remaining lodes and background domains.

The Yaouré open pit Mineral Resource is currently defined to a maximum vertical depth of approximately 400 m from surface with Indicated Resources defined to an approximate depth of 250 metres and Inferred Resources defined to an approximate depth of 350 metres. The Mineral Resource extends over 1,500 metres in strike length.

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DRILLING TECHNIQUES

The Yaouré open pit Mineral Resource estimate is informed by RC and diamond core intercepts in holes drilled between 2007 and 2015 by Amara Mining plc, and holes drilled from 2017 onward by Perseus Mining ( Table 6 ). Fifty three percent of the drill hole metres that inform the Yaouré open pit resource estimate are comprised from diamond core samples.

Table 6: Yaouré Open Pit Resource Estimate Drilling Breakdown by Drill Type and Period

	No. Holes	No. Holes	No. Holes	Metres	Metres	Metres
Company
	RC	DD1	Total	RC	DD1	Total

Amara Mining Perseus Mining	713 344 1,057 49,084.00 76,284.70 125,368.70 773 129 902 41,264.00 23,408.60 64,672.60
Total	1,486 473 1,959 90,348.00 99,963.30 190,041.30

1. DD figures include drill holes with RC pre-collars.

A total of 130 new drill holes for 22,084 metres are included in the updated 30 June 2023 Mineral Resource estimate compared with the previous Mineral Resource estimate. The 130 new drill holes targeted infill areas and high-grade lodes to delineate and increase the confidence of the Yaouré open pit Mineral Resource to support an updated Yaouré open pit Ore Reserve.

Drill hole collar locations were surveyed by qualified surveyors using total station or differential GPS equipment and reported in UTM Zone 30N with elevation converted to mine grid by adding 1,000 metres to the natural topographic datum height. Both RC and diamond core holes were down-hole surveyed at approximately 30 m intervals. Diamond core in fresh rock was routinely oriented.

DRILL COVERAGE

The Yaouré deposit is delineated by regular spaced drilling on an approximate 25 × 25 metre grid to a depth of between 200 and 250 metres below natural surface between 777,000 mN and 777,750 mN; and between 100 to 150 metres below natural surface between 776,500 mN and 777,000 mN. This drill spacing is considered sufficient to define Indicated Mineral Resources. Partial coverage is achieved at an approximate 50 × 50 metre spacing to approximately 300 and 350 metres below natural surface between 777,000 mN and 777,750 mN; and between 150 to 250 metres below natural surface between 776,500 mN and 777,000 mN. This drill spacing is considered sufficient to define Inferred Mineral Resources.

Holes have generally been drilled dipping at -55 to -75 degrees toward 270 degrees (UTM grid) azimuth, approximately orthogonal to the dip and strike of the reverse fault structures and drill intercept lengths closely approximate true widths of mineralisation for the reverse fault structures. Intercepts are typically oblique for the general east-west strike-slip fault structures with true widths approximately 65% of the intercept length. The 2023 drilling has been preferentially orientated where possible to intersect these structures at a more orthogonal angle.

Mineralisation remains open at depth.

SAMPLING

RC drill samples were collected over 1 metre intervals and split using multi-stage riffle splitters. Subsample weights were nominally 3 kilograms. For some Amara and most Perseus RC drilling, sample recovery was measured by weighing bulk recovered samples. For Amara and Perseus RC drill campaigns, samples were logged visually for recovery, moisture and contamination. The majority of Amara and Perseus RC samples were logged as dry and sample contamination in RC holes is not considered a significant risk to the reliability of the resource estimate.

Diamond core was sawn in half using a diamond blade saw, with one half sent for assaying and the other half stored in core trays for reference. Samples were normally taken over 1 metre intervals or shorter lengths to reflect sampling to geological contacts. For most Amara and Perseus core drilling, core recoveries were measured and considered reasonable with negligible core loss recorded.

SAMPLE ANALYTICAL METHODS

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subsample. Internal laboratory checks required at least 85% of the pulp passing -75 microns. The remainder of samples were prepared by commercial laboratories using nearly identical processes.

Assaying has been carried out by various commercial laboratories consistently using 50-gram Fire Assay (“FA”) technique with Atomic Absorption Spectroscopy (“AAS”) determination prior to 2023. Commencing in 2023 gold analysis has been conducted using the Chrysos PhotonAssay™ determination method at MSALABs in Yamoussoukro.

A consistent regime of quality assurance has been employed including submission of duplicate pulp samples, coarse blanks and certified reference materials.

ESTIMATION METHODOLOGY

Mineral Resources were estimated for gold using either Ordinary Kriging (OK) or Inverse Distance (ID) methods of 1 metre down-hole composited gold grades from RC and diamond drilling. The geological modelling and resource estimation was conducted using Leapfrog Geo™ software and the Edge™ module.

Discrete individual lodes (domains) were modelled using the interval selection tool and vein modelling function in Leapfrog Geo™. Domain intervals were selected based on geological characteristics of the mineralisation and a nominal cut-off grade of 0.2 g/t gold.

The estimation approach and estimate search strategy was chosen on an individual domain basis based on inputs criteria including the number of samples, drill hole spacing, lode (domain) orientation and variogram model analysis. Estimates were undertaken as hard boundaries into parent blocks with dimensions of 8.0 mE by 16.0 mE by 5.0mRL. The block size was selected based on drill hole spacing, the geometry of the mineralisation and the selective mining unit. Parent blocks were sub-blocked to 0.5 mE by 1.0 mN by 0.625 mRL to improve the volume definition of the domains.

Search ellipses were oriented to reflect the strike and dip directions of each of the lodes and where applicable dynamic anisotropy was applied. Top-cuts were applied based on an individual lode (domain) basis and ranged between 10 g/t to 40 g/t gold.

Bulk densities were applied to the block model by oxidisation type and lithology, with values of 1.80 t/m[3] for completely weathered material, 2.10 t/m[3] for transitional weathered material, 2.70 t/m[3] for sediments in fresh material, 2.85 t/m[3] for basalt in fresh material, 2.80 t/m[3] for intrusive porphyritic dykes and 2.75 t/m[3] for granodiorite.

Gold grade estimates were validated statistically by comparing mean composited grades to mean estimated grades, by gold grade trends in easting, northing and elevation Swath plots and by visual checks in Leapfrog.

RESOURCE CLASSIFICATION

Indicated Mineral Resources are confined to areas of approximately 25 metres by 25 metres drill coverage, with Inferred classified estimates in more broadly sampled mineralisation typically at a 50 metre by 50 metre drill coverage. Inferred Mineral Resources in places extend to a maximum of around 100 metres from drilling.

POTENTIAL FOR EVENTUAL ECONOMIC EXTRACTION

Mineral Resources comprise blocks with an estimated gold grade above 0.4 g/t Au, the average break-even cut-off grade that derives from cost and revenue parameters estimated in the Yaouré open pit Ore Reserve based on a gold price of US$1,800/oz.

There are no regulatory, environmental, or social impact considerations presently known that are likely to impact eventual economic extraction of the Mineral Resource.

The Mineral Resource estimate stated herein does not consider other modifying factors that might arise out of mine planning and design such as ore loss, mining dilution or other mineralised material that might be mined during general open pit production activities.

UNDERGROUND MINERAL RESOURCE

The CMA underground Mineral Resource estimate for the Yaouré Gold Mine has been updated to include all recent CMA resource drilling. The updated CMA underground Mineral Resource estimate is 7.3 Mt at 4.17 g/t gold for 976 koz of Indicated Mineral Resources and 4.4 Mt at 3.4 g/t gold for 485 koz of Inferred Mineral Resources.

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The updated CMA underground resource estimate includes an additional 44,711.9 metres in 100 drill holes targeting the CMA lode to delineate and increase the confidence of the CMA underground Mineral Resource to support the updated CMA underground Ore Reserve. The CMA underground is reported below the CMA Stage 3 pit design at a 1.5 g/t gold cut-off grade.

The underground Mineral Resource estimates are reported in accordance with the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). The classification categories of Measured, Indicated and Inferred under the JORC Code are equivalent to the CIM categories of the same names (CIM, 2014).

The 30 June 2023 estimated underground Mineral Resource at CMA are summarised in Tables 7 and 8 below.

Table 7: CMA Underground Measured & Indicated Mineral Resource[2,3]

				MEASURED & INDICATED
		MEASURED RESOURCES	INDICATED RESOURCES	RESOURCES
DEPOSIT	DEPOSIT TYPE
		QUANTITY GRADE GOLD	QUANTITY GRADE GOLD	QUANTITY GRADE GOLD

		Mt g/t gold ’000 oz	Mt g/t gold ’000 oz	Mt g/t gold ’000 oz
CMA1 Underground		- - - 7.3 4.17 976 7.3 4.17 976
TOTAL		- - - 7.3 4.17 976 7.3 4.17 976

Table 8: CMA Underground Inferred Mineral Resource[2 ]

		INFERRED RESOURCES
DEPOSIT	DEPOSIT TYPE	QUANTITY GRADE GOLD
		Mt g/t gold ‘000 oz
CMA1 Underground 4.4 3.4 485
Total 4.4 3.4 485

Notes:

June 2023 Mineral Resource estimate, below Stage 3 pit and above 1.5 g/t block grade cut-off.
Rounding of numbers to appropriate precision may result in summary inconsistencies.
Mineral Resources are reported inclusive of Ore Reserves

CMA UNDERGROUND MINERAL RESOURCE MATERIAL INFORMATION SUMMARY

A Material Information Summary is provided for the CMA underground Mineral Resource pursuant to ASX Listing Rules 5.8 and 5.9 and the Assessment and Reporting Criteria in accordance with JORC Code 2012 requirements. The Assessment and Reporting Criteria in accordance with JORC Code 2012 ( Table 1 ) is presented in Appendix 3.

GEOLOGY AND GEOLOGICAL INTERPRETATION

The CMA Underground Mineral Resource comprises fifteen discrete lodes with typical thicknesses ranging from 2-3 metres up to 15-20 metres. Eighty-nine percent of the Indicated Mineral Resource tonnage and ninety-two percent of the Indicated Mineral Resource contained ounces is hosted in the principal CMA and bifurcated hangingwall lode (structure).

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CMA underground Mineral Resource extends from the designed base of the CMA open pit to a maximum vertical depth of approximately 185 metres for Indicated Resources and 350 metres for Inferred Resources. The corresponding down-dip extents beneath the pit design base are approximately 400 metres and 700 metres. The Mineral Resource extends over 1,400 metres in strike length and mineralisation remains open along the moderately plunging trend to the north ( Appendix 1 – Figure 5 ).

DRILLING TECHNIQUES

The CMA underground Mineral Resource estimate is informed by RC and diamond core intercepts in holes drilled between 2012 and 2015 by Amara Mining plc, and holes drilled from July 2017 onward by Perseus Mining ( Table 9 ). Approximately ninety-seven percent of the CMA intercepts (below the CMA pit design) that inform the underground Mineral Resource estimate are comprised from diamond core samples.

Table 9: CMA Underground Resource Estimate Breakdown for Principal CMA and Hangingwall Lode by Drill Type and Period

	No. Holes	No. Holes	No. Holes	Metres	Metres	Metres
Company
	RC	DD1	Total	RC	DD1	Total

Amara Mining Perseus Mining	21 66 87 5,156 23,815.26 28,971.26 - 388 388 - 137,582.00 137,582.00
Total	21 454 475 5,156 161,397.26 166,553.26

1. DD figures include drill holes with RC pre-collars.

A total of 100 new drill holes for 44,711.9 metres are included in the updated 30 June 2023 Mineral Resource estimate compared with the previous Mineral Resource estimate. The 100 new drill holes targeted infill areas and down-dip extension of the high-grade CMA lode to delineate and increase the confidence of the CMA underground Mineral Resource to support an updated CMA underground Ore Reserve.

DRILL COVERAGE

The CMA underground lodes are delineated by regular drilling at approximately 25 to 30 metres down-dip spaced holes to between 75 and 100 metres and approximately 50 to 60 metres down-dip spacing between 100 to 185 metres below the base of the CMA open pit. The drill spacing is considered sufficient to define Indicated Mineral Resources. Drilling coverage is at greater than 50 metres up to 100 metres spacing to approximately 350 metres below the base of the CMA open pit which is considered sufficient to define Inferred Mineral Resources.

Holes have generally been drilled dipping at -55 to -75 degrees toward 270 degrees (UTM grid) azimuth, approximately orthogonal to the dip and strike of the principal CMA lode, with drill intercept lengths closely approximate to true widths of mineralisation. In the CMA northwest lode, drill holes prior to 2023 are mostly oblique to the lode and the effective along-strike drill spacing is 40 to 50 m and mineralisation true width is approximately 65% of intercept length.

Mineralisation remains open at depth.

SAMPLING

RC drill samples were collected at drill sites over 1 metre intervals and split using multi-stage riffle splitters. Subsample weights were nominally 3 kilograms. For some Amara and most Perseus RC drilling, sample recovery was measured by weighing bulk recovered samples. For Amara and Perseus RC drill campaigns, samples were logged visually for recovery, moisture and contamination. The majority of Amara and Perseus RC samples were logged as dry and sample contamination in RC holes is not considered a significant risk to the reliability of the resource estimate.

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SAMPLE ANALYTICAL METHODS

Samples were mainly prepared on site by Cluff, Amara and Perseus in a dedicated sample preparation facility. Sample preparation typically comprised drying, crushing to -2 millimetres and pulverising of a 1.5-kilogram subsample. Internal laboratory checks required at least 85% of the pulp passing -75 microns. The remainder of samples were prepared by commercial laboratories using nearly identical schemes.

Assaying has been carried out by various commercial laboratories consistently using 50-gram Fire Assay (“FA”) technique with Atomic Absorption Spectroscopy (“AAS”) determination prior to 2023. Since February 2023, gold analyses have preferentially been attained via the Chrysos PhotonAssay™ determination method at MSALABs in Yamoussoukro.

A consistent regime of quality assurance has been employed including submission of duplicate pulp samples, coarse blanks and certified reference materials.

ESTIMATION METHODOLOGY

Discrete individual lodes (domains) were modelled using the interval selection tool and vein modelling function in Leapfrog Geo™. Domain intervals were selected based on geological characteristics of the CMA mineralisation and a nominal cut-off grade of 0.5 g/t gold.

The estimation approach and estimate search strategy was chosen on an individual domain basis based on inputs criteria including the number of samples, drill hole spacing, lode (domain) orientation and variogram model analysis. Estimates were undertaken as hard boundaries into parent blocks with dimensions of 10.0 mE by 12.5 mE by 5.0 mRL. The block size was selected based on drill hole spacing, the geometry of the mineralisation and the selective mining unit. Parent blocks were sub-blocked to 0.625 mE by 3.125 mN by 0.3125 mRL to improve the volume definition of the domains.

RESOURCE CLASSIFICATION

Indicated Mineral Resources are confined to areas of approximately 25 up to 50 metres drill hole spacing coverage, with Inferred classified estimates in more broadly sampled mineralisation between approximately 50 to 100 metres drill hole spacing coverage. Inferred Mineral Resources generally extend to a maximum of around 50 metres from drilling.

Other general conditions taken into consideration in the classification are as follows:

Kriging Efficiency (KE)
Continuity of grades between drill holes
Confidence in the geological interpretation of mineralisation boundaries.

POTENTIAL FOR EVENTUAL ECONOMIC EXTRACTION

Mineral Resources comprise blocks with an estimated gold grade above 1.5 g/t gold, the average break-even cut-off grade that derives from cost and revenue parameters estimated in the CMA underground feasibility study and based on a gold price of US$1,800/oz.

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There are no regulatory, environmental, or social impact considerations presently known that are likely to impact eventual economic extraction of the Mineral Resource.

OPEN PIT ORE RESERVE

The Ore Reserve for CMA open pit is summarised below in Table 10 and is based on the CMA Mineral Resources as at 30 June 2023. Apart from depletion, the CMA open pit and Yaouré satellite open pit Ore Reserve estimates remain materially unchanged from the estimate reported at 30 June 2019 and readers are referred to ASX release “Perseus Updates Mineral Resource and Ore Reserve Estimates” dated 28 August 2019 for additional details. During FY23, Perseus has increased its Ore Reserve gold price to $1,500/oz from $1,300/oz, however for the CMA open pit, there is no practical additional cutback at $1,500/oz relative to the pre-existing Ore Reserve design based on a $1,300/oz pit shell and the design therefore remains unchanged.

The Ore Reserve for Yaouré open pit is reported within a pit design based on an optimised pit shell and cut-off grades at a $1,500/oz gold price. An increase of 6.9 Mt at 1.82 g/t for 403 koz of material has been added to the June 2022 Yaouré open pit Ore Reserve, for a total of 11.8 Mt at 1.49 g/t for 565 koz of probable Ore Reserves for Yaouré open pit. The combined open pit Ore Reserves for the Yaouré Gold Mine is now 27.8 Mt at 1.56 g/t for 1.4 Moz.

Ore Reserves are reported in accordance with the JORC Code and are reported by category, deposit and type, above variable cut-off grades. The classification categories of Proved and Probable under the JORC Code are equivalent to the CIM Proven Mineral Reserve and Probable Mineral Reserve categories respectively (CIM, 2010). Appendix 3 provides the JORC Table 1 criteria for the Yaouré open pit Ore Reserves.

Table 10: Yaouré Open Pit Proved and Probable Ore Reserves as at 30 June 2023[ 4,5]

			PROVED	PROVED	PROBABLE	PROBABLE	PROBABLE	PROVED + PROBABLE	PROVED + PROBABLE	PROVED + PROBABLE
	DEPOSIT
DEPOSIT		Quantity	Grade	Gold	Quantity	Grade	Gold	Quantity	Grade	Gold
	TYPE
		Mt	g/t gold	’000 oz	Mt	g/t gold	’000 oz	Mt	g/t gold	’000 oz

CMA1,2 Open Pit		-	- - 11.9 1.81 692 11.9						1.81 692
Yaouré2,3 Open Pit			11.8 1.49 565 11.8						1.49 565
Near-Mine Satellite2,3 Open Pit			4.1 1.03 137 4.1						1.03 137
Total		-	- - 27.8 1.56 1,394 27.8						1.56 1,394

Notes:

Based on depletion to 30 June 2023 mining surfaces.
Variable gold grade cut-offs for each material type, ranging from 0.35 g/t to 0.75 g/t.
Pit designs are based on US$1,300/oz gold price for satellites and US$1,500/oz for CMA and Yaouré open pit.
Inferred Mineral Resource is considered as waste for optimisation purposes.
Rounding of numbers to appropriate precision may have resulted in apparent inconsistencies.

CUT-OFF GRADES

Cut-off grades for the Yaouré open pit Ore Reserve range from 0.45 g/t to 0.75 g/t depending upon material type. Cut-off calculation revenues are estimated at a gold price of $1,500/oz. Cut-off grades are based on calculated grades and rounded up to the nearest 0.05 g/t.

