PERSEUS MINING LIMITED — Major Shareholding Notification 2010

Jan 5, 2010

FORM 604 Corporations Act 2001 Section 671B

NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL HOLDER

	To: Company Name/Scheme	PRU - Perseus Mining Limited
	ACN/ARSN	106 808 986
1.	Details of Substantial Holder(1)
	Name	Acorn Capital Limited
	ACN/ARSN (if applicable)	082 694 531
	There was a change in the interests of thesubstantial holder on	23-Dec-09
	The previous notice was given to the company on	18-Dec-08
	The previous notice was dated	18-Dec-08

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of Securities (4)	Previous notice		Present Notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary	12,184,908	6.94%	18,049,637	5.64%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of Change	Person whose relevantinterest changed	Nature ofchange (6)	Consideration given inrelation to change (7)	Class and number ofsecurities affected	Person's votesaffected
18-Dec-2008 to23-Dec-09	Acorn Capital Limited	Purchase	$8,226,564.91	9,981,341	9,981,341
18-Dec-2008 to23-Dec-09	Acorn Capital Limited	Sell andDilution	$6,777,550.30	4,116,612	4,116,612

4. Present relevant interests

Particulars of each relevant interests of the substantial holder in voting securities after the change are as follows:

Holder of Relevant Interest	Registered Holder of Securities	Person Entitledto be Registeredas	Nature ofrelevantinterest	Class andNumber ofSecurities	Person'sVotes
Military Superannuation & Benefits Board	National Nominees			543,643	543,643
Queensland Local Government Superannuation	JP Morgan Chase			565,924	565,924
Catholic Superannuation Fund	National Nominees			721,432	721,432
Auscoal Superannuation Fund	JP Morgan Chase			742,214	742,214
Microcap Investment Trust 1	National Nominees			942,445	942,445
Qantas Superannuation	National Nominees			1,168,812	1,168,812
Commonwealth Bank Officers' Superannuation Fund	Citicorp Nominees			1,428,779	1,428,779
Health Super	JP Morgan Chase			1,429,450	1,429,450
Sunsuper Fund	National Nominees			1,771,701	1,771,701
Microcap Investment Trust 2	National Nominees			2,268,297	2,268,297
UniSuper	National Nominees			3,198,273	3,198,273
Acorn Capital Microcap Trust	National Nominees			3,268,667	3,268,667

5. Changes in Associates

The persons who have become associates (2) of, ceased to be associates, or have change the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Name of Association

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
All Relevant Holders	C/O Acorn Capital Limited, Level 12, 90 Collins Street, Melbourne Victoria 3000

Print Name	DOUGLAS LOH	Capacity Portfolio Manager
Sign Here		05-Jan-10Date