Perseus Updates Mineral Resources and Ore Reserve Estimates

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Postmedia has not reviewed the content. by GlobeNewswire Perseus Updates Mineral Resources and Ore Reserve EstimatesAuthor of the article:Last updated 5 minutes ago Perth, Western Australia, Aug. 26, 2026 (GLOBE NEWSWIRE) — PERSEUSMININGUPDATESMINERALRESOURCESAND ORE RESERVE ESTIMATESTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountMeasured and Indicated (M&I) Mineral Resources now total 10.6 Moz gold reflecting a 2.9 Moz or 37% increaseProved and Probable Ore Reserves for the Group now total 7.0 Moz gold representing a 2.0 Moz or 40% increaseYaouré Ore Reserves increased by 217 koz or 15%Edikan M&I Mineral Resources increased by 834 koz or 54%Nyanzaga Ore Reserves increased by 1,767 koz or 75% since June 2025 Ore ReserveGet the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againPerth, Western Australia/ August 26, 2026/ Perseus Mining Limited (ASX/TSX: PRU) is pleased to update estimates of its Mineral Resources and Ore Reserves as of 30 June 2026. A summary of the release is included below. For the full release please refer to www.perseusmining.com, www.asx.com.au or www.sedarplus.ca.The Perseus Group’s Measured and Indicated (M&I) Mineral Resources now total 10.6 Moz gold reflecting a 2.9Mozor37% increase against the 2025 M&I Mineral Resources (Table 1).Proved and Probable Ore Reserves for the Group now total 7.0 Moz gold representing a 2.0Mozor40%increase against the 2025 Ore Reserve (Table 2).The sources of change underlying the 2.0 Moz gold increase in Perseus’s estimate of Ore Reserves against those reported at 30 June 2025 are presented in Figure 1. As part of its annual planning cycle, the Company has reassessed the growth opportunities available within its portfolio with the approach of optimising the portfolio rather than focussing on fixed investment targets for each asset. In this way, the Company has sought to find the balance between investment in growth opportunities and the cash margin generated by the business.Figure1:ChangeinPerseusGroupOreReserves byProject–June2025toJune2026Table1:PerseusMiningMineralResources1,2,4PROJECTMEASURED RESOURCESINDICATED RESOURCESMEASURED & INDICATEDRESOURCESINFERRED RESOURCESQUANTITYGRADEGOLDQUANTITYGRADEGOLDQUANTITYGRADEGOLDQUANTITYGRADEGOLDMtg/t gold’000 ozMtg/t gold‘000 ozMtg/t gold’000 ozMtg/t gold’000 ozEdikan21.20.8960468.20.881,92389.40.882,52816.71.0544Sissingué31.71.236610.81.3747512.51.355412.11.064Yaouré12.40.7329245.61.752,56558.11.532,85732.31.51,591Nyanzaga–––110.41.334,715110.41.334,7156.51.6343Total35.30.85963234.91.289,677270.31.2210,64057.51.42,542Table2:PerseusMiningOreReserve1,4PROJECTPROVEDPROBABLEPROVED & PROBABLEQUANTITYGRADEGOLDQUANTITYGRADEGOLDQUANTITYGRADEGOLDMtg/t gold’000 ozMtg/t gold’000 ozMtg/t gold’000 ozEdikan12.70.8735520.20.9964332.90.94998Sissingué31.01.34434.11.431905.11.41233Yaouré12.40.7329229.11.461,36941.51.241,661Nyanzaga–––95.71.334,10995.71.344,109Total26.10.82690149.11.326,312175.21.247,001This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Notes for Table 1 and Table 2:Refer to Notes to individual tables of Mineral Resources and Ore Reserves in respect of each project presented below.Measured and Indicated Mineral Resources are reported inclusive of Ore Reserves.Sissingué Mineral Resources and Ore Reserves include the Fimbiasso and Bagoé Projects in addition to the Sissingué Gold Mine.The Company holds 90% of Edikan Gold Mine (EGM) and Yaouré Gold Mine (YGM), 86% of Sissingué Gold Mine (SGM) except Bagoé at 90%, and 80% of Nyanzaga Gold Project (NGP).PERSEUS’SMINERALRESOURCEESTIMATESThe Perseus Group’s total M&I Mineral Resources reported as at 30 June 2026 are estimated to be 270.3 Mt grading 1.22 g/t gold, containing 10.6 Moz of gold, compared with the estimate of 30 June 2025 of 185.9 Mt grading at 1.30 g/t Au for 7.8 Moz of gold. The Mineral Resource Statement accounts for mining depletion of in-situ Mineral Resources and is reported inclusive of Ore Reserves. Inferred Resources are 57.5 Mt grading at 1.4 g/t Au for 2.5 Moz of gold, compared with the estimate of 30 June 2025 of 39.9 Mt grading at 1.5 g/t Au for 1.9 Moz of gold. Tonnes