Slide 1: Perseus Mining Virtual Site Visits
2 September 2020 NEWS RELEASE PERSEUS MINING VIRTUAL SITE VISITS Perseus Mining Limited (ASX/TSX: PRU) releases the attached presentations that will be made to participants in the Company’s Virtual Site Visit to each of its West African operations, to be held later today. This document was authorise
Slide 2: Virtual Site Visit Presentation
PERSEUS MINING LIMITED VIRTUAL SITE VISIT PRESENTATION 1. INTRODUCTION 2. EDIKAN 3. SISSINGUÉ 4. YAOURÉ PERSEUS’S CORPORATE OBJECTIVES “To progressively position our business to sustain gold production of approximately 500,000 ounces per year at a cash margin of not less than US$400 per ounce, from
Slide 3: Cautionary Statements
CAUTIONARY STATEMENTS Caution Regarding Forward Looking Information: This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of The information in this report that relates to Mineral Resources and Ore Reserves for Sissingué was first repor
Slide 4: Edikan Management Team
EDIKAN MANAGEMENT TEAM EDIKAN GOLD MINE Stephen Ndede General Manager Andy Amoah Operations Manager Joshua Koffie Mining Manager VIRTUAL SITE VISIT PRESENTATION Zachariah Torgbor Process Manager Steve Ofori Maintenance Manager Alexander Oduro Technical Services Manager Sarfo Kantanka Exploration Man
Slide 5: Edikan – Perseus's First Mine
EDIKAN – PERSEUS’S FIRST MINE Location South West Ghana, 107km south-west by road from Ghana’s second largest city, Kumasi Property Two Mining Licenses - Ayanfuri and Nanankaw, covering 93km2 Ownership 90% Perseus Mining (Ghana) Limited, government of Ghana has a 10% free carried interest History Pr
Slide 6: Edikan Contribution to Perseus Group
EDIKAN CONTRIBUTION TO PERSEUS GROUP FY2020 Production FY2020 Gold Production Notional Cashflow EDIKAN CONTRIBUTION 67% ounces produced Generating half the notional cashflow 67% 51% Approximately half of the Resource / Reserve base of the Group Challenging operation but well managed and generating s
Slide 7: Site Layout
4 Esuajah South #%, j A NS >. Underground = *. ABNABNA A ve SS e Yee. ee Wedikan 7 4 iY Py: 4 ‘Plant \cyania
Slide 8: Operating Overview
OPERATING OVERVIEW COVID-19 • No COVID cases on site • COVID awareness programs and donations to assist the community with COVID prevention measures were undertaken during the quarter • COVID impacts have increased operating costs by approximately US$15/oz MINING • Material movements were in line wi
Slide 9: Operating Overview - continued
OPERATING OVERVIEW - continued PROCESSING • Throughput impacted by harder ore (Fetish) and designed wear on liners (since replaced) • Recovery has improved from the previous quarter but still remains a challenge due to blend of Bokitisi ore and low-grade stockpiles • Bokitisi restricted to maximum 1
Slide 10: Operating Results
OPERATING RESULTS PRODUCTION RESULTS – JUNE QTR 2020 Sept 2019 Dec 2019 Mar 2020 June 2020 June Qtr: 41,281 oz @ AISC US$1,049/oz Parameter Unit FY2020 Quarter Quarter Quarter Quarter Gold Production & Sales FY2020: 171,638 oz @ AISC US$1,082/oz Total material mined: tonnes 6,197,766 6,438,685 6,359
