Perseus Discovers More High-Grade GOLD at Yaouré MINE
APRIL 13, 2022
NEWS RELEASE
PERSEUS MINING LIMITED
Level 2, 437 Roberts Road, Subiaco WA 6008
ABN: 27 106 808 986
1
PERSEUS DISCOVERS MORE HIGH-GRADE GOLD AT YAOURÉ MINE
PERTH, WESTERN AUSTRALIA/April 13, 2022/Perseus Mining Limited (ASX/TSX: PRU) is pleased to report further
strong results from exploration drilling at its Yaouré Gold Mine in Côte d’Ivoire. Perseus will use the results to upgrade
the CMA Underground Inferred Mineral Resource estimate to the Indicated category and complete a Pre-Feasibility
Study (PFS) for a Yaouré underground mining operation in the June 2022 Quarter.
HIGHLIGHTS
• Perseus’s ongoing infill and down-dip extension drilling on the CMA structure at Yaouré continues to confirm strong
potential for further mineral resources beneath the CMA open pit (“CMA Underground prospect”).
• Infill drilling of the Inferred resource confirms further high-grade gold mineralisation, with recent results including:
‐ YRC1957D: 20.5m @ 5.84 g/t Au from 243.8m, including 19.4m @ 6.12 g/t Au from 243.8m
‐ YRC1960D: 12m @ 2.07 g/t Au from 257m, including 3m @ 6.65 g/t Au from 265m
‐ YRC1961D: 13.4m @ 2.98 g/t Au from 264.6m, including 12.4m @ 3.18 g/t Au from 264.6m
‐ YRC1968D: 12.2m @ 4.9 g/t Au from 291.8m, including 10.4m @ 5.61 g/t Au from 291.8m
‐ YRC1970D: 10m @ 4.29 g/t Au from 275.8m, including 7.70m @ 5.47 g/t Au from 278.1m
‐ YRC1974D: 14.2m @ 4.24 g/t Au from 218.8m
‐ YRC1975D: 9.5m @ 5.34 g/t Au from 223.5m
‐ YRC1982D: 6m @ 5.32 g/t Au from 301m
‐ YRC1988D: 10m @ 12.03 g/t Au from 346m
‐ YRC2006D: 10m @ 7.41 g/t Au from 228m, including 5.7m @ 12.64 g/t Au from 231.1m
‐ YRC2018D: 9m @ 4.11 g/t Au from 321m, including 7m @ 5.24 g/t Au from 321m
‐ YRC2019D: 15m @ 3.49 g/t Au from 268m including 7m @ 4.91 g/t Au from 268m and 5m @ 3.43 g/t Au from
278m
‐ YRC2020D: 6.5m @ 5.15 g/t Au from 224m
‐ YRC2029D: 26m @ 2.46 g/t Au from 235.3m, including 5.6m @ 6.17 g/t Au from 235.2m
‐ YRC2039D: 8.5m @ 8.91 g/t Au from 222.7m
‐ YRC2042D: 12m @ 2.01 g/t Au from 355m, including 3m @ 5.26 g/t Au from 355m
• Perseus returned further high-grade results in the CMA hanging-wall, reflecting CMA splays or oblique S-structures:
‐ YRC1987D: 13m @ 7.78 g/t Au from 145m
‐ YRC1989D: 8m @ 11.42 g/t Au from 60m
2
NEWS RELEASE | PERSEUS DISCOVERS MORE HIGH -GRADE GOLD AT
YAOURÉ MINE
PERSEUSMINING.COM
‐ YRC2047D: 16m @ 3.39 g/t Au from 56m, including 4m @ 10.75 g/t Au from 68m
‐ YRC2074D: 5m @ 5.46 g/t Au from 99m
Perseus’s Managing Director and CEO Jeff Quartermaine said:
“Having reached our goal of producing gold at a rate of 500,000oz per year across our three gold mines, we are now
working to maintain that level of production over the next decade and beyond. These latest drill results from Yaouré give
us further confidence in the high-grade gold contained beneath the CMA open pit and we are working towards a Mineral
Resource upgrade, that will enable us to complete a Pre -Feasibility Study and maiden Ore Reserve for the CMA
Underground Project during the current quarter. Beyond this, we look forward to progressing Perseus’s first underground
mining development which is likely to be the first large scale underground mine operating in Côte d’Ivoire.”
