PERSEUS MINING LIMITED — Interim / Quarterly Report 2021

Oct 19, 2020

SEPTEMBER 2020 QUARTER ACTIVITIES REPORT

EXECUTIVE SUMMARY

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ASX/TSX code : PRU

Capital structure as at 15 October 2020:

Ordinary shares: 1,225,653,854 Performance rights: 27,486,555 Directors:

Mr Sean Harvey Non-Executive Chairman Mr Jeff Quartermaine Managing Director & CEO Mr Dan Lougher Non-Executive Director Mr John McGloin Non-Executive Director Mr David Ransom Non-Executive Director

Registered Office:

Level 2

437 Roberts Road Subiaco WA 6008 Telephone: +61 8 6144 1700 Email: IR@perseusmining.com Website: www.perseusmining.com

Contacts:

For clarification of details, contact:

Jeff Quartermaine - Managing Director & CEO by email at jeff.quartermaine@perseusmining.com

Andrew Grove – Group General Manager BD and IR by email at andrew.grove@perseusmining.com

Nathan Ryan - Media Relations on +61 4 20 582 887 or by email at nathan.ryan@nwrcommunications.com.au

Perseus’s Edikan and Sissingué operations perform strongly

• Both operations continued to perform strongly in the September 2020 quarter as indicated by the following:

Parameter	Unit	Edikan	Sissingué	Perseus Group
Gold production	Ounces	39,685	29,087	68,772
Production Cost	US$/ounce	1,065	493	823
All-In Site Cost (“AISC”)	US$/ounce	1,240	587	964
Gold sales	Ounces	40,143	20,298	60,441
Average sales price	US$/ounce	1,611	1,562	1,595
Notional Cashflow	US$ million	14.7	28.4	43.1

• Relative to the prior quarter, gold production was up 6% to 68,772 ounces, production costs up 2% to US$823 per ounce and AISCs up 3% to US$964 per ounce.

• Gold sales decreased 23% to 60,441 ounces, weighted average gold sales price increased 3% to US$1,595 per ounce and notional cashflow increased 8% to US$43.1 million.

• Edikan and Sissingué are forecast to continue to produce strongly in the December 2020 quarter, and Yaouré is now expected to contribute to the Perseus group’s production performance in this period for the first time.

• Gold production and AISC guidance for the December 2020 Half Year remains unchanged at 125,500 to 139,000 ounces at an AISC of US$940 to US$1,025 per ounce.

Yaouré development project on schedule and budget

• Development of Yaouré remains on schedule to achieve the stretch target of pouring first gold in late December 2020.

• Project development was 85% complete, with US$222.7 million (84%) of the US$265.0 million budgeted project cost committed and US$191.4 million (72%) paid to suppliers of goods and services, by 30 September 2020.

Balance Sheet strength maintained by strong cash flows

• Available cash and bullion on hand at 30 September 2020 totalled US$147.4 million, a decrease of US$16.2 million relative to 30 June 2020. Corporate debt remains fully drawn to the facility limit of US$150 million giving a net debt position of US$2.6 million.

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FINANCIAL POSITION

(Unaudited) Cashflow and Balance Sheet

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In summary, Perseus has enjoyed a strong quarter in terms of cash flow generation and has maintained balance sheet strength notwithstanding ongoing investment in the development of the Yaouré Gold Mine and in exploration programmes aimed at providing organic growth.

Based on the spot gold price of US$1,887 per ounce and an A$:US$ exchange rate of 0.7141 at 30 September 2020, the total value of cash and bullion on hand at the end of the quarter was A$206.5 million, (US$147.4 million) including cash of A$167.0 million (US$119.3 million) and 14,925 ounces of bullion on hand, valued at A$39.4 million (US$28.2 million). This equated to a decrease of US$16.2 million in cash and bullion or A$31.0 million in AUD terms.

Perseus maintained the total amount drawn under our revolving corporate cash advance facility, at US$150 million to provide maximum operational flexibility while managing the COVID-19 crisis.

As a result of the above, Perseus’s net debt position at the end of the quarter was US$2.6 million (Refer to Figure 1 below) which was US$16.2 million less than the balance at the end of the June 2020 quarter, largely as a result of increased capital expenditure on the Yaouré project development during the period, totalling US$35.6 million.

Figure 1: Quarterly balance of cash and bullion, interest-bearing liabilities and net cash and bullion

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The overall movement in cash and bullion during the quarter as shown below in Figure 2 takes account of the positive operating margins from both the Edikan (A$20.6 million) and Sissingué (A$39.7 million) operations, working capital outflow (A$8.9 million), Australian and West African corporate costs (A$3.4 million), organic growth (A$6.6 million), debt service (A$5.5 million), Yaouré development (A$49.8 million), foreign exchange loss on cash and bullion (A$6.7 million), Ghana income tax instalment (A$12.2 million), net cash inflow on acquisition of Exore Resources Limited (A$2.0).

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At 30 September 2020, Perseus’s working capital totalled A$234.3 million, an decrease of A$15.5 million relative to the 30 June 2020 balance (A$249.8 million), largely as a result of the strengthening AUD against the USD.

Figure 2: Quarterly cash and bullion movements

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Gold Price Hedging

At the end of the quarter, gold forward sales contracts were in place for 215,277 ounces of gold at a weighted average sales price of US$1,434 per ounce. These hedges are designated for delivery progressively over the period up to 30 June 2022. Perseus also held spot deferred sales contracts for a further 95,300 ounces of gold at an average sales price of US$1,586 per ounce. Combining both sets of sales contracts, Perseus’s total hedged position at the end of the quarter was 310,577 ounces at a weighted average sales price of US$1,481 per ounce.

Hedging contracts provide downside price protection to approximately 20% of Perseus’s currently forecast gold production for the next three years, while 80% of forecast production is potentially exposed to movements in the gold price.

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OPERATIONS

Notwithstanding challenges associated with the COVID-19 pandemic and a very intense wet season in Côte d’Ivoire, Perseus’s two operating gold mines, namely Edikan in Ghana and Sissingué in Côte d’Ivoire, once again performed strongly in the September 2020 quarter, producing a combined total of 68,772 ounces of gold compared to 64,676 ounces in the prior quarter. Gold sales totalled 60,441 ounces, 17,586 ounces or 23% less than last quarter (during which sales were abnormally high due to a deferral of sales in the prior quarter) and a weighted average sales price of US$1,595 per ounce was achieved, US$51 per ounce more than in the June 2020 quarter.

The Group’s combined AISC for the quarter of US$964 per ounce of gold produced was 3% above the AISC for the previous quarter, reflecting the impact of the improved period-on-period gold production, offset by higher royalties resulting from higher gold prices as well additional costs associated with measures to ensure business continuity during the COVID-19 crisis.

Perseus’s average cash margin for the quarter was US$631 per ounce, approximately US$22 per ounce more than during the June 2020 quarter, resulting in notional cashflow from operations of US$43.1 million, 8% or approximately US$3.1 million more than in the prior period, largely due to the increased selling price of gold as well as higher gold production.

Sissingué Gold Mine, Côte d’Ivoire

Notwithstanding the intense wet season in northern Côte d’Ivoire during which 937 mm of rain fell at Sissingué during the September 2020 quarter, the mine produced 29,087 ounces of gold at a production cost of US$493 per ounce and an AISC of US$587 per ounce. The weighted average sales price of gold was US$1,562 per ounce giving rise to a cash margin of US$975 per ounce. Notional cashflow generated from operations for the quarter amounted to US$28.4 million. Table 2 below summarises the key technical and financial parameters achieved at Sissingué during the September 2020 quarter, as well as in prior periods.

Gold production for the quarter was 24% more than in the June 2020 quarter. Run time was 96%, up from 94% in the prior quarter and the gold recovery rate was 93%, down from 96% in the prior quarter reflecting a planned increase in the proportion of fresh ore milled. As mining pushed deeper into the Sissingué pit, the weighted average head grade of ore processed improved significantly from 2.42g/t last quarter to 2.62 g/t this quarter. The mill throughput rate of 176 tph was up from 153 tph achieved in the prior period, reflecting a 1:1 mill feed blend ratio of fresh ore to oxide ore and a higher mill power draw. This improved throughput rate resulted in the quantity of ore processed being 370,397 tonnes, or 18% above the tonnage processed in the prior quarter.

Unit production costs for the quarter at US$493 per ounce were 21% lower than in the prior period largely due to the higher gold production, offset by some higher input costs. Unit mining costs at US$5.99 per tonne moved were 28% higher than in the previous period due largely to a 32% reduction in the tonnes of material mined as very heavy rainfall interrupted mining activities during the quarter.

Processing costs at US$15.25 per tonne were 11% lower than the prior period reflecting an 18% increase in tonnes of ore processed during the quarter. G&A costs (US$1.08 million per month) were also marginally higher than in the prior quarter due to costs associated with COVID-19, including additional transport costs, meals, accommodation, and incentive payments.

AISCs at US$587 per ounce were 20% lower than the AISC of US$734 per ounce recorded in the prior period. As noted, production costs were 21% lower than the prior period and sustaining capital was lower (US$6 per ounce compared to US$33 per ounce), but royalties were higher at US$88 per ounce compared to US$75 per ounce in the prior quarter, reflecting a higher gold price received and the timing of sales.

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Table 2: Sissingué Quarterly Performance Statistics

Parameter Unit	March 2020 Quarter	June 2020 Quarter	September 2020 Quarter	Calendar Year 2020 to date
Gold Production & Sales Total material mined: tonnes Total ore mined tonnes Average ore grade mined g/t gold Strip ratio t:t Ore milled Tonnes Milled head grade g/t gold Gold recovery % Gold produced ounces Gold sales1 ounces Average sales price US$/ounce Unit Costs3 Mining cost US$/t mined Processing cost US$/t milled G & A cost US$M/month All-In Site Cost Production cost US$/ounce Royalties US$/ounce Sub-total US$/ounce Sustaining capital US$/ounce Total All-In Site Cost US$/ounce	1,831,615 466,994 1.75 2.9 370,060 1.76 95.2 19,964 21,790 1,454 3.59 12.03 0.89 685 66 751 30 781	1,334,070 367,102 2.25 2.6 314,468 2.42 95.8 23,395 26,859 1,575 4.68 17.05 1.02 626 75 701 33 734		4,079,501 1,291,558 2.12 2.2 1,054,924 2.26 94.6 72,446 68,947 1,533 4.48 14.66 1.00 589 78 667 21 688 2.45
			913,816
			457,462
			2.38
			1.0
			370,396
			2.62
			93.4
			29,087
			20,298
			1,562
			5.99
			15.25
			1.08
			493
			88
			581
			6
			587
Site Exploration Cost US$M	0.61	1.41	0.43

Notes:

1. Gold sales are recognised in Perseus’s accounts when gold is delivered to the customer from Perseus’s metal account.

Mineral Resource model to mill reconciliations

The reconciliation of processed ore tonnes, grade and contained ounces relative to the Mineral Resource block model on which mine plans are based (Refer to Table 3 below) has improved during the last 3 months with 7% more tonnes at 7% higher grade being produced compared to the Mineral Resource model. This reverses the trend seen over the last 2 quarters. On a life of mine to date basis, Sissingué has produced 6% more tonnes of ore at a grade that is 96% of that predicted in the Mineral Resource model, for slightly more contained ounces of gold than predicted.

Table 3: Sissingué Block Model to Mill Reconciliation Statistics:

Parameter	Block Model to Mill Correlation Factor	Block Model to Mill Correlation Factor	Block Model to Mill Correlation Factor
	3 Months	6 Months	Life of Mine
Tonnes of Ore Head Grade Contained Gold	1.07 1.07 1.14	0.96 1.01 0.97	1.06 0.96 1.02

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Licencing of Fimbiasso

During the quarter, discussions continued with the Ivorian Ministry of Mines and Geology on the granting of the Exploitation Permit required to mine the Fimbiasso Ore Reserves that are located within trucking distance of the Sissingué mill but outside of the Sissingué Exploitation Permit area. The matter was considered by the Council of Ministers (CIM) and we understand that in October 2020, the CIM resolved to recommend granting of the Exploitation Permit for the Fimbiasso deposit.

Under Sissingué’s current Life of Mine Plan, Fimbiasso ore is scheduled to be mined and hauled to the Sissingué mill for processing towards the end of the mine life. In anticipation of the granting of the Exploitation Permit for Fimbiasso, work on the upgrade of the public road between Sissingué and Fimbiasso started during the quarter.

Completion of the acquisition of Exore Resources Limited

During the quarter, the scheme of arrangement designed to combine Perseus and Exore Resources Limited was successfully completed resulting in Perseus gaining ownership of approximately 2,000 square kilometres of geologically prospective land in northern Côte d’Ivoire, close to our operating Sissingué Gold Mine.

Sissingué currently has a mine life of three years from 1 July 2020. With the acquisition of this land package, including the defined Mineral Resources at the Bagoé Project, Perseus will be able to either develop the Bagoé Project into a new gold mine potentially relocating the Sissingué plant, or alternatively, delineate further Mineral Resources at Bagoé that can be economically mined and trucked to the Sissingué facility for processing.

During the quarter, plans were developed to undertake additional resource definition drilling and metallurgical testing of the Bagoé Project as a precursor to preparing a feasibility study for potentially mining and processing the deposit. A scoping study which is a prerequisite for preparing an Environmental and Social Impact Assessment was completed and submitted to the relevant authority, ANDE, for approval. ANDE completed a site visit at the end of the quarter after which work on the ESIA was started. Drilling is expected to start in midOctober, with completion by the end of December 2020. The Feasibility Study is expected to be completed by the end of the March 2021 quarter.

Edikan Gold Mine, Ghana

Performance at Edikan during the September 2020 quarter was in line with the prior quarter and reasonably in line with expectations.

During the September 2020 quarter, Perseus produced 39,685 ounces of gold at Edikan at a production cost of US$1,065 per ounce and an AISC of US$1,240 per ounce. Gold sales totalled 40,143 ounces at a weighted average gold sales price of US$1,611 per ounce, giving rise to a cash margin of US$371 per ounce. Notional cashflow generated from Edikan during the quarter was US$14.7 million. Table 4 below summarises the key technical and financial results achieved at Edikan during the September 2020 quarter, as well as in prior periods.

At 90%, mill run time was the same as in the June 2020 quarter. At 0.96g/t, the weighted average head grade of ore treated during the quarter was lower than the prior quarter’s head grade of 1.06 g/t, but well above budgeted head grade for the period. The gold recovery rate, at 73.9% for the quarter, was marginally below the previous quarter’s recovery rate of 75.9% reflecting the blend of material types and head grade of ore in the mill feed. The throughput rate achieved this quarter of 872 tph compared favourably to 819 tph in the prior period, reflecting the replacement in the mill feed of hard ore from the Fetish Pit with slightly softer ore from the ROM stockpile and the Esuajah North low grade stockpile and continued optimisation of blast fragmentation as part of a broader mine to mill improvement initiative.