Slide 11: Reserve to Mill Reconciliation - F5
RESERVE TO MILL RECONCILIATION - F5 3 6 RECONCILIATION RESULTS Apr-20 May-20 Jun-20 Jul-20 months months 1 year F1 GC Model/Reserve Continued robust reconciliations from the Tonnes 1.09 1.19 1.11 1.15 1.15 1.09 1.14 Edikan mine – more tonnes at similar grades Grade 0.98 0.96 1.00 0.99 0.98 0.95 0.96
Slide 12: Mine Plan Developments
MINE PLAN DEVELOPMENTS LIFE OF MINE PLAN UPDATE • Edikan Life of Mine was updated in March 2020 using a US$1,300/oz Gold price • Mine Life extended to 7 years • LOM gold production of 1.31Moz at AISC of US$879/oz • Reserves increased 16% to 1.61Moz (45.7Mt @ 1.10g/t gold) • LOM gold production incre
Slide 13: Continuous Improvement FY2020
CONTINUOUS IMPROVEMENT FY2020 CONTINUOUS IMPROVEMENT (CI) Aimed at sustainably lowering AISC ✓ 9 LSS lead facilitators, 1 advisor certificated BROAD ✓ 19/89 ideas log completed. IGS rolled out EMPLOYEE ✓ Big Idea of the Month scheme FY2020 CI program at Edikan has resulted in an ENGAGEMENT ✓ VMCs su
Slide 14: Edikan Community
EDIKAN COMMUNITY EDIKAN TRUST FUND • Perseus contributes US$300,000/year to the Community Development Trust Fund (Edikan Trust Fund or ETF) for the Catchment Communities LAND ACCESS AND RESETTLEMENT • Ayanfuri Kurofofrom now a vibrant community • US$30 million spent on resettlement Phase 1, which in
Slide 15: Health, Safety and Environment
Fetish Main Waste Dump HEALTH, SAFETY AND ENVIRONMENT SAFETY PERFORMANCE • 12 month rolling LTIFR and TRIFR rates of 0.0 and 0.74 (as at 30 June 2020) • 424 days ( 6.2m man hours) since last LTI (to the end of June 2020) HSE FOCUS • Annual HSE refresher training. This is dubbed “Going back to the Ba
Slide 16: Discovery – Breman Artisanal Site
DISCOVERY – BREMAN ARTISANAL SITE WWW.PERSEUSMINING.COM 15
Slide 17: Edikan Exploration
Northern Zone EXPLORATION PROGRAM E D I K A N E X P LO R AT I O N Focus on targets within trucking distance of Edikan with potential to increase LOM Central Zone Updated study of all geological, geophysical, geochemical and drill data completed (CGSG) Systematic exploration of targets generated by s
Slide 18: Exploration – Results
EXPLORATION – RESULTS EXPLORATION RESULTS Drilling at Huntado and Mampong South intersected mineralised granite dykes up to 50m thick – strike extension of AF-Gap – Huntado / Mampong South Drilling Mampong Deposit Fobinso mineralised granite trend M+I+I 6Mt @ 1.0 MPRC233 g/t for 193kozs Significant
Slide 19: Exploration – Forward Program
EXPLORATION – FORWARD PROGRAM FORWARD EXPLORATION PROGRAM Continue drilling of Mampong South BREMAN ARTISANAL SITE prospect and commence drilling at Breman prospect as soon as access is negotiated Extend soil sampling and drone surveys to Agyakusu, Agyakusu-DML & Domenase permits to define drill tar
Slide 20: Questions?