CMA UNDERGROUND RESOURCE DRILLING
Perseus continued to focus recent exploration activities on the Yaouré permits at the CMA Underground prospect,
located 2 kilometres south of the Yaouré mill (Appendix 1 - Figure 1.1). Results received continue to demonstrate the
potential for the Company to materially grow its gold inventory at Yaouré through further drilling success.
As detailed previously (refer to news releases announcements dated October 14, 2021 and January 19, 2022), Perseus
has focused on infill drilling at the CMA Underground to firm up a previously defined Inferred Mineral Resource of
1.8 million tonnes grading 6.1 g/t Au extending below the currently planned CMA pit . This resource extends to a
maximum 275 metre down dip beneath the open pit resource (refer to Resources and Reserves release August 24,
2021), with potential for further mineralisation down dip beyond this (Appendix 1 – Figure 1.2). Perseus has also
completed a Scoping Study which identified the potential to mine the CMA structure using underground mining
methods (refer to “Perseus Mining Completes Scoping Study for Potential Underground Mine at Yaouré” dated
November 5, 2018).
Drilling during the last quarter comprised 29,805 metres in 136 reverse circulation ( RC) pre-collared diamond (DD)
holes, infilling the existing 50 x 50 metres coverage to a nominal 25 x 25 metre pattern to allow conversion of the
Inferred resource to Indicated. Results continue to provide strong encouragement, with the latest intercepts
comparable in grade, thickness and style to those previously encountered (Appendix 1 - Figures 1.3-1.5).
Better intercepts from the CMA infill drilling are shown in Table 1 below, with a complete summary of significant
results included in Appendix 2 – Table 2.1.
CMA DOWN -DIP DRILLING
Perseus received further results for drilling completed in late 2021 to investigate the next 300 metre down-dip from
the current CMA Underground resource. The step-out program, guided by Perseus’s early 2020 3D seismic survey, is
being drilled on an initial 100 x 200 metre pattern to better define the position of the CMA structure and the intensity
of mineralisation. If results remain encouraging, this will be infilled to 100 x 100 metres to allow an initial Inferred
Mineral Resource Estimate. This program, currently on hold while the CMA Underground resource conversion drilling
is completed, will resume in the next quarter.
Better intercepts from the Yaouré step out drilling are shown in Table 1 below and on Figure 1.6, with a complete
summary of significant results included in Appendix 2 – Table 2.2.
3