Table 11: Yaouré Open Pit Ore Reserve Cut-off Grades

MATERIAL TYPE	OXIDE	TRANSITION	YAOURÉ BASALT	YAOURÉ GRANODIORITE
Cut-off (g/t) 0.45		0.50 0.75 0.60

The cut-off grade for the Yaouré basalt fresh material type is significantly higher than for the fresh granodiorite due to the much lower processing rate for this material (2.5 Mt/y for basalt vs 3.2 Mt/y for the granodiorite).

Un-escalated average costs used in optimising pit designs are as shown in Table 12 below. A rate of 10% (real) has been assumed to discount cash flows.

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Table 12: Average operating costs

1. MINING (OPEN PIT)	2. PROCESSING	3. G&A	4. SELLING	5. ROYALTIES1
US$3.21/t mined US$17.28/t milled		US$9.30/t milled US$3.05/oz sold 4.5%

Notes: 1. Includes 0.5% contribution to Community Development Fund.

MINING ASSUMPTIONS

The chosen method for the Open Pit Reserves is conventional open pit mining utilising hydraulic excavators and trucks, mining bench heights of 10 metres with 2.5 metre flitches to minimise ore loss and waste rock dilution.
The Yaouré open pit Ore Reserve is based upon a reblocked version of the Yaouré open pit Mineral Resource model. The Ore Reserve model has been reblocked to 4.0 m × 4.0 m × 2.5 m block size, which introduces a dilution of 8% additional ore tonnes for 11% reduction in grade and mining recovery of 96% of ounces relative to the sub-blocked Mineral Resource model.
The economic pit shell was defined using Whittle pit optimisation software (“Whittle”) with inputs such as geotechnical parameters, metallurgical recovery and mining costs.
The pit optimisation was run with revenue generated only by Measured and Indicated Mineral Resources. No value was allocated to Inferred Mineral Resources.
Whittle input parameters are based on Perseus site operating experience in similar deposits at Yaouré and supporting technical studies undertaken as part of the Yaouré Feasibility study.
The pit slope designs are based on a geotechnical study by Pitt & Sherry Consultants. Inter-ramp slope angles are 30 to 40 degrees inclusive of berms spaced at 10 metres vertically and berm widths of 4.5 to 7 metres.
Pit ramps have been designed for a 100-tonne payload truck fleet and are set at 24 metres (dual lane) to 16 metres (single lane). Minimum mining width is 40 metres for the 100-tonne class truck fleet.
Vertical mining advance has been capped based on Perseus’s operating experience.
No environmental issues are known to exist which will prevent open pit mining and ore processing to continue to operate.
Perseus has ongoing studies to update the Yaouré waste dump and tailings dam designs, to include the new Yaouré open pit Ore Reserves, however we are not aware of any reason why such additional capacity will not be sufficiently available on site. Capacity on site is permitted for the required volumes of waste and tailings.

PROCESSING PARAMETERS

The process metallurgical recovery for gold is fixed by material type in each deposit. Gold recovery rates range from 92.6% for the fresh Yaouré basalt ore to 93.8% for the Yaouré granodiorite ore. Recovery is shown in Table 13.
No deleterious material has been identified.
Average annual processing throughput rate of ore is 3.9 Mt/y for oxide and transitional ore and 2.5 Mt/y and 3.2 Mt/y for Yaouré basalt and Yaouré granodiorite respectively. The processing circuit comprises crushing, grinding, gravity and cyanide leaching to extract gold.

Table 13: Metallurgical Recoveries by Material Type and Pit

	METALLURGICAL RECOVERIES BY ORE TYPE (%)
DEPOSIT
	Oxide Transition Fresh Basalt Fresh Granodiorite

Yaouré 93.0 93.3 92.6 93.8

CRITERIA FOR ORE RESERVE CLASSIFICATION

Ore Reserves have been classified based on the underlying Mineral Resource classifications and a Feasibility level study for the Yaouré Gold Mine. Mineral Resources were classified as Indicated and Inferred. The Ore Reserves, based only on the Indicated Resources, have been classified as Probable Ore Reserves, respectively.

The Ore Reserve is classified as Probable in accordance with the JORC Code, corresponding to the Mineral Resource classification of Indicated and taking into account other modifying factors where relevant.

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The Ore Reserve classification is considered appropriate given the nature of the deposit, metallurgical testwork, drilling density, structural complexity and mining and processing history at Yaouré Gold Mine. Therefore, it was deemed appropriate to use Indicated Mineral Resources as a basis for Probable Ore Reserves.

No Inferred Mineral Resources are included in the Ore Reserve estimate.

UNDERGROUND ORE RESERVE

The CMA underground Ore Reserve is supported by Feasibility-level studies which establish the technical and economic viability of the CMA underground project. Studies include metallurgical, geotechnical and hydrogeological testwork, as well as individual analysis and investigations in relation to mining ventilation, capital development options (portal locations), open pit and underground geotechnical assessment and mining, processing and infrastructure capital and operating cost estimates. Studies have been undertaken by Perseus technical staff and expert consultants.

The FY23 CMA underground Ore Reserve is shown in Table 14 below.

Table 14: CMA Underground Probable Ore Reserves[1,2,3]

		PROVED	PROBABLE	PROVED + PROBABLE
DEPOSIT	DEPOSIT TYPE	QUANTITY GRADE GOLD	QUANTITY GRADE GOLD	QUANTITY GRADE GOLD
		Mt g/t gold ’000 oz	Mt g/t gold ’000 oz	Mt g/t gold ’000 oz
CMA Underground		- - - 4.9 3.51 559 4.9 3.51 559
TOTAL		- - - 4.9 3.51 559 4.9 3.51 559

Notes:

Based upon cut-off for development and stoping of 0.5 g/t and 2.5 g/t respectively.
Inferred Mineral Resource is considered as waste for optimisation purposes.
Rounding of numbers to appropriate precision may have resulted in apparent inconsistencies.

CUT-OFF GRADES

Cut-off grades for the CMA underground Ore Reserve range from 0.5 g/t for development ore to 2.5 g/t for production (stoping) ore. Cut-off calculation revenues are estimated at a gold price of $1,500/oz, and are inclusive of royalties, mining, processing and governance and administration (G&A) costs where relevant.

MINING ASSUMPTIONS

The CMA underground will be mined by a combination of flat longhole open stoping and conventional longhole open stoping mining methods. These methods have been selected as the most cost effective and productive mining methods for the flat-dipping CMA orebody. The mining method is dependent upon the dip of the orebody which ranges from 5 degrees to 20 degrees for the majority of flat longhole stoping, and from 50 degrees up to 62 degrees for conventional longhole stoping. The mine design encompasses significant variability in plunge and dip across the deposit, for which a flexible mining method is required. Flat longhole stoping accounts for the majority of ore tonnes (98%), while conventional stoping applies only to the CMA northwest area of the mine (2% of ore tonnes).

Mining equipment will be mechanised, and equipment is planned to include electric-hydraulic drills for development and production, and rubber tyred loaders and trucks for load and haul activities. Production loading will incorporate tele-remote loading for non-entry mining stopes.

The CMA underground is based on a “no backfill” case for mining the CMA deposit. At this stage, a high recovery of the CMA orebody using pillars means that backfill is not part of the mine plan. If Ore Reserves increase and the mine gets deeper, there may be a case in the future for implementation of a reticulated backfill system such as paste fill.

Mining extraction ratios for CMA underground Ore Reserves are dependent upon the dimensions and spacing of pillars throughout the orebody. The CMA Ore Reserve assumes 40 metre open stopes (along strike) and pillars of 10 metres by 10 metres, which combines with strategically placed vent pillars to provide an overall 81% extraction ratio (mining recovery). Forty metre stope strike extents are considered a practical distance over which to successfully operate remote loaders to recover ore from flat longhole open stopes.

Planned dilution (within mining stopes) for the CMA underground flat longhole open stoping is 34% (on tonnes basis) based upon a production (stoping) cut-off of 2.5 g/t. Thirty four percent is relatively high dilution for longhole stoping, however this is not unexpected due to the flat footwall of the stopes (slope of 1:6), which is designed to accommodate trafficability by remote loaders to ensure planned stoping (mining) recoveries are achievable. A minimum mining

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width of 4.0 m is assumed for flat stoping types and 3.0 m for longhole (conventional) stoping to allow access to stopes by large, mechanised mining equipment.

Unplanned dilution (additional to mining shapes) is 5% for development and 10% for production.

Mining recoveries applied to flat and conventional longhole stoping across the whole of the mine (including the crown pillar) are in addition to mining recovery due to pillars of 81% stated above.

In addition to ore loss (mining recovery) due to pillars, a mining recovery factor of 90% is applied to flat longhole stopes, except for within the crown pillar where a lower recovery factor of 50% is assumed.

Mining recovery for conventional longhole open stopes in the CMA northwest is 70%, due to the steeper minimum footwall angle of 40 degrees which will neither rill nor be trafficable by loaders. It is envisaged that for this small proportion of the orebody (2% of tonnes), hydraulic or other assistance will be required to slough ore from the footwall.

MINE DESIGN

Development design for CMA underground consists of two pairs of portals, and an extra single intake portal, making 5 development breakthroughs into the CMA open pit. The south and north portal pairs (one each of intake and exhaust, north and south) are to be established concurrently and both pairs are located on the west wall of the CMA open pit. Twin intake and exhaust portals are required to maintain ventilation quantities (total of 540 m[3] /s) once full production rates of 720 kt/y are reached. The exhaust portals also function as emergency egress. Due a relatively deep weathering profile at Yaouré and the availability of the CMA open pit void, lateral development in fresh rock material is more cost effective than vertical shafts. CMA underground Ore Reserve design is shown in Appendix 1 – Figures 5, 7 and 8 .

Development ore drives are nominally 4.7 metres wide by 5.0 metres high, however both drive height and width can increase to accommodate the dimensions of the orebody.

Ore development drives can be very steep in places and are designed to follow the orebody on a pre-defined bearing, with variations in gradient taken under geological control to maintain the drive position within the orebody. Maximum development gradients are 1 m vertical for every 5.5 m or horizontal advance (1:5.5). Development rates have been reduced to as low as 40 m per month per heading to accommodate for slower advance in areas of steep development. Further engineering studies planned for FY24 to incorporate new ore will also reduce ore drive development gradients wherever practicable.

Production design for flat longhole open stopes include a footwall design slope of 1:6 to allow trafficability for remote loaders. Flat longhole stopes are spaced 10 metres horizontally apart (wall to wall), which limits the length of production drillholes to a practical and achievable length of less than 16 metres, depending upon the forward angle of the holes and the dip of the orebody. The slightly steeper dipping conventional longhole stopes (in the CMA northwest) are nominally spaced 20 metres vertically apart and have a minimum footwall angle of 40 degrees.

Stope optimisations were run on only Indicated Mineral Resources. Inferred Mineral Resources were considered as waste for the purposes of optimisation. There are no Measured Mineral Resources for the CMA underground.

MINE SCHEDULE

A mine schedule for the CMA underground Ore Reserve has been developed. The maximum production rate for the CMA underground is 720 kt/y (60 kt per month of ore). Based on current assumptions of development and production rates, the limiting constraints are the number of available headings. The mining sequence is a combination of topdown and bottom-up mining, providing flexibility for production to be maintained depending upon the available number of development headings and stoping areas.

METALLURGICAL ASSUMPTIONS

The Yaouré processing plant uses crushing, grinding, gravity and cyanide leaching to extract gold. The plant has a nominal nameplate capacity of 3.3 Mt/y on fresh ore grinding to grind size P80 of 75 µm. The technology used in the processing plant is well proven, and the plant has been operating successfully since December 2020.

Test work and analysis for the CMA underground has resulted in the generation of a metallurgical processing recovery formula which represents the spatial distribution of processing recovery across the orebody.

The processing recovery formula has been incorporated into the mine schedule to apply recoveries based on the spatial location of the relevant mining shape. The range of processing recoveries estimated by the recovery formula for the CMA underground Ore Reserve ranges from 80.5% to 92.1% on a monthly basis. The optimum recovery is

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achieved at a grind size P80 of 53 µm, slightly finer than the grind size P80 of 75 µm for the open pit ore. Cost vs benefit studies have been undertaken to determine whether a batch treatment or blending option will be most beneficial for the CMA underground ore, with batch processing currently the preferred option. The underground ore will therefore be batch treated utilising more of the available installed ball mill power to achieve a finer grind.

The average metallurgical processing recovery for the CMA underground Ore Reserves is 87.2%.

INFRASTRUCTURE

Power, water, workshops, offices, storage of reagents and laboratory are established at the processing plant to support open pit and processing activities for the existing Yaouré Gold Mine.

A camp is established to accommodate non-local employees, and this will be expanded to accommodate the underground workforce.

Additional contractor and client offices, changerooms and workshop facilities will be established for the CMA underground. Costs have been accounted for in the CMA underground development capital estimate.

COSTS

Costs for CMA underground Ore Reserves include contractor pricing estimates, capital costs generated by Perseus based upon experience of project construction and operating in West Africa, and supplier cost quotes to feasibility level. Where possible, known costs from the Yaouré Gold Mine were included in the CMA underground study, including for local labour, site-based costs and consumables common to the underground and the existing open pit operation (such as diesel). All costs are calculated on a pre-tax basis.

Overall mining costs for the CMA underground range from US$50-60/t ore, excluding sustaining capital of US$11-13M and Project development capital estimated at US$125M to US$135M. Project development capital is inclusive of capitalised pre-production operating costs up until commercial production rates of 50 kt per month are achieved and includes LOM capital development.

Processing and G&A costs are estimated to be US$14.76/t ore and US$7.26/t ore respectively, depending upon the ore blend and therefore the processing throughput. All costs, metal prices and revenues are in United States Dollars (USD).

All costs are to a feasibility level of accuracy.

ECONOMIC ASSUMPTIONS

A gold price of US$1,500/oz is used for mine planning and generating cut-off grades for stope optimisation.

Economic modelling by Perseus is at US$1,500/oz.

Bullion and refining cost of US$3.05/oz is assumed, as is a government royalty of 4.5% of the metal price (includes 0.5% contribution to Community Development Fund).

All-in Site Cost (AISC) for the CMA UG Ore Reserves are in the range US$1,000oz to US$1,100/oz.

ENVIRONMENT AND PERMITTING

There are currently no large-scale, mechanised underground mines in Côte d’Ivoire, and as such there is no specific underground mining regulation. Recent experience of other mining companies in neighbouring West African jurisdictions is that this does not preclude the development of underground projects.

Perseus will continue to engage the Ivorian government in relation to permitting and future underground development at Yaouré, including the CMA underground.

CRITERIA FOR ORE RESERVE CLASSIFICATION

Ore Reserves have been classified based on the underlying Mineral Resources classifications. Ore Reserves, based on Indicated Resources, have been classified as Probable Ore Reserves.

The Ore Reserve classification is considered appropriate given the Feasibility level study which supports the Ore Reserve, based upon expert test work and analysis at the appropriate level of confidence.

Stope optimisations were run on only Indicated Mineral Resources. Inferred Mineral Resources were considered as waste for the purposes of optimisation.

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In addition to the conversion of Indicated Mineral Resources, there are some development Ore Reserves which are above the COG of 0.5 g/t, but below the Mineral Resource cut-off of 1.5 g/t. These ounces are not therefore a subset of the Mineral Resource. This material accounts for 5.5 kt or 200 ounces (<0.04% gold ounces) which is included within the Ore Reserve. This incidental mineralisation is not considered material to the CMA underground Ore Reserve.

STOCKPILES

Mineral Resources and Ore Reserves contained in stockpiles are based on volume estimates from ground survey data, loose bulk densities are derived over time by reconciliation of volumes mined (at in situ densities) compared to stockpile movements and calculated volumes, with estimates of stockpile grades based on predicted grades of mined material transferred onto stockpiles compared to material depleted by processing.

Closing Yaouré stockpiles at 30 June 2023 were estimated as shown in Table 15 .

Table 15: Yaouré Closing Stockpiles[1 ]

MATERIAL	QUANTITY kt	GRADE g/t gold	GOLD ’000 oz
Low grade	4,256	0.76	105
Medium grade	19	1.17	1
High grade	83	2.87	8
Crushed ore stockpile	82	2.39	6
Total	4,441	0.84	119

Notes:

1 Stockpile tonnage and grade estimates are considered sufficiently accurate to support their classification as Measured Mineral Resources and Proved Ore Reserves.

It is assumed that all Ore Reserve material is mined and fed to the processing plant during Yaouré mine life based on the material blending schedule and all the material is rehandled on the ROM stockpile.

CMA UNDERGROUND AND YAOURÉ OPEN PIT RESOURCE DEFINITION DRILLING

Perseus last announced results of drilling completed at CMA on 18 January 2023 with ASX Release “Perseus Drilling Demonstrates Potential for Additional Gold Resources at Yaouré Gold Mine”. Perseus has now completed the infill and extensional drilling targeting the CMA and Yaouré lodes; the results from which are included in the 2023 Yaouré open pit, CMA open pit and underground Mineral Resource update detailed in this release.

Infill and extensional drilling completed since the ASX release in January of the defined CMA underground and Yaouré open pit Mineral Resource confirms further high-grade gold mineralisation, with recent results including:

CMA underground resource drilling

YRC2181D: 13.2 m @ 9.4 g/t gold from 332.0 m
YRC2186D: 12.0 m @ 6.7 g/t gold from 363.0 m; including 3.0 m @ 13.45 g/t gold from 365.0 m
YRC2195D: 13.0 m @ 5.2 g/t gold from 20.0 m; including 9.0 m @ 7.03 g/t gold from 20.0 m
YRC2187D: 15.2 m @ 4.5 g/t gold from 362.0 m; including 3.0 m @ 7.67 g/t gold from 367.0 m and 2.0 m @ 12.85 g/t gold from 373.0 m
YRC2220D: 12.0 m @ 5.5 g/t gold from 414.0 m; including 2.0 m @ 21.0 g/t gold from 424.0 m.

Yaouré open pit resource drilling

YRC2309D: 4.0 m @ 76.8 g/t gold from 36.0 m
YRC2249D: 5.0 m @ 45.9 g/t gold from 151.0 m; including 3.0 m @ 75.55 g/t gold from 151.0 m
YRC2248D: 28.3 m @ 6.6 g/t gold from 20.0 m; including 8.0 m @ 12.20 g/t gold from 24.0 m and 3.0 m @ 18.76 g/t gold from 40.0 m
YRC2226D: 5.0 m @ 35.2 g/t gold from 151.0 m

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YRC2272D: 58.6 m @ 2.31 g/t gold from 146.0 m; including 5.0 m @ 8.45 g/t gold from 188.0 m
YRC2292D: 10.5 m @ 11.8 g/t gold from 67.7 m; including 3.3 m @ 34.54 g/t gold from 74.0 m
YRC2300: 10.0 m @ 12.4 g/t gold from 52.0 m; including 2.0 m @ 59.02 g/t gold from 55.0 m
YRC2329: 15.0 m @ 8.2 g/t gold from 28.0 m; including 4.0 m @ 28.90 g/t gold from 37.0 m
YRC2286D: 5.0 m @ 22.7 g/t gold from 125.0 m; including 3.0 m @ 36.51 g/t gold from 126.0 m
YRC2250D: 4.9 m @ 22.4 g/t gold from 92.2 m
YRC2289D: 12.1 m @ 6.5 g/t gold from 54.1 m; including 3.6 m @ 18.81 g/t gold from 59.0 m
YRC2312D: 3.0 m @ 23.2 g/t gold from 158.0 m
YRC2328: 4.0 m @ 16.5 g/t gold from 9.0 m.