EAMWORK alone we achieve a little, working together we achieve a lot! NTEGRITY we act with consistency, honesty and accuracy in everything we do OMMITMENT. we give our all, every time we do something CHIEVEMENT we do what Wwe say, we deliver on our promises... always
Slide 21: Sissingué Management Team
SISSINGUÉ MANAGEMENT TEAM SISSINGUÉ GOLD MINE Michael Cardinaels General Manager David Lauder Mining Manager Alan Downham Process and Maintenance Manager VIRTUAL SITE VISIT PRESENTATION Adrian Milton HSE Manager Coulibaly Kolotielema HR Manager Adama Kone Community Relations Superintendent Michael C
Slide 22: Sissingué – Punches Above Its Weight
SISSINGUÉ – PUNCHES ABOVE ITS WEIGHT Location 787km north-west of Abidjan on the border with Mali, 230km from to the regional capital Korhogo and 34km from Tengrela Property Exploitation permit PE39 covering an area of 446km2 Ownership 86% Perseus Mining Côte d’Ivoire SA , 4% Société Minière de Côte
Slide 23: Sissingué Contribution to Perseus Group
SISSINGUÉ CONTRIBUTION TO PERSEUS GROUP FY2020 Production FY2020 Gold Production Notional Cashflow SISSINGUÉ CONTRIBUTION 33% ounces produced Generating nearly half the notional cashflow 33% 49% Only 9% of the Resource / Reserve base Highly profitable operation but limited mine life Exore transactio
Slide 24: Sissingué Site Layout
SISSINGUÉ SITE LAYOUT Republic of Mali Sissingué Village
Slide 25: Site Layout
Tengrela SITE LAYOUT Kanakono Fimbiasso Bolona
Slide 26: Operating Overview
OPERATING OVERVIEW COVID-19 • No COVID cases on site or known in the local community • Island State resulting in longer rosters with higher focus on fatigue management, however international flights have recommenced allowing expats to return home for R&R • Using external maintenance and mill reline
Slide 27: Operating Overview - cont
OPERATING OVERVIEW - cont PROCESSING • Excellent mill runtime of 94%, especially considering COVID impacts • Recoveries continue to remain high at between 95% and 96% • Targeting 60% fresh 40% oxide blend to the mill • Ore hardness impacts throughput and increases power demand • Grinding media break
Slide 28: Operating Results
OPERATING RESULTS PRODUCTION RESULTS – JUNE QTR 2020 June Qtr: 23,395 oz @ AISC US$734/oz Sept 2019 Dec 2019 Mar 2020 June 2020 Parameter Unit Quarter Quarter Quarter Quarter FY2020 FY2020: 86,001 oz @ AISC US$753/oz Gold Production & Sales Continued strong operating and cost performance Total mater
Slide 29: Reserve to Mill Reconciliation - F5
RESERVE TO MILL RECONCILIATION - F5 RECONCILIATION RESULTS 3 6 Life of Mine and 12 month reconciliations have Apr-20 May-20 Jun-20 Jul-20 months months 1 year LOM F1 GC Model/Reserve been withing acceptable limits, +/- 3% Tonnes 0.83 0.75 0.88 0.95 0.87 0.88 0.95 0.97 Strong reconciliation performan
Slide 30: Mine Plan Developments
MINE PLAN DEVELOPMENTS LIFE OF MINE PLAN (LOMP) • 3 years based on remaining Reserves • Mining complete at Sissingué pit within 12 months • Haul road construction to Fimbiasso commenced, ~35% complete • Fimbiasso haulage 47km to commence Q2 2021, haulage contract being negotiated • Awaiting final go
Slide 31: Continuous Improvement FY2020
CONTINUOUS IMPROVEMENT FY2020 CONTINUOUS IMPROVEMENT (CI) Aimed at sustainably lowering AISC ✓ 21 developed CI initiatives formalised throughout the ✓ 15 completed business with rigorous evaluation, tracking and PROJECTS ✓ US$3.0m savings realised (125%) evaluation processes ✓ 87% realisation rate F
Slide 32: Sissingué Community
SISSINGUÉ COMMUNITY SISSINGUÉ COMMUNITY DEVELOPMENT FUND • Establishment of Community Development Fund (CDF) for the catchment communities which includes 12 villages • 0.5% of revenue derived from gold sales from the Sissingué mine is directed into the CDF • The CDF is managed by the Comité de Dével
Slide 33: Health, Safety and Environment
HEALTH, SAFETY AND ENVIRONMENT SAFETY PERFORMANCE • 12 month rolling LTIRF and TRIFR rates of 0.0 and 2.01 (as at 30 June 2020) • 406 days since last LTI (to the end on June 2020) ENVIRONMENT • Minimising the environmental impacts is a key focus of our business • Endeavour to comply with ISO 14001:2
Slide 34: Discovery – What Is Down the Road?