NEWS RELEASE | PERSEUS DISCOVERS MORE HIGH -GRADE GOLD AT
YAOURÉ MINE
PERSEUSMINING.COM
Table 1: Intercepts from CMA Underground and CMA Down-dip Drilling
BHID From
(m) To (m) Gold Intercept Comment
CMA Underground Resource Drilling
YRC1924D 119.6 127.4 7.8m @ 2.11 g/t CMA HW lode
Including 119.6 124.6 5m @ 3.22 g/t CMA HW lode
YRC1924D 130.4 135.6 5.2m @ 2.33 g/t CMA HW lode
Including 132.5 135.6 3.1m @ 3.66 g/t CMA HW lode
YRC1924D 360 367.5 7.5m @ 2.14 g/t CMA FW lode
Including 360 361.3 1.3m @ 9.5 g/t CMA FW lode
YRC1944D 103 105 2m @ 3.08 g/t CMA HW lode
YRC1944D 317.6 322.2 4.6m @ 2.17 g/t CMA FW lode
Including 319.5 322.2 2.7m @ 3.24 g/t CMA FW lode
YRC1944D 335.1 344.2 9.1m @ 2.55 g/t CMA FW lode
Including 336.8 342.2 5.4m @ 4.01 g/t CMA FW lode
YRC1951D 24 28 4m @ 1.89 g/t CMA HW lode
YRC1951D 235 244 9m @ 1.25 g/t CMA FW lode
YRC1956D 336 338 2m @ 4.26 g/t CMA FW lode
YRC1956D 329 332 3m @ 1.49 g/t CMA FW lode
YRC1956D 336 338 2m @ 4.26 g/t CMA FW lode
YRC1957D 243.8 264.3 20.5m @ 5.84 g/t CMA FW lode
Including 243.8 263.2 19.4m @ 6.12 g/t CMA FW lode
YRC1960D 257 269 12m @ 2.07 g/t CMA FW lode
Including 265 268 3m @ 6.65 g/t CMA FW lode
YRC1961D 82 84 2m @ 7.23 g/t CMA HW lode
YRC1961D 264.6 278 13.4m @ 2.98 g/t CMA FW lode
Including 264.6 277 12.4m @ 3.18 g/t CMA FW lode
YRC1962D 282.5 292.2 9.7m @ 9.6 g/t CMA FW lode
YRC1967D 303 308 5m @ 1.31 g/t CMA FW lode
YRC1968D 179.5 181.7 2.2m @ 2.67 g/t CMA FW lode
YRC1968D 291.8 304 12.2m @ 4.9 g/t CMA FW lode
Including 291.8 302.2 10.4m @ 5.61 g/t CMA FW lode
YRC1969D 279 288.9 9.9m @ 3.65 g/t CMA FW lode
YRC1970D 0 4 4m @ 1.04 g/t CMA HW lode
YRC1970D 275.8 285.8 10m @ 4.29 g/t CMA FW lode
Including 278.1 285.8 7.7m @ 5.47 g/t CMA FW lode
YRC1971D 333.6 338 4.4m @ 2.61 g/t CMA FW lode
Including 333.6 337 3.4m @ 3.14 g/t CMA FW lode
YRC1971D 340.8 349 8.2m @ 3.19 g/t CMA FW lode
YRC1973AD 0 28 28m @ 0.521 g/t CMA HW lode
YRC1973AD 129 131 2m @ 2.845 g/t CMA HW lode
YRC1973AD 241 262 21m @ 1.701 g/t CMA FW lode
4
NEWS RELEASE | PERSEUS DISCOVERS MORE HIGH -GRADE GOLD AT
YAOURÉ MINE
PERSEUSMINING.COM
Including 250 256 6m @ 4.99 g/t CMA FW lode
YRC1974D 218.8 233 14.2m @ 4.24 g/t CMA FW lode
YRC1975D 223.5 233 9.5m @ 5.34 g/t CMA FW lode
YRC1976D 237.8 244 6.2m @ 3.65 g/t CMA FW lode
YRC1978D 125 127 2m @ 0.8 g/t CMA HW lode
YRC1978D 334 340 6m @ 2.9 g/t CMA FW lode
YRC1981D 306 310 4m @ 2.12 g/t CMA FW lode
YRC1981D 322 328.2 6.2m @ 3.79 g/t CMA FW lode
Including 322 325 3m @ 7.48 g/t CMA FW lode
YRC1982D 301 307 6m @ 5.32 g/t CMA FW lode
YRC1984D 265 270 5m @ 1.78 g/t CMA FW lode
Including 265 266.1 1.1m @ 6.97 g/t CMA FW lode