Selected intercepts from the Yaouré open pit and CMA underground drilling are shown in Appendix 1 - Figures 4 and 6 . A complete summary of significant drilling results for the Yaouré open pit and CMA underground are included in Appendix 2 – Table 2.1 .

NEXT STEPS

Perseus will prepare an updated LOM for the Yaouré Gold Mine during the September Quarter 2023, including the combined results of the expanded Yaouré open pit and the CMA underground feasibility study.

Perseus is undertaking both resource definition drilling and down-plunge exploration drilling for the CMA underground project, in order to further convert Inferred Mineral Resources to Indicated Mineral Resources, and to extend the Inferred Mineral Resource further down-plunge, and to the north of the current CMA Ore Reserve.

For Yaouré open pit, further extensional drilling and extended geotechnical and metallurgical test work regimes at the is budgeted for the FY24 financial year. Drilling and test work programs will be followed by assessment of potential for further expansion of Yaouré Mineral Resources and Ore Reserves by the end of FY24.

This announcement has been approved for release by Jeff Quartermaine, Managing Director and CEO.

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Competent Person Statement:

The information in this report that relate to Mineral Resources for CMA open pit, CMA underground, Yaouré open pit and exploration drilling results at the Yaouré Project is based on, and fairly represents, information and supporting documentation prepared by Hans Andersen, a Competent Person, employee of Perseus and Member of the Australian Institute of Geoscientists. Mr Andersen, has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’) and to qualify as a “Qualified Person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Hans Andersen consents to the inclusion in the report of the matters based on his information in the form and context in which it appears .

The information in this report that relate to Mineral Resources for Yaouré’s open pit Satellite Deposits, Heap Leach and Stockpiles at the Yaouré Project is based on, and fairly represents, information and supporting documentation prepared by Matt Bampton, a Competent Person, employee of Cube Consulting Pty Ltd and Member of the Australian Institute of Geoscientists. Mr Bampton, has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’) and to qualify as a “Qualified Person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Matt Bampton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears .

The information in this report that relates to Ore Reserves for CMA open pit, CMA underground and Yaouré open pit is based on information compiled by Mr Adrian Ralph, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Ralph is a full-time employee of Perseus Mining. Mr Ralph has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” and a Qualified Person as defined in NI43-101. Mr Ralph consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Ore Reserves for Yaouré open pit Satellite Deposits, Heap Leach and Stockpiles at the Yaouré Project is based on information compiled by Mr Quinton de Klerk, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr de Klerk is a full-time employee of Cube Consulting Pty Ltd. Mr de Klerk has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” and a Qualified Person as defined in NI43-101. Mr de Klerk consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The Company confirms that material assumptions underpinning the estimates of Ore Reserves described in “Technical Report — Yaouré Gold Project, Côte d’Ivoire” dated 18 December 2017 continue to apply.

Caution Regarding Forward Looking Information:

This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of gold, continuing commercial production at the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold Mine without any major disruption, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forwardlooking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. The Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the Company’s ability to carry on its exploration and development activities, the timely receipt of required approvals, the price of gold, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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ASX/TSX CODE: PRU

REGISTERED OFFICE:

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

www.perseusmining.com

CONTACTS: Nathan Ryan Media Relations +61 4 20 582 887 [email protected] Jeff Quartermaine Managing Director & CEO [email protected]

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APPENDIX 1 - FIGURES

Figure 1: Yaouré Gold Project – Tenements and Prospects

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Figure 2: Yaouré Gold Mine Site Layout Showing Deposit Locations

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Figure 3: Orientation of Major Mineralised Y and S Structures in Relation to Yaouré Mine Designs

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Figure 4 4: Yaouré Open Pit and CMA Underground Resource Drilling and Results Summary

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Figure 55: 30 June 2023 CMA Underground Mineral Resource and Ore Reserve Long Section

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Figure 66: Yaouré Open Pit Resource showing Indicated and Inferred Resource Estimate above 0.4 g/t Gold Cut-off – Drill Section 777,250mN (+/-12.5m window)

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Figure 77: Isometric (inclined) view of CMA Stage 3 Open Pit and CMA Underground Ore Reserve showing Pillar Locations

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Figure 88: Isometric view of the CMA stage 3 pit, underground Ore Reserve design shown coloured by mining schedule

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APPENDIX 2 – SIGNIFICANT INTERCEPTS TABLES

Table 2.1: CMA underground and Yaouré open pit resource drilling - drill holes and significant assays

Based on lower cut-off of 0.5 g/t gold with maximum 2m internal waste <0.5 g/t gold

NSI = No Significant Intercepts

Hole ID	East (WGS Z30N)	North (WGS Z30N)	Elevation (WGS Z30N)	Drill Type	Azimuth	Dip	Depth (m)	From (m)	Width (m)	Au (g/t)
CMA Underground Resource Drilling
YRC2178D 221,885.4 777,284.9 292.3 RCD 271 -76.9 415.2 278.0									3.0 0.54
YRC2179D 221,920.1 777,235.1 293.7 RCD 271 -65.2 420.4									NSI
YRC2183D 221,889.6 777,185.0 302.3 RCD 271 -68.6 405.2 360.0									4.4 0.74
YRC2183D And 374.0									19.0 1.48
YRC2184D 221,964.7 777,185.0 307.8 RCD 268 -67.6 450.5 0.0									3.0 1.49
YRC2184D And 263.0									3.0 0.55
YRC2184D And 403.0									2.5 1.45
YRC2184D And 431.0									3.0 0.63
YRC2186D 221,869.7 777,135.1 314.7 RCD 265 -60.9 405.3 363.0									12.0 6.70
YRC2186D Including 365.0									3.0 13.45
YRC2186D And 392.0									2.0 0.56
YRC2187D 221,874.8 777,135.1 315.1 RCD 268 -68.1 415.3 5.0									2.0 1.70
YRC2187D And 362.0									15.2 4.50
YRC2187D Including 367.0									3.0 7.67
YRC2187D Including 373.0									2.0 12.85
YRC2188D 221,899.7 777,084.9 327.5 RCD 272 -61.5 425.3 26.0									6.0 2.11
YRC2188D And 333.0									2.0 1.30
YRC2188D And 363.0									8.0 1.12
YRC2188D And 393.5									3.3 4.38
YRC2189D 221,904.9 777,085.1 327.9 RCD 269 -69.1 435.0 24.0									5.0 1.69
YRC2189D And 343.0									4.0 7.96
YRC2189D And 387.0									2.0 1.02
YRC2189D And 397.0									2.0 0.59
YRC2189D And 409.0									2.0 0.62
YRC2190D 221,910.0 777,085.2 328.1 RCD 271 -75.8 453.7 412.0									3.0 0.87
YRC2191D 221,914.9 777,085.5 328.3 RCD 267 -82.6 470.8 445.0									2.2 1.74
YRC2192D 221,849.4 777,534.9 278.5 RCD 269 -69.1 420.4 199.0									2.0 2.87
YRC2192D And 375.0									3.6 0.88
YRC2192D And 395.0									4.0 3.35
YRC2193D 221,844.7 777,534.9 278.3 RCD 270 -53.6 405.1 115.0									3.0 2.61
YRC2193D And 370.0									3.0 0.58
YRC2193D And 376.0									12.0 3.68
YRC2193D Including 377.0									3.0 11.85

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Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2193D And	396.0	2.0 1.52
YRC2194D 221,854.8 777,535.5	278.9 RCD 271 -82.6 455.3 80.0	3.0 1.44
YRC2194D And	152.0	4.0 0.91
YRC2194D And	403.0	2.0 1.23
YRC2194D And	418.6	8.4 2.88
YRC2195D 221,844.6 777,575.2	276.3 RCD 273 -82.5 453.5 20.0	13.0 5.24
YRC2195D Including	20.0	9.0 7.03
YRC2195D And	142.0	3.0 1.38
YRC2195D And	377.0	3.0 1.02
YRC2195D And	426.0	5.0 3.29
YRC2195D Including	428.0	2.0 6.67
YRC2196D 221,855.2 777,685.0	268.9 RCD 274 -78.6 470.2 21.0	4.0 4.49
YRC2196D And	73.0	2.0 2.29
YRC2196D And	423.0	4.0 3.57
YRC2196D And	443.0	8.0 0.84
YRC2197D 221,879.5 777,385.0	298.5 RCD 276 -86.7 468.5 160.0	4.0 1.56
YRC2197D And	188.0	4.0 0.53
YRC2197D And	449.0	13.0 1.76
YRC2198D 221,885.1 777,385.4	299.2 RCD 96 -86.3 501.3 142.0	2.0 0.88
YRC2198D And	155.0	3.0 1.95
YRC2198D And	227.0	2.0 0.61
YRC2198D And	234.0	3.0 0.60
YRC2198D And	469.1	5.9 1.62
YRC2198D And	480.0	8.0 2.84
YRC2198D Including	484.0	2.0 6.67
YRC2198D And	492.0	9.0 1.46
YRC2199D 221,904.9 777,334.6	299.9 RCD 305 -86.7 475.5 240.0	2.0 1.66
YRC2199D And	445.0	11.7 1.68
YRC2200D 221,925.2 777,285.0	298.9 RCD 247 -82.2 455.3 279.0	2.0 0.94
YRC2200D And	305.0	4.0 2.51
YRC2200D And	410.0	8.0 2.93
YRC2200D And	423.0	4.0 1.01
YRC2200D And	432.0	2.0 1.03
YRC2201D 221,854.8 777,484.9	282.8 RCD 234 -89.7 480.8 136.0	3.0 0.70
YRC2201D And	428.0	2.0 14.38
YRC2201D And	442.0	5.0 0.85
YRC2201D And	471.0	5.0 1.83
YRC2202D 222,014.5 777,034.9	354.9 RCD 274 -67.9 489.9 75.0	2.0 0.62
YRC2202D And	361.0	2.0 0.56

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Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2202D And	389.0	4.0 1.74
YRC2202D And	468.0	6.0 0.73
YRC2203D 221,974.9 776,934.9	357.5 RCD 271 -67.2 465.4 4.0	4.0 0.51
YRC2203D And	301.0	2.1 1.38
YRC2203D And	315.0	12.0 1.21
YRC2204D 221,829.7 776,785.3	349.7 RCD 273 -70.4 370.7 175.0	2.0 1.01
YRC2204D And	256.0	8.0 4.05
YRC2204D And	354.0	2.0 0.65
YRC2205D 221,880.3 776,685.1	337.3 RCD 270 -75.5 395.3 355.5	2.3 0.66
YRC2206D 221,805.3 776,685.0	341.9 RCD 270 -69.5 351.3 0.0	4.0 0.50
YRC2207D 221,804.9 776,585.2	337.1 RCD 270 -67.1 340.3 4.0	4.0 0.57
YRC2208D 221,904.1 776,585.0	324.9 RCD 269 -70.1 380.5	NSI
YRC2209D 221,930.3 777,285.1	299.1 RCD 287 -85.4 480.3 433.0	4.0 2.63
YRC2209D And	468.0	11.1 1.43
YRC2210D 221,899.3 777,334.9	299.2 RCD 272 -80.4 450.2	NSI
YRC2211D 221,556.0 777,735.9	255.8 RCD 270 -65.9 300.3 52.0	4.0 4.32
YRC2211D And	120.0	5.0 2.24
YRC2211D And	262.0	10.0 2.33
YRC2212D 221,558.6 777,779.9	254.9 RCD 267 -63.1 336.3 131.0	5.0 1.03
YRC2212D And	304.0	10.0 3.43
YRC2212D Including	307.0	2.0 7.82
YRC2213D 221,603.2 777,735.7	257.8 RCD 272 -66.6 320.2 140.0	2.0 1.60
YRC2213D And	147.0	4.0 1.13
YRC2213D And	293.0	11.0 3.21
YRC2213D Including	296.7	5.5 5.16
YRC2214D 221,630.9 777,780.0	257.1 RCD 270 -67.0 372.1 217.0	4.0 0.52
YRC2214D And	301.0	2.0 1.18
YRC2214D And	334.4	4.6 7.61
YRC2214D And	343.8	2.5 2.04
YRC2214D And	350.8	2.2 4.36
YRC2215D 221,849.8 777,685.1	268.7 RCD 269 -72.3 450.3 12.0	4.0 3.13
YRC2215D And	25.0	5.0 0.80
YRC2215D And	140.0	2.0 0.84
YRC2215D And	412.0	2.0 4.08
YRC2215D And	417.0	4.0 2.57
YRC2215D And	424.0	8.0 3.12
YRC2216D 221,714.0 777,736.0	267.0 RCD 270 -63.7 390.2 295.7	8.3 2.16
YRC2216D And	357.0	14.0 2.74
YRC2216D Including	364.5	3.4 8.80

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Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2217D 221,849.9 777,785.0	267.5 RCD 270 -62.6 480.3 54.0	5.0 3.20
YRC2217D And	315.0	3.0 1.67
YRC2217D And	376.0	13.0 2.63
YRC2217D And	437.0	6.0 1.99
YRC2217D And	456.0	16.0 2.66
YRC2217D Including	460.0	5.0 5.08
YRC2218D 221,850.2 777,634.9	272.4 RCD 273 -82.3 465.5 359.0	4.0 1.81
YRC2218D And	454.2	2.4 3.86
YRC2219D 221,849.9 777,484.9	282.3 RCD 270 -81.1 445.6 405.7	5.3 4.96
YRC2219D And	424.0	7.0 3.90
YRC2219D Including	424.0	2.0 9.21
YRC2220D 221,865.6 777,435.1	289.9 RCD 276 -80.4 456.5 414.0	12.0 5.50
YRC2220D Including	424.0	2.0 21.0
YRC2220D And	446.1	3.6 3.21
YRC2221D 222,074.7 776,635.0	296.3 RCD 267 -59.5 438.2	NSI
YRC2222D 221,975.0 777,234.7	308.5 RCD 270 -73.2 471.6 17.0	2.0 1.30
YRC2222D And	410.6	5.4 0.81
YRC2222D And	427.0	5.0 0.79
YRC2222D And	437.0	4.0 0.99
YRC2223D 221,848.4 777,583.5	276.0 RCD 270 -64.3 420.9 16.0	9.0 4.94
YRC2223D Including	16.0	1.0 18.89
YRC2223D And	384.0	6.0 0.60
YRC2223D And	397.6	4.5 4.24
YRC2224D 221,850.7 777,583.3	276.2 RCD 270 -72.0 435.4 27.0	3.0 5.82
YRC2224D And	357.0	3.0 3.48
YRC2224D And	408.0	4.0 2.58
Yaouré Open Pit Resource Drilling
YDD0579 220,620.1 777,149.7 211.1 DD 263 -60.3 183.4 137.1		4.9 2.60
YDD0579 And 157.0		4.0 0.89
YDD0579 And 164.0		11.0 7.27
YDD0579 Including 164.0		6.0 12.0
YDD0580 221,028.9 777,549.8 238.9 DD 269 -60.6 243.1 38.0		3.0 0.57
YDD0580 And 68.0		4.0 2.92
YDD0580 And 160.0		6.0 6.00
YDD0580 Including 160.0		2.0 16.19
YDD0580 And 192.5		4.5 1.00
YDD0581 220,585.9 777,147.5 212.8 DD 269 -60.5 132.6 2.0		5.0 2.00
YDD0581 And 11.0		15.0 12.86
YDD0581 Including 17.6		3.4 32.52

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Hole ID	Elevation (WGS Z30N)	Width (m)
YDD0581 Including	24.0	2.0 34.50
YDD0581 And	76.5	11.5 16.25
YDD0581 Including	77.0	3.0 42.87
YDD0581 Including	86.0	1.0 23.58
YDD0581 And	93.0	6.0 0.60
YDD0581 And	102.0	2.3 1.78
YDD0581 And	122.0	3.0 5.08
YDD0582 220,493.7 776,899.9	251.2 DD 272 -60.0 111.3 36.9	4.1 1.35
YDD0582 And	52.0	3.0 1.74
YDD0583 220,502.0 776,849.8	253.9 DD 268 -59.1 111.2 55.0	2.0 1.71
YDD0583 And	80.3	3.7 1.92
YDD0584 220,930.6 777,599.8	236.7 DD 269 -72.5 244.6 0.0	22.0 1.31
YDD0584 And	34.0	3.0 6.41
YDD0584 And	70.0	3.0 1.88
YDD0584 And	78.0	3.0 1.32
YDD0584 And	86.1	2.8 0.85
YDD0584 And	126.4	2.7 3.48
YDD0584 And	218.0	3.0 1.36
YDD0584 And	230.0	3.0 1.06
YDD0585 220,903.5 777,651.0	235.7 DD 87 -60.3 180.3 91.1	2.0 2.97
YDD0585 And	150.0	2.0 1.58
YDD0586 220,846.5 777,700.2	235.7 DD 0 -75.1 162.6	NSI
YDD0587 220,996.1 776,969.5	250.0 DD 144 -74.0 102.6 15.0	8.3 1.06
YDD0587 And	23.6	3.8 1.15
YDD0587 And	35.6	6.4 0.53
YDD0587 And	48.7	5.0 0.57
YDD0587 And	71.9	2.1 5.31
YDD0588 220,956.1 776,475.3	282.7 DD 113 -74.8 120.5 45.4	3.8 0.57
YDD0589 And	100.1	2.5 6.86
YDD0589 And	170.5	8.2 0.99
YDD0590 220,846.6 777,701.1	235.7 DD 264 -80.7 160.6 3.0	2.0 0.95
YDD0590 And	28.0	2.0 1.51
YDD0590 And	110.0	2.0 1.87
YDD0591 220,938.9 777,758.0	241.9 DD 269 -59.3 133.3	NSI
YDD0593 220,782.1 777,199.9	213.1 DD 266 -59.4 207.3 38.9	8.8 3.11
YDD0593 Including	41.0	3.7 5.51
YDD0593 And	56.0	12.6 1.16
YDD0593 And	82.0	3.0 4.97
YDD0593 And	97.0	2.0 3.10
YRC2225D 221,005.9 776,549.9	279.0 RCD 272 -61.4 190.7 113.0	2.0 0.56

