Perseus Mining Updates Mineral Resources and ORE Reserve Estimates
PERSEUS MINING UPDATES MINERAL RESOURCES AND
ORE RESERVE ESTIMATES
HIGHLIGHTS
• Measured and Indicated (M&I) Mineral Resources now total 10.6 Moz gold reflecting a 2.9 Moz or 37% increase
• Proved and Probable Ore Reserves for the Group now total 7.0 Moz gold representing a 2.0 Moz or 40% increase
• Yaouré Ore Reserves increased by 217 koz or 15%
• Edikan M&I Mineral Resources increased by 834 koz or 54%
• Nyanzaga Ore Reserves increased by 1,767 koz or 75% since June 2025 Ore Reserve
EXECUTIVE SUMMARY
Perth, Western Australia/ August 2 6, 2026/ Perseus Mining Limited (ASX/TSX: PRU) is pleased to update estimates of its
Mineral Resources and Ore Reserves as of 30 June 2026.
The Perseus Group’s Measured and Indicated (M&I) Mineral Resources now total 10.6 Moz gold reflecting a 2.9 Moz or 37%
increase against the 2025 M&I Mineral Resources (Table 1).
Proved and Probable Ore Reserves for the Group now total 7.0 Moz gold representing a 2.0 Moz or 40% increase against the
2025 Ore Reserve (Table 2).
The sources of change underlying the 2.0 Moz gold increase in Perseus’s estimate of Ore Reserves against those reported at
30 June 2025 are presented in Figure 1. As part of its annual planning cycle, the Company has reassessed the growth
opportunities available within its portfolio with the approach of optimising the portfolio rather than focussing on fixed
investment targets for each asset. In this way, the Company has sought to find the balance between investment in growth
opportunities and the cash margin generated by the business.
26 AUGUST 2026
NEWS RELEASE
Level 2, 437 Roberts Road, Subiaco WA 6008
ABN: 27 106 808 986
1
PERSEUS MINING LIMITED
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PERSEUS MINING UPDATES MINERAL RESOURCES AND ORE RESERVE
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Figure 1: Change in Perseus Group Ore Reserves by Project – June 2025 to June 2026
Perseus’s Managing Director and CEO, Craig Jones, said:
This is another year of strong growth in Perseus’s Mineral Resource and Ore Reserve base. Growing our Measured
and Indicated Mineral Resources by 37% to 10.6 million ounces, and our Proved and Probable Ore Reserves by 40%
to 7.0 million ounces reflecting Perseus’s ongoing value generation through extending the life of its mines through
exploration and reflects the quality of the exploration and technical work done by our teams.
Nyanzaga is now firmly established as a cornerstone of the Perseus portfolio, contributing 4.1 million ounces of Ore
Reserves and underpinning the next phase of the Company's production growth as we advance the project toward
first gold. At Yaouré, the net addition to Reserve was driven from Yaouré pit, while at Edikan and Sissingué we
continue to replace mining depletion, maintaining reserve life at both operations
Our Mineral Resources continue to grow with our ongoing organic drilling activities, with an increased drilling
program planned for FY27.
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PERSEUS ESTIMATES
Table 1: Perseus Mining Mineral Resources1,2,4
PROJECT
MEASURED RESOURCES INDICATED RESOURCES MEASURED & INDICATED
RESOURCES INFERRED RESOURCES
QUANTITY GRADE GOLD QUANTITY GRADE GOLD QUANTITY GRADE GOLD QUANTITY GRADE GOLD
Mt g/t gold ’000 oz Mt g/t gold ‘000 oz Mt g/t gold ’000 oz Mt g/t gold ’000 oz
Edikan 21.2 0.89 604 68.2 0.88 1,923 89.4 0.88 2,528 16.7 1.0 544
Sissingué3 1.7 1.23 66 10.8 1.37 475 12.5 1.35 541 2.1 1.0 64
Yaouré 12.4 0.73 292 45.6 1.75 2,565 58.1 1.53 2,857 32.3 1.5 1,591
Nyanzaga - - - 110.4 1.33 4,715 110.4 1.33 4,715 6.5 1.6 343
Total 35.3 0.85 963 234.9 1.28 9,677 270.3 1.22 10,640 57.5 1.4 2,542
Table 2: Perseus Mining Ore Reserve1,4
PROJECT
PROVED PROBABLE PROVED & PROBABLE
QUANTITY GRADE GOLD QUANTITY GRADE GOLD QUANTITY GRADE GOLD
Mt g/t gold ’000 oz Mt g/t gold ’000 oz Mt g/t gold ’000 oz
Edikan 12.7 0.87 355 20.2 0.99 643 32.9 0.94 998
Sissingué3 1.0 1.34 43 4.1 1.43 190 5.1 1.41 233
Yaouré 12.4 0.73 292 29.1 1.46 1,369 41.5 1.24 1,661
Nyanzaga - - - 95.7 1.33 4,109 95.7 1.34 4,109
Total 26.1 0.82 690 149.1 1.32 6,312 175.2 1.24 7,001
Notes for Table 1 and Table 2:
1 Refer to Notes to individual tables of Mineral Resources and Ore Reserves in respect of each project presented below.
2 Measured and Indicated Mineral Resources are reported inclusive of Ore Reserves.
3 Sissingué Mineral Resources and Ore Reserves include the Fimbiasso and Bagoé Projects in addition to the Sissingué Gold Mine.
4 The Company holds 90% of Edikan Gold Mine (EGM) and Yaouré Gold Mine (YGM), 86% of Sissingué Gold Mine (SGM) except Bagoé at 90%, and 80% of
Nyanzaga Gold Project (NGP).
PERSEUS’S MINERAL RESOURCE ESTIMATES
The Perseus Group’s total M&I Mineral Resources reported as at 30 June 2026 are estimated to be 270.3 Mt grading 1.22 g/t
gold, containing 10.6 Moz of gold, compared with the estimate of 30 June 2025 of 185.9 Mt grading at 1.30 g/t Au for 7.8 Moz
of gold. The Mineral Resource Statement accounts for mining depletion of in-situ Mineral Resources and is reported inclusive
of Ore Reserves. Inferred Resources are 57.5 Mt grading at 1.4 g/t Au for 2.5 Moz of gold, compared with the estimate of 30
June 2025 of 39.9 Mt grading at 1.5 g/t Au for 1.9 Moz of gold. Tonnes are reported as dry metric tonnes. All tabulated
tonnes, grade and metal have been rounded to reflect appropriate precision in the estimate and may cause some
discrepancies in totals. A breakdown of these changes is presented graphically in Figure 2.
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Figure 2: Change in Perseus Group Mineral Resources by Project and Classification – June 2025 to June 2026
In March 2026 Perseus announced the sale of the Meyas Sand Gold Project (MSGP) in Sudan (see news release titled “Perseus
announces sale of Group interest in Meyas Sand Project in Sudan” dated 16 March 2026). This was previously quoted as a
Foreign/Historical Estimate, and with Perseus’s sale of all interest, has been removed from reporting in this release.
The Group Mineral Resource estimates are reported in accordance with the 2012 Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves (the JORC Code 2012). The classification categories of Measured,
Indicated and Inferred under the JORC Code (2012) are equivalent to the CIM categories of the same names (CIM, 2014).
For the purpose of satisfying “reasonable prospects for eventual extraction” (JORC Code 2012), open pit Mineral Resources
are reported above optimised open pit shells developed with actual and estimated operating costs, geotechnical and
metallurgical parameters, and a long-term gold price assumption of US$3,300 per ounce, with the exception of Nyanzaga
reported at US$2,700 per ounce. Underground Mineral Resources at CMA are constrained to below the CMA open pit and
reported at a 1.5 g/t Au cut-off. Underground Mineral Resources at Edikan are constrained to a depth of 700 mRL at Esuajah
South and are all exclusive of open pit Mineral Resources.
Technical Reports associated with these Mineral Resources, have been prepared in accordance with NI 43 -101 for the
following operations:
• Nyanzaga Gold Project, Tanzania, NI 43-101 Technical Report, dated 10 June 2025
• Yaouré Operations, Côte d’Ivoire, NI 43-101 Technical Report, dated 18 December 2023
• Edikan Operations, Ghana, NI 43-101 Technical Report, dated 6 April 2022
• Sissingué Operations, Côte d’Ivoire, NI 43-101 Technical Report, dated 29 May 2015
These reports can be found on Perseus’s website at www.perseusmining.com and on the Canadian System for Electronic
Document Analysis and Retrieval (SEDAR) website www.sedarplus.ca.