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Production costs for the quarter at US$1,065 per ounce were 18% higher than the prior period predominantly reflecting 16% more tonnes of material mined and 8% more tonnes of ore milled at a lower grade and slightly lower recovery compared to the prior period. Unit mining costs at US$3.09 per tonne were in line with the US$3.08 per tonne mined in the prior period. Mining costs reflected higher drill and blast and haulage costs due to more tonnes mined, offset slightly by savings on fuel prices. Processing costs at $8.97 per tonne were higher than the prior period’s US$8.43 per tonne largely due to discounted power costs that applied in the June quarter in response to the COVID-19 crisis in the prior quarter being discontinued. G&A costs at US$1.56 per month were slightly lower than US$1.63 per month in the June quarter. September quarter G&A costs included costs associated with measures taken to combat COVID-19, including additional transport costs, meals, accommodation and incentive payments although these were slightly lower than in the prior period.

The quarterly AISC at US$1,240 per ounce was US$191 per ounce more than in the prior period due to 7% higher royalty charges resulting from higher realised gold price (US$1,611 per ounce compared to US$1,528 per ounce), but more importantly due to a 64% increase in sustaining capital – the result of one off decisions to purchase a new crane to avoid a continuation of the very high crane rental costs that are incurred during regular maintenance shutdowns and the purchase of a spare girth gear as a mitigant against the possibility of catastrophic failure of the mill girth gear resulting in a significant interruption to the milling operation.

Table 4: Edikan Quarterly Performance Statistics:

Parameter	Unit	March 2020 Quarter	June 2020 Quarter	September 2020 Quarter	Calendar Year 2020 to date
Gold Production & Sales Total material mined: Tonnes Total ore mined Tonnes Average ore grade mined g/t gold Strip ratio t:t Ore milled Tonnes Milled head grade g/t gold Gold recovery % Gold produced ounces Gold sales1 ounces Average sales price US$/ounce Unit Costs Mining cost US$/t mined Processing cost US$/t milled G & A cost US$M/month All-In Site Costs Production cost US$/ounce Royalties US$/ounce Sub-total US$/ounce Sustaining capital US$/ounce Total All-In Site Cost US$/ounce		6,359,926 1,234,412 1.28 4.2 1,764,679 1.08 61.1 38,019 38,225 1,512 3.24 8.75 1.79 1,090 102 1,192 50 1,242	6,161,900 1,276,734 1.27 3.8 1,601,118 1.06 75.9 41,281 51,168 1,528 3.08 8.43 1.63 906 104 1,010 39 1,049		19,670,336 3,487,134 1.28 4.6 5,099,520 1.03 70.3% 118,985 129,536 1,549 3.14 8.72 1.66 1,018 106 1,124 51 1,174 1.87
				7,148,510
				975,988
				1.29
				6.3
				1,733,723
				0.96
				73.9
				39,685
				40,143
				1,611
				3.09
				8.97
				1.56
				1,065
				111
				1,176
				64
				1,240
Site Exploration Cost US$M		0.55	0.65	0.67

Notes:

Gold sales are recognised in Perseus’s accounts when gold is delivered to the customer from Perseus’s metal account

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Mineral Resource model to mill reconciliations

A review of the reconciliation of processed tonnes and grade of ore relative to the Mineral Resource block model on which mine plans are based, showed that reconciliations in the last three months have been strongly positive in terms of contained metal. The overall position for the last twelve months is similarly positive as shown below in Table 5 .

Table 5: Edikan Block Model to Mill Reconciliation Statistics:

Parameter	Block Model to Mill Correlation Factor	Block Model to Mill Correlation Factor	Block Model to Mill Correlation Factor
	3 Months	6 Months	12 months
Tonnes of Ore Head Grade	1.12 0.95	1.14 0.97	1.15 0.95 1.09
Contained Gold	1.07	1.10

Esuajah South (ESS) Underground Development Project

The planned implementation of the Esuajah South Underground Project progressed on several fronts during the quarter.

Relocation of residents from the project area that began in June 2020 was largely completed during the quarter and relocation of all remaining residents is expected to be completed in the December 2020 quarter. Offers were received from four mining contractors in response to a request for tenders for mining services for both the exploration and production phases of the project. These offers are being carefully analysed taking current labour hire requirements in Ghana into account and a decision on a preferred mining contractor will be made as soon as possible. Based on results from further geotechnical drilling during the quarter, the location of the box cut, portal and decline was changed to reflect the revised understanding of the weathering profile. This required additional analysis of tenders that were received from prospective contractors earlier in the quarter. Infill Mineral Resource drilling also commenced and was completed by mid-October 2020. When received, drill results from this programme will be added to the existing drill database and a revised estimate of Mineral Resources will be prepared. Final mining and capital costs will then be used to update the Esuajah South Ore Reserve. A decision on the final way forward for the project will be taken when all relevant information is to hand.

Yaouré Gold Mine, Côte d’Ivoire

OPERATIONS READINESS

Considerable progress has been made during the quarter in preparation for a seamless transition from development activities at Yaouré to full scale operations late in the December 2020 quarter. Key operational readiness activities included:

Recruitment

By the end of the quarter, recruitment of both the expatriate and the local workforce (a majority of whom have been recruited from local communities) was running to plan. On-boarding of most of the mining team was completed during the quarter, allowing pre-operational mining work to start at Yaouré.

Training

Documentation in the English language of training procedures is well advanced and translation of documents into French and local languages is underway ready for the start of operations. Where practical, existing procedures and systems used elsewhere in the Perseus group are being adapted for use at Yaouré, thereby ensuring a degree of conformance and transferability across all of Perseus’s operations. Plant supervisors commenced training for work at Yaouré by spending time at the Sissingué plant, while operator training is expected to start on site at Yaouré in mid-October 2020.

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Permits / Consumable & Spare parts

Work has continued to ensure that all operating permits are in place at the time of start-up of operations. Orders for all critical and routine spares for the plant are on schedule, although some minor delays have been indicated for some minor items. At this stage we do not see these minor delays impacting the start-up of operations. Development of maintenance planning systems is well advanced in readiness for implementation when the Yaouré plant is commissioned. Preventative maintenance work orders are being put in place to enable preventive maintenance work to begin from day one of operations.

Support Contracts

Most of the support contracts required during operations are either in place, well advanced and/or signed off ready for operations. The last major contracts remaining to be finalised include contracts for the supply of explosives and the loading of blast holes within the pit. A contract has been awarded for assay laboratory services however, to mitigate any possible delay in the construction of the assay lab and the supply of the laboratory equipment, a short-term contingency plan involving the use of an existing laboratory in Yamoussoukro until such time the site laboratory is fully operational will be developed.

PRE-OPERATIONS MINE PRODUCTION

Mining contractor, EPSA, continued establishment activities on-site at Yaouré during the quarter and approximately 60% of EPSA’s fleet was on site by quarter end with the remainder customs cleared in the port of Abidjan. Waste dump topsoil clearing and haul road construction commenced during the quarter allowing EPSA to commence backfill waste removal from the CMA pit in September 2020.

Other activities started by EPSA during the quarter included grubbing and clearing, topsoil removal, pre-strip and cartage of material from the decommissioned heap leach pads to the ROM in preparation for mill commissioning activities. This initial work by EPSA has enabled them to undertake training of their operators prior to the start of full-scale mining operations that is scheduled in the December 2020 quarter. Meanwhile, grade control drilling programmes started in mid-August 2020 and are progressing on schedule. Grade control drilling was completed in the CMA Stage 1 and ROM SE pit and was in progress at the Y3 and Y2N pits at quarter-end. Grade control planning was in progress for the Angovia 2 pit. When assay results are received, grade control models will be completed for all the areas ahead of process plant commissioning.

Perseus Group Production and Cost Guidance

Production and cost guidance for the December 2020 Half Year remains unchanged as follows:

Table 6: Production and Cost Guidance:

Parameter	Unit September 2020 Quarter(Actual) December 2020 Half Year	Unit September 2020 Quarter(Actual) December 2020 Half Year	Unit September 2020 Quarter(Actual) December 2020 Half Year	2020 Calendar Year
Edikan Gold Mine Gold production All-In Site Cost (AISC) Sissingué Gold Mine Gold production All-In Site Cost (AISC) Yaouré Gold Mine Gold production All-In Site Cost (AISC)	‘000 Ounces US$/ounce ‘000 Ounces US$/ounce ‘000 Ounces US$/ounce	39,685 1,240 29,086 587 - -		157,000 - 162,000 1,150-1,250 91,500-100,000 670-725 - -
			77,500-82,500
			1,150-1,250
			48,000-56,500
			600-700
			-
			-
Perseus Group Gold production All-In Site Cost (AISC)	‘000 Ounces US$/ounce	68,772 964		248,000-261,500 975-1,025
			125,500 -139,000
			940-1,025

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DEVELOPMENT

Yaouré Gold Project, Côte d’Ivoire

Once again, excellent progress has been made on all fronts at the Yaouré Gold Mine development project in Côte d’Ivoire during the quarter. Costs are currently tracking under budget and overall development of Yaouré was 85% complete and in line with schedule expectations at the end of the quarter. Works required to enable the first pour of gold at Yaouré by the stretch target date of late December 2020 are on schedule. When commissioned, Yaouré will become Perseus’s third gold mine.

Refer to Appendix A for a photographic record of on-site works at the end of the quarter or visit our website www.perseusmining.com for recent video footage of construction activities.

Occupational Health and Safety

During the quarter, nearly 1,205,010 hours were worked by the approximately 1,750 direct and indirect employees currently engaged on the Yaouré development project. Other notable safety statistics for both the quarter and the project to date are as follows:

Table 7: Yaouré OH&S Statistics:

Safety Metrics	September 2020 Quarter	September 2020 Quarter	September 2020 Quarter		Project to Date1	Project to Date1
	Perseus	Contractors	Combined	Perseus	Contractors	Combined
Hours worked	215,540	1,060,644	1,276,184	694,710	3,394,194	4,088,904
First Aid Injury (FAI)	0	5	5	7	22	29
Medical Treatment Injury (MTI)	1	1	2	2	4	6
Lost Time Injury (LTI)	1	0	1	1	0	1
Restricted work Injury (RWI)	0	1	1	1	3	4

1 Project start date 6 May 2019

Construction Schedule

Full scale construction of the processing facilities and associated infrastructure which began in October 2019 has continued generally in accordance with schedule during the quarter. These works included:

• In the processing plant site area significant progress was made during the quarter with construction of the process plant and associated works 89% complete by quarter end. The decant and tailings line is nearing completion and the river water line is completed. The front end (crusher and CV001 including overhang conveyor) is nearing completion and the crusher switch room will be energised early next quarter. Both the SAG and Ball mills were installed, as were the ancillary equipment such as gear boxes and motors. Liners are currently being inserted following the end of the quarter. CIL tanks were completed with all top of tank steel installed. The gantry crane was also lifted into place towards the end of the quarter.

• Process Plant Buildings & Infrastructure – Focus shifted during the quarter onto construction of both the high security and low security buildings. Lock up and handover stage was completed on the warehouse office, mine technical office and the high security administration building by quarter end. All other buildings were at various stages of completion and are expected to be handed over early in the December quarter.

• Emergency Power Generation – The new generator arrived on site and was installed during the quarter along with a surplus generator number from Sissingué. Commissioning and synchronisation of the generators will be finalised early in the December quarter.

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• Permanent Power – The 90kV powerline section of the work package was completed during the quarter. The Yaouré substation was nearing completion at the end of the quarter. Following the end of the quarter, this work was completed and the Kossou substation was tied into the system paving the way for the permanent power system to be energised in preparation for full commissioning of the plant.

• Major Earthworks (ROM Pad, Coarse Ore Stockpile (COS) Back Fill, Magazine, Magazine Administration & 11kV Power Line Access) – The ROM pad was completed to the design relative level during the period with only the laterite wear course and water run off grading to be completed. The COS was also completed as designed and ready to accept the first crushed ore. The magazine administration area bulk earthworks are complete, only drainage, compaction and final trim is required. Significant earthworks are required for the Magazine area. Clear and grub works were finished during the period. Significant earthworks were also completed for the 11kV power reticulation.

• River Abstraction Water Supply – Significant earthworks and rock breaking required to achieve the correct in take level were completed during the period. The site was fenced and handed over to the contractor for pump and pipe installation.

• Tailings Storage Facility (TSF) – The final laying of the HDPE liner for the TSF was completed following the end of the quarter. At the end of the quarter, the spillway was 4m below the final level of 282.5m and overall construction of the TSF was 92% complete at quarter end.

• Camp accommodation was completed during the quarter and is now at capacity. Camp service buildings including the Senior Dry Mess, Junior Dry Mess, Gym, Laundry and Camp Maintenance workshop were also completed. All drainage and lighting were also installed. The Wet Mess decking and some verandas are currently outstanding.

Financial Status of the Yaouré Development Project

Expenditure on the Yaouré development, at 30 September 2020 was as shown below in Table 8 .

Table 8: Yaouré Development Project - Financial Status

Development Budget	Forecast Final Cost	Commitments Entered	Commitments Entered	Expenses Incurred	Expenses Incurred	Cash paid	Cash paid
		Amount	%2	Amount	%2	Amount	%2
265.0	265.0	222.7	84	204.6	77	191.4	72

Note: 1. All $ amounts shown are in USD million . 2. Represents percentage of Development Budget

Community Relations

Finalisation of land compensation is moving more slowly than anticipated. This process has some distance to run before it is resolved and it is expected that the Ivorian government will become involved in the matter as the final land compensation rate to be paid has national consequences for land acquisition in both the mining and agriculture industries as well as general land resumption for industrial purposes. In the meantime, access to the site has been provided to Perseus pending finalisation of the land compensation rates. Compensation for sacred sites was completed in the September 2020 quarter and compensation for crops is close to finalisation pending only the provision of identification and bank details by a small group of farmers.

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EXPLORATION

Côte d’Ivoire Exploration

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Sissingué Exploitation Permit

Exploration at Sissingué during the quarter involved air core (“AC”) drilling at the Kakolo prospect and diamond drilling (“DD”) at the Tiana prospect ( Appendix B – Figure 1 ).