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Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2225D And	124.0	10.0 0.87
YRC2225D And	148.0	4.0 0.65
YRC2225D And	162.0	2.0 0.88
YRC2226D 221,038.2 776,500.0	280.3 RCD 276 -61.6 198.2 4.0	4.0 1.04
YRC2226D And	56.0	3.0 1.02
YRC2226D And	62.0	3.0 3.15
YRC2226D And	133.0	2.0 1.77
YRC2226D And	151.0	5.0 35.22
YRC2227D 221,062.4 777,600.0	241.6 RCD 270 -60.4 315.1 13.0	8.0 4.54
YRC2227D Including	16.0	4.0 6.91
YRC2227D And	43.0	4.0 1.12
YRC2227D And	51.0	7.6 0.71
YRC2227D And	64.0	22.0 1.27
YRC2227D And	97.0	7.0 0.63
YRC2227D And	130.0	3.0 4.51
YRC2227D And	184.0	2.0 0.79
YRC2227D And	204.0	3.0 0.97
YRC2227D And	251.0	5.0 4.39
YRC2227D And	269.0	5.0 1.39
YRC2227D And	292.0	3.0 4.45
YRC2227D And	300.7	2.3 0.59
YRC2227D And	308.0	6.0 0.59
YRC2228D 221,070.0 777,549.8	237.8 RCD 268 -59.9 250.3 40.0	5.0 2.18
YRC2228D And	104.0	2.2 0.78
YRC2228D And	123.0	4.3 1.11
YRC2228D And	140.8	3.2 8.62
YRC2228D And	152.0	3.0 5.74
YRC2228D And	177.1	6.9 1.77
YRC2228D And	197.0	5.0 0.73
YRC2229D 221,077.1 777,649.6	242.1 RCD 270 -59.5 327.0 110.0	5.0 1.37
YRC2229D And	189.0	4.0 7.34
YRC2229D And	198.0	4.0 0.95
YRC2229D And	252.0	3.0 3.84
YRC2229D And	324.0	3.0 0.99
YRC2230D 220,906.9 777,598.7	236.4 RCD 267 -59.1 243.1 4.0	2.0 1.40
YRC2230D And	7.0	15.0 1.25
YRC2230D And	25.0	3.0 0.76
YRC2230D And	36.0	2.0 0.91
YRC2230D And	47.0	2.0 1.28
YRC2230D And	70.0	4.0 0.71

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==> picture [110 x 35] intentionally omitted <==

Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2230D And	114.0	4.3 1.36
YRC2230D And	219.0	3.0 1.16
YRC2231D 220,878.6 777,650.0	234.9 RCD 269 -60.4 222.2 63.6	3.4 1.54
YRC2232 220,843.0 777,699.9	235.7 RC 271 -59.5 142.0 91.0	2.0 2.05
YRC2232 And	96.0	2.0 2.06
YRC2232 And	124.0	6.0 1.13
YRC2233D 220,726.8 777,250.1	214.8 RCD 270 -59.6 210.7 20.0	4.0 1.79
YRC2233D And	33.0	5.0 0.89
YRC2233D And	59.0	2.0 1.41
YRC2233D And	81.6	2.4 1.15
YRC2234D 220,702.6 777,300.0	213.8 RCD 271 -60.7 270.3 21.0	3.0 1.76
YRC2234D And	93.0	9.0 1.01
YRC2234D And	106.0	2.0 1.19
YRC2234D And	111.0	6.0 2.79
YRC2234D And	121.0	22.0 1.59
YRC2234D And	161.0	3.0 2.14
YRC2234D And	167.0	4.0 3.50
YRC2235D 220,685.9 776,950.0	220.3 RCD 269 -59.4 180.7 18.0	2.0 2.55
YRC2235D And	156.2	5.3 6.05
YRC2235D And	170.3	2.7 1.47
YRC2236D 220,723.3 776,999.9	220.2 RCD 273 -60.2 220.2 24.0	3.0 0.85
YRC2236D And	96.0	3.0 1.51
YRC2236D And	113.0	6.0 1.09
YRC2236D And	123.0	2.0 4.28
YRC2236D And	152.0	6.0 1.11
YRC2236D And	204.0	5.2 1.94
YRC2237D 220,777.0 777,149.8	213.4 RCD 271 -59.9 261.5 17.0	3.0 1.35
YRC2237D And	27.0	9.0 1.71
YRC2237D And	67.0	4.0 1.96
YRC2237D And	149.0	3.0 0.55
YRC2237D And	155.0	4.0 0.56
YRC2237D And	196.7	3.3 0.76
YRC2237D And	203.0	2.0 1.45
YRC2237D And	223.0	4.0 0.74
YRC2237D And	234.0	2.0 1.39
YRC2237D And	245.0	2.1 4.34
YRC2238D 220,689.0 777,250.0	213.3 RCD 270 -60.6 186.4 5.0	3.0 3.06
YRC2238D And	74.0	2.0 1.07
YRC2238D And	91.0	4.0 0.68
YRC2238D And	160.0	5.0 1.54

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==> picture [110 x 35] intentionally omitted <==

Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2239D 220,675.8 777,226.9	213.0 RCD 269 -59.7 186.3 22.0	4.0 3.00
YRC2239D And	55.0	3.0 5.04
YRC2239D And	70.0	5.0 2.13
YRC2239D And	78.0	6.0 0.77
YRC2239D And	88.0	4.0 1.52
YRC2239D And	166.0	4.0 1.51
YRC2239D And	178.0	3.3 1.55
YRC2240D 220,612.0 777,400.0	213.6 RCD 270 -60.9 159.6 0.0	11.0 1.35
YRC2240D And	20.0	4.0 1.25
YRC2240D And	28.0	2.0 2.34
YRC2241D 220,776.4 777,049.9	214.0 RCD 268 -60.1 213.4 1.0	2.0 0.58
YRC2241D And	45.0	2.0 1.62
YRC2241D And	49.4	7.6 1.11
YRC2241D And	63.0	5.0 4.27
YRC2241D And	132.0	6.0 0.77
YRC2241D And	155.0	11.8 2.16
YRC2242D 220,959.4 776,700.0	266.8 RCD 272 -59.3 255.1 136.0	3.0 1.04
YRC2242D And	191.6	2.0 3.47
YRC2242D And	214.0	7.0 1.06
YRC2242D And	225.0	7.5 0.94
YRC2243D 220,962.2 776,650.0	270.4 RCD 270 -59.1 210.4 18.0	6.0 0.65
YRC2243D And	36.0	2.0 0.84
YRC2243D And	162.0	3.6 5.01
YRC2243D And	173.0	5.7 0.77
YRC2244 220,896.3 776,374.9	299.8 RC 269 -61.0 95.0	NSI
YRC2245 220,572.4 776,375.1	286.2 RC 272 -58.9 80.0 0.0	4.0 0.52
YRC2246 220,602.7 776,350.1	290.7 RC 271 -60.2 105.0 1.0	3.0 5.24
YRC2246 And	87.0	3.0 1.66
YRC2247D 220,515.7 776,874.9	252.5 RCD 270 -59.4 120.2 84.6	4.3 2.65
YRC2248D 220,882.2 777,199.8	213.8 RCD 270 -61.0 190.7 0.0	4.0 0.73
YRC2248D And	8.0	4.0 0.64
YRC2248D And	20.0	28.3 6.63
YRC2248D Including	24.0	8.0 12.2
YRC2248D Including	40.0	3.0 18.76
YRC2248D And	70.6	21.4 1.23
YRC2248D And	113.0	11.0 2.68
YRC2248D Including	120.3	2.7 5.64
YRC2248D And	137.0	4.0 1.25
YRC2248D And	152.0	2.0 1.23
YRC2248D And	160.0	4.0 1.37

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==> picture [110 x 35] intentionally omitted <==

Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2249D 220,873.9 777,249.8	215.1 RCD 267 -60.0 219.7 110.0	5.0 0.63
YRC2249D And	151.0	5.0 45.91
YRC2249D Including	151.0	3.0 75.55
YRC2249D And	188.0	2.0 1.01
YRC2250D 220,819.1 777,250.0	212.6 RCD 268 -58.3 216.7 33.0	6.0 1.23
YRC2250D And	46.0	3.0 0.80
YRC2250D And	63.7	5.1 0.63
YRC2250D And	77.9	4.1 2.02
YRC2250D And	92.2	4.9 22.41
YRC2250D And	112.0	2.0 20.85
YRC2250D And	163.0	8.0 2.51
YRC2250D And	207.0	8.0 1.00
YRC2251D 220,588.1 777,100.0	221.8 RCD 269 -59.3 159.3 32.0	3.0 3.31
YRC2251D And	41.0	2.0 2.08
YRC2252D 220,720.8 777,050.0	215.6 RCD 271 -60.5 160.3 42.0	4.0 0.52
YRC2252D And	131.0	4.0 1.05
YRC2253D 220,615.1 777,300.0	214.1 RCD 271 -60.8 150.6	NSI
YRC2254D 220,718.6 777,102.7	212.7 RCD 269 -60.2 174.3 0.0	2.0 6.83
YRC2254D And	15.0	3.0 0.91
YRC2254D And	34.0	2.0 1.77
YRC2254D And	80.0	6.0 0.90
YRC2254D And	90.0	2.0 0.91
YRC2254D And	136.0	2.0 0.98
YRC2254D And	143.0	5.0 1.04
YRC2254D And	165.0	6.0 1.06
YRC2255D 220,859.5 776,750.0	226.1 RCD 273 -73.6 99.4 84.0	3.0 0.58
YRC2256D 220,977.9 776,749.9	260.2 RCD 268 -59.9 192.1 175.0	4.0 0.75
YRC2256D And	186.0	3.0 1.41
YRC2257 220,543.6 776,900.0	250.7 RC 271 -59.3 115.0 100.0	2.0 3.14
YRC2258 220,596.6 776,324.7	289.8 RC 270 -60.5 75.0	NSI
YRC2259 220,450.1 776,849.9	254.9 RC 269 -56.1 110.0	NSI
YRC2260 220,444.9 776,900.0	253.0 RC 270 -60.3 90.0 20.0	12.0 1.33
YRC2260 220,444.9 776,900.0	253.0 RC 270 -60.3 90.0 35.0	2.0 2.59
YRC2261 220,551.5 776,850.0	253.4 RC 267 -61.2 117.0 9.0	2.0 2.30
YRC2261 And	18.0	2.0 1.22
YRC2261 And	35.0	4.0 0.82
YRC2261 And	90.0	4.0 1.81
YRC2261 And	108.0	9.0 0.64
YRC2262D 220,611.0 776,999.8	245.5 RCD 270 -65.9 180.5 127.0	2.7 2.07
YRC2262D And	138.0	2.0 0.72

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==> picture [110 x 35] intentionally omitted <==

Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2262D And	154.4	3.9 0.61
YRC2263D 220,882.0 777,000.0	220.5 RCD 271 -69.3 145.5 30.0	2.0 21.55
YRC2263D And	56.0	3.0 0.95
YRC2263D And	79.0	9.0 0.74
YRC2263D And	91.0	3.0 2.66
YRC2263D And	104.0	3.0 1.83
YRC2263D And	110.0	3.0 4.19
YRC2264D 220,886.5 776,949.9	224.4 RCD 270 -59.4 150.4 32.0	9.2 2.81
YRC2265D 220,820.0 777,000.0	217.0 RCD 273 -69.7 270.9 40.0	2.0 1.82
YRC2265D And	67.0	3.5 1.33
YRC2265D And	81.0	7.0 1.48
YRC2265D And	97.0	6.5 0.90
YRC2265D And	128.0	9.0 1.63
YRC2265D And	145.0	7.0 0.75
YRC2265D And	182.0	2.0 0.89
YRC2265D And	209.0	4.5 0.62
YRC2265D And	221.6	2.4 1.58
YRC2265D And	241.0	5.5 0.94
YRC2266D 220,805.7 777,050.1	214.9 RCD 269 -58.8 267.4 21.0	3.0 1.68
YRC2266D And	175.5	8.2 1.87
YRC2267D 220,640.5 776,975.9	230.2 RCD 271 -59.6 180.3 77.0	2.0 2.91
YRC2267D And	118.6	3.0 1.51
YRC2267D And	166.4	2.5 2.65
YRC2267D And	171.7	2.3 11.57
YRC2268D 220,659.0 776,999.8	230.1 RCD 267 -63.3 183.3 8.0	4.0 1.95
YRC2268D And	20.0	4.0 0.54
YRC2268D And	59.9	3.2 0.52
YRC2268D And	117.0	2.7 1.02
YRC2269D 220,614.6 777,058.0	226.6 RCD 269 -58.7 135.3 68.0	6.0 1.73
YRC2270D 220,656.3 777,049.9	225.2 RCD 270 -58.7 135.3 40.0	3.0 1.14
YRC2270D And	96.0	2.0 0.86
YRC2271D 220,630.0 777,163.0	210.1 RCD 270 -60.8 195.6 148.4	2.3 1.62
YRC2272D 220,777.6 777,335.3	216.6 RCD 268 -60.9 300.3 127.0	7.0 1.92
YRC2272D And	146.0	58.6 2.31
YRC2272D Including	188.0	5.0 8.45
YRC2272D And	226.0	12.0 1.40
YRC2272D And	241.0	7.1 3.04
YRC2272D Including	241.0	2.0 7.88
YRC2272D And	268.6	2.0 3.57
YRC2273D 220,731.3 777,160.2	217.2 RCD 269 -60.6 235.4 12.0	3.0 1.11

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==> picture [110 x 35] intentionally omitted <==

Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2273D And	66.0	6.0 1.79
YRC2273D And	159.3	3.8 2.55
YRC2273D And	172.0	3.0 0.94
YRC2273D And	180.8	11.2 1.69
YRC2273D And	197.0	2.0 0.95
YRC2273D And	203.0	2.0 0.80
YRC2273D And	207.1	3.6 0.64
YRC2273D And	217.0	4.0 1.14
YRC2274 220,880.7 776,900.0	226.3 RC 270 -69.2 85.0 19.0	7.0 0.69
YRC2275 220,774.8 776,700.7	230.4 RC 270 -59.7 80.0	NSI
YRC2276D 221,014.7 777,501.0	240.0 RCD 269 -60.8 231.1 76.8	4.0 1.30
YRC2276D And	116.1	2.8 2.28
YRC2276D And	151.5	6.5 2.85
YRC2277D 221,032.5 777,649.9	240.7 RCD 268 -58.0 270.1 97.0	8.9 1.71
YRC2277D And	113.8	2.2 0.98
YRC2277D And	126.0	6.0 0.79
YRC2277D And	165.7	5.4 2.71
YRC2277D And	197.0	3.4 0.80
YRC2277D And	209.0	4.2 4.68
YRC2277D And	220.0	2.0 0.93
YRC2277D And	225.5	6.6 0.91
YRC2278 220,669.3 777,399.9	211.0 RC 268 -61.4 163.0 29.0	5.0 0.88
YRC2278 And	40.0	4.0 2.21
YRC2278 And	70.0	5.0 2.68
YRC2278 And	84.0	6.0 1.44
YRC2278 And	128.0	4.0 0.57
YRC2279 220,578.0 776,449.8	279.1 RC 268 -58.7 100.0	NSI
YRC2280 220,586.3 776,400.0	283.5 RC 270 -61.1 110.0 37.0	2.0 2.23
YRC2281 220,590.6 776,299.8	289.8 RC 269 -58.4 55.0	NSI
YRC2282 220,550.0 777,324.9	232.7 RC 270 -58.7 120.0	NSI
YRC2283D 220,575.3 776,950.0	247.8 RCD 278 -75.8 145.7 98.0	2.0 0.81
YRC2283D And	115.0	6.0 2.47
YRC2284D 220,974.4 776,901.1	249.7 RCD 278 -78.4 143.6	NSI
YRC2285D 220,657.9 777,219.4	210.6 RCD 267 -55.2 180.1 169.7	5.6 3.06
YRC2286D 220,838.3 777,296.2	225.1 RCD 269 -67.0 222.7 17.0	3.0 2.45
YRC2286D And	82.0	3.0 5.16
YRC2286D And	88.1	2.9 4.61
YRC2286D And	111.0	2.0 15.26
YRC2286D And	125.0	5.0 22.67
YRC2286D Including	126.0	3.0 36.51

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==> picture [110 x 35] intentionally omitted <==

Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2287D 220,879.6 777,225.2	213.9 RCD 269 -49.2 217.6 8.0	3.0 4.39
YRC2287D And	18.0	2.0 1.66
YRC2287D And	32.0	3.0 1.18
YRC2287D And	65.0	2.0 1.76
YRC2287D And	172.0	2.0 8.96
YRC2287D And	191.0	10.0 2.19
YRC2288D 221,010.8 777,525.3	239.8 RCD 271 -57.3 267.2 56.0	4.9 0.95
YRC2288D And	84.0	4.0 0.81
YRC2288D And	97.0	8.2 1.20
YRC2288D And	238.0	3.0 4.79
YRC2289D 221,000.1 777,474.8	246.2 RCD 267 -56.9 213.1 0.0	8.0 0.71
YRC2289D And	16.0	4.0 1.26
YRC2289D And	24.0	4.0 1.27
YRC2289D And	54.1	12.1 6.49
YRC2289D Including	59.0	3.6 18.81
YRC2289D And	118.0	8.0 1.77
YRC2289D And	133.0	2.0 1.13
YRC2289D And	157.0	3.0 8.08
YRC2290D 220,999.7 777,450.1	247.1 RCD 270 -55.0 180.1 77.7	6.4 0.70
YRC2291D 221,006.9 777,450.2	247.1 RCD 269 -65.8 183.1 84.0	11.0 0.95
YRC2292D 220,902.8 777,650.9	235.6 RCD 272 -69.7 207.4 67.7	10.5 11.78
YRC2292D Including	74.0	3.3 34.54
YRC2292D And	108.0	9.0 2.84
YRC2293D 220,920.0 777,624.5	236.2 RCD 271 -74.8 219.6 45.0	4.0 1.54
YRC2293D And	53.0	3.0 0.50
YRC2293D And	109.0	10.0 3.49
YRC2293D Including	114.1	5.0 5.8
YRC2293D And	154.0	2.0 0.71
YRC2293D And	169.0	15.0 1.48
YRC2293D And	209.0	5.0 1.05
YRC2294 220,778.3 777,750.8	229.2 RC 274 -76.2 100.0	NSI
YRC2295 220,656.4 777,249.9	209.8 RC 269 -50.5 146.0 125.0	14.0 2.27
YRC2295 Including	136.0	2.0 8.54
YRC2296 220,969.8 776,800.1	251.5 RC 271 -75.5 128.0 54.0	8.0 0.71
YRC2297 220,954.2 776,850.1	249.3 RC 272 -59.6 115.0 74.0	5.0 4.63
YRC2297 Including	74.0	2.0 10.97
YRC2298 220,871.4 776,350.0	306.7 RC 271 -61.1 100.0	NSI
YRC2299 220,923.7 776,350.1	306.1 RC 268 -60.9 100.0	NSI
YRC2300 220,846.1 776,700.5	228.2 RC 273 -74.9 116.0 44.0	5.0 1.22
YRC2300 And	52.0	10.0 12.36

