Slide 1: West Africa's Next Large Gold Producer
For personal use only ASX/TSX: PRU www.perseusmining.com West Africa Africa’ss Next Large g Gold Producer Mark Calderwood M Managing i Director Di t March 2011
Slide 2: Competent Person's Statement and Forward-Looking Statements
For personal use only Competent Person’s Statement Information in this presentation that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Mark Calderwood, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Calderwood is
Slide 3: Introduction: Closing in on Production
Introduction For personal use only Closing in on Production Perseus the Company Perseus the Miner Perseus the Explorer p Perseus the Future
Slide 4: "Elephant Country"
“Elephant Country” For personal use only TENGRELA 1. Obusai 60Moz+ 2. Tarkwa 40Moz+ 3. Ahafo 17Moz+ 4. Prestia‐Bogusu 13Moz+ 5 Loulo 5. 12Moz+ 6. Sadiola‐Yatela 8Moz+ 7. Lero 8Moz+ ASHANTI BELT (CAGP, Grumesa) 8. Akyem 8Moz+ 9. Syama 7Moz+ 10. Morila 7Moz+ 11. Siguiri 7Moz+ 12 Bibiani 12. 7Moz+
Slide 5: Gold Resources & Reserves – Capital Structure
Gold Resources & Reserves – Capital Structure For personal use only 5.7Moz (84% in Ghana) i M&I R in Resources (159.8Mt (159 8M at 1.1g/t) 11 / ) Including 3 9M 3.9Moz (83% in Ghana) in Reserves (96.6Mt at 1.3g/t) ....................................................................... Additional 2.2
Slide 6: Forecast FY2010-11
Forecast FY2010‐11 For personal use only Forecast January – July 2011 US$ Cash 31/12/2010 89M Undrawn Debt 85M Less expenditure CAGP Capital & Pre‐commercial 75M operating p g Exploration/Evaluation 15M Sissingue g Development p ((earlyy works ) 3M Corporate 6M Forecast Balance 30/6/2011 75M
Slide 7: Perseus Ghana: Ashanti Belt Projects
Perseus Ghana: Ashanti Belt Projects CAGP For personal use only Measured & 4.3Moz 4 3Moz Indicated Resources including: CAGP Grumesa Proven & Probable 3.3Moz Reserves IInferred f d Resource 1.7Moz p Next update Q Q3 2011 Grumesa Measured & Indicated 0.5Moz Resources
Slide 8: CAGP (Ayanfuri)
CAGP (Ayanfuri) Targets For personal use only Reserves 2009 2Moz 2010 3Moz 2011 4Moz Mill Site Production Phase 1: 2011 +200 000ozpa +200,000ozpa Phase 2: 2013 ~300,000ozpa Exploration 1 discovery p.a.
Slide 9: Straight Forward Operation
Straight Forward Operation For personal use only Mining Low Strip Ratio ‐ 2.8:1 Wide ore bodies ‐ ~80m, low selectivity Contract mining Target 8 Mt ore year 1 P Processing i (5.5Mtpa (5 5Mt ‐ 8Mtpa) 8Mt ) Free milling ore ‐ clean granite, gold in stockwork veins. All new equipment Crushing & grindin
Slide 10: Process: Gravity-Float-CIL
Process: Gravity‐Float‐CIL Gyratory G t crusher h SAG ‐ 34’ Knelson K l For personal use only ‐ 54” 14MW (P80 212 microns) concentrator 25% of gold Float cells 7 x 70m3 97% to FTSF ILR 15,000 ‐ 22,000tpd Clean tails 3% (concentrate) 66% of gold Gold room Power 20kw/t Regrind ball mill NaCN 0.16kg/t
Slide 11: Construction Progress
Construction Progress For personal use only
Slide 12: Construction Progress
Construction Progress For personal use only
Slide 13: Construction Progress
Construction Progress For personal use only
Slide 14: Perseus the Explorer: Ghana Tengrela
Perseus the Explorer For personal use only 8 Ghana Tengrela Inferred M&I Resource Growth 7 Meas. & Ind. ~1 6M ~1.6Mozpa iin 3 years 6 Reserves 5 P&P Reserve Growth 4 ~2.0Mozpa in 2 years 3 2 1 Moz M 2005 2006 2007 2008 2009 2010
Slide 15: Perseus the Explorer
Perseus the Explorer For personal use only 70Moz TENGRELA ASHANTI BELT (CAGP Grumesa) (CAGP, 170Moz
Slide 16: Perseus Ivory Coast: Sissingue
Perseus Ivory Coast For personal use only Sissingue g 0.9Moz M&I (15.2Mt) Inferred 0.3Moz 0.66Moz Reserve (9 7Mt) (9.7Mt) Exploration Discoveries 2010: Kanakono Podio
Slide 17: Growth - Ivory Coast
Growth ‐ Ivory Coast For personal use only Targets Reserves Sissingue 2011 1 0Moz 1.0Moz 2012 1.5Moz P d ti Production Phase 1: 2013 178 000oz year 1 178,000oz 162,000oz year 2 Exploration Drilling 2011: , 150,000m
Slide 18: Tengrela Gold Project Feasibility
Tengrela Gold Project Feasibility For personal use only Nov 2010 657 000oz 657,000oz Initial Probable Ore Reserve In the first 2 years: Production: 340,000oz 340 000oz LOM: 5.6 years Cash costs: US$421/oz LOM: US$505/oz EBITDA: US$221M at US$1,100 Au
Slide 19: Perseus the Future - Robust Production
Perseus the Future ‐ Robust Production For personal use only 500 EBITDA Targets (US$) $1200 gold price ngrela 400 cash cost $540 /oz Ten (at project level, after royalties) 300 00 oz 2011 ‐ $ 50M X 100 200 2012 ‐ $180M P CAGP $ 2013 ‐ $300M 100 2014 ‐ $300M 0 2010 2011 2012 2013 2014 Tengrela produc
Slide 20: Perseus the Future - Other Assets
Perseus the Future ‐ Other Assets For personal use only 19% 24% (29% fully diluted) (1.08Moz Gold) (1.13Moz Gold) FD market cap FD market cap $130M $60M
Slide 21: Contact details
For personal use only ASX/TSX: PRU www.perseusmining.com M k Calderwood Mark C ld d Nathan h Ryan Managing Director Investor Relations +61 8 9240 6344 +61 420 582 887 Rebecca Greco Investor Relations +1 416 822 6483