First Stoping Operations at CMA Underground in Côte d’Ivoire
28 APRIL 2026
NEWS RELEASE
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First Stoping Operations at CMA Underground in Côte d’Ivoire
OVERVIEW
Perth, Western Australia/April 28, 2026/Perseus Mining Limited (ASX/TSX: PRU) is pleased to announce it
has successfully completed the first underground production blast at its CMA Underground project. The
blast was fired from Blika 1120 Ore Drive South at the Yaouré Gold Mine in Côte d’Ivoire, with excavation
of the first production ore commenced immediately. This event is a key milestone for the project and
signals the continuation of the project’s ramp up toward steady-state production, scheduled for Q3 FY27.
The CMA Underground mine is both the first mechanised underground mine in Côte d’Ivoire and the first
for Perseus. With investment in the CMA Underground project, Perseus continues to be a key partner in
assisting to build skills in the Ivorian mining sector. The start of underground ore production represents a
significant milestone of the development of broader mining capability in the country.
Perseus’s Managing Director and CEO Craig Jones said:
“The first production blast is a defining moment for Perseus and Côte d’Ivoire, representing the culmination
of many months of intensive underground development , drilling and infrastructure installation . This is a
testament to the hard work and dedication of our site team and contractors, and we look forward to scaling
up operations over the coming months with the higher-grade underground ore providing mill feed.”.
NEWS RELEASE | First Stoping Operations at CMA Underground in Côte
d’Ivoire
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COMPETENT PERSON STATEMENT:
All production targets referred to in this release are underpinned by estimated Ore Reserves which have been prepared by competent
persons in accordance with the requirements of the JORC Code.
The information in this report that relates to the Mineral Resources and Ore Reserve for the Edikan and Sissingué Gold Mines was
updated by the Company in a market announcement “Perseus Mining updates Mineral Resources and Ore Reserves” released on 21
August 2025. The information in this report that relates to the Mineral Resources and Ore Reserve for the Nyanzaga Gold Project was
updated in a market announcement “Perseus Mining Increases Nyanzaga Gold Project Ore Reserves to 4.0 Moz” released on 20
February 2026.The Company confirms that all material assumptions underpinning those estimates and the production targets, or the
forecast financial information derived therefrom, in that market release continue to apply and have not materially changed.
The Company confirms that the material assumptions underpinning the estimates of Ore Reserves described in “Technical Report —
Edikan Gold Mine, Ghana” dated 6 April 2022, “Technical Report — Yaouré Gold Project, Côte d’Ivoire” dated 18 December 2023,
“Technical Report — Sissingué Gold Project, Côte d’Ivoire” dated 29 May 2015, and “Technical Report — Nyanzaga Gold Project,
Tanzania” dated 10 June 2025 continue to apply.
CAUTION REGARDING FORWARD LOOKING INFORMATION:
This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of
management made in light of its experience and its perception of trends, current conditions and expected developments, as well as
other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such
statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other
things: the price of gold, continuing commercial production at the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold
Mine without any major disruption, development of a mine at Nyanzaga, the receipt of required governmental approvals, the
accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and
the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the
foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management
believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there
can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known
and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the
Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such
forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current
exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as
those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking
information. Perseus does not undertake to update any forward-looking information, except in accordance with applicable securities
laws.
NEWS RELEASE | First Stoping Operations at CMA Underground in Côte
d’Ivoire
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ASX/TSX CODE: PRU
CAPITAL STRUCTURE:
Ordinary shares: 1,346,377,056
Performance rights: 8,625,981
REGISTERED OFFICE:
Level 2
437 Roberts Road
Subiaco WA 6008
Telephone: +61 8 6144 1700
www.perseusmining.com
DIRECTORS:
Rick Menell
Non-Executive Chairman
Craig Jones
Managing Director & CEO
Amber Banfield
Non-Executive Director
Elissa Cornelius
Non-Executive Director
Dan Lougher
Non-Executive Director
John McGloin
Non-Executive Director
James Rutherford
Non-Executive Director
CONTACTS:
Craig Jones
Managing Director & CEO
Stephen Forman
Investor Relations
+61 484 036 681
Nathan Ryan
Media Relations
+61 420 582 887
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