YRC1985D 261 266 5m @ 2.92 g/t CMA FW lode
Including 263 265 2m @ 6.92 g/t CMA FW lode
YRC1985D 302 305 3m @ 2.89 g/t CMA FW lode
YRC1987D 87 95 8m @ 1.19 g/t CMA HW lode
Including 91 92.4 1.4m @ 5.45 g/t CMA HW lode
YRC1987D 145 158 13m @ 7.78 g/t CMA HW lode
YRC1987D 163.2 167 3.8m @ 2.76 g/t CMA HW lode
YRC1987D 212 218.5 6.5m @ 2.28 g/t CMA FW lode
Including 216 218.5 2.5m @ 5.37 g/t CMA FW lode
YRC1987D 393 395.7 2.7m @ 1.87 g/t CMA FW lode
YRC1988D 346 356 10m @ 12.03 g/t CMA FW lode
YRC1989D 60 68 8m @ 11.42 g/t CMA HW lode
YRC1989D 235 239 4m @ 1.04 g/t CMA FW lode
YRC1990D 128 130 2m @ 2.79 g/t CMA HW lode
YRC1990D 237 242.8 5.8m @ 1.78 g/t CMA FW lode
Including 240 241.8 1.8m @ 4.54 g/t CMA FW lode
YRC1992D 278 281 3m @ 2.85 g/t CMA FW lode
YRC1993D 132 134 2m @ 0.965 g/t CMA HW lode
YRC1993D 206.1 207.1 1m @ 38.8 g/t CMA FW lode
YRC1993D 211 213 2m @ 2.945 g/t CMA FW lode
Including 212 213 1m @ 5.07 g/t CMA FW lode
YRC1993D 262 274 12m @ 0.976 g/t CMA FW lode
Including 264 272 8m @ 1.31 g/t CMA FW lode
YRC1998D 106 108 2m @ 0.97 g/t CMA HW lode
YRC1998D 138 140 2m @ 1.14 g/t CMA HW lode
YRC1999D 258 265 7m @ 0.92 g/t CMA FW lode
YRC2001D 211 220 9m @ 2.03 g/t CMA FW lode
Including 211 214 3m @ 5.85 g/t CMA FW lode
YRC2004D 253 264 11m @ 1.49 g/t CMA FW lode
5
NEWS RELEASE | PERSEUS DISCOVERS MORE HIGH -GRADE GOLD AT
YAOURÉ MINE
PERSEUSMINING.COM
Including 258.2 262.1 3.9m @ 3.34 g/t CMA FW lode
YRC2006D 117.3 150.5 33.2m @ 1.68 g/t CMA HW lode
Including 117.3 125 7.7m @ 3.46 g/t CMA HW lode
YRC2006D 201 209 8m @ 1.61 g/t CMA FW lode
Including 204 208 4m @ 2.74 g/t CMA FW lode
YRC2006D 228 238 10m @ 7.41 g/t CMA FW lode
Including 231.1 236.8 5.7m @ 12.64 g/t CMA FW lode
YRC2008D 246.6 257 10.4m @ 1.68 g/t CMA FW lode
Including 247.3 250 2.7m @ 4.91 g/t CMA FW lode
YRC2009D 252 259 7m @ 1.45 g/t CMA FW lode
Including 254 257 3m @ 3.04 g/t CMA FW lode
YRC2013D 228 234 6m @ 2.12 g/t CMA FW lode
Including 230 234 4m @ 3.03 g/t CMA FW lode
YRC2014D 247 253 6m @ 2.36 g/t CMA FW lode
YRC2014D 272 275 3m @ 1.11 g/t CMA FW lode
YRC2015D 244 249 5m @ 3.43 g/t CMA FW lode
Including 244.8 248 3.2m @ 5.2 g/t CMA FW lode
YRC2017D 279.2 293 13.8m @ 1.86 g/t CMA FW lode
Including 279.2 290.7 11.5m @ 2.17 g/t CMA FW lode
YRC2018D 310 313 3m @ 7.05 g/t CMA FW lode
YRC2018D 321 330 9m @ 4.11 g/t CMA FW lode
Including 321 328 7m @ 5.24 g/t CMA FW lode
YRC2019D 268 283 15m @ 3.49 g/t CMA FW lode
Including 268 275 7m @ 4.91 g/t CMA FW lode
And 278 283 5m @ 3.43 g/t CMA FW lode
YRC2020D 224 230.5 6.5m @ 5.15 g/t CMA FW lode
YRC2025D 208 213 5m @ 2.08 g/t CMA FW lode
YRC2025D 259 261 2m @ 2.36 g/t CMA FW lode
