PERSEUS MINING LIMITED — Share Issue/Capital Change 2004

Sep 20, 2004

ATTACHMENT 3 - RESTRICTED SECURITIES

Ordinary shares

A total of 37,183,445 ordinary shares are subject to escrow as follows:

3,550,000 shares in escrow up to 5 March 2005 150,000 shares in escrow up to 31 March 2005 50,000 shares in escrow up to 12 April 2005 33,433,445 shares in escrow for a period of two years, commencing from the date of official quotation of the Company's securities.

Options

A total of 8,815,000 options are subject to escrow as follows:

1,775,000 options in escrow up to 5 March 2005 75,000 options in escrow up to 31 March 2005 25,000 options in escrow up to 12 April 2005 540,000 options in escrow up to 7 July 2005 $6,400,000$ options in escrow for a period of two years, commencing from the date of official quotation of the Company's securities.