Slide 1: Targeting +400,000oz Gold Production From 2014
For personal use only Targeting +400,000oz Gold Production From 2014 August 2012 Mark Calderwood CEO
Slide 2: Competent Person's Statement and Forward-Looking Statements
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 Chartered Professional Member of The Australasian Institute of Mining and Metallurgy. Mr Calderwood is
Slide 3: Perseus the Company
Perseus the Company Track Record; = / = / ¢ Exploration - 16 Years in West Africa discovered 9Moz > * Development — Edikan Gold Mine built on time & on budget ) * Production - Evolved into a miner and producer in past 18 | months i Large, low risk (open pit and free milling) high-margin projects 2nd
Slide 4: Targeting low total cost and high IRR projects
Targeting low Total Cost* (S900) and high /RR (+30%) projects to maximise return Continuous optimisation of existing projects Reduce risk - Experienced team, focus, steady growth, low gearing Corporate responsibility, building a long term presence in West Africa Total Cost* defined as exploration-ac
Slide 5: Capital Structure
TY A Aut = JAN) Capital Structure Shares on Issue Unlisted Options (avg. AS2.96) June 30 2012 Financials FY2012 Profit (after tax) Cash (30 June ‘12) +Bullion (30 June ‘12) Total Borrowings As at June 30 2012, hedging 190koz over 3 years at avg. $1,256/oz, represents 5% of reserves 90-day share turn
Slide 6: 7.0Moz in M&I Resources
7.0Moz (87% in Ghana) in M&I Resources (197Mt at 1.1g/t) Including 4.0Moz (84% in Ghana) in Reserves (104Mt at 1.2g/t) Additional 2.2Moz (88% in Ghana) in Inferred Resources (74Mt at 0.9g/t) Updates Céte d’lvoire — Q2, 2012 Ghana — Q2, 2013 Rounding applied, see pages 23,24 for details
Slide 7: For personal use only
For personal use only
Slide 8: Ashanti Belt
Ashanti Belt (— > 650 sq km total holding in rich Ashanti gold belt Edikan Gold Mine, Grumesa Meas. & Ind. 6.1Moz -182Mt Inf. 2.0Moz - 67Mt Significant exploration upside - years of drilling ahead |
Slide 9: Edikan deposits and resources map
ESUAJAH SOUTH ABNABNA FOBINSO | BOKITSI Mill sit? 77 2: y Resources © Current Production Pits
Slide 10: For personal use only
For personal use only
Slide 11: Edikan Gold Mine
Edikan Gold Mi Large deposits - 80m wide ore bodies bulk mineable Open pit operations (W:O 3.4:1 ) Large mill, ramping up to 8mtpa Low cost, low consumer of power, cyanide, grinding, media Favourable recovery at coarse grind, currently 85%- 90%, increasing to 92% as oxides reduce Resources, M&I 5.6M
Slide 12: EGM - June Quarter Operating Highlights
EGM - June Quarter Operating Highlights » Mining = 3.7Mbcm of ore and waste mined 2.1Mt of ore at 1.2g/t Au (down 6%) « Ore stockpile increased to 3.6Mt at 0.8g/t containing 90Koz of gold Mining cost average USS2.70/t of material Processing » 1,15Mt treated (up 12 %) 52,6700z produced (up 36%) » Rec
Slide 13: Edikan Gold Mine - Guidance
OF Dersam= Edikan Gold Mine - Guidance laseecuniza) [pei] uanstunz) Throughput (dry Mt) 1,450,000 1,700,000 3,600,000 Head grade 1.39g/t 1.43g/t 1.24g/t Gold recovered (02) 55,000-60,000 65,000 - 70,000 125,000 - 135,000 Adjusted C1 cash cost $575 $575 $625 (USS/o0z) Overheads Approximate unit costs
Slide 14: Edikan Gold Mine Simplified Flow Sheet
Edikan Gold Mine Simplified Flow Sheet 1,200tph capacity Fresh Rock Coarse 1,000tph capacity 400tph capacity 212 micron Flotation Tails FLOTATION 14MW SAG mill, Currently using 12MW. Current milling 750-900tph Flotati trate 35g/t-120g/t r lotation concentrate 35¢/t-120g Ramping up to 1,100tph curren
Slide 15: Environment, OH&S, Host Communities