YRC2028D 256 260.3 4.3m @ 1.2 g/t CMA FW lode
YRC2029D 8 12 4m @ 0.67 g/t CMA HW lode
YRC2029D 16 24 8m @ 0.76 g/t CMA HW lode
YRC2029D 36 40 4m @ 0.5 g/t CMA HW lode
YRC2029D 111.9 114 2.1m @ 0.592 g/t CMA HW lode
YRC2029D 156 162 6m @ 0.883 g/t CMA HW lode
Including 156 159 3m @ 1.68 g/t CMA HW lode
YRC2029D 176 178 2m @ 0.58 g/t CMA FW lode
YRC2029D 188 190 2m @ 1.835 g/t CMA FW lode
YRC2029D 228 233 5m @ 2.267 g/t CMA FW lode
YRC2029D 235.3 261.3 26m @ 2.461 g/t CMA FW lode
Including 235.2 240.8 5.6m @ 6.17 g/t CMA FW lode
And 245 249.1 4.1m @ 4.92 g/t CMA FW lode
6
NEWS RELEASE | PERSEUS DISCOVERS MORE HIGH -GRADE GOLD AT
YAOURÉ MINE
PERSEUSMINING.COM
YRC2039D 222.7 231.2 8.5m @ 8.91 g/t CMA FW lode
YRC2040D 229 240.2 11.2m @ 1.5 g/t CMA FW lode
Including 235 240.2 5.2m @ 2.2 g/t CMA FW lode
YRC2041D 161 164 3m @ 1.28 g/t CMA FW lode
YRC2041D 236.5 245 8.5m @ 2.76 g/t CMA FW lode
Including 236.5 242.3 5.8m @ 3.95 g/t CMA FW lode
YRC2042D 329 331 2m @ 3.66 g/t CMA FW lode
YRC2042D 355 367 12m @ 2.01 g/t CMA FW lode
Including 355 358 3m @ 5.26 g/t CMA FW lode
YRC2044D 90 92 2m @ 1.09 g/t CMA HW lode
YRC2044D 271 284.6 13.6m @ 1.68 g/t CMA FW lode
Including 278.4 284.6 6.2m @ 2.99 g/t CMA FW lode
YRC2045D 271 273 2m @ 4.36 g/t CMA FW lode
YRC2045D 278 283 5m @ 3.44 g/t CMA FW lode
Including 278 281.2 3.2m @ 4.93 g/t CMA FW lode
YRC2046D 235 253 18m @ 1.19 g/t CMA FW lode
YRC2047D 56 72 16m @ 3.39 g/t CMA HW lode
Including 68 72 4m @ 10.75 g/t CMA HW lode
YRC2047D 138.3 142 3.7m @ 3.11 g/t CMA HW lode
YRC2047D 236 241 5m @ 1.33 g/t CMA FW lode
YRC2048D 137 140 3m @ 2.21 g/t CMA HW lode
YRC2049D 294 297 3m @ 1.69 g/t CMA FW lode
YRC2049D 316 332 16m @ 1.62 g/t CMA FW lode
YRC2053D 72 80 8m @ 0.94 g/t CMA HW lode
YRC2053D 296 300 4m @ 1.014 g/t CMA FW lode
YRC2053D 315.6 318.5 2.9m @ 1.571 g/t CMA FW lode
YRC2053D 343.8 348 4.2m @ 6.688 g/t CMA FW lode
YRC2056D 327 330 3m @ 6.25 g/t CMA FW lode
YRC2056D 344 347 3m @ 2.63 g/t CMA FW lode
YRC2060D 24 32 8m @ 1.3 g/t CMA HW lode
YRC2061D 4 12 8m @ 1.12 g/t CMA HW lode
Including 8 12 4m @ 1.99 g/t CMA HW lode
YRC2062D 36 40 4m @ 1.94 g/t CMA HW lode
YRC2064D 64 68 4m @ 1.77 g/t CMA HW lode
YRC2067D 20 32 12m @ 2.21 g/t CMA HW lode
YRC2072D 304 307 3m @ 3.45 g/t CMA FW lode
YRC2074D 99 104 5m @ 5.46 g/t CMA HW lode
YRC2075D 243.6 255.9 12.3m @ 0.787 g/t CMA FW lode
Including 254 255.9 1.9m @ 2.75 g/t CMA FW lode
YRC2086D 8 12 4m @ 0.53 g/t CMA HW lode
YRC2086D 64 76 12m @ 0.937 g/t CMA HW lode
7
NEWS RELEASE | PERSEUS DISCOVERS MORE HIGH -GRADE GOLD AT
YAOURÉ MINE
PERSEUSMINING.COM
Including 72 76 4m @ 2.21 g/t CMA HW lode
YRC2090D 28 32 4m @ 0.77 g/t CMA HW lode
