Perseus Mining Pursues Growth Opportunities at Yaoure Gold Mine

Perth, July 17, 2026 (GLOBE NEWSWIRE) -- PERSEUS MINING PURSUES VALUE CREATING ORGANIC GROWTH OPPORTUNITES AT THE YAOURE GOLD MINE

1. Perth, Western Australia/July 17, 2026/Perseus Mining Limited (ASX/TSX: PRU) is pleased to provide an update on the suite of growth projects being pursued at its Yaouré Gold Project in Côte d’Ivoire, including results from on-going resource definition drilling, deposit reconciliation performance, and planned work programs. Below is a summary of the release. The full report is available at www.perseusmining.com, www.sedarplus.ca and www.asx.com.au.
2. Highlights
   • CMA underground performing well and transitioning to operation.
   • An additional jumbo to be mobilised to increase future ore delivery and develop future underground exploration drill drives
   • Yaouré open pit has identified +24% more metal from the trailing 6 months to March’26 against Reserve model with additional mineralisation domains being defined
   • Drilling at depth and along strike of existing mining areas has strengthened confidence in the potential to extend mine life
   • Extension drilling at CMA underground delivers encouraging results indicating potential extension of mineralisation beyond current defined Mineral Resource.
   • Exploration drilling beyond the boundary fence has produced positive results at both the CMA Southwest and ROZA deposits.
   • $34M committed to drilling in FY27 to increase the Mineral Resource base.
   • The FY27 work plan targets the conversion of Inferred Resources to extend the Yaouré open pit

Competent Person Statement:

The information in this report and the attachments that relate to exploration drilling results for the Yaouré Gold Mine is based on, and fairly represents, information and supporting documentation prepared by Mr Daniel Saunders, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Saunders is a full-time employee of Perseus Mining Limited. Mr Saunders has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’” and to qualify as a “Qualified Person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr Saunders consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to the Mineral Resources and Ore Reserve for the Yaouré Gold Mine was updated by the Company in a market announcement “Perseus Mining updates Mineral Resources and Ore Reserve Estimates” released on 21 August 2025. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in “Technical Report — Yaouré Gold Project, Cote d’Ivoire” dated 18 December 2023 continue to apply.

Caution Regarding Forward Looking Information:

This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of gold, continuing commercial production at the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold Mine without any major disruption, development of a mine at Nyanzaga, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Attachment

• 20260717 TSX_Announcement_Yaoure_Exploration_Update_Growth_Final