At the Kakolo prospect near Kanakono, 1,726 metres was drilled in 33 AC holes targeting extensive artisanal workings and gold-in-soil anomalism ( Appendix B – Figure 2 ). Assays from this recent drilling remain pending, but results were received from AC drilling completed at Kakolo in the previous quarter, with better intercepts tabulated below:

Table 9: Kakolo Significant Intersections

BHID	From(m)	To(m)	Gold Intercept
KAC0598	68	71	3m @ 2.16 g/t
KAC0599 KAC0604 KAC0604 KAC0605 KAC0606 KAC0607	44 4 28 8 0 52	59 8 71 12 4 54	15m @ 1.37 g/t 4m @ 1.23 g/t 43m @ 1.96 g/t 4m @ 1.29 g/t 4m @ 2.20g/t 2m @ 3.90g/t

Full details of the Kakolo drilling, including all assays received to date, are provided in Appendix B - Table 1 . At the Tiana prospect, located 3 kilometres southwest of the previously drilled Cashew Farm prospect, 119 metres was drilled in diamond drillhole TNDD0001. TNDD0001 is designed to twin a spectacular two metre intersection of 3,297 grams per tonne gold in TNRC0028 reported in the previous quarter. Drilling is ongoing, with results expected in the next quarter.

Mahalé Exploration Permit

Results were received from 24 RC holes drilled at Fimbiasso West in the previous quarter. Although mineralisation was intersected at the predicted depths in almost every hole, grades were in general low. Better results from this drilling are tabulated below:

Table 10: Fimbiasso West Significant Intersections

BHID	From(m)	To(m)	Gold Intercept
MHLC0188	46	52	6m@3.71g/t
MHLC0190	110	114	4m @ 3.49g/t
MHLC0194	66	76	10m @ 1.15g/t
MHLC0198	12	14	2m @ 4.32g/t
MHLC0208	44	50	6m @ 2.55g/t

A subsequent evaluation concluded that the additional drilling will not extend the Fimbiasso West pits at current gold prices. Complete results from this program are reported in Appendix B - Table 2 .

Yaouré Exploration Permits

Exploration activities on the Yaouré permits during the quarter included AC, RC and diamond drilling at Sayikro, Allekran and the CMA-VC Basin contact ( Appendix B – Figure 3 ) . In addition, processing and interpretation of data from the 2D and 3D seismic surveys over the CMA deposit and environs commenced.

Drilling at Sayikro was undertaken to follow up strong gold-in-auger anomalies generated by work during 2018 that subsequently attracted intense artisanal mining activity ( Appendix B – Figures 4 & 5 ) . During the Quarter 3,241 metres were drilled in 25 RC holes and 391 metres in one diamond hole. The drilling encountered sporadic high-grade vein-associated mineralisation in basalts that are flanked to the east by a granite intrusive, which is itself mineralised. Better intercepts are tabulated below:

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Table 11: Sayikro Significant Intersections

BHID	From(m)	To(m)	Gold Intercept
YDD0557	84	88	4m@2.7g/t
YDD0562	270	275	5m @ 4.58g/t
YRC1391	52	55	3m @ 16.93g/t
YRC1394	2	6	4m @ 1.91g/t
YRC1402	47	51	4m @ 1.93g/t
YRC1403	101	105	4m @ 3.36g/t
YRC1408	33	36	3m @ 1.98g/t
YRC1409	72	73	1m @ 5.23g/t
YRC1410	12	13	1m @ 16.49g/t
	78	82	4m @ 1.52g/t
YRC1417	44	45	1m @ 37.86g/t
	118	121	3m @ 182.94g/t
	129	131	2m @ 2.87g/t

The current interpretation is that the basalt-hosted mineralisation (the target of intense artisanal activity) lies within the confluence of several Y structures, whilst the granite-hosted mineralisation lies on the extension of the CMA-South structure, with possible focussing along the granite-basalt contact. Current resource drilling of the adjacent CMA-South structure may help elucidate the structural setting at Sayikro.

AC drilling commenced at Allekran with 9,842 metres drilled in 198 holes ( Appendix B – Figure 6 ) . The drilling follows up high-tenor auger anomalies straddling the contact zone between a major intrusive body and mafic volcanics, with associated alluvial and eluvial artisanal workings. The AC drilling returned encouraging results, as tabulated below:

Table 12: Allekran Aircore Drilling Significant Intersections

BHID	From(m)	To(m)	Gold Intercept
YAC1677	20	24	4m @ 1.92 g/t
YAC1681	0	4	4m @ 10.84 g/t
YAC1685	20	24	4m @ 1.31 g/t
YAC1691	8	12	4m @ 28.97 g/t
YAC1705	4	8	4m @ 1.35 g/t
YAC1710	8	12	4m @ 3.05 g/t
YAC1713	4	8	4m @ 3.04 g/t
YAC1737	8	16	8m @ 1.20 g/t
YAC1758	4	8	4m @ 2.00 g/t
YAC1771	2	4	2m @ 1.69 g/t
YAC1781	8	16	8m @ 1.56 g/t

Despite the sporadic and nuggety distribution of the intercepts, preliminary interpretation suggests sub-parallel N-S trending mineralized structures developed in mostly mafic volcanics, with the adjacent intrusive potentially providing an additional focus for mineralisation.

In addition to the above, drilling of the CMA-Volcaniclastic Basin (VCB) contact NW of the Yaouré plant site continued, with 1,196 metres drilled in four DD holes. The contact between the volcano-sediments and the basalts displays a deformed and silicified zone encountered in all holes, with subsidiary splays developed within the VCB itself. Better intercepts from these holes are tabulated below:

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Table 13: CMA-NW / VCB Contact Significant Intersections

BHID	From(m)	To(m)	Gold Intercept
YDD0558	6	10	4m @ 2.41g/t
	329	331	2m @ 3.99g/t
YDD0559	290	293	3m @ 1.57g/t
	401	408	7m @ 1.45g/t
YDD0560	264.60	266.75	2.15m @ 1.8g/t
	284	292	8m @ 1.69g/t

In YDD0560, gold was intersected both at the VCB contact and within basalts in the interpreted northern extension of the Y2 structure. The intercept at the VCB contact below 284 metres occurred in an 8m-thick CMAstyle sheared zone with silica, carbonate and sulphide alteration.

Although the concept of CMA- and Y-structures continuing to the northwest of the main mineralised centre has been demonstrated this is not regarded as a high-priority target for further drilling.

Complete results for the Yaouré drilling discussed above are presented in Appendix B – Table 3.

Processing and interpretation of data from the Yaouré 2D & 3D seismic program advanced significantly during the quarter, with numerous previously unknown geological features emerging from the data with potentially significant implications for gold mineralisation. Notable amongst these are the clear continuation of the CMA thrust at depth; the presence of numerous other CMA- or Y-like features, particularly in the hanging wall (east) of the CMA thrust; the presence of potential (west-dipping) back-thrusts, and; the presence of a major and previously unknown intrusive body at depth – a possible thermal and fluid driver for the Yaouré system ( Appendix B – Figure 7 ).

Bagoé Exploration Permit

Preparations are well underway for the commencement of an 11,720-metre resource drilling program at the Antoinette, Veronique and Juliette prospects on the recently acquired Bagoé permit ( Appendix B – Figure 1 .) The drilling, which will include geotechnical and metallurgical holes, will infill the current drill coverage to a nominal 25 metre by 25 metre spacing as a basis for upgrading the current resources from Inferred to Measured & Indicated. Planning has also commenced for follow-on exploration drilling at Antoinette-Juliette Gap, Brigette, Odette, Antoinette South and Veronique extensions as well as other identified targets on the Bagoé permit.

Minignan Exploration Permit

Gold and multielement assays were received for 1,120 soil and lag samples collected on a reconnaissance 800 metre x 400 metre grid covering the Company’s Minignan permit in the northwest of Côte d’Ivoire. Results define a coherent but low tenor, NNE-trending gold anomaly over a 6.5km x 1.5km area that appears coincident with the regional Banifing Shear Zone. An auger program is planned to further investigate this target.

Ghana Exploration

Exploration activities at Edikan during the quarter focused on drilling at the Mampong South target on the Nanankaw ML ( Appendix B – Figure 8 ) and the Dadieso NE prospect on the Dadieso PL.

At Mampong South, a total of 1.977 metres was drilled in seven holes, comprising 953 metres of RC plus 1,024 metres of diamond tails. The drilling targeted the southern extensions of the granite dyke system that hosts the AG-Gap and Fobinso deposits as well as the Mampong deposit, the latter lying ~1.5km to the NE. Felsic dykes were intersected in most holes, ranging from a few metres thick up to approximately 75 metres thick. Several holes contained appreciable pyrite ± arsenopyrite mineralisation accompanied by quartz veining, returning the significant intersections tabulated below and shown in Appendix B – Figures 9 & 10 :

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Table14: Mampong South Significant Intersections

BHID	From(m)	To(m)	Gold Intercept
MPRDD028	161.5	167.1	5.6m @ 2.31g/t
including	161.5	162.2	0.7m @ 13.77g/t
MPRDD029	252.9	274.2	21.30m @ 1.06g/t
	282.4	284.4	2m @ 3.31g/t
MPRDD033	106	150.2	44.20m @ 1.99g/t
	280.5	287.0	6.50m @ 1.48g/t
MPRDD034	105	121.1	16.10m @ 1.23g/t
	153.6	163.5	9.9m @ 2.40g/t
	178	196.5	18.5m @ 1.66g/t

Four RC holes were drilled for 600 metres at the Dadieso NE prospect, approximately 1km north of Dadieso village and 1.5km north of the historical Dadieso resource area. Dadieso NE was identified as a high-priority target based on an interpreted sinistral jog in the Bokitsi-Dadieso-Japa shear zone with associated intensive artisanal mining. DKRC107, targeting the main artisanal mining zone, returned the only significant results as tabled below:

Table 15: Dadieso NE Significant Intersections

BHID	From(m)	To(m)	Gold Intercept
DKRC107	100	108	8m @ 2.34g/t
	134	138	4m @ 1.70g/t
	166	180	14m @ 1.24g/t

Unlike mineralisation encountered at Bokitsi and Dadieso, the mineralisation intersected was hosted by intensely quartz-veined sediments without significant sulphides or carbonaceous material.

Complete results for the Huntado-Mampong and Dadieso NE drilling programs discussed above, including unreported drilling from the previous quarter, are presented in Appendix B – Table 4.

Agyakusu Option

Negotiations continued with the local community and farmers to commence first-pass RC drilling over the Breman granite prospect on the Agyakusu permit. An initial 3,000 metres of drilling on a 40 x 80 metre drill pattern is planned, including 500 metres of diamond drilling.

Agyakusu-DML Option

Work commenced on the Agyakusu-DML (Dompoase) property with the collection of 1,130 soil samples along the main structural corridor extending SW from the Breman prospect on the adjoining Agyakusu permit. Historical soil sampling and limited drilling identified a trend of mineralised granite dykes, and the current sampling program is designed to better define the extent and tenor of gold-in-soil anomalism along this trend as a prelude to drilling. Assays were pending at quarter end.

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Exploration Expenditure

Expenditure on exploration activities throughout West Africa during the quarter and the financial year to date is as follows:

Table 16: Exploration Expenditure – September 2020 Quarter

Region Unit September 2020 Quarter	Region Unit September 2020 Quarter	Region Unit September 2020 Quarter	Financial Year 2021
Ghana US$ million		0.7	0.7 0.4 2.9 0.0 3.3
Côte d’Ivoire
	Sissingué US$ million	0.4
	Yaouré US$ million	2.9
	Regional US$ million Sub-total US$ million	0.0
		3.3
Total West Africa US$ million		4.0	4.0

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PROGRAM FOR THE DECEMBER 2020 QUARTER

OPERATIONS

Edikan

• Produce gold at an all-in site cost in line with the recently published LOMP.

• Continue planning and implementing Continuous Improvement initiatives aimed at increasing gold production and reducing AISC.

Sissingué

• Produce gold at a total all-in site cost in line with LOMP.

• Continue planning and implementing Continuous Improvement initiatives aimed at increasing gold production and reducing AISC.

• Continue work on licencing development of the Fimbiasso deposit.

Yaouré

• Complete construction and commissioning of Yaouré in line with approved schedule and budget.

• Complete land, and crop compensation payments to affected land holders and farmers.

• Complete operations-readiness initiatives and move into full scale mining and processing of ore.

BUSINESS GROWTH

Edikan

• Continue preparations for commencing underground operations at Esuajah South in the December 2020 quarter.

• Commence drilling at the Breman prospect on the Agyakusu permit and continue follow up drilling at Mampong South.

• Commence soil sampling and mapping on the recently optioned Dompoase permit.

Sissingué

• Continue drilling at prospects located within trucking distance of the Sissingué mill including Tiana and Kanakono to identify potential for additional mill feed for the Sissingué mill.

• Commence Resource definition drilling at the Bagoé Project and commence preparation of an ESIA and feasibility study of the project.

Yaouré

• Complete diamond and RC drilling over the Sayikro, Akakro and Angovia 2 prospects on the Yaouré permit.

• Commence AC drilling over the Allekran and Degbezere prospects (Yaouré West).

• Process, analyse and interpret data from the 3D and 2D seismic surveys on the Yaouré concessions.

Other

• Continue to review both potential “bolt on” acquisition and merger opportunities to assess potential for continued corporate growth and value creation.

This market announcement was authorised for release by the Board.

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To discuss any aspect of this announcement, please contact:

Managing Director & CEO: Jeff Quartermaine at telephone +61 8 6144 1700 or email jeff.quartermaine@perseusmining.com; General Manager BD & IR: Andrew Grove at telephone +61 8 6144 1700 or email andrew.grove@perseusmining.com Media Relations: Nathan Ryan at telephone +61 4 20 582 887 or email nathan.ryan@nwrcommunications.com.au (Melbourne)

Competent Person Statement:

All production targets for Edikan, Sissingué and Yaouré referred to in this report are underpinned by estimated Ore Reserves which have been prepared by competent persons in accordance with the requirements of the JORC Code. The information in this report that relates to Esuajah North Mineral Resources estimate was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement entitled “Perseus Mining Updates Mineral Resources & Ore Reserves” released on 29 August 2018. The information in this report that relates to the Mineral Resource and Ore Reserve estimates for the Bokitsi South and AFG Gap deposits at the EGM was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement released on 26 August 2020. The information in this report that relates to the Mineral Resource and Ore Reserve estimates for the other EGM deposits (Fetish and Esuajah South Underground) was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement released on 20 February 2020 and was updated for depletion until 30 June 2020 in a market announcement released on 26 August 2020. The Company confirms that it is not aware of any new information or data that materially affect the information in those market releases and that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in “Technical Report — Central Ashanti Gold Project, Ghana” dated 30 May 2011 continue to apply.