DISCOVERY – WHAT IS DOWN THE ROAD? WWW.PERSEUSMINING.COM 33
Slide 35: Sissingué Exploration
SISSINGUÉ EXPLORATION EXPLORATION PROGRAM Commence exploration of Exore ground once scheme completed Targeting geochemical and AC and RC drilling on Kakolo and Tiana shear related targets, with follow up RC and DD anomalies planned Deep holes to be drilled beneath the Kakolo Sissingué Pit to test do
Slide 36: Exploration – Exore
EXPLORATION – EXORE EXORE OVERVIEW Exore’s highly prospective ~2,000km2 land package in northern Côte d’Ivoire is within trucking distance of Perseus’s Sissingué Gold Mine Exore’s tenements host Mineral Resources of 530koz at Bagoe, largely Inferred Transaction secures 100% ownership of the Antoinet
Slide 37: Exploration – Tiana Results
EXPLORATION RESULTS EXPLORATION – TIANA RESULTS Tiana - 3km southwest of Zanikan, drilling targeted 1.7km long artisanal workings and Tiana Drilling gold-in-soil anomalism NNE oriented shear zone similar to Zanikan, cut by oblique quartz veining Wide-spaced drilling returned some spectacular results
Slide 38: Exploration – Kakolo Results
EXPLORATION – KAKOLO RESULTS EXPLORATION RESULTS Kakolo - located 10km south of Sissingué 54 AC holes targeting extensive artisanal workings and gold-in-soil anomalism Significant Intercepts include: • KAC0599 15m @ 1.37g/t from 44m • KAC0604 43m @ 1.96g/t from 28m Ongoing drilling including oriente
Slide 39: Exploration – Forward Program
EXPLORATION – FORWARD PROGRAM FORWARD EXPLORATION PROGRAM Assess and commence exploration of Exore ground once scheme completed Continue drilling at Tiana and Kakolo to better define extent of mineralisation and gain a better understanding of structural controls Drill “Sissingué Deeps” to investigat
Slide 40: Questions?
(a) TEAMWORK alone we achieve alittle, working tether we achieve a lat! we act with consistency, honesty and accuracy in everything we do ~ OMMITMENT we give our all, every time we do something (3) GHIEVEMENT
Slide 41: Yaouré Management Team
YAOURÉ GOLD MINE YAOURÉ MANAGEMENT TEAM CONSTRUCTION: Matthew Scully Group General Manger - Development VIRTUAL SITE VISIT PRESENTATION Ricardo Rodrigues Construction Manager Clem Cox Construction Manager 2IC OPERATIONS: Matthew Scully- Group General Manager Merlin Thomas General Manager Jason Vos M
Slide 42: Yaouré – Perseus's Next Mine
YAOURÉ – PERSEUS’S NEXT MINE Location Central Côte d’Ivoire, 40km northwest of Yamoussoukro, the political capital, and 260km northwest of Abidjan. Property Exploitation permit PE50 covering an area of 50km2, exploration tenure totals an additional 313km2 Ownership 90% Perseus Mining Yaouré SA, the
Slide 43: Yaouré Contribution to Perseus Group
YAOURÉ CONTRIBUTION TO PERSEUS GROUP FY2020 Production FY2020 Gold Production Notional Cashflow YAOURÉ CONTRIBUTION First gold expected at Yaouré in December 2020 Gold Production expected to increase to 40% by 0% 0% FY 2022 40% contribution to Group Resources 45% contribution to Group Reserves Drill
Slide 44: Site Layout
Lake Kossou ce tokie IBOUEKRO - % ah
Slide 45: Project Construction
PROJECT CONSTRUCTION • Full-scale construction commenced in September quarter 2019 • Construction is on time and on budget, despite COVID • On track for ‘stretch target’ of first gold in December 2020, contracted date January 2021 • US$265 million capital budget. As at 31 July 2020, US$212 million c
Slide 46: Project Construction
PROJECT CONSTRUCTION Overall Project progress 72% PROCESS PLANT • Engineering, Procurement and off-site fabrication all 100% complete • Process Plant construction 77% complete: • CIL tanks erected and hydrostatically tested, painting 70% complete • SAG and Ball Mill, ring gears and head end installe
Slide 47: Project Construction
