PERSEUS MINING LIMITED — Director's Dealing 2020

Jul 30, 2020

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	PERSEUS MINING LIMITED
ABN	27 106 808 986

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Jeffrey Quartermaine
Date of last notice	2December 2019

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest		Direct and Indirect Interest
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving riseto the relevant interest.		Quartermaine Superannuation Fund,an entity in which Mr Quartermaineisa trusteeand a beneficiary
Date of change		28-31 July 2020
No. of securities held prior to change	Class	Held in the name of
800,000	Ordinaryfullypaid shares	Jeffrey Quartermaine
200,000	Ordinaryfullypaid shares	Quartermaine Superannuation Fund

Number acquired	1,666,667	Jeffrey Quartermaine
		Exercise of vested performancerightsat nil considerationon 28 July 2020
Number disposed	666,667	Jeffrey Quartermaine

+ See chapter 19 for defined terms.

Value/ConsiderationNote: If consideration is non-cash, provide detailsand estimated valuation		Sold at a weighted averageprice of$1.57 per share
No. of securities held after change	Class	Held in the name of
1,800,000	Ordinaryfullypaid shares	Jeffrey Quartermaine
200,000	Ordinaryfullypaid shares	Quartermaine Superannuation Fund

Nature of change
Example: on-market trade, off-market trade, exerciseof options, issue of securities under dividendreinvestment plan, participation in buy-back	Exercise of vested performance rights and subsequent onmarket sale of part of the shares to cover part of theincome tax liability

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest	Each Performance Right can convert to one ordinaryshare upon satisfaction of specified performance criteria(primarily the comparison of the Company's totalshareholder return over a specified period against a peergroup).
Name of registered holder(if issued securities)	N/A
Date of change	28 July 2020
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	3,346,500Performance Rights
Interest acquired	N/A
Interest disposed	1,666,667Performance Rightsdue to exercise
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	nil
Interest after change	1,679,833Performance Rights

+ See chapter 19 for defined terms.

Part 3 – +Closed period

Were the interests in the securities or contracts detailed above	no
traded during a +closed periodwhere prior written clearancewas required?
If so, was prior written clearance provided to allow the trade toproceed during this period?
If prior writtenclearance was provided, on what date was thisprovided?

+ See chapter 19 for defined terms.