JUNE 2026 QUARTER REPORT Perseus delivers strong operational performance with cash & bullion increased to US$1 billion
30 JULY 2026
NEWS RELEASE
JUNE 2026 QUARTER REPORT
Perseus delivers strong operational performance with cash & bullion
increased to US$1 billion
PERTH, Western Australia/ July 30, 2026/ Perseus Mining Limited (“Perseus” or the “Company”) (TSX & ASX: PRU)
reports on its activities for the three months’ period ended on June 30, 2026 (the “Quarter”). Below is a summary of
the release. The full report is available at www.perseusmining.com, www.sedarplus.ca and www.asx.com.au.
Overview
• Group operational TRIFR 0.87 with Nyanzaga Gold Project (NGP) achieving 8 million worked hours LTI free
• Q4 FY26 production totalled 109,013 ounces of gold at an All-In Site Costs (AISC) of US$1,941 per ounce
• Average cash margin of US$2,145/oz of gold produced, delivering notional operating cashflow of US$216 million
and a record US$769 million for the full FY26 financial year
• Increased cash and bullion position to US$1.03 billion, plus liquid listed securities valued at US$233 million
• Stoping operations commenced at Yaouré CMA Underground which produced 8,472 ounces of gold
• NGP reached 67% overall project progress, and development remains on track for first production by January 2027
• Share buyback increased to A$150 million
• Appointment of Wade Bickley as Chief Operating Officer
• Post quarter-end, appointment of Thomas (Tommy) McKeith as independent Non-Executive Director
FY27 Outlook
Production and AISC guidance for June 2027 Financial Year (FY27) of 420,000 - 480,000 ounces at US$1,835 – 2,070
per ounce AISC.
Key operating indicators and highlights for the June 2026 quarter (Q4 FY26) include:
PERFORMANCE INDICATOR UNIT MARCH 2026
QUARTER
JUNE 2026
QUARTER
JUNE 2026
HALF YEAR
FY26 FINANCIAL
YEAR
Gold recovered1 Ounces 107,144 109,013 216,157 404,998
Gold poured1 Ounces 109,382 112,116 221,499 403,705
Production Cost2 US$/ounce 1,238 1,340 1,287 1,270
All-In Site Cost (AISC)2 US$/ounce 1,748 1,941 1,842 1,750
Gold sales1 Ounces 96,260 114,567 210,827 399,023
Average sales price2 US$/ounce 4,143 4,086 4,113 3,693
Notional Cashflow2 US$ million 252 216 468 769
1. Includes the CMA Underground gold produced, poured and sold for this quarter ahead of commercial production.
2. Excludes CMA Underground production cost, gold produced, AISC, Average sales price and Notional Cashflow as the related cash costs are
capitalised until commercial production is achieved.
Perseus’s Managing Director and CEO Craig Jones said:
"This was a quarter of significant milestones for Perseus — first stoping ore from CMA Underground, a first for both
Perseus and Côte d'Ivoire, an outstanding safety achievement at Nyanzaga, and cash and bullion passing US$1 billion
for the first time. That balance sheet strength gives us the flexibility to keep investing in our growth pipeline while
continuing returns to shareholders as reflected in the Board’s decision to upsize our buyback to $150m this quarter . I
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want to thank our employees and contractors across all our operations and projects for their dedication and hard
work over the past year — the milestones we've delivered are a direct reflection of their commitment .
Looking ahead, FY27 will be a transformational year for Perseus as we bring two major growth projects — CMA
Underground and Nyanzaga — through to commercial production alongside our existing operations ”.
Conference Call Perseus will host investor webinar and conference call to discuss its June 2026 Quarterly Results,
at 9.00am AEDT today (30 July 2026). Register for the webinar at:
https://us02web.zoom.us/webinar/register/WN_6j0LnsvnQ0ip-WQEoZEFqA
A recording of the conference call will be made available via Perseus’s website at www.perseusmining.com.
GROUP GOLD PRODUCTION AND COST GUIDANCE
Forecast group gold production and AISC for the 2027 financial year is as follows:
Table 14: Production and AISC Guidance
PARAMETER UNITS 2027 FINANCIAL YEAR
FORECAST
Yaouré Gold Mine
Production Ounces 150,000 – 170,000
All-in Site Cost(1) US$ per ounce $1,955 – $2,205
Edikan Gold Mine
Production Ounces 150,000 – 170,000
All-in Site Cost(1) US$ per ounce $1,700 – $1,920
Sissingué Gold Mine
Production Ounces 65,000 – 85,000
All-in Site Cost(1) US$ per 0unce $1,865 – $2,105
Nyanzaga Gold Mine
Production(2) Ounces ~55,000
PERSEUS GROUP
Production Ounces 420,000 – 480,000
All-in Site Cost(1) US$ per ounce $1,835 – $2,070
Notes
1. Cost guidance is based on a gold price assumption of $4,000 per ounce and Government royalty rates of 8% in Côte d'Ivoire and 11% (applicable
at $4,000 per ounce) in Ghana and has only been calculated on the three operating mines.
2. Nyanzaga guidance is based on FID as released in April 2025 - Refer ASX Release - Perseus mining proceeds with development of the Nyanzaga
Gold Project. Further guidance for Nyanzaga will be provided in Q3 FY27. All operating costs for Nyanzaga are capitalised until Commercial
Production planned for Q4 FY27.
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SEPTEMBER 2026 QUARTER EVENTS & ANNOUNCEMENTS
• 30 July - June 2026 Quarterly Report & Webinar
• 26 August – Annual Mineral Resources and Ore Reserves Update
• 26 August – Financial Year 2026 Report & Webinar
• 2-4 September – Africa Down Under (Perth)
• 24 September – Nyanzaga Gold Project site visit (Tanzania)
• 27-30 September – Mining Forum Americas (Colorado)
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 t hat 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 disclo sed 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.
This market announcement was authorised for release by the Board of Perseus Mining Limited
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ASX/TSX CODE: PRU
CAPITAL STRUCTURE:
Ordinary shares: 1,327,131,493
Performance rights: 5,613,211
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
Thomas McKeith
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
+61 420 582 887
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