PERSEUS MINING LIMITED — Regulatory Filings 2006

Apr 4, 2006

71.65m @ $3.3g/t$ and 46m @ $3.6g/t$ Au AT OBDILLA GOLD PROSPECT (Tolubay Project - Kyrgyz Republic - Perseus 100%)

HIGHLIGHTS

• Four diamond drill holes completed on the third section at Obdilla have confirmed a continuation of mineralisation, with increased grades.
• Intercepts include 71.65m at 3.3g/t, 46m at 3.6g/t, 76m at 1.5g/t and 17.5m at 2.1g/t and subintercepts included 35m at 4.7g/t and 10.4m at 7.4g/t Au.
• The Company's tenement holdings in the Tolubay region now stand at 2.274 sq km after the acquisition of the Aravan and Akbura licences covering 1.647 sq km. A regional exploration program for Carlin style gold occurrences, similar to Obdilla will commence in April.

Assay results have been received for four diamond drill holes completed on the third section completed on the Obdilla prospect, located on Perseus's 100% owned Tolubay licence in the Kyrgyz Republic. Section 3 was drilled at about 251970E, 80m east of the first completed section and 170m east of the second section. Results from drill holes ZDDH015 to 018 are summarized in the attached table and cross section. The most significant intercepts include:

Hole ZDDH015 intercepted 71.65m at 3.3g/t Au from 15.85m including 35m at 4.7g/t Au from 43m; Hole ZDDH016 intercepted 46m at 3.6g/t Au from 9m including 10.4m at 7.4g/t Au from 44.6m; Hole ZDDH017 intercepted 76m at 1.5g/t Au from 4m including 40m at 1.8g/t Au from 32m; and Hole ZDDH018 intercepted 17.5m at 2.1g/t Au from 1.5m.

The geology encountered on section 251970E is consistent with the two previous sections, except the gold mineralisation is marginally shallower, but apparently wider and with higher grades. A further hole (ZDDH024) is planned to test the down dip extension from ZDDH015.

The drilling has been completed (ZDDH019 to 22) on Section 4, situated 55m east of Section 3. An additional hole will be drilled on each of Sections 2 and 3, before the rig moves to the Section 5 drill pad, located approximately 350m west of Section 4.

A second rig is continuing to drill approximately 1,400m west of Section 4 and a third rig has been booked to drill from pads in the centre of the prospect area.

A gold mineralized zone over 2,000m long and up to 200m wide has been defined by trenching at Obdilla. The Company is aiming to complete seven sections spaced at 100m in the east and five sections spaced at approximately 200m in the west to test the mineralised zone. The Company aims to release an initial resource estimate on completion of the seven eastern sections.

Hole	East (m)	North (m)	Depth (m)	Azm $^{\circ}$	Incl. $^{\circ}$	From (m)	To (m)	Width (m)	Aμ g/t
ZDDH015	251971	4447672	127	180	$-80$	3	11.75	8.75	0.9
						15.85	87.5	71.65	3.3
					incl.	43	78	35	4.7
ZDDH016	251970	4447670	75	360	$-50$	6	7.45	1.45	1.2
						9	55	46	3.6
					incl.	9	10.25	1.25	3.0
					and	11.55	31	19.45	2.9
					and	34	41	7	3.9
					and	44.6	55	10.4	7.4
					incl.	44.6	51	6.4	11.2
ZDDH017	251970	4447670	119	360	$-70$	4	80	76	1.5
					incl.	4	21	17	1.7
					and	26.15	29	2.85	2.2
					and	32	72	40	1.8
					and	74	77	3	1.2
					and	79	80		1.5
						89	90		2.2
ZDDH018	251970	4447670	58	360	$-30$	1.5	19	17.5	2.1

Drill Intercepts – Section 3, Obdilla – Tolubay Gold Project – Kyrgyz Republic.

Perseus subsidiary JSC Z-Explorer has applied for and has been granted two additional exploration licences adjoining the Company's Isfairam and Djingil licences in the Tolubay region:

• The 1070 sq km Akbura licence covers 84km strike of the prospective thrust belt and the high $\bullet$ grade Jamansay gold occurrence, amongst others. The Jamansay gold occurrence is at least 80m long by 12m to 23m wide at surface, with grades from 0.3 to $39g/t$ Au in historical trench sampling; and
• The 577 sq km Aravan Licence adjoins the Diingil licence, located 50km north east of the $\bullet$ Tolubay licence, covers a series of gold and mercury occurrences in a favorable geological setting.

JSC Z-Explorer now holds 5 licences in the Tolubay region totaling 2.274 sq km. The company is about to commence regional exploration for Obdilla style gold occurrences. Obdilla is a Carlin style gold occurrence typically grading 1.0g/t to 4.0g/t Au and though large in size, this type of occurrence was not the target of Soviet exploration in the region, which focused on skarn style mineralisation.

Perseus is a gold exploration company exploring for large gold deposits within regions that: have numerous "World Class" gold deposits; have significant existing gold production and growing reserve inventories; remain amongst the least explored by modern techniques; and include countries in which the Directors and Perseus staff have substantial experience.

Current Activities: Resource drilling underway at Obdilla (Tolubay Project) in the Kyrgyz Republic; Large (20,000m) exploration drill program underway on the Tengrela Project in Ivory Coast to test regionally significant soil anomalies: Feasibility study in progress at the Grumesa Project in Ghana.

$To$ discuss any aspect of this announcement, please contact Mark Calderwood _on calderwoodm@perseusmining.com

Mark Calderwood Managing Director 5 April 2006

The information in this report that relates to exploration results is based on information compiled by Mr Mark Calderwood, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Calderwood is a Director and full-time employee of the Company. Mr Calderwood has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Calderwood consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.