PERSEUS MINING LIMITED — Major Shareholding Notification 2004

Sep 20, 2004

ATTACHMENT 2 - OPTIONS (Exercisable at 20 cents each on or before 31 March 2009)

Distribution Schedule

			Number of Holders	Number of Units	% of Total Issued Capital
	$\overline{\phantom{a}}$	1,000	$\boldsymbol{0}$	0	0.000
1,001	$\overline{\phantom{a}}$	5,000	291	1,455,000	7.281
5,001	$\qquad \qquad$	10,000	16	147,500	0.738
10,001	$\ddot{\phantom{1}}$	100,000	118	4,095,000	20.493
100,001	$\blacksquare$	99,999,999,999	14	14,285,000	71.488
		Total	439	19,982,500	100

Top Twenty Holders

Name	Number	%
Montagu Capital Ltd	4,000,000	20.018
Westpac Custodian Nominees Limited	3,750,000	18.766
Mr Mark Calderwood	2,400,000	12.011
RAB Special Situations LP	2,000,000	10.009
Mr James Bremner & Mrs Janice Ivy Skinner	500,000	2.502
SDC Pty Ltd	375,000	1.877
Mr Steffen Brammer	260,000	1.301
Mr Susmit Shah	200,000	1.001
RM Capital Pty Ltd	150,000	0.751
Werner Ulrich	150,000	0.751
Toltec Holdings Pty Ltd	125,000	0.626
Mr John Campbell Robertson	125,000	0.626
Kirke Securities Ltd	125,000	0.626
Mr Peter Anthony Diamond	125,000	0.626
Mrs Ursula Ulrich	100,000	0.500
Mr Jason David & Mrs Faye Sandra Millar	100,000	0.500
Integrity Cleaning Services (VIC) Pty Ltd	100,000	0.500
Todea Holdings Pty Ltd	100,000	0.500
Sancoast Pty Ltd	100,000	0.500
Loeb Aron & Co Ltd	100,000	0.500
Total	14,885,000	74.490
Total options	19,982,500

(Refer to Attachment 3 for options subject to escrow conditions)