Change to Perseus's Senior Management Team

Perth, Jan. 30, 2023 - CHANGE TO PERSEUS'S SENIOR MANAGEMENT TEAM

Perth, Western Australia/January 30, 2023/Perseus Mining Ltd. (ASX/TSX: PRU) wishes to advise that after seven years of outstanding service, its Chief Operating Officer, Mr Chris Woodall, will retire from the Company with effect from June 30, 2023.

As part of an orderly management transition, Mr David Schummer will join Perseus on February 1, 2023 and, after a period of familiarisation with our West African operations, will assume the role of Chief Operating Officer reporting to the Chief Executive Officer.

Prior to joining Perseus, Mr Schummer has had an impressive career in the mining industry, firstly with Newmont Mining Corporation where, amongst other roles, he held the positions of Vice President - North American Operations based in Nevada, USA and Senior Vice President - African Operations based in Ghana.

In 2018, he relocated to Riyadh, Saudi Arabia to join Ma'aden as Senior Vice President, Ma'aden Gold and Base Metals, a role that has relevance to Perseus's plans to develop the Meyas Sand Gold Project in Sudan.

Perseus's Managing Director and CEO Jeff Quartermaine said:

"It is with sadness that we will shortly farewell Chris Woodall who has worked tirelessly for Perseus as COO for the past seven years. Chris' expertise, energy and infectious enthusiasm has served as an inspiration to our operating teams and he has been an important member of the executive team that has transformed Perseus into the high performing mid-tier gold company that it is today.

"We are also very excited about welcoming Dave Schummer to our ranks. Dave has a very deep knowledge of mining operations and leadership and he will work very well with our operating teams in Ghana, Cote d'Ivoire and, before long, Sudan. We are also looking forward to Dave's contribution to our senior executive team and playing a key role in shaping the Company's future."

This announcement was approved for release by Perseus Mining Ltd.'s Managing Director and CEO, Jeff Quartermaine.

Perseus Mining Ltd. Level 2, 437 Roberts Road, Subiaco WA 6008, ABN: 27 106 808 986