PERSEUS MINING LIMITED — Major Shareholding Notification 2016

Mar 31, 2016

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Ruffer LLP 80 Victoria Street London SW1E 5JL Fax +44 (0)20 7963 8175 www.ruffer.co.uk

31 March 2016

The Manager Company Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000

By electronic lodgement

Dear Sir/Madam

Re: Notice of ceasing to be a substantial holder - Perseus Mining Limited

We enclose notice of ceasing to be a substantial holder in Perseus Mining Limited. This notice is given by Ruffer LLP.

Yours faithfully

Tony Allen Compliance Manager

attach

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	Perseus Mining Limited
ACN/ARSN	106 808 986
1. Details of substantial holder(1)
NameCAN/ARSN (if applicable)	Ruffer LLP
The holder ceased to be asubstantial holder on	30/03/2016
The previous notice was given to the companyThe previous notice was dated	31/03/201631/03/2016

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) 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 ofchange	PersonWHOSE.relevantinterest	**************************************Nature ofchange (4)	Considerationgiven in relationto change(5)_______________________________________	Class (6) andnumber ofsecuritiesaffected	Person'svotesaffected
		See Annexure A			,,,,,,,,,,,,,,,,,,,,,,
		4.000 million and an and an an an an an an an an an an an an an			.1990 - Maria Maria Maria Maria Maria Maria Maria Maria Maria

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

	--------------------------------------
Name and CAN/ARSN (if applicable)	Nature of association
	**************************************
N/A

4. Addresses

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

--------------------------------------,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,Name	and and and and and annual distinguished and and andAddress
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,Ruffer LLI---------------------------------------	,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,기 Victoria Street, London, SW1E 5JL-80,,,,,,,,

Signature

print name	Tony Allen	CHRON	- Compliance Manager
			,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,SHIPPING PHONE
sign here		date	31/03/2016
	Newsverseer on 2009 TaleMANY MINERAL CARD TO000000000000000000000000000000000000000		--------------------------------------

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and irusiae of an $\langle \rangle$ equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(2)$
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(3)$
• Include details of: $\langle A \rangle$
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 6718(4) applies, a copy of any $(x)$ document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
  • any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to $\langle \mathbf{b} \rangle$ which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become $\binom{E}{12}$ entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• The voting shares of a company constitute one class unless divided into separate classes. $(6)$
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(7)$

Annexure A

This is Annexure A of 1 page referred to in Form $605$ – Notice of ceasing to be a substantial holder

Date ofchange	Personwhoserelevant interestchanged	Nature ofchange (6)	Considerationgiven in relationto change (7)	andClass٥fnumbersecuritiesaffected	Person'svotesaffected
21/09/2015	Ruffer LLP	Purchase of ordinary AUD $455,280.00shares		1,400,000ordinary shares	1,400,000
22/09/2015	Ruffer LLP	Purchase of ordinary AUD $152,500.00shares		500,000ordinary shares	500.000
23/09/2015	Ruffer LLP	Purchase of ordinary AUD $301,800.00shares		1,000,000ordinary shares	1,000,000
05/10/2015	Ruffer LLP	Purchase of ordinary AUD $394,364.52shares		1,195,044ordinary shares	1,195,044
22/12/2015	Ruffer LLP	Saleοfshares	ordinary AUD $327,500.00	1,000,000ordinary shares	1,000,000
23/12/2015	Ruffer LLP	Saleоfshares	ordinary AUD $1,514.88	4,734ordinary shares	4,734
24/12/2015	Ruffer LLP	Saleöfshares	ordinary AUD $175,963.45	541,426ordinary shares	541,426
30/12/2015	Ruffer LLP	$\overline{S}$Salekhares	ordinary AUD $147,543.38	453,840ordinary shares	453,840
30/12/2015	Ruffer LLP	Saleοſİshares	ordinary AUD $13,454.91	41,387ordinary shares	41,387
31/12/2015	Ruffer LLP	Saleofshares	ordinary AUD $10,386.60	32,008ordinary shares	32,008
07/01/2016	Ruffer LLP	Saleοfshares	ordinaryAUD $64,398.72	164,998ordinary shares	164,998
	08/01/2016 Ruffer LLP	ÍSalcοfshares	ordinaryAUD $26,059.60	63,560ordinary shares	63,560
19/01/2016	Ruffer LLP	shares	Purchase of ordinary AUD $332,800.00	1,000,000ordinary shares	1,000,000
11/03/2016	Ruffer LLP	Saleоfshares	ordinary AUD $306,795.90	765,841ordinary shares	765,841
17/03/2016	Ruffer LLP	Saleоfshares	ordinary AUD $601,050.00	1,500,000ordinary shares	1,500,000
21/03/2016	Ruffer LLP	$\alpha$ fSaleshares	ordinary AUD $262,688.23	640,703ordinary shares	640.703

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