PROJECT CONSTRUCTION OTHER INFRASTRUCTURE • Tailings Storage Facility 86% overall complete, HDPE 62% and TSF decant tower nearing completion. No further risk to the schedule from weather, target completion date late Sept Qtr. • Power supply on track for completion in October 2020 – critical path act
Slide 48: Operational Readiness
OPERATIONAL READINESS • Operational readiness being run from dedicated facilities in Yamoussoukro until space available in mine camp • All expatriate line managers have been recruited and are starting to arrive • In-country recruitment is underway • COVID has not presented too many challenges for re
Slide 49: Mine Plan Developments
MINE PLAN DEVELOPMENTS LIFE OF MINE (LOM) PLAN • Economically attractive - IRR of 30%, 30 months payback at US$1,300/oz gold • Technically robust - 3.3Mtpa plant with average annual gold production of 215,000 ounces at an AISC of US$734/oz for first 5 years • LOM gold production 1.4Moz @ AISC of US$
Slide 50: Yaouré Community
YAOURÉ COMMUNITY YAOURÉ COMMUNITY DEVELOPMENT FUND • A Community Development Fund (CDF) for the catchment communities which includes 5 villages will be established similar to Sissingué • 0.5% of revenue from gold sales at the Yaouré mine will be directed into the CDF for development in the catchment
Slide 51: Health, Safety and Environment
HEALTH, SAFETY AND ENVIRONMENT SAFETY PERFORMANCE • 12 month rolling LTIRF and TRIFR rates of 0.0 and 2.10 (as at 30 June 2020) HSE FOCUS • COVID-19 measures in place including monitoring health of all employees, quarantining, temperature testing prior to site access, increase hygiene protocols • As
Slide 52: Discovery – Only Just Beginning!
DISCOVERY – ONLY JUST BEGINNING! WWW.PERSEUSMINING.COM 51
Slide 53: Exploration – Near Mine Targets
EXPLORATION – NEAR MINE TARGETS EXPLORATION PROGRAM “High-prospectivity corridors” interpreted from geophysics and soil geochemistry Priority targets include: • CMA Underground extensions • Deep drilling • HiSeis 2D & 3D surveys • Extensions of CMA and basin boundary to the NE and NW • Angovia 2 – r
Slide 54: Yaouré Exploration – Results
EXPLORATION PROGRAM YAOURÉ EXPLORATION – RESULTS Sayikro drill intercepts along projected strike of the CMA Southwest structure Sayikro Drilling Sayikro significant intercepts include: • YRC1367 6m @ 1.26g/t from 47m • YRC1368 35m @ 0.79g/t from 55m • YRC1368 19m @ 2.04g/t from 111m • YRC1380 6m @ 1
Slide 55: Yaouré – Underground Potential at CMA
YAOURÉ – UNDERGROUND POTENTIAL AT CMA CMA DEEP DRILLING 1 km 778,500N 3 deep diamond holes drilled to confirm CMA structure at depth and for use in down-hole seismics YDD0539 CMA structure confirmed at target depth in all three holes YDD0539 CMA Yaouré Pit YDD0541 CMA-style mineralisation 777,000N P
Slide 56: Exploration – Regional Targets
EXPLORATION – REGIONAL TARGETS EXPLORATION PROGRAM Soil geochemistry used almost exclusively in previous targeting ‘High-prospectivity corridors’ defined from geophysics (mags, spec) High resolution VTEMTM survey recently flown – currently being interpreted Integration of geochemical and geophysical
Slide 57: Exploration – Forward Program
EXPLORATION – FORWARD PROGRAM FORWARD EXPLORATION PROGRAM Preliminary 3D Seismic Section Complete drill-out of CMA SW – Sayikro zone Complete initial aircore testing of Allekran and Degbezere prospects Complete processing and interpretation of 2D and 3D seismic data Commence drill testing of CMA ‘de
Slide 58: Questions?
a) EAMWORK, lone we achieved litte, Working ingether we achieve alot! NTEGRITY we act with consistency, honesty and accuracy in everything we do >) COMMITMENT we give our allpeyery time we dagomething - CHIEVEMENT we do what we sayi@ deliver om Our promises... always