Retirement of Director From Perseus Mining’s Board

PERTH, Oct. 21, 2019 - Perseus Mining Ltd. (“Perseus” or the “Company”) (TSX & ASX: PRU) wishes to advise that Mr Colin Carson, a founding Director of the Perseus, has decided to retire as an Executive Director of the Company at Perseus’s Annual General Meeting to be held on November 29, 2019.

Since forming the Company in 2004, Mr Carson has served as an executive director. He has performed the full-time role of Executive Director – Commercial for the last 7 years. During his time with Perseus, Colin has accumulated a vast amount of corporate history and knowledge which will not be lost to the Company as he has agreed to continue serving as a part time consultant for the foreseeable future.

Perseus’s Chairman, Mr Sean Harvey said:

“It is with reluctance and sadness that we have accepted Colin’s decision to retire as an Executive Director of Perseus after many years of first-class service to the Company. In his typically selfless manner, Colin has formed the view that with Perseus’s recent successful transition into a successful, multi-mine, multi-jurisdictional gold producer, it is time to make way for new blood to join the Perseus Board and to refresh the skill sets available to guide the Company through its next exciting phase of growth.

I know I speak for all Directors and the management team in sincerely thanking Colin for his guidance and service and his wealth of technical and commercial knowledge and experience that has been invaluable in transforming Perseus from a junior explorer into a highly credible, mid-tier gold producer, developer and explorer.”

For further information, please contact:

Managing Director: Jeff Quartermaine at telephone +61 8 6144 1700 or email jeff.quartermaine@perseusmining.com

General Manager BD & IR: Andrew Grove at telephone +61 8 6144 1700 or email andrew.grove@perseusmining.com

Media Relations: Nathan Ryan at telephone +61 4 20 582 887 or email nathan.ryan@nwrcommunications.com.au (Melbourne)