YRC2091D 16 28 12m @ 0.883 g/t CMA HW lode
YRC2092D 44 52 8m @ 1.44 g/t CMA HW lode
Including 44 48 4m @ 2.68 g/t CMA HW lode
CMA Down-Dip Drilling
YRC1850AD 604 612 8m @ 2.64 g/t CMA FW lode
Including 605 610 5m @ 3.93 g/t CMA FW lode
YRC1850AD 625 632 7m @ 2.52 g/t CMA FW lode
Including 628 632 4m @ 3.98 g/t CMA FW lode
YRC1850AD 653 655 2m @ 1.37 g/t CMA FW lode
YRC1859D 473 477 4m @ 2.2 g/t CMA FW lode
Including 473 476 3m @ 2.86 g/t CMA FW lode
YRC1861D 549 555 6m @ 2.48 g/t CMA FW lode
Including 550 552 2m @ 6.9 g/t CMA FW lode
YRC1871D 532 534 2m @ 6.32 g/t CMA FW lode
YRC1871D 546 551 5m @ 1.25 g/t CMA FW lode
Including 549 551 2m @ 2.66 g/t CMA FW lode
YRC2033D 569.5 572 2.5m @ 1 g/t CMA FW lode
YRC2033D 586 588 2m @ 2.13 g/t CMA FW lode
YRC2034D 450 453 3m @ 4.25 g/t CMA FW lode
YRC2034D 712 715.1 3.1m @ 1.42 g/t CMA FW lode
YRC2037D 556 566 10m @ 2.44 g/t CMA FW lode
Including 556 561.6 5.6m @ 3.22 g/t CMA FW lode
YRC2037D 641 643 2m @ 2.29 g/t CMA FW lode
YRC1851D 68 80 12m @ 1.37 g/t CMA HW lode
YRC1851D 127 129 2m @ 1 g/t CMA HW lode
YRC1851D 587.5 598 10.5m @ 8.3 g/t CMA FW lode
Including 593.8 595.9 2.1m @ 38.73 g/t CMA FW lode
YRC1863D 0 32 32m @ 2.37 g/t CMA HW lode
YRC1863D 60 64 4m @ 9.58 g/t CMA HW lode
YRC2035D 56 60 4m @ 1.06 g/t CMA HW lode
YRC2035D 68 72 4m @ 1.75 g/t CMA HW lode
YRC2035D 663 669 6m @ 1.81 g/t CMA FW lode
Including 664 668 4m @ 2.43 g/t CMA FW lode
YRC2035D 746 751 5m @ 1.66 g/t CMA FW lode
YRC2043D 60 64 4m @ 3.8 g/t CMA HW lode
8
NEWS RELEASE | PERSEUS DISCOVERS MORE HIGH -GRADE GOLD AT
YAOURÉ MINE
PERSEUSMINING.COM
NEXT STEPS AT CMA
Perseus’s ongoing exploration and study programmes at Yaouré will focus on:
• Completion of the infill drilling program to convert the CMA Inferred Resource to an Ore Reserve potentially
exploitable by underground mining methods and providing the basis for a Pre -Feasibility Study (PFS).
Geotechnical, hydrological, mining and metallurgical studies are underway, with a targeted completion for the
PFS being the end of the June Quarter 2022, with timing dependent on the ultimate footprint size of the orebody.
• Resumption of drilling down dip of the Inferred Resource to identify the potential for further resource extensions.
• Continued analysis of data generated from the 3D seismic survey to define targets for drill testing.
• Completion of a property-wide geochemical auger drilling program to define bedrock geochemical and alteration
patterns beneath extensive transported cover.
This announcement has been approved for release by Perseus’s Managing Director and Chief Executive Officer, Jeff
Quartermaine.