Perseus Mining Limited reported continued exploration success at its Yaouré Gold Mine in Côte d'Ivoire. Perseus focused recent exploration activities on the Yaouré permits at CMA Underground and CMA down-dip extensions within 2 kilometres of the Yaouré mill. Results continue to demonstrate the potential for the Company to materially grow its gold inventory at Yaouré organically, through further drilling success.

Perseus defined an Inferred Mineral Resource of 1.8 million tons grading 6.1 g/t Au, extending to a maximum 275 metre down dip beneath the open pit resource, with potential to extend mineralisation further down dip beyond this. Perseus has also completed a Scoping Study which identified the potential to mine the CMA structure using underground mining methods. Following completion of drilling within the cutback zone of the CMA South open pit, Perseus extended infill drilling north along the CMA structure where grades are generally higher than at the southern end.

Drilling during the last quarter comprised 12,437 metres in 56 reverse circulation ("RC") pre-collared diamond ("DD") holes, infilling the existing 50 x 50 metres coverage to a nominal 25 x 25 metres pattern to allow conversion of the Inferred resource to Indicated. Results continued to provide encouragement, with intercepts generally consistent with those previously encountered in both thickness and grade. Of note has been the presence of 2-3 stacked lodes in places, either as a result of anastomosing of the main lode or structural repetition.

This feature has also been noted in the open pit workings, locally significantly increasing the ounces of gold per vertical metre. The style of mineralisation remains consistent with that encountered previously, comprising pervasive, moderate to strong, pink-pale brown albite and carbonate alteration developed within a well-defined structure marked by quartz carbonate veins, fault veins, multi dilatant fault breccia, cataclasis and shearing. Perseus stepped up drilling to investigate the next 300 metre down-dip from the current CMA Underground resource, with 9,511 metres drilled in 18 RC pre-collared DD holes.

This work focused within the "Magazine Zone" ahead of stocking of the magazine with explosives. The step-out program is also guided by Perseus's early 2020 3D seismic survey that clearly identified the CMA structure extending to depth beyond the current drill coverage. Perseus is undertaking drilling on an initial 100 x 200 metres pattern to better define the position of the CMA structure and the intensity of mineralisation.

If results are encouraging, this will be infilled to 100 x 100 metres to allow an initial Inferred Mineral Resource Estimate.