YAOURÉ GOLD MINE, CÔTE D’IVOIRE
The combined M&I Mineral Resource for the Yaouré Gold Mine is estimated at 58.1 Mt grading 1.53 g/t Au, containing
2.9 Moz of gold ( Table 3). A further 32.3 Mt of material grading 1.5 g/t gold, containing 1.6 Moz of gold are classified as
Inferred Mineral Resources (Table 4). The previous Mineral Resource as at 30 June 2025 was estimated at M&I of 54.1 Mt
grading at 1.49 g/t gold, containing 2.6 Moz of gold and an additional 16.9 Mt grading 1.8 g/t for 982 koz of gold of Inferred
Mineral Resources.
An updated Mineral Resource estimate was prepared for the Yaouré open pit during the 2026 financial year. All remaining
geological models are unchanged from the previous year’s Mineral Resource Statement. An overview showing the relative
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locations of the various Mineral Resource areas is presented in Figure 3 while a cross-section view showing the Yaouré open
pit design and $3,300/oz Au resource limiting shell is presented in Figure 4. All Yaouré Gold Mine Mineral Resources are
depleted to 30 June 2026 surveyed mining surfaces or underground voids.
Table 3: Yaouré Measured and Indicated Mineral Resources 10,11,12
DEPOSIT
DEPOSIT TYPE
MEASURED RESOURCES INDICATED RESOURCES MEASURED & INDICATED RESOURCES
QUANTITY GRADE GOLD QUANTITY GRADE GOLD QUANTITY GRADE GOLD
Mt g/t gold ’000 oz Mt g/t gold ’000 oz Mt g/t gold ’000 oz
CMA 1, 3, 4 Open Pit - - - 9.8 0.96 301 9.8 0.96 301
Yaouré 2, 3, 5 Open Pit - - - 21.6 1.40 972 21.6 1.40 972
Zain 1 2, 5, 7 Open Pit - - - 4.0 1.51 196 4.0 1.51 196
Zain 2 2, 3, 5, 7 Open Pit - - - 1.2 1.40 53 1.2 1.40 53
CMA SW 3, 5, 6 Open Pit 0.2 1.12 6 1.4 1.37 63 1.6 1.34 69
Sub-total 0.2 1.12 6 38.0 1.30 1,585 38.2 1.30 1,591
CMA 9 Underground - - - 7.2 4.19 971 7.2 4.19 971
Heap Leach 3, 8 Stockpile - - - 0.4 0.61 8 0.4 0.61 8
Stockpiles Stockpile 12.3 0.73 286 - - - 12.3 0.73 286
TOTAL 12.4 0.73 292 45.6 1.75 2,565 58.1 1.53 2,857
Table 4: Yaouré Inferred Mineral Resources 10,11
DEPOSIT
DEPOSIT TYPE
INFERRED RESOURCES
QUANTITY GRADE GOLD
Mt g/t gold ’000 oz
CMA 1, 3, 4 Open Pit 7.9 0.8 214
Yaouré 2, 3, 5 Open Pit 14.7 1.5 698
Zain 1 2, 5, 7 Open Pit 4.0 1.1 143
Zain 2 2, 3, 5, 7 Open Pit 0.2 0.8 6
CMA SW 3, 5, 6 Open Pit 0.8 1.0 26
CMA 9 Underground 4.5 3.5 504
Total 32.3 1.5 1,591
Notes for Table 3 and Table 4:
1. Based on June 2022 Mineral Resource estimate.
2. Based on June 2026 Mineral Resource estimate.
3. Depleted for previous mining and to 30 June 2026 mining surface.
4. 0.3 g/t gold cut-off applied to in situ open pit material constrained to US$3,300/oz pit shells.
5. 0.2 g/t gold cut-off applied to in situ open pit material constrained to US$3,300/oz pit shells.
6. Based on May 2024 Mineral Resource estimate.
7. Based on July 2025 Mineral Resource estimate.
8. Heap Leach Mineral Resources are stated at 0 g/t gold cut-off; only heap components with average grade above 0.4 g/t are included.