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==> picture [110 x 35] intentionally omitted <==

Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2300 Including	55.0	2.0 59.02
YRC2300 And	93.0	9.0 3.66
YRC2301 220,802.2 776,659.8	231.1 RC 270 -49.8 104.0 0.0	5.0 1.62
YRC2301 And	33.0	2.0 0.70
YRC2302 220,842.9 776,300.4	324.2 RC 266 -59.0 95.0 0.0	8.0 1.11
YRC2303 220,788.8 776,299.8	317.9 RC 268 -59.0 90.0 65.0	4.0 1.81
YRC2304 220,858.1 776,302.1	323.9 RC 273 -83.4 87.0 1.0	7.0 1.26
YRC2305 220,922.8 776,325.0	313.9 RC 271 -61.2 110.0	NSI
YRC2306 220,850.6 776,325.7	317.0 RC 269 -60.2 110.0	NSI
YRC2307 220,915.0 776,650.6	271.2 RC 269 -49.8 160.0 53.0	3.0 1.97
YRC2307 And	118.0	11.0 1.34
YRC2307 And	134.0	9.0 3.18
YRC2308 220,588.3 776,424.9	281.9 RC 269 -59.7 80.0	NSI
YRC2309D 220,529.9 777,100.1	242.6 RCD 272 -75.6 120.6 4.0	4.0 0.60
YRC2309D And	36.0	4.0 76.83
YRC2310D 220,839.8 777,296.2	225.2 RCD 288 -59.4 261.7 16.0	4.0 1.56
YRC2310D And	28.0	4.0 0.69
YRC2310D And	105.0	3.0 0.51
YRC2310D And	111.0	5.0 2.27
YRC2310D And	191.0	2.0 1.75
YRC2310D And	230.0	2.0 1.23
YRC2310D And	244.0	2.0 1.17
YRC2310D And	255.0	6.7 1.73
YRC2311D 220,931.4 777,550.0	238.2 RCD 268 -59.9 230.4 0.0	4.0 1.64
YRC2311D And	82.0	2.0 1.04
YRC2311D And	94.0	3.0 0.85
YRC2311D And	128.0	5.5 2.27
YRC2312D 220,754.9 777,114.0	214.3 RCD 272 -58.9 252.7 51.1	3.9 0.67
YRC2312D And	75.0	7.0 0.57
YRC2312D And	94.0	3.0 2.29
YRC2312D And	100.4	4.7 1.34
YRC2312D And	109.0	2.0 0.72
YRC2312D And	132.9	3.1 1.70
YRC2312D And	147.0	6.0 0.96
YRC2312D And	158.0	3.0 23.18
YRC2312D And	221.0	3.0 0.65
YRC2312D And	228.0	5.5 1.34
YRC2312D And	241.0	7.0 2.31
YRC2313D 220,780.4 777,335.2	216.7 RCD 292 -68.4 220.7 116.0	2.0 1.34
YRC2313D And	123.0	3.0 1.32

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==> picture [110 x 35] intentionally omitted <==

Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2313D And	153.0	6.0 2.46
YRC2313D And	163.0	9.6 0.65
YRC2313D And	191.0	7.2 1.22
YRC2313D And	206.0	5.0 0.59
YRC2314D 220,742.5 777,375.1	211.8 RCD 270 -72.0 317.8 32.0	11.0 2.03
YRC2314D And	53.0	4.1 1.15
YRC2314D And	70.0	2.0 0.70
YRC2314D And	115.0	12.0 0.75
YRC2314D And	134.0	4.0 1.58
YRC2314D And	168.0	2.0 1.02
YRC2314D And	176.0	3.7 1.38
YRC2314D And	183.0	3.0 0.53
YRC2314D And	191.0	7.0 6.83
YRC2314D And	210.0	4.0 0.69
YRC2314D And	236.0	5.0 0.60
YRC2314D And	248.0	4.0 0.79
YRC2314D And	271.0	3.3 4.66
YRC2315D 220,704.2 777,400.0	209.7 RCD 295 -58.9 340.3 4.0	8.0 0.56
YRC2315D And	24.0	4.0 2.16
YRC2315D And	32.0	4.0 0.51
YRC2315D And	94.7	2.4 1.22
YRC2315D And	109.2	5.8 0.54
YRC2315D And	121.0	14.5 0.93
YRC2315D And	138.0	25.2 1.24
YRC2315D And	181.0	5.0 0.52
YRC2315D And	189.0	2.6 1.16
YRC2315D And	230.0	3.4 1.20
YRC2315D And	242.7	2.3 4.91
YRC2316D 220,659.0 777,474.5	206.9 RCD 285 -61.3 333.4 8.0	4.0 0.76
YRC2316D And	92.0	3.0 3.48
YRC2316D And	234.9	2.3 1.20
YRC2317D 220,664.0 777,449.7	207.0 RCD 268 -61.0 243.4 12.0	4.0 1.03
YRC2317D And	24.0	8.0 0.85
YRC2317D And	36.0	9.0 0.85
YRC2317D And	50.0	7.0 0.83
YRC2317D And	75.6	2.5 3.04
YRC2317D And	115.5	3.6 1.89
YRC2317D And	156.9	3.1 0.72
YRC2317D And	199.0	5.6 1.44
YRC2318D 220,900.5 777,575.0	236.4 RCD 258 -51.6 250.3 4.0	4.0 0.64

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Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2318D And	119.9	6.1 2.08
YRC2318D And	143.0	4.0 1.13
YRC2318D And	225.0	8.9 0.69
YRC2319D 220,898.5 777,566.5	236.6 RCD 272 -60.2 260.3 0.0	8.0 1.51
YRC2319D And	106.0	5.4 2.34
YRC2319D And	116.0	13.6 3.22
YRC2319D And	214.0	4.0 0.57
YRC2319D And	231.0	4.0 0.86
YRC2319D And	239.4	2.7 0.64
YRC2320D 220,994.8 776,969.2	250.0 RCD 267 -58.0 240.2 4.0	4.0 0.50
YRC2320D And	20.0	16.0 1.26
YRC2320D And	54.6	3.5 0.98
YRC2320D And	63.0	3.7 0.67
YRC2320D And	72.0	5.0 1.56
YRC2320D And	83.0	7.0 2.60
YRC2320D And	101.0	6.0 3.14
YRC2320D And	187.0	4.0 5.83
YRC2320D Including	187.8	2.2 9.50
YRC2320D And	196.0	3.0 1.03
YRC2320D And	204.0	7.0 1.14
YRC2320D And	216.0	4.0 1.09
YRC2321D 220,973.8 776,908.2	249.2 RCD 268 -69.5 155.4 88.0	3.0 1.76
YRC2321D And	105.0	3.0 2.12
YRC2322 220,753.1 776,618.3	250.2 RC 268 -59.5 78.0	NSI
YRC2323 220,806.6 776,612.9	250.3 RC 267 -60.7 150.0 0.0	2.0 0.66
YRC2323 And	136.0	4.0 4.41
YRC2324 220,730.3 777,699.9	208.8 RC 94 -84.3 90.0 11.0	2.0 3.08
YRC2324 And	66.0	3.0 0.85
YRC2325 220,716.9 777,700.0	208.0 RC 273 -59.9 86.0	NSI
YRC2326 220,701.8 777,749.8	216.0 RC 267 -63.3 72.0 44.0	2.0 2.50
YRC2327 220,678.7 777,760.9	217.1 RC 269 -50.6 74.0	NSI
YRC2328 220,923.3 776,849.6	242.4 RC 268 -49.7 156.0 9.0	4.0 16.51
YRC2328 And	40.0	2.0 1.73
YRC2328 And	53.0	5.0 7.79
YRC2328 And	73.0	4.0 0.73
YRC2328 And	95.0	2.0 2.53
YRC2328 And	111.0	7.0 1.10
YRC2328 And	137.0	14.0 0.52
YRC2329 220,955.9 776,476.2	282.7 RC 286 -58.9 170.0 3.0	5.0 0.74
YRC2329 And	17.0	2.0 5.59

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Hole ID	Elevation (WGS Z30N)	Width (m)
YRC2329 And	22.0	2.0 1.54
YRC2329 And	28.0	15.0 8.15
YRC2329 Including	37.0	4.0 28.9
YRC2329 And	55.0	7.0 6.75
YRC2329 Including	55.0	2.0 21.63
YRC2329 And	140.0	2.0 1.51
YRC2330 220,823.4 776,357.4	314.0 RC 267 -60.9 110.0 107.0	2.0 2.42
YRC2331 220,585.4 776,850.1	251.8 RC 269 -71.6 98.0 66.0	6.0 1.47
YRC2331 And	83.0	2.0 1.31
YRC2332 220,518.9 777,350.1	230.8 RC 271 -59.6 105.0	NSI
YRC2333 220,569.4 777,400.9	229.4 RC 270 -67.9 142.0 10.0	2.0 2.10
YRC2334 220,618.2 777,358.2	217.1 RC 287 -60.5 151.0 8.0	2.0 2.01
YRC2334 And	36.0	10.0 0.87
YRC2334 And	68.0	2.0 1.26
YRC2334 And	149.0	2.0 1.57
YRC2335 220,815.3 777,722.0	233.9 RC 271 -69.3 84.0 1.0	2.0 1.14
YRC2335 And	7.0	2.0 1.22
YRC2336 220,862.4 777,769.9	233.3 RC 269 -49.0 125.0 106.0	2.0 0.58
YRC2337 220,867.0 777,769.8	233.4 RC 271 -75.2 114.0	NSI
YRC2338 220,948.4 777,761.3	242.2 RC 272 -80.4 120.0 38.0	2.0 0.77
YRC2339D 220,988.0 776,550.0	278.3 RCD 270 -59.0 150.2 8.0	4.0 0.56
YRC2340D 220,978.5 776,748.5	260.4 RCD 270 -76.5 195.1 12.0	4.0 0.71
YRC2341D 221,000.2 776,969.5	250.2 RCD 272 -74.8 168.5	NSI
YRC2342D 220,780.3 777,150.0	213.1 RCD 275 -74.4 175.5 28.0	21.5 0.81
YRC2342D And	103.0	3.7 2.24
YRC2342D And	110.0	7.1 1.45
YRC2342D And	144.0	2.0 2.18

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APPENDIX 3 – JORC TABLE 1

JORC 2012 Table 1 – Section 1 sampling techniques and data

(Criteria in this section apply to all succeeding sections)

Criteria	JORC Code Explanation	Commentary
*Sampling*	Nature and quality of sampling (e.g. cut	Yaouré Open Pit Mineral Resource estimate:
*techniques*	channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad	The Yaouré Open Pit Mineral Resource estimate is informed by 713 RC and 344 diamond (including RC pre-collars) core holes drilled by Amara Mining plc between 2012 and 2015 and by 773 RC and 129 diamond (including RC pre- collars) core holes drilled by Perseus Mining from 2017 onward. The resource estimate is informed by a total of 1,959 drill holes for a total of 190,041.30 metres.
	meaning of sampling.	Diamond core drill holes account for approximately 50% of the deposit
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	samples informing the geological and grade information for the resource estimate. Diamond core is routinely sampled to geological contacts or at nominal 1 metre intervals from ½ core over the entire length of the drill hole producing samples with approximate weights between 3-4 kg that was pulverised to produce a 50 g charge for fire assay.
	Aspects of the determination of mineralisation that are Material to the	RC samples are collected at 1m intervals via a cyclone and splitter system and
	Public Report. In cases where ‘industry standard’ work has been done this would	logged geologically. A 136mm RC hammer bit was used allowing a 3-4 kg sample to be collected that was pulverised to produce a 50 g charge for fire
	be relatively simple (e.g. ‘reverse	assay.
	circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to	CMA Underground Mineral Resource estimate:
	produce a 30 g charge for fire assay’). In	The CMA Underground Mineral Resource estimate is informed by intercepts in
	other cases more explanation may be	21 RC and 66 diamond core holes drilled by Amara Mining plc between 2012
	required, such as where there is coarse	and 2015 and in 388 diamond core holes drilled by Perseus Mining from 2017
	gold that has inherent sampling problems.	onward (as defined by drill holes intersecting the principal CMA lode below the
	Unusual commodities or mineralisation	CMA pit design). The resource estimate is informed by a total of 475 drill holes
	types (e.g. submarine nodules) may	for a total of 166,553.26 metres.
	warrant disclosure of detailed information.
		Diamond core drill holes are the primary source of geological and grade
		information for the resource estimate accounting for 97% of the total metres
		drilled. Diamond core is routinely sampled to geological contacts or at nominal
		1 metre intervals from ½ core selectively sampled to cover observed
		mineralisation intervals producing samples with approximate weights
		between 3-4 kg that was pulverised to produce a 50 g charge for fire assay.
		RC samples are collected at 1m intervals via a cyclone and splitter system and
		logged geologically. A 136 mm RC hammer bit was used allowing a 3-4 kg
		sample to be collected that was pulverised to produce a 50 g charge for fire
		assay.
*Drilling*	Drill type (e.g. core, reverse circulation,	RC drilling used face-sampling hammers with 136 mm hole diameter. Samples
*techniques*	open-hole hammer, rotary air blast, auger,	were collected at one metre intervals and logged visually for recovery, sample
	Bangka, sonic, etc.) and details (e.g. core	condition (dry, damp, wet) and contamination. Sample recoveries were
	diameter, triple or standard tube, depth of	measured by weighing bulk recovered samples. RC samples from pre-collars
	diamond tails, face-sampling bit or other	where mineralisation was not expected were normally composited to 4 m
	type, whether core is oriented and if so, by	intervals for assaying.
	what method, etc.).	Diamond drilling utilised HQ triple-tube (61.1 mm Ø) drilling in weathered
		materials and NQ2 (50.6 mm Ø) or NQ (47.6 mm Ø) core in fresh rock. Core in
		fresh rock was oriented using a MAGSHOT II (Wellforce) and an ORISHOT II
		(Reflex) device.
*Drill sample*	Method of recording and assessing core	RC drill samples were logged visually for sample condition (dry, damp, wet) and
*recovery*	and chip sample recoveries and results	contamination. Sample recoveries were measured by weighing bulk recovered
	assessed.	samples. Preliminary evaluation indicates that RC sample recoveries have
	Measures taken to maximise sample	been satisfactory. There were no wet samples logged in the CMA UG RC pre- collar holes.
	recovery and ensure representative nature
	of the samples.	Diamond core recoveries were measured linearly per drill run. Core recoveries
	Whether a relationship exists between	average approximately 85% in weathered materials and 100% in fresh rock.
	sample recovery and grade and whether	There is no evident relationship between sample recovery and gold grade in
	sample bias may have occurred due to	either RC or core samples.
	preferential loss/gain of fine/coarse
	material.

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Criteria	JORC Code Explanation	Commentary
*Logging*	Whether core and chip samples have been	Geological logs are available for the entire lengths of all drill holes. The logging
	geologically and geotechnically logged to	is qualitative in nature.
	a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	Sieved samples of RC chips from each metre of drilling were logged for colour, rock type, alteration type and intensity, vein quartz content, sulphide mineralisation, weathering and oxidation. The chips are stored in plastic chip
	Whether logging is qualitative or	trays and the trays photographed.
	quantitative in nature. Core (or costean, channel, etc.) photography.	Diamond drill core was logged for geology, structure and geotechnical characteristics. Geological logging included colour, lithology, weathering,
	The total length and percentage of the	oxidation, vein type and vein volume percentage, sulphide species and their
	relevant intersections logged.	estimated percentage, alteration and alteration intensity. Structural logging
		included fault, fold, cleavage and joint orientation, lithological contacts and
		vein orientations. Drill core was photographed prior to cutting.
*Sub-sampling*	If core, whether cut or sawn and whether	RC drill samples were collected over one metre intervals and manually split
*techniques*	quarter, half or all core taken.	using multi-stage riffle splitters to produce assay sub-samples averaging
*and sample* *preparation*	If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.	around 3 kg. All RC holes have been assayed in entirety. RC samples from pre- collars where mineralisation was not expected were normally composited to 4 m intervals for assaying.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	In weathered materials, diamond core was halved using spatulas or knives. In fresh rock, core was sawn in half using a diamond blade saw, with one half sent for assaying and the other half stored in core trays for reference. Samples were normally taken at 1 metre intervals or shorter lengths to reflect sampling to
	Quality control procedures adopted for all	geological contacts. For CMA underground resource definition holes, only core
	sub-sampling stages to maximise	intervals with visible alteration and mineralisation plus approximately 10 m
	representivity of samples.	up- and down-hole were sampled. For Yaouré resource definition and other
		exploration drill holes, all diamond drill core has been assayed over the entire
	Measures taken to ensure that the	length of the drill hole.
	sampling is representative of the in-situ
	material collected, including for instance	Most sample preparation has been undertaken at Perseus’s Yaouré sample
	results for field duplicate/second-half	preparation facility operated and supervised by Perseus personnel.
	sampling.	Commercial laboratories have also been utilised as necessary including ALS
		(Yamoussoukro), Bureau Veritas (Abidjan), Intertek (Tarkwa) and MSALAB
	Whether sample sizes are appropriate to	(Yamoussoukro).
	the grain size of the material being
	sampled.	Preparation of core and RC samples followed a standard path of drying at
		105 degrees C for at least 12 hours, crushing the entire sample to 85% passing
		-2mm and grinding a 1.5kg split to 85% passing 75 microns. 300g pulp
		subsamples were selected by multiple scoop passes.
		Quality control measures adopted to confirm the representivity of samples
		prepared at the Yaouré facility from RC and diamond drilling included:
		• Field re-splits of RC samples at an average frequency of around one
		duplicate per 20 primary samples respectively.
		• Submission of coarse blanks at an average of around 1 blank per 20
		primary samples
		• Use of quartz wash between every sample in crushing and pulverising
		equipment
		• Screening of approximately 1:20 pulp samples to check grind size
		Commercial laboratories employed similar, industry standard measures.
		Sample preparation techniques are considered appropriate to the style of
		mineralisation. Available information indicates that sample sizes are
		appropriate to the grain size of the material being sampled.
*Quality of*	The nature, quality and appropriateness of	All RC and diamond core samples up to 2023 have been assayed by 50g fire
*assay data*	the assaying and laboratory procedures	assay with AAS finish by commercial laboratories including Actlab
*and*	used and whether the technique is	(Ouagadougou), ALS (Ouagadougou), Bureau Veritas (Abidjan), Intertek
*laboratory*	considered partial or total.	(Tarkwa), MSALAB (Yamoussoukro) and SGS (Tarkwa). The fire assay technique
*tests*	For geophysical tools, spectrometers, handheld XRF instruments, etc., the	is considered a total extraction technique and deemed appropriate for the style of mineralisation at the Yaouré and CMA deposits.
	parameters used in determining the	Starting in February 2023 gold analyses have preferentially been attained via
	analysis including instrument make and	the Chrysos PhotonAssay™ determination method at MSALABs in
	model, reading times, calibrations factors	Yamoussoukro. This technique is deemed appropriate for the style of
	applied and their derivation, etc.	mineralisation at the Yaouré and CMA deposits.
	Nature of quality control procedures	Quality control procedures include submission of coarse blanks (1:20) and
	adopted (e.g. standards, blanks,	certified reference standards (1:20). QAQC results are reviewed on a batch-
	duplicates, external laboratory checks) and	by-batch basis. Analysis ofqualitycontrol sample assays indicate the accuracy