Environment OH&S Host Communities Employee training & benefits ‘Australia-Africa Mining Industry Group AAMIG @¥)
Slide 16: Perseus the Explorer
Meas. Perseus the Explorer »~ Ma&l Resource Growth ~5.8Moz in 4 years : : P&P Reserve Growth ~4.2Moz in 3 years* *Updates Céte d’lvoire — Q4, 2012 Inferred &Ind. Reserves Tengrela | | | Ghana || | |ooad a 2005 2006 2007 2008 2009 2010 2011
Slide 17: Perseus Licences - Cote d'Ivoire
Perseus Licences - Cote d'Ivoire ~3000 sq km Under explored Sissingué Resource: 0.93Moz M&l; 0.26Moz Inf. Reserve: 0.66Moz Tengrela TENGRELA PROJECT Significant intercepts on multiple prospects Mbengue, Napié Preparing to drill Underexplored Excellent upside potential
Slide 18: Sissingué Gold Project Status
Sissingué Gold Project Status Permitting Completed * Environmental and Social Impact Assessment approved by Ivorian National Environmental Agency (ANDE) * Exploitation Permit granted August 2012 Detailed design/tenders * Detailed design approximately 90% complete * All key equipment selected and pri
Slide 19: Sissingue Processing Plant
Sissingue Processing Plant Capital budget US$115M (Nov 2010 estimate) * Tendered equipment prices in line with expectations * Optional additional US$33M for HV power line to connect the mine to national power grid. * Project expenditure to date totals USS9.2 million * Preparation underway for early
Slide 20: Sissingué Feasibility
Sissingué Feasibility Reserve Target Cash Cost* (C1) 657koz 340koz US$421/0z at USS$950 gold price in first 2 years in first two years 3.5Mt at 3.5¢/t Au L | r 1 First 6 months Next 12 months Next 30 months 700kt at 2.0g/t 1,760kt at 4.52¢/t Au 2.0g/t commissioning Additional reserves over the next
Slide 21: Perseus The Future
Perseus The Future Ramp up Edikan Gold Mine - increase throughput beyond name plate and continue to grow reserves Develop and grow Sissingué - bring mine into production in 2013, currently stepping up exploration and resource/reserve drilling on Sissingué and satellite prospects Exploration experien
Slide 22: Mineral Resources
Mineral Resources Mineral Resources (Gold) Including Reserves Edikan Gold Mine 49.5 1.5 2,378 38.2 1.3 1,813 24.9 1.4 1,111 >0.8g/t Edikan Gold Mine 34.2 0.7 718 34.5 0.6 706 25.7 0.7 602 0.4g/t - 0.8g/t Grumesa 25.1 0.6 471 16.4 0.5 247 >0.4 Tengrela 0.9 3.2 90 9.1 2.5 706 3.3 1.7 171 >1.0g/t Tengr
Slide 23: Mineral Reserves
Mineral Reserves_ Mineral Reserves (Gold) Edikan >0.4g/t 64.6 1.2 2,417 29.2 1.0 961 93.8 11 3,378 Tengrela >0.55g/t 9.7 2.1 657 9.7 2.1 657 Total 64.6 1.2 2,417 38.9 1.3 1,618 103.5 1.2 4,035 Notes *As at December 2010; +Edikan >0.4g/t Au cut-off for Abnabna-Fobinso, >0.5g/t Au cut-off for all othe
Slide 24: EGM Section - High-grade & Low-grade zones
EGM Section - High-grade & Low-grade zones Esuajah South pee seat Section 6,300N a Fetish {) Granite vA Section 5,240N 24
Slide 25: Sissingue Section
Sissingue Section 33m incl, Tim i 3.6g/t 8.3git 32m 48m @ 0.9g/t 1.3git 4m @ 1.7g/t 8m @ 1.6g/t 47m @ 34g) 3m @ 1.3g/t 45m @ 2.3git' 10m @ 2.7g/ 110m @ 4.0g/t incl. 16m @ 11.3g/t 8m @ 1.0g/t 6m @ 475g/t 320mRL. 10m @ 4.5g/t om @ 1.89) gents 2m @ 25.0g/t 9m @ 0.6g/t (0m @ 1.6g/t — 240mRL 40m — Sissin
Slide 26: Cluster Target Analysis - Eastern Group, Edikan
Cluster Target Analysis - Eastern Group, Edikan GRADIENT IP/Resistivity - Cluster Analysis Legend Very Low Resistivity and Chargeability; Graphitic or carbonaceous. 6 > metasediments. The high-pass filtered Resistivity is generally high, possibly indicating the presence of resistive axes at depth (i