The information in this report that relates to Mineral Resources and Ore Reserves for Sissingué was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement released on 29 October 2018 and includes an update for depletion as at 30 June 2020.The information in this report that relates to Mineral Resources and Ore Reserves for the Fimbiasso East and West deposits, previously Bélé East and West respectively, was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement released on 26 August 2020. The Company confirms that material assumptions underpinning the estimates of Mineral Resources and Ore Reserves described in those market announcements. The Company confirms that it is not aware of any new information or data that materially affect the information in these market releases and that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in “Technical Report — Sissingué Gold Project, Côte d’Ivoire” dated 29 May 2015 continue to apply.

The information in this report in relation to Yaouré Mineral Resource and Ore Reserve estimates was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement on 28 August 2019. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company further 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. The information in this report and the attachments that relates to exploration drilling results is based on, and fairly represents, information and supporting documentation prepared by Dr Douglas Jones, a Competent Person who is a Chartered Professional Geologist. Dr Jones is the Group General Manager Exploration of the Company. Dr Jones 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”). Dr Jones consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

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 Edikan Gold Mine and the Sissingué Gold Mine without any major disruption due to the COVID-19 pandemic or otherwise, development of a mine at Yaouré, 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 forward-looking 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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APPENDIX A – YAOURÉ GOLD MINE DEVELOPMENT PROJECT

Photographic record of Onsite progress to date

Recycle crushing facility, Lime silo, Reclaim and COS in background

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Crushed Ore Stockpile feed conveyor

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Process Plant including Mill Structure, and CIL tanks

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River Abstraction point

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HDPE lined Tailings Storage Facility

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90 KV powerline installation

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Yaouré substation and switch yard

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Permanent camp buildings

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APPENDIX B – EXPLORATION PROJECTS

Figure 1: Sissingué Gold Project - Regional Geology, Permits and Prospects

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Figure 2: Sissingué Gold Project - Kakolo Prospect - September Quarter AC drilling and results.

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Figure 3: Yaouré Gold Project – Exploration Targets - September Quarter

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Figure 4: Yaouré Gold Project - Sayikro Prospect - September Quarter RC & DD results.

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Figure 5: Yaouré Gold Project - Sayikro Prospect - Section 775795mN

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Figure 6: Yaouré Gold Project - Allekran Prospect - September Quarter AC results.

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Figure 7: Yaouré Gold Project – Preliminary E-W 3D Seismic Section 6170mN with Key Features. Major thrusts in mauve, known mineralisation in red, lithological reflectors (basalts, porphyries) in gold.

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Figure 8: Edikan Gold Project – Regional Geology, Tenements and Prospects.

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Figure 9: Edikan Gold Project – Huntado-Mampong Prospects - September Quarter RC & DD results.

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Figure 10: Edikan Gold Project –Mampong South Prospects - September Quarter RC & DD results.

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Table 1: Kakolo (K) & Tiana (TN) drill holes and significant assays:

Hole ID	East	North	Drill Type	Azimuth	Dip	Depth	No of samples	From	To	Width	Grade
	(mE)	(mN)		(°)	(°)	(m)		(m)	(m)	(m)	(g/t)
Kakolo
KAC0598	805761	1143939	AC	40	-55	71	1	68	71	3	2.16
KAC0599	805787	1143968	AC	40	-55	59	1	32	36	4	0.2
KAC0599	805787	1143968	AC	40	-55	59	4	44	59	15	1.37
KAC0600	805694	1143978	AC	40	-55	69	NSI
KAC0601	805724	1144001	AC	40	-55	65	NSI
KAC0602	805749	114403	AC	40	-55	71	1	60	64	4	0.31
KAC0603	805778	1144045	AC	40	-55	75	1	68	72	4	0.27
KAC0604	805837	1144012	AC	220	-55	71	1	4	8	4	1.23
	805837	1144012	AC	220	-55	71	11	28	71	43	1.96
KAC0605	805839	1144012	AC	40	-55	64	1	0	4	4	0.28
	805839	1144012	AC	40	-55	64	1	8	12	4	1.29
KAC0606	805869	1144032	AC	40	-55	56	1	0	4	4	2.2
	805869	1144032	AC	40	-55	56	1	36	40	4	0.45
KAC0607	805825	1144094	AC	220	-55	54	1	52	54	2	3.9
KAC0608	805827	1144092	AC	40	-55	53	NSI
KAC0609	805987	1143505	AC	40	-55	59	NSI
KAC0610	806015	1143522	AC	40	-55	53	NSI
KAC0611	806038	1143541	AC	40	-55	63	NSI
KAC0612	806064	1143564	AC	40	-55	33	NSI
KAC0613	806079	1143575	AC	40	-55	63	NSI
KAC0614	806105	1143601	AC	40	-55	66	NSI
KAC0615	806135	1143622	AC	40	-55	53	NSI
KAC0616	806159	1143640	AC	40	-55	63	1	36	40	4	0.46
KAC0617	806186	1143663	AC	40	-55	68	NSI
KAC0618	806217	1143684	AC	40	-55	60	NSI
KAC0619	806242	1143708	AC	40	-55	54	NSI
KAC0620	806267	1143727	AC	40	-55	59	1	16	20	4	0.2
	806267	1143727	AC	40	-55	59	1	36	40	4	0.35
KAC0621	806289	1143752	AC	40	-55	71	NSI			0
KAC0622	806322	1143773	AC	40	-55	71	NSI			0
KAC0623	806355	1143797	AC	40	-55	59	NSI			0
KAC0624	806381	1143818	AC	40	-55	65	NSI			0
KAC0625	806406	1143844	AC	40	-55	59	1	8	12	4	0.22
KAC0626	806434	1143863	AC	40	-55	71	NSI			0
KAC0627	806465	1143888	AC	40	-55	65	NSI			0
KAC0628	806497	1143907	AC	40	-55	63	NSI			0
KAC0629	806520	1143931	AC	40	-55	65	NSI			0
KAC0630	806549	1143954	AC	40	-55	59	1	28	32	4	0.25
KAC0631	806575	1143974	AC	40	-55	65	NSI			0
KAC0632	806603	1143996	AC	40	-55	71	NSI			0
KAC0633	806632	1144015	AC	40	-55	71	1	52	56	4	0.2

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KAC0634	806660	1144043	AC	40	-55	71	1	64	68	4	0.37
KAC0635	806689	1144072	AC	40	-55	59	NSI			0
KAC0636	806718	1144086	AC	40	-55	56	NSI			0
KAC0637	806740	1144105	AC	40	-55	49	1	0	4	4	0.7
KAC0638	806765	1144124	AC	40	-55	65	NSI			0
KAC0639	806789	1144150	AC	40	-55	71	NSI			0
KAC0640	806819	1144176	AC	40	-55	59	1	40	44	4	0.29
KAC0641	806840	1144191	AC	40	-55	59	1	8	12	4	0.22
KAC0642	806867	1144215	AC	40	-55	53	NSI
KAC0643	806890	1144235	AC	40	-55	50	NSI
KAC0644	806931	1144258	AC	40	-55	53	NSI
KAC0645	806954	1144278	AC	40	-55	51	NSI
KAC0646	806973	1144299	AC	40	-55	49	NSI
KAC0647	806994	1144317	AC	40	-55	53	NSI
KAC0648	807020	1144336	AC	40	-55	53	NSI
KAC0649	807050	1144365	AC	40	-55	53	NSI
KAC0650	807072	1144386	AC	40	-55	53	NSI
KAC0651	807099	1144399	AC	40	-55	53	NSI
KAC0652	805407	1144602	AC	40	-55	41	Assays Pending
KAC0653	805427	1144618	AC	40	-55	42	Assays Pending
KAC0654	805446	1144629	AC	40	-55	38	Assays Pending
KAC0655	805465	1144649	AC	40	-55	54	Assays Pending
KAC0656	805496	1144672	AC	40	-55	50	Assays Pending
KAC0657	805517	1144684	AC	40	-55	42	Assays Pending
KAC0658	805537	1144705	AC	40	-55	36	Assays Pending
KAC0659	805556	11447015	AC	40	-55	66	Assays Pending
KAC0660	805205	1144436	AC	40	-55	64	Assays Pending
KAC0661	805235	1144458	AC	40	-55	65	Assays Pending
KAC0662	805261	1144481	AC	40	-55	65	Assays Pending
KAC0663	805289	1144504	AC	40	-55	65	Assays Pending
KAC0664	805316	1144527	AC	40	-55	71	Assays Pending
KAC0665	805346	1144554	AC	40	-55	65	Assays Pending
KAC0666	805371	1144578	AC	40	-55	53	Assays Pending
KAC0667	805584	1144741	AC	40	-55	65	Assays Pending
KAC0668	805607	1144763	AC	40	-55	71	Assays Pending
KAC0669	805637	1144787	AC	40	-55	69	Assays Pending
KAC0670	805670	1144809	AC	40	-55	71	Assays

20 October 2020

Page 30

==> picture [119 x 37] intentionally omitted <==

KAC0671	805698	1144836	AC	40	-55	65	Assays Pending
KAC0672	805733	1144858	AC	40	-55	59	Assays Pending
KAC0673	805762	1144881	AC	40	-55	59	Assays Pending
KAC0674	805798	1144902	AC	40	-55	47	Assays Pending
KAC0675	805814	1144922	AC	40	-55	29	Assays Pending
KAC0676	805835	1144933	AC	40	-55	18	Assays Pending
KAC0677	805843	1144943	AC	40	-55	29	Assays Pending
KAC0678	805858	1144958	AC	40	-55	33	Assays Pending
KAC0679	805873	1144970	AC	40	-55	35	Assays Pending
KAC0680	805893	1144992	AC	40	-55	52	Assays Pending
KAC0681	805932	1145010	AC	40	-55	51	Assays Pending
KAC0682	805972	1145049	AC	40	-55	53	Assays Pending
KAC0683	805995	1145065	AC	40	-55	53	Assays Pending
KAC0684	806012	1145082	AC	40	-55	50	Assays Pending
Tiana
TNAC0090	799876	1135910	AC	250	-50	78	1	24	28	4	0.43
TNAC0091	799841	1135891	AC	250	-50	90	NSI
TNAC0092	799805	1135877	AC	250	-50	72	NSI
TNAC0093	800340	1137048	AC	250	-50	54	1	36	40	4	0.24
	800340	1137048	AC	250	-50	54	1	44	48	4	0.55
TNAC0094	800313	1137033	AC	250	-50	66	1	8	12	4	0.24
	800313	1137033	AC	250	-50	66	1	16	20	4	0.22
TNAC0095	800278	1137021	AC	250	-50	71	NSI
TNAC0096	800241	1137005	AC	250	-50	54	NSI
TNAC0097	800216	1136988	AC	250	-50	66	2	28	36	8	0.35
TNAC0098	800185	1136974	AC	250	-50	66	NSI
TNAC0099	800153	1136959	AC	250	-50	72	NSI
TNAC0100	800127	1136943	AC	250	-50	71	NSI
TNAC0101	800231	1137319	AC	250	-50	53	NSI
TNAC0102	800203	1137306	AC	250	-50	77	NSI
TNAC0103	800165	1137287	AC	250	-50	66	NSI
TNAC0104	800129	1137274	AC	250	-50	59	NSI
TNAC0105	800103	1137256	AC	250	-50	56	NSI
TNAC0106	800077	1137242	AC	250	-50	54	NSI
TNAC0107	800049	1137228	AC	250	-50	52	NSI
TNAC0108	800022	1137213	AC	250	-50	54	NSI
TNAC0109	799992	1137199	AC	250	-50	51	NSI
TNAC0110	799963	1137183	AC	250	-50	52	NSI
TNDD0001	800113	1135383	DD	250	-50	119.6	In Progress

20 October 2020

Page 31

==> picture [119 x 37] intentionally omitted <==

Table 2: Mahalé (Fimbiasso West) drill holes and significant intercepts:

Hole ID	East	North	Drill Type	Azimuth	Dip	Depth	No of samples	From	To	Width	Grade
	(mE)	(mN)		(°)	(°)	(m)		(m)	(m)	(m)	(g/t)
Fimbiasso West
MHLC0188	767584	1137079	RC	165	-55	85	6	46	52	6	3.71
	767584	1137079	RC	165	-55	85	2	56	59	3	0.26
	767584	1137079	RC	165	-55	85	1	66	68	2	0.21
MHLC0189	767546	1137223	RC	165	-55	192	1	134	136	2	0.29
	767546	1137223	RC	165	-55	192	2	144	148	4	0.26
MHLC0190	767632	1137212	RC	165	-55	144	1	46	48	2	0.22
	767632	1137212	RC	165	-55	144	1	66	68	2	0.28
	767632	1137212	RC	165	-55	144	1	74	76	2	0.36
	767632	1137212	RC	165	-55	144	1	86	88	2	0.26
	767632	1137212	RC	165	-55	144	2	110	114	4	3.49
MHLC0191	767648	1137150	RC	165	-55	108	3	10	16	6	0.5
MHLC0192	767682	1137176	RC	165	-55	115	1	36	38	2	0.2
	767682	1137176	RC	165	-55	115	2	74	78	4	0.64
MHLC0193	767715	1137211	RC	165	-55	114	1	52	54	2	0.31
	767715	1137211	RC	165	-55	114	1	66	68	2	0.36
	767715	1137211	RC	165	-55	114	6	72	84	12	0.64
MHLC0194	767743	1137230	RC	165	-55	112	1	26	28	2	0.21
	767743	1137230	RC	165	-55	112	1	30	32	2	0.27
	767743	1137230	RC	165	-55	112	2	58	62	4	0.27
	767743	1137230	RC	165	-55	112	5	66	76	10	1.15
	767743	1137230	RC	165	-55	112	5	80	90	10	0.42
MHLC0195	767634	1137054	RC	165	-55	78	1	0	2	2	0.25
	767634	1137054	RC	165	-55	78	5	14	24	10	0.69
	767634	1137054	RC	165	-55	78	1	76	78	2	0.23
MHLC0196	767775	1137302	RC	165	-55	147	1	72	74	2	0.41
	767775	1137302	RC	165	-55	147	3	84	90	6	0.32
	767775	1137302	RC	165	-55	147	1	94	96	2	0.28
	767775	1137302	RC	165	-55	147	5	100	110	10	0.63
	767775	1137302	RC	165	-55	147	2	120	124	4	0.28
MHLC0197	767804	1137342	RC	165	-55	160	1	34	36	2	0.42
	767804	1137342	RC	165	-55	160	2	74	78	4	0.57
	767804	1137342	RC	165	-55	160	1	82	84	2	1.24
	767804	1137342	RC	165	-55	160	4	88	96	8	0.55
	767804	1137342	RC	165	-55	160	3	102	108	6	0.2
	767804	1137342	RC	165	-55	160	7	116	130	14	0.48
	767804	1137342	RC	165	-55	160	2	134	138	4	0.85
MHLC0198	767789	1137244	RC	165	-55	111	1	12	14	2	4.32
MHLC0198	767789	1137244	RC	165	-55	111	1	34	36	2	0.25
	767789	1137244	RC	165	-55	111	1	44	46	2	0.31
	767789	1137244	RC	165	-55	111	11	62	84	22	0.42

