Slide 1: ASX cover letter: Investor Presentation
erse D Nee MINING SOUS 7 Jane 2006 The Manager Australian Stock Exchange Ltd Level 4 20 Bridge Street Sydney, NSW 2000 Dear Sir INVESTOR PRESENTATION Perseus Mining Limited's CEO and Managing Director, Mr Mark Calderwood will today commence a series of investor briefings in Europe. A copy of the Com
Slide 2: Advancing Projects in Major Gold Provinces
ASX: PRU www.perseusmining.com ae INING — Advancing Projects in Major Gold Provinces June 2006 =D
Slide 3: Overview
p Perse seagy - | Overview ING CIMTPE eae Perseus Mining listed on the ASX in late 2004 to explore for and develop large gold deposits within regions that host numerous. “World Class” gold deposits. Perseus has built a strong portfol io of exploration projects in West Africa and the Kyrgyz Republic.
Slide 4: Project Locations
Project Locations | AYANFURI 0 200 KANATEGH! KILOMETRES:
Slide 5: Capital & Finances
MIN ye: seus : Listed Sep 2004 Capital & Finances Ord. Shares .31 May.2006 88.88M Options 30.05M Tradeable shares (PRU) 55.45M Tradeable options (PRUO) 19.29M Top 20 . 69.79% * ClG/irectors 29.5% + .-Macquarie Bank 10.4% Cash at hand 1 June “-A$6.3M Monaro Shares & Options A$1.3M Market Cap. 10 Marc
Slide 6: Project summary: Tengrela, Ayanfuri, Tolubay, Savoyardy
M Tengrela - Ivory Coast (80%) Strong results from first pass drilling, two rigs allocated for second half of 2006 . Grumesa - Ayanfuri - Ghana (90%) Feasibility underway, exploration being undertaken to expand 1M oz resource base Tolubay - Kyrgyz Republic (100%) Obdilla, a “Carlin Style” discovery,
Slide 7: Highlights 2005-06
Highlights 2005-06 Jun 2005 - Obdilla discovery. Nov 2005 - Start drilling Obdilla. Nov 2005 - Start drilling Tengrela. Jan 2006 - Sissingue discovery. Feb 2006 - Kanakono discovery. Apr 2006 — Southern Krygyz land holding imcreased_ to 4,846 sq km. May 2006 - Ayanfuri project option.
Slide 8: The Perseus Team
ING Li ri haa ee Perse ed | | _ The Perseus Team ¢ Management and board — Extensive ‘in country’ experience in West Africa (10yrs) and the Kyrgyz Republic (3yrs); — Strong geological credentials — with discovery history (Tarmoola, Moto etc); and — Extensive corporate and ASX experience.
Slide 9: Board of Directors
Perse e(I¢ - Board of Directors ING I cre WEDD. Reg Gillard (Chairman) Public company director for 20. years, current directorships include Caspian Oil & Gas, Pioneer.Nickel, Aspen Group, Lafayette Mining, Tiger Resources, Eneabba Gas. Mark Calderwood (Managing Director) 10 years West African explor
Slide 10: Tengrela - Ivory Coast (80%)
nice 0 vi Located on the border of Ivory Coast and Mali in an area known for: + Large gold deposits, including one of the top mines in the world - Morila (Anglogold Ashanti, Randgold); ¢ A high conversion rate of strong anomalies to gold deposits and gold deposits to mines; + Very high grade mineral
Slide 11: Tengrela - Ivory Coast drilling
~ Perse etic Tengrela - Ivory Coast 'NG LIM inne (80%) : Drilling commenced late Nov 2005 >20, 000m allocated to 8 prospects: * 9,333m completed on 2 prospects totaling 11km strike - P10 drill traverses to date; * Results include 33m* at 11.1g/t, 25m* at 3.2g/t, 4m at 42.6¢/t, 31m* at 1.4g/t Au’ fro
Slide 12: Syama Gold Belt
MINING LIMITED | SYAMA GOLD BELE EVORY COAST: MALL Lnitinniinnninniind? Syama Gold Belt, geologically very similar to the, 100M oz, Ashanti Gold Belt, though less explored . Perseus has access to the lions share of the Syama gold belt and a significant slice of the Ashanti belt ASHANTI GOLD BELT