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Criteria	JORC Code Explanation	Commentary
	whether acceptable levels of accuracy (i.e.	and precision is generally within acceptable limits and suitable for inclusion in
	lack of bias) and precision have been	the open pit and underground resource estimate.
	established.	The available information indicates that the assaying of RC and core samples is
		free from any significant biases and is of acceptable accuracy.
*Verification*	The verification of significant intersections	Numerous significant mineralised intersections have been checked against
*of sampling*	by either independent or alternative	visual alteration and sulphide mineralisation in drill chips and core.
*and assaying*	company personnel.	None of the holes in the report to which this table relates have been
	The use of twinned holes.	deliberately twinned.
	Documentation of primary data, data	Geology, structure and geotechnical logs are paper based. Sample intervals
	entry procedures, data verification, data	are recorded in pre-numbered sample ticket books. All logging, sample
	storage (physical and electronic) protocols.	interval and survey data are manually entered to digital form on site and stored
	Discuss any adjustment to assay data.	in an acQuire™ relational database. Data exports are normally in the form of csv files or via ODBC connections to tailored SQL views.
		Data verification procedures include automated checks to:
		• prevent repetition of sample numbers
		• prevent overlap of from-to intervals in logging and sample interval data
		• ensure that total hole depths in collar, assay and geology tables match
		• ensure that drill collar coordinates are within the project’s geographic
		limits
		Down-hole survey data are examined for large deviations in dip or azimuth that
		may represent erroneous data or data entry errors and corrected on a case-
		by-case basis including estimates of dips and azimuths where the original data
		appear to be in error.
		Additional data checks include viewing drill hole traces, geological logging and
		assays in plan and section views.
*Location of*	Accuracy and quality of surveys used to	Drill hole collars have been surveyed by qualified mine surveyors using
*data points*	locate drill holes (collar and down-hole	differential GPS equipment with coordinates recorded in UTM grid, WGS84
	surveys), trenches, mine workings and	Zone 30N datum.
	other locations used in Mineral Resource
	estimation.	All RC and diamond core holes have been surveyed at 12m depth and at
		approximately 30m down-hole increments using digital compass instruments.
	Specification of the grid system used.	A topographic surface has been established by a LiDAR survey conducted in
	Quality and adequacy of topographic	2017. The topographic surface is reliable to +/- 0.2m.
	control.
		Yaouré mine elevation is calculated by adding 1,000 metres to the natural
		topographic datum.
		Topographic control is adequate for the current work being undertaken at
		Yaouré.
*Data spacing*	Data spacing for reporting of Exploration	Yaouré open pit Mineral Resource estimate:
*and*	Results.
*distribution*		The Yaouré deposit is delineated by regular spaced drilling on an approximate
	Whether the data spacing and distribution	25 x 25 metre grid to a depth of between 200 and 250 metres below natural
	is sufficient to establish the degree of	surface between 777,000 mN and 777,750 mN; and between 100 to 150
	geological and grade continuity	metres below natural surface between 776,500 mN and 777,000 mN. This
	appropriate for the Mineral Resource and	drill spacing is considered sufficient to define Indicated Mineral Resources.
	Ore Reserve estimation procedure(s) and	Partial coverage is achieved at an approximate 50 x 50 metre spacing to
	classifications applied.	approximately 300 and 350 metres below natural surface between 777,000
	Whether sample compositing has been applied.	mN and 777,750 mN; and between 150 to 250 metres below natural surface between 776,500 mN and 777,000 mN. This drill spacing is considered sufficient to define Inferred Mineral Resources.
		Sample intervals were composited to 1m intervals prior to resource
		estimation, with residual intervals down to 0.3m and up to 1.3m permitted.

CMA Underground Mineral Resource estimate:

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Criteria	JORC Code Explanation	Commentary
		the base of the CMA open pit which is considered sufficient to define Inferred
		Mineral Resources.
		Sample intervals were composited to 1m intervals prior to resource
		estimation, with residual intervals down to 0.3m and up to 1.3m permitted.
*Orientation*	Whether the orientation of sampling	Yaouré Open Pit Mineral Resource estimate:
*of data in* *relation to*	achieves unbiased sampling of possible structures and the extent to which this is	Holes have generally been drilled dipping at -55 to -75 degrees toward 270
*geological* *structure*	known, considering the deposit type.	degrees (UTM grid) azimuth, approximately orthogonal to the dip and strike of the reverse fault structures and drill intercept lengths closely approximate
	If the relationship between the drilling	true widths of mineralisation for the reverse fault structures. Intercepts are
	orientation and the orientation of key	typically oblique for the general east-west strike-slip fault structures with
	mineralised structures is considered to	true widths approximately 65% of the intercept length. The 2023 drilling has
	have introduced a sampling bias, this	been preferentially orientated where possible to intersect these structures at
	should be assessed and reported if	a more orthogonal angle.
	material.
		CMA Underground Mineral Resource estimate:
		Holes have generally been drilled dipping at -55 to -75 degrees toward 270
		degrees (UTM grid) azimuth, approximately orthogonal to the dip and strike of
		the principal CMA lode, with drill intercept lengths closely approximate to true
		widths of mineralisation. In the CMA northwest lode, drill holes prior to 2023
		are mostly oblique to the lode and the effective along-strike drill spacing is 40
		to 50m and mineralisation true width is approximately 65% of intercept length.
*Sample*	The measures taken to ensure sample	RC and core samples were delivered to the secure core yard compound at the
*security*	security.	Yaouré Gold Mine by Perseus personnel. RC field sample splits and samples of
		half diamond core were placed in numbered bags and those bags, in turn,
		placed into polywoven sacks that were closed with plastic cable ties prior to
		transport to the Yaouré sample preparation facility by Perseus personnel.
		Security guards were employed at drilling sites, the core yard compound and
		the sample preparation facility on a 24 hour per day basis.
		Results of field duplicates along with the general consistency of assay results
		between neighbouring drill holes and drilling methods provide confidence in
		the general reliability of the assay data.
*Audits or*	The results of any audits or reviews of	The Yaouré sample preparation facility has previously been subject to formal
*reviews*	sampling techniques and data.	audit, the last being in 2017. Standard operating procedures have not changed
		materially since that audit. Sampling and assaying techniques are industry
		standard.
		Data reviews have included comparisons between various sampling phases
		and methods which provide confidence in the general reliability of the data.
		Yaouré drill hole data have been subject to several independent reviews
		including:
		• Data verification pursuant to the estimation and reporting of
		Mineral Resources in the NI43-101 Technical Report titled
		“Technical Report and Mineral Resource Estimates for Amara
		Mining PLC” with effective date 22 January 2014
		• Data verification pursuant to the estimation and reporting of
		Mineral Resources in the NI43-101 Technical Report titled
		“Technical Report and Mineral Resource Estimates for Amara
		Mining Côte d’Ivoire SARL” with effective date 20 December 2015
		• Data verification pursuant to the estimation and reporting of Mineral
		Resources and Mineral Reserves in the NI43-101 Technical Report
		titled “Perseus Mining Limited – Technical Report, Yaouré Gold
		Project, Côte d’Ivoire” with effective date 3 November 2017

The Competent Person considers that the sample preparation, security and analytical procedures adopted for the Yaouré and CMA resource drilling provide an adequate basis for estimation of Mineral Resources.

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JORC 2012 Table 1 – Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section)

Criteria JORC Code explanation	Commentary
*Mineral* *tenement and* *land tenure* *status* Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The Yaouré open pit and CMA underground Mineral Resources are located within the Yaouré exploitation permit (PE50). The permit has an expiry date of 23 April 2030. The permit is held by Perseus’s subsidiary Perseus Mining Yaouré SA in which the government of Côte d’Ivoire holds 10% free carried interest. Additionally, the Government of Côte d’Ivoire is entitled to a royalty on nett revenue (revenue minus transport and refining costs) as follows:
	Spot price per ounce - London PM Fix Royalty Rate
	Less than or equal to US$1,000 3%
	Higher than US$1,000 and less than or equal to US$1,300 3.5%
	Higher than US$1,300 and less than or equal to US$1,600 4%
	Higher than US$1,600 and less than or equal to US$2,000 5%
	Higher than US$2,000 6%
	A further 0.5% of nett revenue is required to be paid to a local community development fund. The reported exploration areas have no known exploration-specific environmental liabilities.
*Exploration* *done by other* *parties* Acknowledgment and appraisal of exploration by other parties.	Exploration geochemical sampling, trenching and exploration and resource definition drilling have previously been carried out by BRGM, Cluff Gold plc and Amara Mining plc. Drill hole data deriving from work by Cluff and Amara are considered reliable.
*Geology* Deposit type, geological setting and style of mineralisation.	Yaouré may be described as orogenic lode-style gold mineralisation. The Yaouré project comprises several neighbouring gold deposits, including Yaouré and CMA, that occur near the south-eastern flank of the Bouaflé greenstone belt in central Côte d’Ivoire. Mineralisation is hosted by Paleoproterozoic aged metabasalts and felsic intrusive rocks of the Birimian Supergroup. The rocks are metamorphosed to lower greenschist facies and only locally feature penetrative deformation fabrics. In the Yaouré deposits, gold is associated with disseminated pyrite. At CMA deposit, mineralisation is associated with quartz-albite-carbonate veining in reverse fault structures that dip at 25 to 35 degrees to the east and northeast. Yaouré deposit comprises several mineralisation styles controlled by east- dipping structures, similar to CMA, in addition to mineralisation associated with quartz-tourmaline-chlorite-carbonate veining controlled by NE and NW striking, sub-vertical faults and also stockwork quartz veins with associated alteration selvages hosted by a granodiorite intrusive body. The combined deposits extend over an area around 1.4 km east-west by 2.1 km north-south.
*Drill hole* *Information* A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Yaouré is an active mine and advanced exploration project. A table of drill hole and intercept details is included in the report to which this table relates.

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Criteria	JORC Code explanation	Commentary
*Data*	In reporting Exploration Results, weighting	The cut-off grade, minimum down-hole length and maximum included
*aggregation*	averaging techniques, maximum and/or	internal waste are clearly stated in the report to which this table relates.
*methods*	minimum grade truncations (e.g. cutting of	Higher-grade “included” intercepts are clearly reported.
	high grades) and cut-off grades are usually
	Material and should be stated.	Drill hole intercepts have not been reported as metal equivalents.
	Where aggregate intercepts incorporate
	short lengths of high-grade results and
	longer lengths of low-grade results, the
	procedure used for such aggregation
	should be stated and some typical
	examples of such aggregations should be
	shown in detail.
	The assumptions used for any reporting of
	metal equivalent values should be clearly
	stated.
*Relationship*	These relationships are particularly	Yaouré Open Pit Mineral Resource estimate:
*between* *mineralization*	important in the reporting of Exploration Results.	The geometry of the Yaouré deposit lodes include CMA analogous reverse
*widths and* *intercept* *lengths*	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole	fault structures which the dominant drilling orientation is designed to nominally intersect at an orthogonal orientation of the mineralisation and closely approximate true widths, except for the sub-vertical strike-slip fault structures where drill holes are generally oblique to the lode.
	lengths are reported, there should be a	CMA Underground Mineral Resource estimate:
	clear statement to this effect (e.g. ‘down
	hole length, true width not known’).	The geometry of the CMA Lode has been clearly demonstrated by previous
		drilling. The lengths of drill intercepts of that structure in the report to which
		this table relates closely approximate true widths except in the CMA NW lode
		where drill holes are oblique to the lode.
*Diagrams*	Appropriate maps and sections (with	Collar plan of recent drilling results is included in the report to which this
	scales) and tabulations of intercepts should	table relates.
	be included for any significant discovery
	being reported These should include, but
	not be limited to a plan view of drill hole
	collar locations and appropriate sectional
	views.
*Balanced*	Where comprehensive reporting of all	Holes that did not intercept significant mineralisation are shown on the collar
*reporting*	Exploration Results is not practicable,	plan and “NSI” holes are included in tables of intercepts.
	representative reporting of both low and
	high grades and/or widths should be
	practiced to avoid misleading reporting of
	Exploration Results.
*Other*	Other exploration data, if meaningful and	The Yaouré property has been subject to extensive exploration, including:
*substantive* *exploration*	material, should be reported including (but not limited to): geological observations;	• Soil sampling, surface mapping
*data*	geophysical survey results; geochemical	• Approximately 380,000 metres of drilling
	survey results; bulk samples – size and
	method of treatment; metallurgical test	• Previous mining by_Compagnie Miniere d’Afrique_(CMA) and Cluff
	results; bulk density, groundwater,	Mining plc
	geotechnical and rock characteristics; potential deleterious or contaminating	• Airborne EM, gravity, radiometrics and magnetic surveys
	substances.	• 2D & 3D seismic surveys.
		The CMA Lode is presently being exploited by open pit mining.
*Further work*	The nature and scale of planned further	Perseus intends to continue drilling at the Yaouré Gold Mine to delineate
	work (e.g. tests for lateral extensions or	additional Mineral Resources and Ore Reserves and to undertake such
	depth extensions or large-scale step-out	further studies as are required to support a decision to develop additional
	drilling).	open pits at Yaouré and an underground mine to exploit the extensions of
	Diagrams clearly highlighting the areas of	the CMA lodes beneath the limits of open pit mining.
	possible extensions, including the main
	geological interpretations and future
	drilling areas, provided this information is
	not commercially sensitive.

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JORC 2012 Table 1 – Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)

Criteria	JORC Code explanation	Commentary
Database	Measures taken to ensure that data has not	All geological data is captured and stored in a acQuire™ SQL geological
integrity	been corrupted by, for example,	database. The database is hosted securely through Azures cloud servers
	transcription or keying errors, between its	managed by Perseus personnel. User access to the database is regulated by
	initial collection and its use for Mineral	specific user permissions.
	Resource estimation purposes.	The acQuire™ database is configured for validation through parent/child
	Data validation procedures used.	table relationships, required fields, logical constraints and referenced library
		tables. Data that fails these rules on import is rejected or quarantined until it
		is corrected.
		The acQuire™ database is centrally managed by a Database Manager who is
		responsible for all aspects of data entry, validation, development, and quality
		control & specialist queries. There is a standard suite of validation checks for
		all data.
		Database and geological staff routinely validate database entries with
		reference to original data.
Site visits	Comment on any site visits undertaken by	The CP visited the Yaouré site during September 2022 and inspected
	the Competent Person and the outcome of	available drilling intersections and sample preparation facilities.
	those visits.
Geological	Confidence in (or conversely, the	Yaouré Open Pit Mineral Resource estimate:
interpretation	uncertainty of) the geological interpretation of the mineral deposit.	Geological logging of lithology and alteration support the three-dimensional interpretations of mineralised structures that form the basis of the estimate
	Nature of the data used and of any	of Mineral Resources. Confidence in the geological interpretation is also
	assumptions made.	based on geological knowledge acquired from Yaouré open pit mined
		between 1999 to 2003.
	The effect, if any, of alternative
	interpretations on Mineral Resource	The geological interpretation is considered robust & alternative
	estimation.	interpretations are considered not to have a material effect on the Mineral
	The use of geology in guiding and controlling Mineral Resource estimation.	Resource. As additional geological data is collated, the geological interpretation is continually being updated.
	The factors affecting continuity both of grade and geology.	Mineralisation at Yaouré is defined by drill spacing at regular grids of approximately 25m to 50m space coverage of the Mineral Resource defined by the US$1,800/oz pit optimisation shell.
		CMA Underground Mineral Resource estimate:
		The geometry and extents of gold mineralisation in the CMA lodes have been
		established with certainty by drilling at spacings ranging from 25m x 30m to
		100m x 100m (along strike and down-dip).
		Geological logging of lithology and alteration support the three-dimensional
		interpretations of mineralised structures that form the basis of the estimate
		of Mineral Resources.
		The confidence in the interpretation of mineralised structures at CMA is such
		that it is not considered reasonable to consider alternative interpretations.
		Confidence in the geological interpretation is also based on geological
		knowledge acquired from the open pit.
		Geological setting and mineralisation controls have been established with
		sufficient confidence for the current estimates. As additional geological data
		is collated, the geological interpretation is continually being updated.
Dimensions	The extent and variability of the Mineral	Yaouré Open Pit Mineral Resource estimate:
	Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.	The Yaouré open pit Mineral Resource is currently defined to a maximum vertical depth of approximately 400m from surface with Indicated Resources defined to an approximate depth of 250 metres and Inferred Resources
		defined to an approximate depth of 350 metres. The Mineral Resource
		extends over 1,500 metres in strike length and mineralisation remains open
		at depth.
		CMA Underground Mineral Resource estimate:
		CMA underground Mineral Resource extends from the designed base of the
		CMA open pit to a maximum vertical depth of approximately 185 metres for
		Indicated Resources and 350 metres for Inferred Resources. The