20 October 2020

Page 32

==> picture [119 x 37] intentionally omitted <==

	767789	1137244	RC	165	-55	111	1	98	100	2	0.26
MHLC0199	767821	1137280	RC	165	-55	115	3	62	68	6	0.45
	767821	1137280	RC	165	-55	115	3	72	78	6	0.95
	767821	1137280	RC	165	-55	115	1	88	90	2	0.37
	767821	1137280	RC	165	-55	115	3	104	110	6	0.21
MHLC0200	767886	1137342	RC	165	-55	144	4	86	94	8	0.54
	767886	1137342	RC	165	-55	144	1	104	106	2	0.22
	767886	1137342	RC	165	-55	144	1	120	122	2	0.28
	767886	1137342	RC	165	-55	144	2	138	142	4	0.72
MHLC0201	767900	1137280	RC	165	-55	100	1	32	34	2	0.2
	767900	1137280	RC	165	-55	100	7	40	54	14	0.27
	767900	1137280	RC	165	-55	100	3	60	66	6	0.41
	767900	1137280	RC	165	-55	100	1	88	90	2	0.38
MHLC0202	767928	1137342	RC	165	-55	129	1	70	72	2	2.67
	767928	1137342	RC	165	-55	129	1	76	78	2	0.24
	767928	1137342	RC	165	-55	129	1	84	86	2	0.21
	767928	1137342	RC	165	-55	129	8	108	124	16	0.37
MHLC0203	767945	1137280	RC	165	-55	101	1	36	38	2	0.74
	767945	1137280	RC	165	-55	101	3	42	48	6	0.48
	767945	1137280	RC	165	-55	101	2	68	72	4	0.33
	767945	1137280	RC	165	-55	101	1	78	80	2	0.41
	767945	1137280	RC	165	-55	101	1	98	100	2	0.28
MHLC0204	767956	1137389	RC	165	-55	160	3	54	60	6	0.5
	767956	1137389	RC	165	-55	160	1	104	106	2	0.36
	767956	1137389	RC	165	-55	160	6	114	126	12	0.3
	767956	1137389	RC	165	-55	160	1	130	132	2	0.21
MHLC0205	767970	1137343	RC	165	-55	120	1	64	66	2	1.4
	767970	1137343	RC	165	-55	120	4	70	78	8	0.31
	767970	1137343	RC	165	-55	120	3	94	100	6	0.57
	767970	1137343	RC	165	-55	120	1	106	108	2	0.46
	767970	1137343	RC	165	-55	120	1	116	118	2	1
MHLC0206	767995	1137400	RC	165	-55	163	1	40	42	2	0.42
	767995	1137400	RC	165	-55	163	4	98	106	8	0.78
	767995	1137400	RC	165	-55	163	3	110	116	6	0.34
	767995	1137400	RC	165	-55	163	1	118	120	2	0.3
MHLC0207	768056	1137331	RC	165	-55	94	2	40	44	4	1.03
MHLC0208	768094	1137349	RC	165	-55	91	3	44	50	6	2.55
MHLC0209	768042	1137381	RC	165	-55	130	1	4	6	2	0.2
	768042	1137381	RC	165	-55	130	1	66	68	2	0.32
	768042	1137381	RC	165	-55	130	2	74	78	4	1.16
MHLC0210	768078	1137398	RC	165	-55	130	3	74	80	6	0.25
MHLC0211	768008	1137352	RC	165	-55	126	1	48	50	2	0.21
	768008	1137352	RC	165	-55	126	3	62	68	6	0.46
	768008	1137352	RC	165	-55	126	2	80	84	4	0.54

20 October 2020

Page 33

==> picture [119 x 37] intentionally omitted <==

Table 3: Yaouré drill holes and significant intercepts:

Hole ID	East	North	Drill Type	Azimuth	Dip	Depth	No of samples	From	To	Width	Grade
	(mE)	(mN)		(°)	(°)	(m)		(m)	(m)	(m)	(g/t)
Sayikro
YDD0556	220071	775891	DD	270	-60	200.5	3	0	4	4	0.21
	220071	775891	DD	270	-60	200.5	6	17	22	5	0.33
	220071	775891	DD	270	-60	200.5	4	25	29	4	0.22
	220071	775891	DD	270	-60	200.5	5	39	43	4	0.38
	220071	775891	DD	270	-60	200.5	2	100	102	2	0.37
	220071	775891	DD	270	-60	200.5	3	107.2	109.9	2.7	0.34
	220071	775891	DD	270	-60	200.5	9	117.2	126	8.8	0.34
	220071	775891	DD	270	-60	200.5	4	138	141	3	0.27
YDD0557	220456	775797	DD	270	-60	200.5	3	9	11	2	0.27
	220456	775797	DD	270	-60	200.5	6	18	23	5	0.32
	220456	775797	DD	270	-60	200.5	2	39	41	2	0.6
	220456	775797	DD	270	-60	200.5	4	53.85	56.6	2.75	0.95
	220456	775797	DD	270	-60	200.5	7	73	80	7	0.31
	220456	775797	DD	270	-60	200.5	4	84	88	4	2.7
	220456	775797	DD	270	-60	200.5	4	96	100	4	0.74
YDD0562	220642	775797	DD	270	-60	390.5	5	18	27	9	0.58
	220642	775797	DD	270	-60	390.5	4	104.5	107.7	3.2	0.28
	220642	775797	DD	270	-60	390.5	5	124	128	4	0.26
	220642	775797	DD	270	-60	390.5	5	176	180	4	0.27
	220642	775797	DD	270	-60	390.5	6	270	275	5	4.58
	220642	775797	DD	270	-60	390.5	14	294	305	11	0.3
	220642	775797	DD	270	-60	390.5	3	311	313	2	1.07
	220642	775797	DD	270	-60	390.5	1	114	115	1	0.47
	220642	775797	DD	270	-60	390.5	1	144	145	1	0.32
	220642	775797	DD	270	-60	390.5	1	189	190	1	1.19
	220642	775797	DD	270	-60	390.5	1	216	217	1	0.32
	220642	775797	DD	270	-60	390.5	1	220	221	1	0.3
	220642	775797	DD	270	-60	390.5	1	289	290	1	0.41
	220642	775797	DD	270	-60	390.5	1	304	305	1	0.43
	220642	775797	DD	270	-60	390.5	1	384	385	1	0.4
YRC1391	219973	775704	RC	270	-60	66	3	32	35	3	0.42
	219973	775704	RC	270	-60	66	3	52	55	3	16.93
	219973	775704	RC	270	-60	66	1	62	64	2	0.5
YRC1392	219940	775700	RC	270	-60	121	1	2	4	2	0.24
	219940	775700	RC	270	-60	121	1	25	27	2	0.33
	219940	775700	RC	270	-60	121	2	94	96	2	0.79
YRC1393	219880	775700	RC	270	-60	154	1	0	2	2	0.27
	219880	775700	RC	270	-60	154	3	14	20	6	0.23
	219880	775700	RC	270	-60	154	1	26	28	2	0.45
	219880	775700	RC	270	-60	154	1	38	40	2	0.22

20 October 2020

Page 34

==> picture [119 x 37] intentionally omitted <==

	219880	775700	RC	270	-60	154	1	48	50	2	0.4
	219880	775700	RC	270	-60	154	3	58	64	6	0.7
	219880	775700	RC	270	-60	154	3	108	112	4	0.55
YRC1394	219803	775703	RC	270	-60	121	2	2	6	4	1.91
	219803	775703	RC	270	-60	121	7	10	23	13	0.72
	219803	775703	RC	270	-60	121	1	64	66	2	0.23
	219803	775703	RC	270	-60	121	3	99	102	3	0.24
	219803	775703	RC	270	-60	121	3	106	110	4	0.25
YRC1395	220433	775597	RC	270	-60	138	4	79	85	6	0.4
	220433	775597	RC	270	-60	138	1	119	121	2	0.9
YRC1396	220364	775600	RC	270	-60	136	1	3	5	2	1.7
	220364	775600	RC	270	-60	136	2	104	107	3	0.59
YRC1397	220300	775602	RC	270	-60	106	1	31	33	2	0.33
YRC1398	220247	775608	RC	270	-60	70	2	56	58	2	0.61
YRC1399	220212	775608	RC	270	-60	131	4	68	73	5	0.22
	220212	775608	RC	270	-60	131	1	89	91	2	0.21
YRC1400	220147	775584	RC	270	-60	106	2	22	24	2	0.9
	220147	775584	RC	270	-60	106	1	31	33	2	0.32
	220147	775584	RC	270	-60	106	1	102	104	2	1.39
YRC1401	220097	775594	RC	270	-60	76	NSI
YRC1402	220042	775600	RC	270	-60	73	1	0	2	2	0.2
	220042	775600	RC	270	-60	73	2	9	11	2	0.33
	220042	775600	RC	270	-60	73	3	16	22	6	0.5
	220042	775600	RC	270	-60	73	1	26	28	2	0.35
	220042	775600	RC	270	-60	73	4	47	51	4	1.93
YRC1403	220005	775597	RC	270	-60	139	1	7	9	2	0.23
	220005	775597	RC	270	-60	139	4	42	46	4	0.2
	220005	775597	RC	270	-60	139	1	59	61	2	0.23
	220005	775597	RC	270	-60	139	1	64	66	2	0.23
	220005	775597	RC	270	-60	139	2	72	74	2	0.22
	220005	775597	RC	270	-60	139	4	101	105	4	3.36
	220005	775597	RC	270	-60	139	1	109	111	2	0.36
YRC1404	219935	775597	RC	270	-60	142	2	15	19	4	0.33
	219935	775597	RC	270	-60	142	3	23	28	5	0.22
	219935	775597	RC	270	-60	142	2	88	90	2	0.49
	219935	775597	RC	270	-60	142	2	132	134	2	0.59
	219935	775597	RC	270	-60	142	1	137	139	2	0.25
YRC1405	219864	775596	RC	270	-60	124	1	4	6	2	0.42
	219864	775596	RC	270	-60	124	3	42	48	6	0.35
	219864	775596	RC	270	-60	124	7	59	66	7	0.43
	219864	775596	RC	270	-60	124	6	71	78	7	0.47
	219864	775596	RC	270	-60	124	1	91	93	2	0.26
	219864	775596	RC	270	-60	124	4	108	112	4	0.39
YRC1406	219802	775602	RC	270	-60	26	NSI

20 October 2020

Page 35

==> picture [119 x 37] intentionally omitted <==

YRC1407	219812	775603	RC	270	-60	130	1	21	23	2	0.26
	219812	775603	RC	270	-60	130	2	26	28	2	0.49
	219812	775603	RC	270	-60	130	7	44	53	9	0.27
	219812	775603	RC	270	-60	130	5	79	84	5	0.22
YRC1408	220248	775492	RC	270	-60	0	2	33	36	3	1.98
	220248	775492	RC	270	-60	0	2	95	98	3	0.53
YRC1409	220173	775498	RC	270	-60	150	1	32	34	2	0.24
YRC1410	220098	775502	RC	270	-60	134	2	78	82	4	1.52
YRC1411	220031	775500	RC	270	-60	115	6	18	27	9	0.67
	220031	775500	RC	270	-60	115	1	81	83	2	0.43
	220031	775500	RC	270	-60	115	1	87	89	2	0.27
	220031	775500	RC	270	-60	115	1	97	99	2	0.2
YRC1412	219974	775503	RC	270	-60	82	1	14	16	2	0.23
	219974	775503	RC	270	-60	82	1	24	26	2	0.25
	219974	775503	RC	270	-60	82	1	41	43	2	0.26
	219974	775503	RC	270	-60	82	3	51	57	6	0.38
	219974	775503	RC	270	-60	82	6	61	71	10	0.31
	219974	775503	RC	270	-60	82	2	79	81	2	0.54
YRC1413	219933	775500	RC	270	-60	37	2	24	28	4	0.5
YRC1414	219913	775501	RC	270	-60	150	NSI
YRC1415	220328	775998	RC	270	-60	150	1	96	98	2	0.3
	220328	775998	RC	270	-60	150	1	102	104	2	0.31
YRC1416	220250	776000	RC	270	-60	150	4	4	10	6	0.49
	220250	776000	RC	270	-60	150	3	66	72	6	0.27
	220250	776000	RC	270	-60	150	1	92	94	2	0.7
	220250	776000	RC	270	-60	150	4	114	122	8	0.32
	220250	776000	RC	270	-60	150	1	128	130	2	0.23
YRC1417	220175	775995	RC	270	-60	132	1	44	45	1	37.86
	220175	775995	RC	270	-60	132	1	76	78	2	0.24
	220175	775995	RC	270	-60	132	2	118	121	3	182.94
	220175	775995	RC	270	-60	132	1	129	131	2	2.87
YRC1418	219838	775500	RC	270	-60	150	Assays Pending
YRC1419	219763	775490	RC	270	-60	150	Assays Pending
YRC1420	220111	776003	RC	270	-60	150	Assays Pending
YRC1421	220204	775996	RC	270	-60	162	Assays Pending
YRC1422	219984	776050	RC	270	-60	150	Assays Pending
YRC1423	219904	776042	RC	270	-60	120	Assays Pending
YRC1424	220052	776020	RC	270	-60	136	Assays Pending
YRC1425	219849	776002		270	-60	150	Assays Pending
CMA Basin Contact