9. May 2024 Mineral Resource estimate, below CMA pit void and above 1.5 g/t block grade cut-off.
10. Mineral Resources current as of 30 June 2026.
11. Rounding of numbers to appropriate precision has resulted in apparent inconsistencies.
12. Measured and Indicated Mineral Resources are reported inclusive of Ore Reserves.
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Figure 3: Yaouré Gold Mine Project Areas
Figure 4: Yaouré Open Pit long section showing Ore Reserve design and Mineral Resource shell
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SISSINGUÉ GOLD MINE, CÔTE D’IVOIRE
The combined M&I Mineral Resource for the Sissingué Gold Mine is estimated as 12.5 Mt grading 1.35 g/t gold, containing
541 koz of gold as at 30 June 2026 (Table 5). A further 2.1 Mt of material grading 1.0 g/t gold, containing 64 koz of gold are
classified as Inferred Mineral Resources (Table 6). The previous Mineral Resource as at 30 June 2025 was estimated at M&I
of 6.8 Mt grading at 1.71 g/t gold, containing 373 koz of gold and an additional 0.2 Mt grading 1.2 g/t for 7 koz of gold of
Inferred Mineral Resources.
Sissingué Mineral Resources comprise the remaining in situ mineralisation at the Sissingué mine, the Fimbiasso West deposit,
and mineralisation at the Antoinette, Juliette, and Véronique deposits at the Bagoé Project. These Mineral Resources also
include material on stockpiles at the Sissingué , Fimbiasso and Bagoé mines as at 30 June 2026.
An updated geological model was developed for the Sissingué Main deposit in March 2026. All remaining geological models
are unchanged from the previous year’s Mineral Resource Statement. A plan view showing the Main and Bagoé Open Pit
designs at Sissingué is presented in Figure 5 while a cross section of the Sissingué Bagoé design and resource limiting shell is
presented in Figure 6.
Reported Mineral Resources at Sissingué, Fimbiasso and Bagoé have been depleted to 30 June 2026 using the surveyed
mining surfaces.
Table 5: Sissingué Measured and Indicated Mineral Resources1,2,3
DEPOSIT
DEPOSIT TYPE
MEASURED RESOURCES INDICATED RESOURCES MEASURED & INDICATED RESOURCES
QUANTITY GRADE GOLD QUANTITY GRADE GOLD QUANTITY GRADE GOLD
Mt g/t gold ’000 oz Mt g/t gold ’000 oz Mt g/t gold ’000 oz
Sissingué 4, 5, 6 Open Pit 0.6 0.86 17 8.7 1.12 311 9.3 1.10 328
Fimbiasso 5, 7, 10 Open Pit 0.2 1.48 9 1.0 1.68 53 1.2 1.65 62
Bagoé 5, 8, 9, 10 Open Pit 0.2 1.60 12 1.1 3.05 110 1.4 2.80 122
Stockpiles Stockpile 0.6 1.38 28 - - - 0.6 1.38 28
Total 1.7 1.23 66 10.8 1.37 475 12.5 1.35 541
Table 6: Sissingué Inferred Mineral Resources1,3
DEPOSIT
DEPOSIT TYPE
INFERRED RESOURCES
QUANTITY GRADE GOLD
Mt g/t gold ’000 oz
Sissingué 4, 5, 6 Open Pit 2.0 0.9 62
Fimbiasso 5, 7, 10 Open Pit 0.0 1.7 0
Bagoé 5, 8, 9, 10 Open Pit 0.0 1.4 2
Total 2.1 1.0 64
Notes for Table 5 and Table 6:
1 Mineral Resources current at 30 June 2026.
2 Measured and Indicated Mineral Resources are inclusive of Ore Reserves.
3 Rounding of numbers to appropriate precision may have resulted in apparent inconsistencies.
4 Sissingué Main based on March 2026 Mineral Resource model constrained to US$3,300/oz pit shell or within the Ore Reserve pit design.
5 Depleted to 30 June 2026 mining surface.
6 0.3 g/t gold cut-off applied to in situ material.
7 Fimbiasso West based on September 2025 Mineral Resource model constrained to US$3,300/oz pit shell.
8 Based on March 2025 Mineral Resource models for Antoinette and Véronique constrained to US$3,300/oz pit shells.
9 Based on May 2021 Mineral Resource model for Juliette constrained to US$3,300/oz pit shells.
100.4 g/t gold cut-off applied to in situ material.
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Figure 5: Sissingué Gold Mine Project Areas
Figure 6: Cross section of Bagoé Ore Reserve pit design with Mineral Resource shell