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Criteria	JORC Code explanation	Commentary
		corresponding down-dip extents beneath the pit design base are
		approximately 400 metres and 700 metres. The Mineral Resource extends
		over 1,400 metres in strike length and mineralisation remains open along the
		moderately plunging trend to the north.
Estimation	The nature and appropriateness of the	Yaouré Open Pit Mineral Resource estimate:
and modeling techniques	estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method	Mineral Resources were estimated for gold using either Ordinary Kriging (OK) or Inverse Distance (ID) methods of 1 metre down-hole composited gold grades from RC and diamond drilling. The geological modelling and resource estimation was conducted using Leapfrog Geo™ software and the Edge™ module.
	was chosen include a description of	Discrete individual lodes (domains) were modelled using the interval
	computer software and parameters used.	selection tool and vein modelling function in Leapfrog Geo™. Domain
	The availability of check estimates, previous estimates and/or mine production records	intervals were selected based on geological characteristics of the mineralisation and a nominal cut-off grade of 0.2 g/t gold.
	and whether the Mineral Resource estimate	The estimation approach and estimate search strategy was chosen on an
	takes appropriate account of such data.	individual domain basis based on inputs criteria including the number of
	The assumptions made regarding recovery of by-products.	samples, drill hole spacing, lode (domain) orientation and variogram model analysis. Estimates were undertaken as hard boundaries into parent blocks with dimensions of 8.0 mE by 16.0 mE by 5.0 mRL. The block size was selected
	Estimation of deleterious elements or other	based on drill hole spacing, the geometry of the mineralisation and the
	non-grade variables of economic	selective mining unit (4.0 m x 4.0 m x 2.5 m). Parent blocks were sub-blocked
	significance (e.g. sulphur for acid mine	to 0.5 mE by 1.0 mN by 0.625 mRL to improve the volume definition of the
	drainage characterisation).	domains. Block discretisation was set to 3 x 5 x 3 nodes per block.
	In the case of block model interpolation, the	Search ellipses were oriented to reflect the strike and dip directions of each
	block size in relation to the average sample	of the lodes and where applicable dynamic anisotropy was applied.
	spacing and the search employed.	Generally, two estimation search passes were applied to the estimation of
	Any assumptions behind modelling of selective mining units.	each domain. The first estimation pass had ranges generally set to the range of the modelled semi-variogram sill or the distance of the closest spaced drilling with a requirement to find a minimum of 8 composites and maximum
	Any assumptions about correlation between	of 24 to 36 composites for a block to be estimated. First pass estimates were
	variables.	based on a quadrant search with a minimum number of two quadrants
		required with a typical drillhole restriction of 4 to 8 composites per hole. The
	Description of how the geological	second estimation pass utilised a reduced level of restrictions and increased
	interpretation was used to control the	search distance typically double the length of the first pass to estimate
	resource estimates.	unassigned blocks. Top-cuts were applied based on an individual lode
	Discussion of basis for using or not using	(domain) basis and ranged between 10 g/t to 40 g/t gold.
	grade cutting or capping.	Gold grade estimates were validated statistically by comparing mean
	The process of validation, the checking process used, the comparison of model data	composited grades to mean estimated grades, by gold grade trends in easting, northing and elevation Swath plots and by visual checks in Leapfrog.
	to drill hole data, and use of reconciliation	The estimation technique is considered appropriate for the mineralisation
	data if available.	style and as a basis for the estimation of Ore Reserves that might be
		recoverable by open pit mining methods.
		CMA Underground Mineral Resource estimate:
		Mineral Resources were estimated for gold using either Ordinary Kriging
		(OK) or Inverse Distance (ID) methods of 1 metre down-hole composited
		gold grades from RC and diamond drilling. The geological modelling and
		resource estimation was conducted using Leapfrog Geo™ software and the
		Edge™ module.
		Discrete individual lodes (domains) were modelled using the interval
		selection tool and vein modelling function in Leapfrog Geo™. Domain
		intervals were selected based on geological characteristics of the CMA
		mineralisation and a nominal cut-off grade of 0.5 g/t gold.
		The estimation approach and estimate search strategy was chosen on an
		individual domain basis based on inputs criteria including the number of
		samples, drill hole spacing, lode (domain) orientation and variogram model
		analysis. Estimates were undertaken as hard boundaries into parent blocks
		with dimensions of 10.0 mE by 12.5 mE by 5.0 mRL. The block size was
		selected based on drill hole spacing, the geometry of the mineralisation.
		Parent blocks were sub-blocked to 0.625 mE by 3.125 mN by 0.3125 mRL to
		improve the volume definition of the domains. Block discretisation was set

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Criteria	JORC Code explanation	Commentary
		to 3 x 5 x 3 nodes per block for all domains except the CMA northwest lode
		which was set to 5 x 5 x 2 nodes per block.
		Search ellipses were oriented to reflect the strike and dip directions of each
		of the lodes and where applicable dynamic anisotropy was applied.
		Generally, two estimation search passes were applied to the estimation of
		each domain. The first estimation pass had ranges generally set to the range
		of the modelled semi-variogram sill or the distance of the closest spaced
		drilling with a requirement to find a minimum of 4 to 8 composites and
		maximum of 24 composites for a block to be estimated. First pass estimates
		were based on a quadrant search with a minimum number of two quadrants
		required with a typical drillhole restriction of 4 composites per hole for the
		principal CMA lodes. Other lodes/domains are estimated with no sector
		search restrictions apart from maximum composites per hole of between 2
		to 4 composites. The second estimation pass utilised a reduced level of
		restrictions and increased search distance typically double the length of the
		first pass to estimate unassigned blocks. Top-cuts were applied based on an
		individual lode (domain) basis and ranged between 10 g/t to 35 g/t gold.
		Gold grade estimates were validated statistically by comparing mean
		composited grades to mean estimated grades, by gold grade trends in
		easting, northing and elevation Swath plots and by visual checks in Leapfrog.
		The estimation technique is considered appropriate for the mineralisation
		style and as a basis for the estimation of Ore Reserves that might be
		recoverable by underground mining methods.
Moisture	Whether the tonnages are estimated on a	Tonnages are estimated on a dry basis.
	dry basis or with natural moisture, and the
	method of determination of the moisture
	content.
Cut-off	The basis of the adopted cut-off grade(s) or	Yaouré Open Pit Mineral Resource estimate:
parameters	quality parameters applied.	The block cut-off grade of 0.4 g/t for the stated Yaouré open pit Mineral
		Resource estimate reflects the average break-even cut-off grade that derives
		from the cost and revenue parameters estimated in the Yaouré open pit Ore
		Reserve based on a gold price of US$1,800/oz.
		CMA Underground Mineral Resource estimate:
		The block cut-off grade of 1.5 g/t Au for the stated CMA underground Mineral
		Resource estimate reflects the incremental stoping cut-off grade that derives
		from cost and revenue parameters estimated in the CMA Underground
		Feasibility Study and a gold price of US$1,800/oz.
Mining factors	Assumptions made regarding possible	Mineral Resource estimates are based on proposed exploitation by
or	mining methods, minimum mining	conventional open pit load and haul or mechanised underground mining
assumptions	dimensions and internal (or, if applicable,	methods and ore processing by CIL at the existing Yaouré plant.
	external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider	The estimates do not include adjustments to allow for ore loss or dilution that might occur in either open pit or underground mining and appropriate modifying factors should be applied for estimation of Ore Reserves.
	potential mining methods, but the
	assumptions made regarding mining
	methods and parameters when estimating
	Mineral Resources may not always be
	rigorous. Where this is the case, this should
	be reported with an explanation of the basis
	of the mining assumptions made.
Metallurgical factors or assumptions	The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider	The Yaouré open pit Ore Reserve and CMA underground Feasibility Study contemplates processing both Yaouré open pit and CMA underground ore using the existing Yaouré Gold Mine CIL plant. Yaouré Open Pit Mineral Resource estimate:
	potential metallurgical methods, but the	Metallurgical testwork of the Yaouré open pit mineralisation predicts gold
	assumptions regarding metallurgical	recoveries ranging between:
	treatment processes and parameters made
	when reporting Mineral Resources may not	• 70.1 to 98.3% for completely oxidised material
	always be rigorous. Where this is the case, this should be reported with an explanation	• 81.1 to 97.2% for partially oxidised material

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Criteria	JORC Code explanation	Commentary
	of the basis of the metallurgical	• 89.0 to 98.5% for fresh rock
	assumptions made.	The average estimated gold recoveries by material and lithology types for the
		Yaouré open pit are:
		• 93.0% for completely oxidised material
		• 93.3% for partially oxidised material
		• 92.6% for fresh basalt and volcaniclastics
		• 93.8% for fresh granodiorite
		CMA Underground Mineral Resource estimate:
		Testwork and analysis for the CMA underground Feasibility Study has
		resulted in the generation of a metallurgical processing recovery formula
		which represents the spatial distribution of processing recovery across the
		orebody.
		Gold recoveries estimated by the recovery formula range from 80.5% to
		92.1%. The average estimated metallurgical processing recovery for the
		CMA Underground mineralisation is 87.2%.
Environmental	Assumptions made regarding possible	Adequate testwork has been completed to indicate that waste rock from
factors or	waste and process residue disposal options.	open pit and underground mining is unlikely to be acid generating and is likely
assumptions	It is always necessary as part of the process	to have significant acid buffering capacity.
	of determining reasonable prospects for eventual economic extraction to consider	There are no known significant concentrations of deleterious elements
	the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential	associated with mineralisation at either the Yaouré or CMA deposit. Tailings material from processing of the open pit and underground ore is expected to be suited to disposal in the existing Yaouré tailings storage facility.
	environmental impacts, particularly for a	Yaouré mine operates under permits based upon an Environmental and
	green fields project, may not always be well	Social Impact Assessment (ESIA) that was approved on 20 April 2018. Being
	advanced, the status of early consideration	an extension to existing open pit mine operations, exploitation of CMA
	of these potential environmental impacts	underground is expected to be covered by existing permits.
	should be reported. Where these aspects
	have not been considered this should be
	reported with an explanation of the
	environmental assumptions made.
Bulk density	Whether assumed or determined. If	Density measurements was assigned based on drill core measurements
	assumed, the basis for the assumptions. If	based on a dataset of 2,024 measurements. Density measurements were
	determined, the method used, whether wet	collected using the water immersion technique and calculated using
	or dry, the frequency of the measurements,	Archimedes’ Principle.
	the nature, size and representativeness of the samples.	Bulk densities were applied to the block model by oxidisation type and lithology, with values of 1.80 t/m3for completely weathered material, 2.10
	The bulk density for bulk material must	t/m3for transitional weathered material, 2.70 t/m3for sediments in fresh
	have been measured by methods that	material, 2.85 t/m3for basalt in fresh material, 2.80 t/m3for intrusive
	adequately account for void spaces (vugs,	porphyritic dykes and 2.75 t/m3for granodiorite.
	porosity, etc.), moisture and differences between rock and alteration zones within	Tonnages are estimated on a dry basis.
	the deposit.
	Discuss assumptions for bulk density
	estimates used in the evaluation process of
	the different materials.
Classification	The basis for the classification of the	The Mineral Resource classifications account for all relevant factors
	Mineral Resources into varying confidence	(including drill hole spacing and orientation, confidence in the geological
	categories.	model and statistical validation of the estimate) and reflect the Competent
	Whether appropriate account has been	Person's views of the reliability of the estimates.
	taken of all relevant factors (i.e. relative	The data spacing and distribution is sufficient to establish geological and
	confidence in tonnage/grade estimations,	grade continuity appropriate for Mineral Resource estimation and
	reliability of input data, confidence in	classification and as such the results appropriately reflect the Competent
	continuity of geology and metal values,	Person’s view of both the Yaouré and CMA deposits.
	quality, quantity and distribution of the
	data).
	Whether the result appropriately reflects
	the Competent Person’s view of the deposit.

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Criteria	JORC Code explanation	Commentary
Audits or	The results of any audits or reviews of	The Yaouré open pit and CMA underground Mineral Resource estimates have
reviews	Mineral Resource estimates.	not been subject to any independent reviews.
Discussion of	Where appropriate a statement of the	Confidence in the relative accuracy of the Yaouré open pit and CMA
relative	relative accuracy and confidence level in the	underground resource estimates is communicated through the classification
accuracy/	Mineral Resource estimate using an	of estimates being assigned as either Indicated and Inferred Mineral
confidence	approach or procedure deemed appropriate	Resources.
	by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy	The Yaouré open pit and CMA underground Mineral Resource statements relate to the global estimates of tonnes and grade.
	of the resource within stated confidence
	limits, or, if such an approach is not deemed
	appropriate, a qualitative discussion of the
	factors that could affect the relative
	accuracy and confidence of the estimate.
	The statement should specify whether it
	relates to global or local estimates, and, if
	local, state the relevant tonnages, which
	should be relevant to technical and
	economic evaluation. Documentation
	should include assumptions made and the
	procedures used.
	These statements of relative accuracy and
	confidence of the estimate should be
	compared with production data, where
	available.

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JORC 2012 Table 1 – Section 4 Estimation and Reporting of Ore Reserves

This section has been prepared by Perseus Mining Limited to support the Statement of Ore Reserves for the CMA Underground as of 30 June 2022

Criteria JORC Code explanation	Commentary	Commentary	Commentary	Commentary
*Mineral* *Resource* *estimate for* *conversion to* *Ore Reserves* Description of the Mineral Resource estimate used as a basis for the conversion to an Ore Reserve. Clear statement as to whether the Mineral Resources are reported additional to, or inclusive of, the Ore Reserves.	The underground Mineral Resources for CMA underground and Yaouré open pit were estimated by Mr Hans Andersen, a full-time employee of Perseus Mining Services Pty Ltd and Competent Person for the Mineral Resource. Mineral Resources quoted in this report are inclusive of Ore Reserves.
*Site visits* Comment on any site visits undertaken by the Competent Person and the outcome of those visits. If no site visits have been undertaken indicate why this is the case.	Mr Adrian Ralph is the Competent Person for the purpose of the CMA underground and Yaouré open pit JORC Ore Reserve and is a full-time employee of Perseus Mining Services Pty Ltd. Adrian undertakes regular visits to the Yaouré mine site (including the CMA and Yaouré open pits), most recently during May 2023.
*Study status* The type and level of study undertaken to enable Mineral Resources to be converted to Ore Reserves. The Code requires that a study to at least Pre-Feasibility Study level has been undertaken to convert Mineral Resources to Ore Reserves. Such studies will have been carried out and will have determined a mine plan that is technically achievable and economically viable, and that material Modifying Factors have been considered.	The Mineral Resources for CMA underground and Yaouré open pit have been converted to Ore Reserves by means of feasibility-level studies. The CMA underground Reserves will be combined with open pit Reserves in an updated operational Life of Mine (LOM) plan for Yaouré Gold Mine, which will be prepared during the September Quarter 2023. The Yaouré open pit was part of the Yaouré Gold Mine FEED study completed during 2018. Yaouré open pit Ore Reserve increase is an extension of the current Yaouré open pit Ore Reserves at the operating Yaouré Gold Mine site. CMA underground Ore Reserves and Yaouré open pit Ore Reserves are determined from technically achievable mine designs. The CMA underground mine design and Yaouré open pit were scheduled,and results included in a financial model to ensure economic viability. Material Modifying Factors (MF) were considered and applied where necessary.
*Cut-off* *parameters* The basis of the cut-off grade(s) or quality parameters applied.	CMA underground cut-off grades: A range of cut-off grades (COG) were applied to estimate the CMA underground Ore Reserves. The cut-off grade applied in each situation depends upon a decision to mine a given block of material, and whether to send material to waste or include it in Ore Reserves. Material is included in Ore Reserves if it is above the relevant cut-off grade, taking into accountcosts incurred to mine and process that material. Cut-off grades applied forthe CMA underground Ore Reserves are: • Incremental Development Cut-off grade: 0.5 g/t • Incremental Stoping Cut-off grade: 2.5 g/t Yaouré open pit cut-off grades: The Yaouré open pit cut-off grades range from 0.45 g/t to 0.75 g/t depending upon material type, as per the table below. The major factor affecting COG is processing throughput, which in turn affects processing and G&A unit costs. MATERIAL TYPE OXIDE TRANSITION YAOURÉ BASALT YAOURÉ GRANODIORITE Cut-off (g/t) 0.45 0.50 0.75 0.60
	MATERIAL TYPE	OXIDE	TRANSITION	YAOURÉ
				BASALT
	Cut-off (g/t) 0.45 0.50 0.75

*Mining factors* *or assumptions* The method and assumptions used as reported in the Pre-Feasibility or Feasibility Study to convert the Mineral Resource to an Ore Reserve (i.e. either by application of appropriate factors by optimisation or by preliminary or detailed design). The choice, nature and appropriateness of the selected mining method(s) and other mining parameters including associated design issues such as pre-strip, access, etc.	The CMA underground and Yaouréopen pit have been converted from Mineral Resources to Ore Reserves through a detailed mine design. CMA underground modifying factors and assumptions: CMA underground is designed to be mined by a combination of (mechanised) flat longhole open stoping and conventional longhole open stoping mining methods. The mining method is dependent upon the dip of the orebody which ranges from 5 degrees to 20 degrees for flat longhole stoping, and up to 62 degrees for conventional longhole stoping. The split between the mining methods is 98% percent flat longhole open stoping and 2% percent conventional longhole open stoping respectively on a tonnes basis. Backfill is not part of the CMA Ore Reserve.

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Criteria	JORC Code explanation	Commentary
	The assumptions made regarding	The mechanised mining methods selected for CMA underground are utilised in
	geotechnical parameters (e.g. pit	other operations, both in Australia and Internationally.
	slopes, stope sizes, etc.), grade control and pre-production drilling.	Stope dimensions for flat longhole stoping are a footwall design slope of 1:6 to allow trafficabilityfor remote loaders. For conventional longhole stoping, the
	The major assumptions made and	footwall is a minimum angle of 40 degrees.
	Mineral Resource model used for pit	Flat longhole stopes are spaced 10 m horizontally apart (wall to wall), which limits
	and stope optimisation (if	the length of production drillholes to a practical and achievable length of less than
	appropriate).	16 m, depending upon the forward angle of the holes and the dip of the orebody.
	The mining dilution factors used.	Conventional longhole stopes are nominally spaced 20m vertically apart.
	The mining recovery factors used.	Development ore drives are nominally 4.7m wide by 5.0m heigh, however both drive height and width can increase to accommodate the dimensions of the
	Any minimum mining widths used.	orebody.
	The manner in which Inferred Mineral Resources are utilised in	Orebody minimum mining width for flat open stopes is 4.0m and 3.0m for conventional open stopes.
	mining studies and the sensitivity of	Pillar dimensions are 10m by 10m in along strike and up dip of the orebody.
	the outcome to their inclusion.	Pillar spacing along strike allows for 40m open stopes, which equates to 81%
	The infrastructure requirements of the selected mining methods.	extraction ratio (mining recovery) due to pillars, inclusive of vent and crown pillars.
		40m stope strike extents are considered a practical distance over which to
		successfully operate remote loaders to recover ore from flat open stopes.
		Geotechnical assessment to confirm appropriate pillar dimensions and stope
		spans have been undertaken by MineGeoTech Pty Ltd as part of the CMA
		underground Feasibilitystudy.
		The CMA lode within the Mineral Resource is anticipated to be visually identified
		and followed when mining underground. Grade control drilling has been allowed
		for in project costing to further delineate ore prior to stoping in selected areas of
		the orebody.
		The CMA underground Mineral Resource was converted to an Ore Reserve by the
		application of appropriate Modifying Factors and costs estimated during testwork
		and studies at Feasibility level.
		Production stope design is created using Deswik Mineable Stope Optimiser
		software, with further manual adjustments to ensure mining shapes are realistic
		and achievable.
		Modifying Factors are applied in the Deswik Scheduler software to generate an
		Ore Reserve mine schedule which includes planned dilution, unplanned dilution
		and mining recovery.
		Planned mining dilution for CMA underground is estimated to be 34% of tonnes
		mined.
		Unplanned mining dilution for CMA underground is estimated to be 10% for
		production and 5% for development (tonnes basis).
		An additional general ore loss of 10% (flat stoping) and 30% (conventional stoping)
		is included in the Ore Reserve Modifying Factors. For the crown pillar area, this is
		increased to 50% ore loss (50% mining recovery).
		The recovery factor due to pillars (extraction ratio) across the orebody is a further
		81% (19% ore loss).
		There are no Inferred Mineral Resources included in the CMA underground
		FeasibilityOre Reserve.