20 October 2020

Page 36

==> picture [119 x 37] intentionally omitted <==

YDD0558	221145	777890	DD	210	-55	400.1	4	6	10	4	2.41
	221145	777890	DD	210	-55	400.1	8	319	326	7	0.53
	221145	777890	DD	210	-55	400.1	3	329	331	2	3.99
YDD0559	221274	777906	DD	210	-55	425.1	5	9	18	9	0.89
	221274	777906	DD	210	-55	425.1	3	284	286	2	0.35
	221274	777906	DD	210	-55	425.1	3	290	293	3	1.57
	221274	777906	DD	210	-55	425.1	3	330	332	2	0.69
	221274	777906	DD	210	-55	425.1	3	376	378	2	0.51
	221274	777906	DD	210	-55	425.1	4	381	384	3	0.61
	221274	777906	DD	210	-55	425.1	4	393	395	2	0.31
	221274	777906	DD	210	-55	425.1	9	401	408	7	1.45
YDD0560	221045	777896	DD	210	-55	370	3	4.8	14.8	10	0.45
	221045	777896	DD	210	-55	370	3	264.6	266.75	2.15	1.8
	221045	777896	DD	210	-55	370	9	284	292	8	1.69
	221045	777896	DD	210	-55	370	7	301	306.1	5.1	0.44
	221045	777896	DD	210	-55	370	17	309	324	15	0.4
	221045	777896	DD	210	-55	370	2	332	334	2	0.84
	221045	777896	DD	210	-55	370	1	121	122	1	0.56
	221045	777896	DD	210	-55	370	1	185	186	1	0.68
	221045	777896	DD	210	-55	370	1	227	228	1	0.39
	221045	777896	DD	210	-55	370	1	250	251	1	0.32
	221045	777896	DD	210	-55	370	1	327	328	1	0.64
	221045	777896	DD	210	-55	370	1	341	342	1	0.37
	221045	777896	DD	210	-55	370	1	347	348	1	0.69
YDD0561	220370	778237	DD	210	-55	400.5	1	124	125	1	0.44
	220370	778237	DD	210	-55	400.5	1	240	241	1	0.77
	220370	778237	DD	210	-55	400.5	1	253.9	254.9	1	0.55
	220370	778237	DD	210	-55	400.5	5	259.35	263	3.65	0.63
	220370	778237	DD	210	-55	400.5	2	267	269	2	0.46
	220370	778237	DD	210	-55	400.5	8	289.5	295	5.5	0.65
	220370	778237	DD	210	-55	400.5	8	324	332	8	0.53
	220370	778237	DD	210	-55	400.5	4	395	399	4	0.75
Allekran
YAC1676	210274	768000	AC	270	-60	30	NSI
YAC1677	210257	768000	AC	270	-60	30	1	20	24	4	1.92
YAC1678	210243	768000	AC	270	-60	30	NSI
YAC1679	210228	767999	AC	270	-60	30	1	4	8	4	0.81
YAC1680	210213	768001	AC	270	-60	46	NSI
YAC1681	210190	768000	AC	270	-60	60	1	0	4	4	10.84
	210190	768000	AC	270	-60	60	1	56	60	4	0.51
YAC1682	210160	768000	AC	270	-60	60	NSI
YAC1683	210130	768000	AC	270	-60	58	NSI
YAC1684	210101	768000	AC	270	-60	60	NSI
YAC1685	210071	768000	AC	270	-60	58	1	20	24	4	1.31

20 October 2020

Page 37

==> picture [119 x 37] intentionally omitted <==

	210071	768000	AC	270	-60	58	1	44	48	4	0.24
YAC1686	210041	768000	AC	270	-60	60	NSI
YAC1687	210011	768000	AC	270	-60	60	NSI
YAC1688	209981	767986	AC	270	-60	60	1	4	8	4	0.42
YAC1689	209951	767985	AC	270	-60	60	2	0	8	8	0.66
YAC1690	209921	767990	AC	270	-60	60	1	24	28	4	0.43
YAC1691	209891	768000	AC	270	-60	60	1	8	12	4	28.97
YAC1692	209857	768005	AC	270	-60	48	NSI
YAC1693	209833	768005	AC	270	-60	47	1	12	16	4	0.61
YAC1694	209809	768003	AC	270	-60	60	1	0	4	4	0.25
YAC1695	209779	768007	AC	270	-60	60	1	36	40	4	0.24
YAC1696	209751	768023	AC	270	-60	60	NSI
YAC1697	209724	768096	AC	270	-60	60	NSI
YAC1698	209694	768130	AC	270	-60	60	NSI
YAC1699	209663	768170	AC	270	-60	60	NSI
YAC1700	209633	768180	AC	270	-60	60	NSI
YAC1701	209610	768180	AC	270	-60	60	NSI
YAC1702	209576	768180	AC	270	-60	50	NSI
YAC1703	209551	768185	AC	270	-60	50	NSI
YAC1704	209550	768007	AC	270	-60	84	NSI
YAC1705	209508	768000	AC	270	-60	81	1	4	8	4	1.35
YAC1706	209467	768000	AC	270	-60	76	1	36	40	4	1.03
YAC1707	209429	768000	AC	270	-60	69	NSI
YAC1708	209394	768000	AC	270	-60	67	NSI
YAC1709	209361	768000	AC	270	-60	57	NSI
YAC1710	210200	768400	AC	270	-60	50	1	8	12	4	3.05
YAC1711	210175	768400	AC	270	-60	50	NSI
YAC1712	210150	768400	AC	270	-60	50	NSI
YAC1713	210125	768400	AC	270	-60	50	1	12	16	4	3.04
YAC1714	210100	768400	AC	270	-60	50	1	8	12	4	0.74
YAC1715	210075	768400	AC	270	-60	50	NSI
YAC1716	210050	768400	AC	270	-60	50	1	32	36	4	0.28
YAC1717	210025	768400	AC	270	-60	50	1	12	16	4	0.23
	210025	768400	AC	270	-60	50	2	32	40	8	0.64
YAC1718	210000	768510	AC	270	-60	50	NSI
YAC1719	209975	768510	AC	270	-60	50	1	20	24	4	0.73
YAC1720	209950	768510	AC	270	-60	50	1	48	50	2	0.25
YAC1721	209925	768502	AC	270	-60	50	1	40	44	4	0.46
	209925	768502	AC	270	-60	50	1	48	50	2	0.2
	209900	768502	AC	270	-60	50	1	16	20	4	0.23
YAC1722	209900	768502	AC	270	-60	50	1	24	28	4	0.24
YAC1723	209875	768500	AC	270	-60	50	NSI
YAC1724	209850	768495	AC	270	-60	50	1	4	8	4	0.21
YAC1725	209825	768489	AC	270	-60	50	NSI

20 October 2020

Page 38

==> picture [119 x 37] intentionally omitted <==

YAC1726	209800	768493	AC	270	-60	50	1	44	48	4	0.26
YAC1727	209775	768490	AC	270	-60	50	NSI
YAC1728	209750	768460	AC	270	-60	50	1	4	8	4	0.4
YAC1729	209725	768400	AC	270	-60	50	NSI
YAC1730	209700	768401	AC	270	-60	50	NSI
YAC1731	209675	768400	AC	270	-60	50	NSI
YAC1732	209650	768397	AC	270	-60	34	1	24	28	4	0.84
YAC1733	209633	768395	AC	270	-60	39	NSI
YAC1734	209614	768397	AC	270	-60	47	NSI
YAC1735	209591	768400	AC	270	-60	44	NSI
YAC1736	209568	768400	AC	270	-60	50	1	0	4	4	0.26
YAC1737	209543	768400	AC	270	-60	50	2	20	28	8	1.2
YAC1738	209518	768400	AC	270	-60	50	1	0	4	4	0.38
YAC1739	209493	768404	AC	270	-60	50	NSI
YAC1740	209470	768400	AC	270	-60	50	NSI
YAC1741	209440	768396	AC	270	-60	50	1	8	12	4	0.2
YAC1742	209415	768395	AC	270	-60	41	NSI
YAC1743	209395	768400	AC	270	-60	45	1	8	12	4	0.27
YAC1744	209372	768408	AC	270	-60	42	NSI
YAC1745	209351	768407	AC	270	-60	50	NSI
YAC1746	209326	768401	AC	270	-60	63	NSI
YAC1747	209295	768400	AC	270	-60	60	NSI
YAC1748	209265	768403	AC	270	-60	66	NSI
YAC1749	209232	768400	AC	270	-60	54	NSI
YAC1750	209817	769200	AC	270	-60	50	NSI
YAC1751	209792	769200	AC	270	-60	50	NSI
YAC1752	209767	769204	AC	270	-60	50	NSI
YAC1753	209742	769209	AC	270	-60	48	NSI
YAC1754	209718	769206	AC	270	-60	50	NSI
YAC1755	209693	769204	AC	270	-60	50	NSI
YAC1756	209668	769200	AC	270	-60	50	NSI
YAC1757	209643	769204	AC	270	-60	41	NSI
YAC1758	209950	768800	AC	270	-60	49	1	36	40	4	2
YAC1759	209926	768800	AC	270	-60	50	1	48	50	2	0.23
YAC1760	209901	768803	AC	270	-60	50	1	32	36	4	0.28
YAC1761	209876	768800	AC	270	-60	50	NSI
YAC1762	209851	768800	AC	270	-60	50	NSI
YAC1763	209826	768800	AC	270	-60	50	NSI
YAC1764	209801	768805	AC	270	-60	50	NSI
YAC1765	209776	768800	AC	270	-60	50	NSI
YAC1766	209750	768800	AC	270	-60	50	NSI
YAC1767	209725	768801	AC	270	-60	50	NSI
YAC1768	209698	768800	AC	270	-60	50	1	40	44	4	0.27
YAC1769	209673	768802	AC	270	-60	50	NSI

20 October 2020

Page 39

==> picture [119 x 37] intentionally omitted <==

YAC1770	209643	768811	AC	270	-60	50	NSI
YAC1771	209616	768797	AC	270	-60	50	1	48	50	2	1.69
YAC1772	209593	768793	AC	270	-60	50	NSI
YAC1773	209568	768792	AC	270	-60	50	NSI
YAC1774	209548	768781	AC	270	-60	50	NSI
YAC1775	209518	768771	AC	270	-60	50	1	0	4	4	0.59
YAC1776	209494	768777	AC	270	-60	50	1	36	40	4	0.2
YAC1777	209469	768785	AC	270	-60	50	NSI
YAC1778	209445	768791	AC	270	-60	50	NSI
YAC1779	209420	768797	AC	270	-60	50	NSI
YAC1780	209395	768797	AC	270	-60	51	3	8	20	12	0.82
YAC1781	209370	768823	AC	270	-60	41	1	16	20	4	0.25
	209370	768823	AC	270	-60	41	2	24	32	8	1.56
YAC1782	209350	768818	AC	270	-60	35	1	28	32	4	0.33
YAC1783	210730	769600	AC	270	-60	50	Assays Pending
YAC1784	210705	769600	AC	270	-60	50	Assays Pending
YAC1785	210680	769600	AC	270	-60	50	Assays Pending
YAC1786	210655	769600	AC	270	-60	53	Assays Pending
YAC1787	210630	769600	AC	270	-60	50	Assays Pending
YAC1788	210604	769600	AC	270	-60	50	Assays Pending
YAC1789	210579	769600	AC	270	-60	50	Assays Pending
YAC1790	210554	769600	AC	270	-60	50	Assays Pending
YAC1791	210529	769600	AC	270	-60	50	Assays Pending
YAC1792	210504	769609	AC	270	-60	50	Assays Pending
YAC1793	210477	769603	AC	270	-60	50	Assays Pending
YAC1794	210452	769600	AC	270	-60	50	Assays Pending
YAC1795	210427	769596	AC	270	-60	50	Assays Pending
YAC1796	210402	769596	AC	270	-60	50	Assays Pending
YAC1797	210377	769595	AC	270	-60	50	Assays Pending
YAC1798	210352	769595	AC	270	-60	50	Assays Pending
YAC1799	210327	769608	AC	270	-60	50	Assays Pending
YAC1800	210302	769630	AC	270	-60	50	Assays Pending
YAC1801	210277	769628	AC	270	-60	50	Assays Pending
YAC1802	210252	769626	AC	270	-60	50	Assays Pending
YAC1803	210227	769614	AC	270	-60	50	Assays Pending

20 October 2020

Page 40

==> picture [119 x 37] intentionally omitted <==

YAC1804	210202	769600	AC	270	-60	50	Assays Pending
YAC1805	210177	769591	AC	270	-60	50	Assays Pending
YAC1806	210152	769592	AC	270	-60	50	Assays Pending
YAC1807	210122	769596	AC	270	-60	50	Assays Pending
YAC1808	210097	769606	AC	270	-60	48	Assays Pending
YAC1809	210076	769619	AC	270	-60	54	Assays Pending
YAC1810	210627	769999	AC	270	-60	50	Assays Pending
YAC1811	210602	770000	AC	270	-60	50	Assays Pending
YAC1812	210577	770000	AC	270	-60	50	Assays Pending
YAC1813	210552	770001	AC	270	-60	50	Assays Pending
YAC1814	210527	777000	AC	270	-60	50	Assays Pending
YAC1815	210502	769999	AC	270	-60	50	Assays Pending
YAC1816	210477	769999	AC	270	-60	50	Assays Pending
YAC1817	210452	770004	AC	270	-60	50	Assays Pending
YAC1818	210427	770003	AC	270	-60	50	Assays Pending
YAC1819	210402	770014	AC	270	-60	50	Assays Pending
YAC1820	209325	768863	AC	270	-60	40	Assays Pending
YAC1821	209305	768870	AC	270	-60	50	Assays Pending
YAC1822	209251	768912	AC	270	-60	43	Assays Pending
YAC1823	209230	768929	AC	270	-60	50	Assays Pending
YAC1824	209205	768942	AC	270	-60	31	Assays Pending
YAC1825	209190	768949	AC	270	-60	39	Assays Pending
YAC1826	209165	768977	AC	270	-60	50	Assays Pending
YAC1827	209110	768989	AC	270	-60	50	Assays Pending
YAC1828	209085	768992	AC	270	-60	50	Assays Pending
YAC1829	209060	768988	AC	270	-60	47	Assays Pending
YAC1830	208902	768857	AC	270	-60	50	Assays Pending
YAC1831	208877	768854	AC	270	-60	53	Assays Pending
YAC1832	208851	768855	AC	270	-60	49	Assays Pending
YAC1833	208827	768855	AC	270	-60	54	Assays Pending
YAC1834	208802	768859	AC	270	-60	50	Assays Pending