Slide 13: Central Ashanti - Ghana
ey Pe erses — Central Ashanti - Ghana. Ne Limite | 7 (up to 90%) * Three projects, located in = Ashanti Belt-25-65km from ~ ; = \ Anglogold Ashanti 60Moz ~ Obuasi see _ deposit. ¢ Current J ORC resources 268,0000z Indicated ° 726,0000z Inferred. ¢ Total tenement area of 650 sq km, 70% unexplored. Se
Slide 14: Ayanfuri history and current resources
° ° 306,0000z produced from shallow oxide pits 1994-2001 and heap leach, closed when gold price was.$270 per OZ. Current resources > 268,0000z Indicated 276,0000z Inferred; plus Non JORC classified. Substantial exploration upside. Ayanfuri - Ghana. (option for 90%) South Esuajah: TP ‘Level 16RL
Slide 15: Ayanfuri - Ghana
Ayanfuri - Ghana. (option for 90%) Concepinal Esuajah Pit Design ¢ Existing mining leases, feasibility underway to re-open with CIL. * Good Infrastructure - power, water, haul roads, waste dumps, office, near sealed highway. os \ Mineralisatio a8 * Non refractory granite lodes. * Feasibility 2Mtpa a
Slide 16: Grumesa - Ghana (90%)
Grumesa — Ghana (90%) nT =e * 450,0000z resource, currently considering 2.0Mt - 50,0000zpa heap leach operation. ¢ Reserve drilling partially completed. Potential - for large resource upgrade * Kayeya Gold Prospect registered with EPA, draft environmental impact statement near completion. * Heap lea
Slide 17: Tolubay - Kyrgyz Rep.
Perseas Tolubay = Kyrgyz Rep. MINING LIM 2D. | _ (100%) . Carlin style deposit in ‘olubai Suite Section #51860 Oba, “ Tien Shan, large tonnage axon ad avi potential. TU] advebrestone es, * Obdilla prospect 2,000m » a _ long 50-200m wide. at enetor eae Drill hits include; SBsm @ TRE&4 30m GE Vg 71.7m
Slide 18: Tolubay: new zones identified
¢ New 2km long zone (Chip-Tash Tegerman) identified on strike nice ont VED of Obdilla. ¢ Tolubay trend 3km long, 32m# at 3.7g/t, 20m at 1.9¢/t and 21m at 1.8g/t Au. ¢ Sart-Istagan 2.3km long, 49m# at 0. 8e/t- Au. # Started and ended.in mineralisation (100%) _ Tolubay - Kyrgyz Rep. \sfairam valley ——
Slide 19: Tolubay - Kyrgyz Rep.
Tolubay - Kyrgyz Rep. * Perseus’s Obdilla discovery a confirmed Carlin style deposit. ¢ Carlin deposits typically-occur in clusters. * 4,846 sq km of prospective major thrust belt now held by Perseus in search for similar deposits . « Research and regional exploration commenced, encouraging early re
Slide 20: Savoyardy - Kyrgyz Rep. (100%)
Also located in exceptionally rich Tien Shan gold belt. High grades from recent adit sampling: * 7m @ 12,9g/t; + 2m @ 38.9g/t, 2m @ 37.3g/t. Plans to drill high grade zones to confirm part of high grade Soviet resource. Soil sampling defined a 3.5km long 0.5km wide target zone east of high grade lod
Slide 21: Objectives to Dec 2006
Objectives to Dec 2006 nic avi « Drilling - RAB - 40,000m RC - 40,000m DDH- 10,000m * Spend - (Exploration-Feasibility) July-Dec -AS$5M « JORC Resources (Current --Proposed) Current 268,0000z indicated.726,000 inferred (AMC* = US$30 per.oz) Jun Qtr - Initial-resources from Obdilla Sept Qtr - Resourc
Slide 22: Perseus goals and objectives
ne ou o ” haa 5 By September 2006 Perseus aims to define significant resources on one or more of its five most advanced gold projects, with the further objective that, by December 2006, at least two projects are sufficiently advanced to proceed to feasibility assessment. The longer term goal is to g
Slide 23: MTN
MTN > Drill Pad