Some development Ore Reserves above the COG of 0.5 g/t, but below the Mineral Resource cut-off of 1.5 g/t are not therefore a subset of the Mineral Resource. This material accounts for 5.5 kt tonnes or 200 ounces (<0.04% metal) which is included within the Ore Reserve. This incidental mineralisation is not considered material to the CMA underground Ore Reserve. Mineralised dilution within stoping shapes is a combination of Indicated, Inferred and unclassified material.

Stope optimisation for Ore Reserves was run on only Indicated Mineral Resources. There are no Inferred Mineral Resources within the CMA production shapes that drive the value of the Ore Reserves.

Open pit mining and processing infrastructure is in place at Yaouré. Only incremental infrastructure costs for the underground mine are included in the CMA underground Ore Reserve.

Additional infrastructure needed for the CMA underground operation includes additional camp rooms, contractor workshops and offices, client underground offices, surface power line extensions and primary ventilation fans.

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Criteria	JORC Code explanation	Commentary
		Yaouré open pit modifying factors and assumptions:
		For Yaouré open pit, the chosen method of mining is conventional open pit mining
		utilising hydraulic excavators and trucks, mining bench heights of 10 m with 2.5m
		flitches to minimise ore loss and waste rock dilution. This configuration is the
		same as currently used for mining of open pits at the Yaouré Gold Mine.
		The Yaouré open pit Ore Reserve is based upon a reblocked version of the Yaouré
		open pit Mineral Resource model. The Ore Reserve model has been reblocked to
		4.0 m x 4.0 m x 2.5 m block size, which introduces a dilution of 8% additional ore
		tonnes for 11% reduction in grade and mining recovery of 96% of ounces relative
		to the sub-blocked Mineral Resource model. No additional dilution or mining
		recovery factors have been applied to the Yaouré open pit Ore Reserve.
		An economic pit shell was defined using Whittle pit optimisation software
		(“Whittle”) with inputs such as geotechnical parameters, metallurgical recovery
		and mining costs at a $1,500/oz gold price.
		The pit optimisation was run with revenue generated only by Measured and
		Indicated Mineral Resources. No value was allocated to Inferred Mineral
		Resources.
		Whittle input parameters are based on Perseus Mining Limited site operating
		experience and existing testwork and supporting technical studies undertaken as
		part of the Yaouré Feasibility study.
		The pit slope design assumptions are based on a geotechnical study by Pitt and
		Sherry as part of the 2018 Yaouré feasibility (FEED) Study. Additional geotechnical
		samples and testwork will be undertaken during FY24 drilling to extend the
		orebody knowledge and further refine the slope design parameters.
		Inter-ramp slope angles are 30 to 40 degrees inclusive of berms spaced at 10
		metres vertically and berm widths of 4.5 to 7 metres.
		As with other open pit mines at Yaouré, a conventional reverse circulation drilling
		(RC) grade control program will be undertaken ahead of open pit mining. This has
		been accounted for in mining cost estimates.
		Pit ramps have been designed for a 100-tonne payload truck fleet and are set at
		24 metres (dual lane) to 16 metres (single lane). Minimum mining with is 40m for
		the 100-tonne class truck fleet.
		Inferred Mineral Resources have not been included in the Yaouré open pit Ore
		Reserve.
		There are no constraints to mining within the lease area.
		No property, infrastructure or environmental issues are known to exist which may
		limit the extent of mining within the mining lease.
*Metallurgical* *factors or* *assumptions*	The metallurgical process proposed and the appropriateness of that process to the style of mineralisation.	The Yaouré processing plant uses crushing, grinding, gravity and cyanide leaching to extract gold. The plant has a nominal nameplate capacity of 3.3Mtpa on fresh ore. The technology used in the processing plant is well proven, and the plant has
	Whether the metallurgical process is	been operating successfully since November 2020.
	well-tested technology or novel in	The processing testwork is representative of the Ore Reserve mining area.
	nature.	No deleterious material has been identified for either CMA underground or
	The nature, amount and	Yaouré open pit.
	representativeness of metallurgical	CMA underground metallurgical factors and assumptions:
	test work undertaken, the nature of the metallurgical domaining applied and the corresponding metallurgical recovery factors applied.	Testwork and analysis for the CMA underground at feasibility level has resulted in the generation of a metallurgical processing recovery formula which represents the spatial distribution of processing recovery across the orebody. The processing recovery formula has been incorporated into the mine schedule to
	Any assumptions or allowances made	apply recoveries based on the spatial location of the relevant mining shape. The
	for deleterious elements.	range of processing recoveries estimated by the recovery formula for the CMA
	The existence of any bulk sample or pilot scale test work and the degree	underground Ore Reserve ranges from 80.5% to 92.1% on a monthly basis. The average metallurgical processing recovery for the CMA underground Ore
	to which such samples are considered	Reserves is 87.2%.
	representative of the orebody as a	Testwork and analysis for the CMA underground has shown that reducing the
	whole.	grind size from P8075μm to P8053μm yields an economic benefit. Recovery
	For minerals that are defined by a specification, has the ore reserve estimation been based on the	assumptions for the CMA underground Ore Reserves are based upon the additional power consumption costs associated with batch (campaign) treating CMA underground ore in order to achieve the finer grind size of P8053μm.
	appropriate mineralogy to meet the	Yaouré open pit metallurgical factors and assumptions:
	specifications?	The process metallurgical recovery for gold is fixed by material type in each
		deposit. Gold recovery rates range from 92.6% for the fresh Yaouré basalt ore to
		93.8% for the Yaouré granodiorite ore. Recovery is shown in the table below.

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Criteria JORC Code explanation	Commentary	Commentary
		METALLURGICAL RECOVERIES BY ORE TYPE (%) Oxide Transition Fresh Basalt Fresh Granodiorite
	DEPOSIT

	Yaouré 93.0 93.3 92.6 93.8 Average annual processing throughput rate of ore is 4.0Mtpa for oxide and transitional ore and 2.5Mtpa and 3.3Mtpa for Yaouré basalt and Yaouré granodiorite respectively.
*Environment* The status of studies of potential environmental impacts of the mining and processing operation. Details of waste rock characterisation and the consideration of potential sites, status of design options considered and, where applicable, the status of approvals for process residue storage and waste dumps should be reported.	No environmental issues are known to exist which will prevent either open pit or underground mining and ore processing to continue to operate. Based on testing to date there is no risk of acid rock drainage as any potentially acid generating material is encapsulated within acid neutralising material. Permitted capacity for waste dumps and tailings facilities exist at Yaouré Gold Mine to cater for the Ore Reserve additions in this report, and waste dump designs are updated on a regular basis to accommodate future requirements.
*Infrastructure* The existence of appropriate infrastructure: availability of land for plant development, power, water, transportation (particularly for bulk commodities), labour, accommodation; or the ease with which the infrastructure can be provided or accessed.	Power supply is from the national grid system supplied by the Ivorian electricity company. Water supply is largely from groundwater extracted from dedicated boreholes and supplemented by decant water for the processing plant. Access to site is via public road from Yamoussoukro city. A camp is established to accommodate non-local employees, and this will be expanded to accommodate the underground workforce. Workshops, offices, storage of reagents and laboratory are established at the processing plant to support existing open pit and processing activities. Additional contractors and client office, changeroom and workshop facilities will be established for the CMA underground. No new infrastructure will be required for the expanded Yaouré open pit ore Reserves.
*Costs* The derivation of, or assumptions made, regarding projected capital costs in the study. The methodology used to estimate operating costs. Allowances made for the content of deleterious elements. The derivation of assumptions made of metal or commodity price(s), for the principal minerals and co- products. The source of exchange rates used in the study. Derivation of transportation charges. The basis for forecasting or source of treatment and refining charges, penalties for failure to meet specification, etc. The allowances made for royalties payable, both Government and private.	Gold is the only metal considered in the Ore Reserves. All costs are in USD. A gold price of US$1,500/oz was used for mine planning. Bullion and Refining cost of US$3.05/oz was applied based on contract. Allowances have been made for royalties payable to the Ivorian government. There are no private royalties applicable to the CMA underground. CMA underground costs: The mining costs are based on estimates provided by two mining contractors with existing mining contracts in Francophone West Africa. Capital costs have been provided by Perseus and its consultants as appropriate. All other operating costs have been provided by Perseus and its consultants, based on existing contracts or recent quotations as appropriate. All costs quoted are pre-tax costs. Overall mining costs for the CMA underground include US$50-60/t ore, excluding sustaining capital of US$11-13M. Project development capital is estimated at US$125-135M, inclusive of capitalised pre-production operating costs up until commercial production rates of 50kt per month are achieved. Processing and G&A costs are estimated to be US$14.76/t ore and US$7.26/t ore respectively. All costs, metal prices and revenues are in United States Dollars (USD). All-in Site Cost (AISC) for the CMA UG Ore Reserves are in the range US$1,000oz to US$1,100/oz. Yaouré open pit costs: Mining costs for the Yaouré open pit have been extrapolated from existing mining contracts on site for the previous Yaouré open pit Ore Reserves. Processing costs are based on testwork and analysis of Yaouré open pit ore and operating experience of the Yaouré Gold Mine processing facility. G&A costs for Yaouré are based on current operations.

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Criteria	JORC Code explanation	Commentary

*Revenue* *factors*	The derivation of, or assumptions made regarding revenue factors including head grade, metal or commodity price(s) exchange rates,	A gold price of US$1,500/oz was used for mine planning and generating cut-off grades for stope optimisation. Economic modelling by Perseus is at US$1,500/oz.
	transportation and treatment	Bullion and Refining cost of US$3.05/oz was applied.
	charges, penalties, net smelter	A government royalty of 4.5% of the metal price was applied.
	returns, etc.
	The derivation of assumptions made
	of metal or commodity price(s), for
	the principal metals, minerals and co-
	products.
*Market* *assessment*	The demand, supply and stock situation for the particular commodity, consumption trends and	The demand for gold is considered at the gold price used. It was considered that gold will be marketable beyond the processing life.
	factors likely to affect supply and	The processing forecast and mine life are based on life of mine plans.
	demand into the future.	The commodity is not an industrial metal.
	A customer and competitor analysis
	along with the identification of likely
	market windows for the product.
	Price and volume forecasts and the
	basis for these forecasts.
	For industrial minerals the customer
	specification, testing and acceptance
	requirements prior to a supply
	contract.
*Economic*	The inputs to the economic analysis to produce the net present value (NPV) in the study, the source and confidence of these economic inputs including estimated inflation, discount rate, etc.	An NPV is not used to define economic viability of Ore Reserves- they are incremental additions to the existing Yaouré Gold Mine operation, and in each case, to existing Ore Reserves. An updated operational Life of Mine (LOM) plan for the Yaouré Gold Mine will be prepared by Perseus in the September Quarter 2023, inclusive of the additional Ore Reserves contained herein.
	NPV ranges and sensitivity to variations in the significant assumptions and inputs.	Financial results to date on a pre-tax basis and a discount rate of 10%, confirm that the CMA underground and Yaouré open pit are economically viable on a stand-alone basis.
		Note that as the gold price changes so too will the economic limits of the
		underground mine therefore the Ore Reserves. Consequently, the size of the
		Project will therefore adjust to suit the revised economics.
*Social*	The status of agreements with key stakeholders and matters leading to social licence to operate.	Perseus has established relevant agreements with local stakeholders for current operations at Yaouré, and this is anticipated to continue for the CMA underground.
		Perseus has and will continue to use skilled expatriate workers and locally sourced
		skilled workers.
*Other*	To the extent relevant, the impact of the following on the project and/or on the estimation and classification of the Ore Reserves:	There are currently no large-scale, mechanised underground mines in Côte d’Ivoire, and as such there is no specific underground mining legislation. Updated mining regulations are currently being developed, and a draft is planned to be completed toward the end of 2023.
	Any identified material naturally	Recent experience of other mining companies in neighbouring West African
	occurring risks.	jurisdictions is lack of exiting underground regulations does not preclude the
	The status of material legal agreements and marketing arrangements.	development of new underground projects. Perseus will continue to engage the Ivorian government in relation to permitting and future underground development at Yaouré, including the CMA underground.
	The status of governmental agreements and approvals critical to the viability of the project, such as mineral tenement status, and	It is not anticipated that permitting or legal issues will prevent the CMA underground being developed. The estimate of Ore Reserves for the Yaouré open pit and CMA underground are not materially affected by any other known environmental, title, taxation, socio-
	government and statutory approvals. There must be reasonable grounds to expect that all necessary Government	economic, marketing, political or other relevant factors other than that described in the preceding text. It is believed that the classification of Ore Reserves as set out in the following sections is reasonable.
	approvals will be received within the
	timeframes anticipated in the Pre-
	_Feasibility or Feasibility study. _

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Criteria	JORC Code explanation	Commentary
	Highlight and discuss the materiality
	of any unresolved matter that is
	dependent on a third party on which
	extraction of the reserve is
	contingent.
*Classification*	The basis for the classification of the Ore Reserves into varying confidence	Ore Reserves have been classified based on the underlying Mineral Resources classifications. Indicated Mineral Resources are the basis for the CMA
	categories.	underground and Yaouré open pit Ore Reserves.
		The Ore Reserves have been classified as Probable Ore Reserves.
	Whether the result appropriately reflects the Competent Person’s view of the deposit.	The Ore Reserve classification is considered appropriate given the feasibility level studies which support the Ore Reserve, based upon expert testwork and analysis at the appropriate level of confidence.
	The proportion of Probable Ore
	Reserves that have been derived
	from Measured Mineral Resources (if
	any).
*Audits or* *reviews*	The results of any audits or reviews of Ore Reserve estimates.	Perseus has completed an internal technical review of the Ore Reserve estimate, which has resulted in approval of the estimate for public release. No material
		flaws were identified in the Ore Reserves.
		The JORC Code provides guidelines which set out minimum standards,
		recommendations,and guidelines for the Public Reporting of exploration results,
		Mineral Resources and Ore Reserves. Within the JORC Code is a “Checklist of
		Assessment and Reporting Criteria” (Table 1 – JORC Code). This checklist has been
		used as a systematic method to undertake a review of the underlying Study used
		to report in accordance with the JORC Code.
*Discussion of* *relative* *accuracy/* *confidence*	Where appropriate a statement of the relative accuracy and confidence level in the Ore Reserve estimate using an approach or procedure	The accuracy and confidence of the inputs are, as a minimum, of a Feasibility level. The key factors that are likely to affect the accuracy and confidence in the Ore Reserves are:
	deemed appropriate by the	• Accuracy of the underlying Resource Block Model;
	Competent Person. For example, the application of statistical or geostatistical procedures to quantify	• Changes in gold prices and sales agreements; • Changes in metallurgical recovery;
	the relative accuracy of the reserve	• Mining ore loss and dilution; and
	within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion	• Changes to the cost base due to supply challenges or inflationary pressures over time.
	of the factors which could affect the
	relative accuracy and confidence of
	the estimate.
	The statement should specify
	whether it relates to global or local
	estimates, and, if local, state the
	relevant tonnages, which should be
	relevant to technical and economic
	evaluation. Documentation should
	include assumptions made and the
	procedures used.
	Accuracy and confidence discussions
	should extend to specific discussions
	of any applied Modifying Factors that
	may have a material impact on Ore
	Reserve viability, or for which there
	are remaining areas of uncertainty at
	the current study stage.
	It is recognised that this may not be
	possible or appropriate in all
	circumstances. These statements of
	relative accuracy and confidence of
	the estimate should be compared
	with production data, where
	available.

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AI assistant

PERSEUS MINING LIMITED — Capital/Financing Update 2023

46513_rns_2023-08-22_d006b117-557f-4956-accd-9a3477f78a6e.pdf

PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE GROWTH AT YAOURÉ

HIGHLIGHTS

Perseus’s Managing Director and CEO Jeff Quartermaine said:

INTRODUCTION

OPEN PIT MINERAL RESOURCE

YAOURÉ OPEN PIT MINERAL RESOURCE MATERIAL INFORMATION SUMMARY

GEOLOGY AND GEOLOGICAL INTERPRETATION

DRILLING TECHNIQUES

DRILL COVERAGE

SAMPLING

SAMPLE ANALYTICAL METHODS

ESTIMATION METHODOLOGY

RESOURCE CLASSIFICATION

POTENTIAL FOR EVENTUAL ECONOMIC EXTRACTION

UNDERGROUND MINERAL RESOURCE

CMA UNDERGROUND MINERAL RESOURCE MATERIAL INFORMATION SUMMARY

GEOLOGY AND GEOLOGICAL INTERPRETATION

DRILLING TECHNIQUES

DRILL COVERAGE

SAMPLING

SAMPLE ANALYTICAL METHODS

ESTIMATION METHODOLOGY

RESOURCE CLASSIFICATION

POTENTIAL FOR EVENTUAL ECONOMIC EXTRACTION

OPEN PIT ORE RESERVE

CUT-OFF GRADES

MINING ASSUMPTIONS

PROCESSING PARAMETERS

CRITERIA FOR ORE RESERVE CLASSIFICATION

UNDERGROUND ORE RESERVE

CUT-OFF GRADES

MINING ASSUMPTIONS

MINE DESIGN

MINE SCHEDULE

METALLURGICAL ASSUMPTIONS

INFRASTRUCTURE

COSTS

ECONOMIC ASSUMPTIONS

ENVIRONMENT AND PERMITTING

CRITERIA FOR ORE RESERVE CLASSIFICATION

STOCKPILES

CMA UNDERGROUND AND YAOURÉ OPEN PIT RESOURCE DEFINITION DRILLING

CMA underground resource drilling

Yaouré open pit resource drilling

NEXT STEPS

Competent Person Statement:

Caution Regarding Forward Looking Information:

ASX/TSX CODE: PRU

REGISTERED OFFICE:

APPENDIX 1 - FIGURES

APPENDIX 2 – SIGNIFICANT INTERCEPTS TABLES

Table 2.1: CMA underground and Yaouré open pit resource drilling - drill holes and significant assays

NEWS RELEASE | PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE UPDATE AT YAOURÉ

NEWS RELEASE | PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE UPDATE AT YAOURÉ

NEWS RELEASE | PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE UPDATE AT YAOURÉ

NEWS RELEASE | PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE UPDATE AT YAOURÉ

NEWS RELEASE | PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE UPDATE AT YAOURÉ

NEWS RELEASE | PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE UPDATE AT YAOURÉ

NEWS RELEASE | PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE UPDATE AT YAOURÉ

NEWS RELEASE | PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE UPDATE AT YAOURÉ

NEWS RELEASE | PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE UPDATE AT YAOURÉ

NEWS RELEASE | PERSEUS MINING ANNOUNCES OPEN PIT AND UNDERGROUND ORE RESERVE UPDATE AT YAOURÉ

APPENDIX 3 – JORC TABLE 1

JORC 2012 Table 1 – Section 1 sampling techniques and data

CMA Underground Mineral Resource estimate:

JORC 2012 Table 1 – Section 2 Reporting of Exploration Results

JORC 2012 Table 1 – Section 3 Estimation and Reporting of Mineral Resources

JORC 2012 Table 1 – Section 4 Estimation and Reporting of Ore Reserves

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