20 October 2020

Page 41

==> picture [119 x 37] intentionally omitted <==

YAC1835	208777	768857	AC	270	-60	48	Assays Pending
YAC1836	208752	768855	AC	270	-60	48	Assays Pending
YAC1837	209506	769211	AC	270	-60	33	Assays Pending
YAC1838	209490	769211	AC	270	-60	50	Assays Pending
YAC1839	209490	769211	AC	270	-60	35	Assays Pending
YAC1840	209364	769191	AC	270	-60	47	Assays Pending
YAC1841	209341	769200	AC	270	-60	50	Assays Pending
YAC1842	209316	769199	AC	270	-60	50	Assays Pending
YAC1843	209291	769195	AC	270	-60	50	Assays Pending
YAC1844	209266	769203	AC	270	-60	50	Assays Pending
YAC1845	209241	769201	AC	270	-60	50	Assays Pending
YAC1846	209216	769200	AC	270	-60	47	Assays Pending
YAC1847	209193	769200	AC	270	-60	50	Assays Pending
YAC1848	209168	769200	AC	270	-60	50	Assays Pending
YAC1849	209143	769200	AC	270	-60	50	Assays Pending
YAC1850	209118	769204	AC	270	-60	41	Assays Pending
YAC1851	209098	769200	AC	270	-60	39	Assays Pending
YAC1852	209079	769200	AC	270	-60	54	Assays Pending
YAC1853	209052	769197	AC	270	-60	51	Assays Pending
YAC1854	209027	769200	AC	270	-60	49	Assays Pending
YAC1855	209003	769200	AC	270	-60	50	Assays Pending
YAC1856	210059	769648	AC	270	-60	54	Assays Pending
YAC1857	210364	770004	AC	270	-60	45	Assays Pending
YAC1858	210342	769981	AC	270	-60	48	Assays Pending
YAC1859	210306	769961	AC	270	-60	36	Assays Pending
YAC1860	210288	769960	AC	270	-60	45	Assays Pending
YAC1861	210266	769960	AC	270	-60	46	Assays Pending
YAC1862	210243	769958	AC	270	-60	50	Assays Pending
YAC1863	210218	769959	AC	270	-60	46	Assays Pending
YAC1864	210195	769960	AC	270	-60	38	Assays Pending
YAC1865	210176	769962	AC	270	-60	50	Assays Pending

20 October 2020

Page 42

==> picture [119 x 37] intentionally omitted <==

YAC1866	210151	769956	AC	270	-60	50	Assays Pending
YAC1867	210126	769961	AC	270	-60	50	Assays Pending
YAC1868	210101	769972	AC	270	-60	50	Assays Pending
YAC1869	210076	769982	AC	270	-60	50	Assays Pending
YAC1870	210051	769988	AC	270	-60	50	Assays Pending
YAC1871	210026	769990	AC	270	-60	50	Assays Pending

Table 4: Edikan drill holes and significant intercepts.

Hole_ID	East	North	Drill Type	Azimuth	Dip	Depth	No of Samples	From	To	Width	Au g/t
	(mE)	(mN)		(°)	(°)	m
Mampong
MPRC209	19995.703	12250.315	RC	138	-55	100					NSI
MPRC210	19995.673	12212.127	RC	138	-55	90					NSI
MPRC211	20098.265	12236.703	RC	138	-55	70					NSI
MPRC212	20183.857	12272.983	RC	138	-55	133					NSI
MPRC213	20586.011	12280.674	RC	138	-55	102					NSI
MPRC214	20869.97	12330.92	RC	138	-55	136	4	121	125	4	0.76
MPRC215	20870.58	12288.49	RC	138	-55	80					NSI
MPRC216	20054.16	12876.58	RC	318	-55	104					NSI
MPRC217	20053.22	12836.9	RC	318	-55	90					NSI
MPRC218	20240.03	12867.04	RC	318	-55	91					NSI
MPRC219	20239.5	12833.76	RC	318	-55	90					NSI
MPRC220	20774.99	12853.63	RC	318	-55	91					NSI
MPRC221	20776.6	12894.04	RC	318	-55	97					NSI
MPRC222	21053.32	12908.65	RC	318	-55	115	1	99	100	1	0.55
MPRC223	21051.91	12864	RC	318	-55	97					NSI
MPRC224	21280.07	12932.2	RC	318	-55	100	4	84	88	4	0.5
MPRC225	21274.97	12890.91	RC	318	-55	127					NSI
MPRC226	21370.76	12291.81	RC	138	-55	85					NSI
MPRC227	21370.16	12334.25	RC	138	-55	84					NSI
MPRC228	21448.77	12318.18	RC	138	-55	120	1	76	77	1	3.1
	21448.77	12318.18	RC	138	-55	120	1	87	88	1	2.93
	21448.77	12318.18	RC	138	-55	120	1	90	92	2	0.51
MPRC229	21821.59	12306.23	RC	138	-55	84					NSI
MPRC230	21821.18	12344.43	RC	138	-55	80					NSI
MPRC231	20572.54	12290.55	RC	138	-55	80	3	48	51	3	62.98
MPRC232	20173.63	12285.69	RC	138	-55	102	1	38	40	2	0.56
MPRC233	22395.44	12946.44	RC	318	-60	156	1	87	88	1	0.59
	22395.44	12946.44	RC	318	-60	156	9	90	99	9	7.95
MPRDD026	22720.24	12932.23	RCDD	318	-60	249.4	1	51	53	2	0.6
	22720.24	12932.23	RCDD	318	-60	249.4	1	84	85	1	3.29
	22720.24	12932.23	RCDD	318	-60	249.4	1	166	168	2	0.54
MPRDD027	21914.76	12920	RCDD	318	-60	240.4	1	8	10	2	3.87
	21914.76	12920	RCDD	318	-60	240.4	1	104	106	2	0.83

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	21914.76	12920	RCDD	318	-60	240.4	1	166	167	1	0.51
MPRDD028	22402.84	12903.736	RCDD	318	-60	312.4	1	210.4	211.9	1.5	1.29
MPRDD029	22706.438	12970.661	RCDD	318	-60	312.4	1	210.4	211.9	1.5	1.29
	22706.438	12970.661	RCDD	318	-60	312.4	22	252.9	274.2	21.3	1.06
	22706.438	12970.661	RCDD	318	-60	312.4	2	281.4	283.4	2	3.31
	22706.438	12970.661	RCDD	318	-60	312.4	1	295.9	297	1.1	0.81
MPRDD030	23030.286	12998.749	RCDD	318	-60						NSI
MPRDD031	22547.935	12949.531	RCDD	318	-60	281.3	1	228.15	229.05	0.9	1.3
	22547.935	12949.531	RCDD	318	-60	281.3	1	257	258.08	1.08	0.71
	22547.935	12949.531	RCDD	318	-60	281.3	1	263.1	264.6	1.5	0.57
MPRDD032	22621.786	13009.583	RCDD	318	-60	136.5	1	97	98	1	0.52
	22621.786	13009.583	RCDD	318	-60	136.5	1	117.2	118	0.8	0.74
	22621.786	13009.583	RCDD	318	-60	136.5	1	127	128	1	1.7
MPRDD032A	22621.649	13004.806	RCDD	318	-60	360.4	1	77	78	1	0.73
	22621.649	13004.806	RCDD	318	-60	360.4	2	86	88	2	0.64
	22621.649	13004.806	RCDD	318	-60	360.4	2	106	108	2	0.59
	22621.649	13004.806	RCDD	318	-60	360.4	1	122	123	1	0.63
	22621.649	13004.806	RCDD	318	-60	360.4	1	189	190	1	1.18
	22621.649	13004.806	RCDD	318	-60	360.4	2	243.77	245.5	1.73	0.93
	22621.649	13004.806	RCDD	318	-60	360.4	1	248	249	1	0.55
	22621.649	13004.806	RCDD	318	-60	360.4	1	264.34	264.84	0.5	1.74
	22621.649	13004.806	RCDD	318	-60	360.4	11	288.75	300	11.25	1.05
	22621.649	13004.806	RCDD	318	-60	360.4	1	301	302	1	0.62
	22621.649	13004.806	RCDD	318	-60	360.4	1	334.07	334.57	0.5	0.66
	22621.649	13004.806	RCDD	318	-60	360.4	1	338.5	340	1.5	1.22
MPRDD033	22701.791	13010.964	RCDD	318	-50	354.4	2	85	87	2	2.51
	22701.791	13010.964	RCDD	318	-50	354.4	1	92	93	1	1.09
	22701.791	13010.964	RCDD	318	-50	354.4	44	106	150.2	44.2	1.99
	22701.791	13010.964	RCDD	318	-50	354.4	2	176	178	2	1.45
	22701.791	13010.964	RCDD	318	-50	354.4	1	273	274	1	0.86
	22701.791	13010.964	RCDD	318	-50	354.4	6	280.5	287	6.5	1.48
	22701.791	13010.964	RCDD	318	-50	354.4	1	297	298	1	2.2
MPRDD034	22785.162	13014.655	RCDD	318	-60	306.4	16	105	121.1	16.1	1.23
	22785.162	13014.655	RCDD	318	-60	306.4	1	124.2	125.4	1.2	0.72
	22785.162	13014.655	RCDD	318	-60	306.4	1	137	138	1	0.94
	22785.162	13014.655	RCDD	318	-60	306.4	1	149.4	150.4	1	0.66
	22785.162	13014.655	RCDD	318	-60	306.4	8	153.6	163.5	9.9	2.4
	22785.162	13014.655	RCDD	318	-60	306.4	1	171	172	1	0.84
	22785.162	13014.655	RCDD	318	-60	306.4	15	178	196.5	18.5	1.66
	22785.162	13014.655	RCDD	318	-60	306.4	1	205.67	207.1	1.43	0.6
	22785.162	13014.655	RCDD	318	-60	306.4	4	212.2	217.5	5.3	0.87
Dadieso
DKRC107	611921	649511	RC	308	-60	180	1	2	4	2	0.5
	611921	649511	RC	308	-60	180	1	52	54	2	2.03
	611921	649511	RC	308	-60	180	4	100	108	8	2.37
	611921	649511	RC	308	-60	180	2	134	138	4	1.7
	611921	649511	RC	308	-60	180	4	152	160	8	0.76

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	611921	649511	RC	308	-60	180	7	166	180	14	1.24
DKRC108	611860	649460	RC	308	-60	150					NSI
DKRC109	612121	649619	RC	308	-60	150	1	22	24	2	0.68
DKRC110	612050	649620	RC	308	-60	150	1	58	60	2	1.13
	612050	649620	RC	308	-60	150	1	100	102	2	2.03
	612050	649620	RC	308	-60	150	2	112	116	4	1.13
	612050	649620	RC	308	-60	150	1	120	122	2	0.85
	612050	649620	RC	308	-60	150	1	126	128	2	1.13

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APPENDIX B – JORC TABLE 1 – Côte d’Ivoire

JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data

Criteria	JORC Code Explanation	Commentary
Sampling techniques	• Nature and quality of sampling (e.g. cut 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 meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	• Reverse Circulation (RC) drill holes were routinely sampled at 1m intervals down the hole. RC samples were collected at the drill rig by riffle splitting drill spoils to collect a nominal 1- 2 kg sub sample and composited into 2m samples for assay. • Air Core (AC) drill holes were routinely sampled at 1m intervals down the hole. AC samples were collected at the drill rig by riffle splitting drill spoils to collect a nominal 2-3 kg sub. • Half-core from Diamond core drilling (DD) were taken systematically from the ‘right’ hand side; 1.5 m in oxide and transition, 1 m in fresh • Routine standard reference material, sample blanks, and sample duplicates were routinely inserted/collected in the sample sequence. • RC, AC and DD samples were submitted to Bureau Veritas Côte d’Ivoire for preparation and analysis by 50g Fire Assay.
Drilling techniques	• Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).	• All RC holes were completed by reverse circulation (RC) drilling techniques with a hole diameter of 5.5 inch and a face sampling down hole hammer. Air Core drilling was completed with a 3.5 inch hammer. • Diamond drilling used HQ diameter in weathered, and NQ in fresh rock. All drill core was oriented using a Reflex EX Trac tool.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• Riffle split samples were weighed to monitor sample recovery • Diamond core recovery was measured. Recoveries in fresh rock average 98% • No apparent relation has been observed between sample recovery and grade
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged.	• All drill samples were geologically logged by Company Geologists. • Geological logging recorded rock types, the abundance of quartz and sulphides and degree of weathering using a standardized logging system. • Small samples of coarse and sieved RC drill material were affixed to “chip boards” to aid geological logging and for future reference. Sieved and washed AC materials were kept in chip boxes for future reference

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Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	• All RC and AC samples were riffle split at the drill rig. • Samples were obtained dry. • Routine field sample duplicates were taken to evaluate representivity of samples with the results stored in the master drill database for reference. • At the Bureau Veritas laboratory, samples were weighed, dried and crushed to -2mm in a jaw crusher. A 1.5kg split of the crushed sample was subsequently pulverised in a ring mill to achieve a nominal particle size of 85% passing 75um. • Sample sizes and laboratory preparation techniques are considered to be appropriate for this stage of gold exploration.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• Analysis for gold was undertaken at Bureau Veritas Côte d’Ivoire lab by 50g Fire Assay with AAS finish to a lower detection limit of 0.01ppm. Fire assay is considered a total assay technique. • No geophysical tools or other non-assay instruments were used in the analyses reported. • QAQC samples nominally ─ Blanks at 1 in 50 ─ Certified standards at 1 in 25 ─ Field duplicates of RC samples at 1 in 50 • Review of standard reference material, sample blanks and duplicates suggest there are no significant analytical bias or preparation errors in the reported analyses. • Internal laboratory QAQC checks are reported by the laboratory and routine review of the laboratory QAQC suggests the laboratory is performing within acceptable limits.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• Drill hole data is captured by Company geologists at the drill rig and manually entered into a digital database. • The digital data is verified and validated by the Company’s database Manager before loading into a master drill hole database on a regularly backed-up server. • Reported drill hole intercepts are compiled by the Company’s Group Exploration Manager. • Twin holes were not drilled to verify results. • There were no adjustments to assay data.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• Drill hole collars were set out in UTM grid_Zone30N for Yaouré. • Drill hole collars were positioned using handheld GPS, accurate to +/- 2-3m in the horizontal. • Drill holes were routinely surveyed for down hole deviation using the Flexit tool. DD holes were surveyed at 12m and then every 30m. RC holes were surveyed at 9m and at end of the hole. AC holes were not surveyed downhole. • Locational accuracy at collar and down the drill hole is considered appropriate for this early stage of exploration.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	• All reported RC and DD holes were drilled on 40m to 80m spaced SW-NE orientated drill sections with hole spacing on sections at 40m. Reported AC holes were drilled heel-to-toe on nominal 160m-spaced fences. • The reported drilling has not been used to estimate any mineral resources or reserves. • Prior to assaying, 1m RC sub-samples have been composited by weight to form 2m composites samples. AC samples were assayed for each meter.