are reported as dry metric tonnes. All tabulated tonnes, grade and metal have been rounded to reflect appropriate precision in the estimate and may cause some discrepancies in totals. In March 2026 Perseus announced the sale of the Meyas Sand Gold Project (MSGP) in Sudan (see news release titled “Perseus announces sale of Group interest in Meyas Sand Project in Sudan” dated 16 March 2026). This was previously quoted as a Foreign/Historical Estimate, and with Perseus’s sale of all interest, has been removed from reporting in this release.The Group Mineral Resource estimates are reported in accordance with the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code 2012). The classification categories of Measured, Indicated and Inferred under the JORC Code (2012) are equivalent to the CIM categories of the same names (CIM, 2014).For the purpose of satisfying “reasonable prospects for eventual extraction” (JORC Code 2012), open pit Mineral Resources are reported above optimised open pit shells developed with actual and estimated operating costs, geotechnical and metallurgical parameters, and a long-term gold price assumption of US$3,300 per ounce, with the exception of Nyanzaga reported at US$2,700 per ounce. Underground Mineral Resources at CMA are constrained to below the CMA open pit and reported at a 1.5 g/t Au cut-off. Underground Mineral Resources at Edikan are constrained to a depth of 700 mRL at Esuajah South and are all exclusive of open pit Mineral Resources.Technical Reports associated with these Mineral Resources, have been prepared in accordance with NI 43-101 for the following operations:Nyanzaga Gold Project, Tanzania, NI 43-101 Technical Report, dated 10 June 2025Yaouré Operations, Côte d’Ivoire, NI 43-101 Technical Report, dated 18 December 2023Edikan Operations, Ghana, NI 43-101 Technical Report, dated 6 April 2022Sissingué Operations, Côte d’Ivoire, NI 43-101 Technical Report, dated 29 May 2015These reports can be found on Perseus’s website at www.perseusmining.com and on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) website www.sedarplus.ca.PERSEUS’SORERESERVEESTIMATECRITERIAFORORERESERVECLASSIFICATIONAll Ore Reserves are reported in accordance with the JORC Code (2012) and are reported by category, deposit and type, above variable cut-off grades. The classification categories of Proved and Probable under the JORC Code (2012) are equivalent to the CIM categories Proven and Probable respectively (CIM, 2010).The Ore Reserve is classified as Proved and Probable corresponding to the Mineral Resource classifications of M&I and considering other factors where relevant. The deposits’ geological models are well constrained. The Ore Reserve classification is considered appropriate given the nature of the deposits, the moderate grade variability, drilling density, structural complexity, confidence in input parameters based on operational experience, and mining history. It was therefore considered appropriate to use Measured Mineral Resources as a basis for Proved Ore Reserves and Indicated Mineral Resources as a basis for Probable Ore Reserves.No Inferred Mineral Resources were included in the Ore Reserve estimate, with the exception of 2.8 koz of incidental Inferred which is included in the CMA Underground development and is not considered material to the Ore Reserve.AllOreReservesandMineralResourceswerecalculatedasof30June2026andhavebeencalculatedandpreparedinaccordancewiththestandardssetoutin theAustralasian CodeforReporting of Exploration Results,Mineral Resources and OreReservesdated December2012 (the“JORCCode”) and in accordancewith National Instrument 43-101 of the Canadian Securities Administrators (“NI 43-101”). The JORC Code is the accepted reporting standardfor the AustralianStock Exchange Limited (“ASX”).The definitions of Ore Reserves and Mineral Resources as set forth in the JORC Code (2012) have been reconciled to the definitions set forth in the CIMDefinitionStandards. Ifthe MineralReserves andMineralResources were estimatedinaccordance with the definitions in the JORC Code, there would be nosubstantivedifferenceinsuchMineral