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Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	• Exploration is at an early stage and the true orientation of mineralisation has not yet been confirmed.
Sample security	• The measures taken to ensure sample security.	• Samples were stored in a fenced compound within the Company’s accommodation camp in Tengréla or at secured Yaouré site offices prior to sample collection and road transport to the laboratory of Bureau Veritas in Abidjan or MSA Lab in Yamoussoukro.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• The Company’s sampling techniques employed in Ivory Coast were last reviewed in a site visit to the Tengréla Gold Project by Snowden mining consultants in December 2016.

Section 2 Reporting of Exploration Results - Yaouré

(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.	• Reported RC, AC and DD results from the Sayikro are within the Yaouré exploitation permit (tenement PE50) • The Yaouré exploitation 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 a 10% free carried interest. The Government of Côte d’Ivoire is entitled to a royalty on production as follows: Spot price per ounce - London PM Fix Royalty Rate Less than or equal to US$1000 3% Higher than US$1000 and less than or equal to US$1300 3.5% Higher than US$1300 and less than or equal to US$1600 4% Higher than US$1600 and less than or equal to US$2000 5% Higher than US$2000 6% • The Allekran prospect lies within the Yaouré West Permis de Recherches (tenement PR615). • The Yaouré West PR has an expiry date of 29 September 2022. The permit is held by Perseus’s subsidiary Perseus Mining Yaouré SA in which the government of Côte d’Ivoire holds a 10% free carried interest. • The reported exploration areas have no known exploration- specific environmental liabilities.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• No previous drilling has been conducted on the Sayikro prospect or at Allekran.
Geology	• Deposit type, geological setting and style of mineralisation.	• The Sayikro and Allekran prospects are underlain by mafic volcanics intruded by granodiorite bodies. • Mineralisation occurs as disseminations of py-apy in the granodiorite and in qtz-carbonate veins in both the intrusives and basalts. • The three deep holes into the CMA thrust were designed to identify the structure at depth.

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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: o easting and northing of the drill hole colla_r o _elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o 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.	• Reported results are summarised in Table 3 within the attached announcement. • The drill holes reported in this announcement have the following parameters: • Grid co-ordinates are UTM WGS84_30N. • Collar elevation is defined as height above sea level in metres (RL) • Dip is the inclination of the hole from the horizontal. Azimuth is reported in WGS 84_29N degrees as the direction toward which the hole is drilled. • Down hole length of the hole is the distance from the surface to the end of the hole, as measured along the drill trace • Intersection depth is the distance down the hole as measured along the drill trace. • Intersection width is the down hole distance of an intersection as measured along the drill trace • Hole length is the distance from the surface to the end of the hole, as measured along the drill trace. • Previously reported drilling results have not been repeated in this announcement.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. • 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.	• A minimum cut-off grade of 0.3 g/t Au is applied to the reported intervals. • Intervals of Internal dilution (<0.3 g/t Au) within a reported interval cannot exceed 2m. • No grade top cut has been applied. • Samples have been weighted by length of sample interval • No metal equivalent reporting is used or applied.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • 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 lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	• The reported results are from early stage exploration drilling; the orientation of geological structures is currently not known with certainty (other than the CMA). • Results are reported as down hole length, true width is unknown.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should 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.	• Drill hole plans are shown in Figures 5 & 6 in Appendix A. • Significant assay results are tabulated in body text of this announcement
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	• Results have been comprehensively reported in this announcement. • All drill holes completed, including holes with no significant gold intersections, are reported in Table 3 of Appendix A.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	• There is no other exploration data which is considered material to the results reported in this announcement

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	Further work	• The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• Further drilling is warranted at Sayikro to assess the gold within both the mafic volcanics and the granodiorite, and to define the strike length of the intersected mineralisation. • Results from Akakro & Govisou are be assessed to determine whether further drilling is warranted. • Grade-control drilling is planned for Angovia 2 to quantify a potential oxide resource. • The CMA Deeps holes will be used for future down-hole seismic measurements.

Section 2 Reporting of Exploration Results – Sissingué and Mahalé

(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.	• Reported AC results from Mahalé relate to exploration permit PR259, currently under application for an Exploitation Permit. The Permit is held by Perseus’s 100% owned subsidiary Occidental Gold SARL • Reported AC results from Sissingué relate to Exploitation Permit PE39, valid until 8 August 2022. • Perseus holds an 86% interest in PE39 through the Company’s wholly owned subsidiary Perseus Mining Côte d’Ivoire SA. The government of Côte d’Ivoire holds a 10% free carried interest in the property and the remaining 4% interest is held by local joint venture partner Société Minière de Côte d’Ivoire (SOMICI). • The Government of Côte d’Ivoire is entitled to a royalty on production as follows: Spot price per ounce - London PM Fix Royalty Rate Less than or equal to US$1000 3% Higher than US$1000 and less than or equal to US$1300 3.5% Higher than US$1300 and less than or equal to US$1600 4% Higher than US$1600 and less than or equal to US$2000 5% Higher than US$2000 6% • In respect of Sissingué, Franco Nevada are entitled to a 0.5% royalty on production and Ivorian partners are entitled to a royalty of US$0.80 per ounce. • The Mahalé and Sissingué areas have no known exploration- specific environmental liabilities.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Historical exploration over the Mahalé and Sissingué permits is limited to regional lag sampling by Randgold Resources during the 1990’s. • This work identified a number of target areas, including the areas reported on in this ASX announcement.
Geology	• Deposit type, geological setting and style of mineralisation.	• The Mahalé area is largely underlain by mafic volcanics and granites/syenites. • Gold mineralisation is related to altered syeno-granite and basalt in contact with the marginal parts of the intrusive, with associated pyrite + magnetite ± quartz veining. • The Sissingué area is dominated by clastic basinal meta- sediments intruded by major felsic (granodioritic) and minor mafic intrusions.

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		• Gold mineralisation occurs predominantly in quartz veins within altered metasediments (sericite-carbonate + pyrite ± arsenopyrite), often at and/or close to the contacts with plug- like felsic intrusions.
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: o easting and northing of the drill hole colla_r o _elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o 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.	• Reported results are summarised in Tables 1 & 2 within the attached announcement. • The drill holes reported in this announcement have the following parameters: • Grid co-ordinates are UTM WGS84_29N. • Collar elevation is defined as height above sea level in metres (RL) • Dip is the inclination of the hole from the horizontal. Azimuth is reported in WGS 84_29N degrees as the direction toward which the hole is drilled. • Down hole length of the hole is the distance from the surface to the end of the hole, as measured along the drill trace • Intersection depth is the distance down the hole as measured along the drill trace. • Intersection width is the down hole distance of an intersection as measured along the drill trace • Hole length is the distance from the surface to the end of the hole, as measured along the drill trace. • Previously reported drilling results (pre-2018) have not been repeated in this announcement.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. • 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.	• A minimum cut-off grade of 0.3 g/t Au is applied to the reported intervals. • Intervals of Internal dilution (<0.3 g/t Au) within a reported interval cannot exceed 2m. • No grade top cut has been applied. • Samples have been weighted by length of sample interval • No metal equivalent reporting is used or applied.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • 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 lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	• The reported results are from early stage exploration drilling; the orientation of geological structure is currently not known with certainty. • Results are reported as down hole length, true width is unknown.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should 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.	• Significant assay results are tabulated in the body text of this announcement. • A plan and section from the Tiana prospect are provided in Figures 2 & 3 in Appendix A.
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	• Results have been comprehensively reported in this announcement. • All drill holes completed, including holes with no significant gold intersections, are reported in Tables 1 & 2 in Appendix A.

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Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	• Since 2013, the Sissingué area has been intensely mined by local artisanal workers. The upper 8-10 vertical metres should be considered depleted and/or severely disturbed. • The Mahalé permit is largely devoid of artisanal workings. • There is no other exploration data which is considered material to the results reported in this announcement.
Further work	• The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• Further drilling is warranted to test the strike extensions of the identified zones of mineralisation at Tiana and Kakolo. • No further drilling is being contemplated at Fimbiasso West.

APPENDIX B – JORC TABLE 1 – Edikan

JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data

Criteria	JORC Code Explanation	Commentary
Sampling techniques	• Nature and quality of sampling (e.g. cut 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 meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. (e.g. submarine nodules) may warrant disclosure of detailed information.	• Drill holes have been drilled as Reverse Circulation (RC) and diamond core (DD) • RC samples were taken at 1m intervals, of which a nominal 2-3kg sub-sample was obtain by riffle splitter. Two consecutive samples were combined to obtain 2m composites • DD samples were cut in halves and one half submitted for assaying, the other half stored in the core box for reference. Sample intervals varied between 0.5m and 1.5m. • Routine standard reference material, sample blanks, and sample duplicates were routinely inserted/collected in the sample sequence. • Samples were submitted to Intertek Laboratories in Tarkwa/Ghana for preparation and analysis by 50g Fire Assay.
Drilling techniques	• Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, ~~t~~	• RC have been drilled using a 5.25” diameter face-sampling hammer • DD holes were drilled with HQ diameter in weathered material, and NQ diameter in fresh rock
Drill sample recovery	~~ec )~~ • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• Riffle split samples were weighed to monitor sample recovery • No apparent relation has been observed between sample recovery and grade

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Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged.	• All drill samples were geologically logged by Company geologists. Drill holes were logged in full • Geological logging recorded rock types, the abundance of quartz and sulphides and degree of weathering using a standardized logging system • Small samples of coarse and sieved RC drill material were preserved in ‘chip trays’ to aid geological logging and for future reference • Whole core is photographed wet and dry prior to cutting
• Sub- sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second- half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	• All RC samples were riffle split at the drill rig • Samples were obtained dry • Routine field sample duplicates were taken to evaluate representivity of samples with the results stored in the master drill database for reference • At Intertek Laboratories, samples were weighed, dried and crushed to -2mm in a jaw crusher. A 1.5kg split of the crushed sample was subsequently pulverised in a ring mill to achieve a nominal particle size of 85% passing 75um. • Sample sizes and laboratory preparation techniques are considered to be appropriate for this stage of gold exploration.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	• Analysis for gold was undertaken at Intertek Laboratories in Tarkwa/Ghana by 50g Fire Assay with AAS finish to a lower detection limit of 0.01ppm. Fire assay is considered a total assay technique. • No geophysical tools or other non-assay instruments were used in the analyses reported. • QAQC samples nominally • Blanks at 1 in 50 • Certified standards at 1 in 25 • Field duplicates of RC samples at 1 in 50 • Review of standard reference material, sample blanks and duplicates suggest there are no significant analytical bias or preparation errors in the reported analyses. • Internal laboratory QAQC checks are reported by the laboratory and routine review of the laboratory QAQC suggests the laboratory is performing within acceptable limits.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• Drill hole data is captured by Company geologists at the drill rig and manually entered into a digital database. • The digital data is verified and validated by the Company’s Data Base Manager before loading into a master drill hole database using acQuire data management software. • The data is stored on a regularly backed-up server. • Reported drill hole intercepts are compiled by the Company’s Group Exploration Manager. • Twin holes were not drilled to verify results. • There were no adjustments to assay data.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• Drill hole collars were set out in UTM grid_WGS84 Zone30N • Drill hole collars were positioned using hand held GPS, accurate to +/- 2-3m in the horizontal • Upon completion of the hole, the collar was accurately surveyed by the Company’s surveyor using DGPS • Downhole survey has been carried out by the drill contractor using a Reflex multi-shot tool. Measurements were taken nominally at 12m depth, at 30m depth and from there on every 30m

Section 2 Reporting of Exploration Results – Edikan

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(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 reported results are from the Ayanfuri Mining Lease, permit ML6/15. The Ayanfuri Mining Lease is located in the Central Region of Ghana and is owned by Perseus Mining (Ghana) Limited, a 90% owned subsidiary of Perseus Mining Limited, with the remaining 10% owned by the Government of Ghana. • The Ayanfuri ML is in good standing and valid through to 30 December 2024. • The Huntado & Mampong areas have no known exploration-specific environmental liabilities.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Historical exploration and mining was conducted on the property from the early 1990s up to 2001 by Cluff Mining (Ghana) Ltd and Ashanti Goldfields Corp. • The past exploration was successful and resulted in multiple discoveries leading to mining. • The mineralisation reported in this announcement has seen limited previous drilling by Perseus, and the reported program has focussed on areas either under-drilled or not previously drilled.
Geology	• Deposit type, geological setting, and style of mineralisation.	• The Ayanfuri Mining Lease is situated within the Paleoproterozoic Birimian terrane of Southern Ghana, being located in the Kumasi Basin sedimentary group approximately 5 to 8 kilometres west of the Ashanti Greenstone Belt. • The Huntado-Mampong prospect is an intrusive-hosted Orogenic gold deposit. The host rocks are a series of granite- granodiorite dykes and gold mineralisation is associated with stockwork quartz veining plus up to 3% disseminated pyrite and arsenopyrite. • The dimensions of the mineralised dykes are currently unknown and the subject of ongoing exploration. • The Dadieso mineralisation is a shear-hosted system in metasediments, with a dense quartz vein system but relatively low sulphide contents. Unusually for this style of mineralisation in the Edikan district there is a relatively low carbonaceous component.
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. • Downhole 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.	• Drill holes are displayed on a plan. • Drill intercepts together with hole collar locations, orientations and total depths are listed in Appendix A-Table 4. • The Competent Person is satisfied that the results presented are representative of drilling results to date.

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Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. • 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.	• The drill intercepts presented have been consistently calculated as length-weighted average grades. • Short, high-grade intervals that significantly affect the average grade of aggregate intercepts are included in the table of intercepts. • A minimum cut-off grade of 0.4 g/t Au is applied to the reported intervals. • Maximum internal dilution is 2m within a reported interval. • No grade top cut-off has been applied. • No metal equivalent reporting is used or applied
Relationship between mineralisatio n widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • 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 downhole lengths are reported, there should be a clear statement to this effect (e.g. ‘downhole length, true width not known’).	• As currently understood, the mineralised dykes dip subvertically and strike NE. Drilling was inclined at -60 deg to the SE or NW. True thicknesses of drill intercepts are therefore approximately 70 to 80% of the down-hole length. • Results are reported as down hole length.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should 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.	• A drill hole location plan is included in the report. • All significant results are tabulated in the body of the report, with complete drill hole details and results compiled in Appendix A, Table 4.
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	• All drill holes drilled in this program are plotted on Figure 8 in Appendix A
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	• There are no other exploration data that are considered material to the results reported in this announcement. • Intercepts are presented in conjunction with comments that describe the context of the intercepts. • The Competent Person is satisfied that the results presented are representative of drilling results to date.
Further work	• The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• The work reported herein comprises initial exploration drilling of mineralised dykes, with follow-up drilling planned to investigate strike and depth extensions. • Drilling results may form the basis for future estimation of Mineral Resources and Mineral Reserves (if warranted).

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