ReservesandMineralResources.COMPETENTPERSONSTATEMENT:TheinformationinthisreportthatrelatestoMineralResourcesisbasedon,andfairlyrepresents,informationandsupportingdocumentationpreparedbyDanielSaunders,aCompetentPersonwhoisaFellowofTheAustralasianInstitute ofMiningandMetallurgy.MrSaunders isafull-timeemployeeofPerseusMiningLimited.MrSaundershassufficientexperience,whichisrelevanttothestyleofmineralisationandtypeofdepositunderconsiderationandtotheactivitybeingundertaken,toqualifyasaCompetentPersonasdefinedinthe2012Editionofthe‘AustralasianCodeforReportingofExplorationResults,MineralResourcesandOreReserves’”andtoqualifyasa“QualifiedPerson”underNationalInstrument43-101–StandardsofDisclosureforMineralProjects(“NI43-101”).MrSaundersconsentstotheinclusioninthereportofthemattersbasedonhisinformationintheformandcontextinwhichitappears.Theinformationinthisreportthatrelates toOre Reserves is basedoninformationcompiledbyMr AdrianRalph, aCompetent Personwhois aFellow ofTheAustralasianInstituteofMiningandMetallurgy.MrRalphisafull-timeemployeeofPerseusMiningLimited.MrRalphhassufficientexperiencewhichisrelevanttothestyleofmineralisationandtype ofdepositunderconsiderationandtotheactivitieswhichhe is undertakingtoqualifyas aCompetentPersonasdefinedinthe2012Editionofthe“AustralasianCode forReportingofExplorationResults,MineralResourcesandOreReserves”andaQualifiedPersonasdefinedinNI43-101.MrRalphconsentstotheinclusioninthisreportofthemattersbasedonhisinformationintheformandcontextinwhichitappears.The Company confirms that the material assumptions underpinningthe estimates of Ore Reserves describedin “Technical Report —Edikan Gold Mine,Ghana”dated6April2022,“TechnicalReport —YaouréGoldProject,Côted’Ivoire”dated18December2023,“TechnicalReport—SissinguéGoldProject,Côted’Ivoire”dated29May2015,and“TechnicalReport—NyanzagaGoldProject,Tanzania”dated10June2025continuetoapply.CAUTIONREGARDINGFORWARDLOOKINGINFORMATION:Thisreportcontainsforward-lookinginformationwhichisbasedontheassumptions,estimates,analysisandopinionsofmanagementmadeinlightofitsexperience and its perception of trends, currentconditions andexpected developments, as well asother factors that management of theCompany believestoberelevantandreasonableinthecircumstancesatthedatethatsuchstatementsaremade,butwhichmayprovetobeincorrect.AssumptionshavebeenmadebytheCompanyregarding,amongotherthings:thepriceofgold,continuingcommercialproductionattheYaouréGoldMine,theEdikanGoldMineandthe Sissingué Gold Mine withoutany major disruption, development ofa mine at Nyanzaga, the receipt of required governmental approvals, the accuracyofcapitalandoperatingcostestimates,theabilityoftheCompanytooperateinasafe,efficientandeffectivemannerandtheabilityoftheCompanytoobtainfinancingasandwhenrequiredandonreasonableterms.ReadersarecautionedthattheforegoinglistisnotexhaustiveofallfactorsandassumptionswhichmayhavebeenusedbytheCompany.Althoughmanagementbelieves thattheassumptionsmadebytheCompanyandtheexpectationsrepresentedbysuchinformationarereasonable,therecanbe noassurance thattheforward-lookinginformationwillprove tobeaccurate.Forward-lookinginformationinvolvesknownandunknownrisks,uncertainties,andotherfactorswhichmaycausetheactualresults,performanceorachievementsoftheCompany tobematerially different fromany anticipated future results, performance or achievements expressed orimpliedby suchforward-looking information. Such factorsinclude,amongothers,theactualmarketpriceofgold,theactualresultsofcurrentexploration,theactualresultsoffutureexploration,changesinprojectparametersas planscontinuetobeevaluated, aswellas thosefactors disclosedin theCompany’spublicly filed documents. Readersshouldnot placeunduerelianceon forward-looking information.Perseus doesnot undertake toupdate anyforward-looking information,except in accordancewith applicablesecuritieslaws.CAPITALSTRUCTURE:Ordinary shares: 1,327,131,493Performance rights: 5,613,211Level 2437 Roberts RoadSubiaco WA 6008Telephone: +61 8 6144 1700Non-ExecutiveChairman Rick MenellManagingDirector&CEO Craig JonesNon-ExecutiveDirectors Amber BanfieldElissa Cornelius Dan Lougher John McGloin Tommy McKeith Jim RutherfordCraigJonesManagingDirector&CEOcraig.jones@perseusmining.comStephenFormanInvestorRelations+61 484 036 681stephen.forman@perseusmining.comNotice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.