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● ● ● EXECUTIVE SUMMARY Record quarterly gold production of 102,788 ounces , up 16 % on the March 2021 quarter and up 50 % on the December 2020 quarter . ● ● Perseus MINING LIMITED ● Table 1 : Operating and Financial Summary ● JUNE 2021 QUARTER REPORT Record quarter for Perseus Half and Full Year gold production exceeds guidance Performance Indicator ● Gold recovered¹ Gold poured¹ Production Cost² All - In Site Cost ( AISC ) ² Gold sales¹ Average sales price² Notional Cashflow² ● Half year gold production of 191,246 ounces¹ and FY2021 gold production of 328,632 ounces¹ , both exceeding the top end of their respective production guidance ranges . Quarterly gold sales increased 23 % to 106,899 ounces at an average realised gold price of US $ 1,652 per ounce , 1.5 % more than the prior quarter . Weighted average all - in site cost ( AISC ) was US $ 1,047 per ounce , US $ 48 more than in the last quarter² . Notional cashflows from operations for the quarter totalled US $ 62.1 million , US $ 20.9 million or 51 % more than in the March 2021 quarter . Unit Ounces Ounces US $ / ounce US $ / ounce Ounces US $ / ounce US $ million December 2020 Half Year 137,386 133,717 868 1,000 127,085 1,643 87.1 Notes : 1. Includes Yaouré data from commencement of operations in December 2020 quarter . 2. Includes Yaouré data from declaration of Commercial Production on 31 March 2021 . March 2021 21 JULY 2021 Quarter 88,458 86,042 852 999 87,215 1,628 41.2 ASX RELEASE June 2021 Quarter 102,788 105,468 921 1,047 106,899 1,652 62.1 June 2021 Half Year 191,246 191,510 894 1,030 194,114 1,642 103.3 2021 Financial Year 328,632 325,227 883 1,016 321,199 1,642 190.4 Half year and financial year AISCs of US $ 1,030 and US $ 1,016 per ounce respectively , both positioned in the lower half of their respective cost guidance ranges . Guidance for gold production and AISC for the December 2021 half year set at 225,000 to 255,000 ounces at a cost of US $ 925 to US $ 1,025 per ounce . Perseus remains on track to achieve its goal of producing more than 500,000 ounces of gold per year at a cash operating margin of not less than US $ 400 per ounce in FY2022 . Available cash and bullion on hand of US $ 156.1 million and debt of US $ 100.0 million , giving a net cash position of US $ 56.1 million at quarter end , US $ 50.3 million more than at the end of last quarter . Exploration programmes continued to generate encouraging results from prospects close to each operating mine , demonstrating potential to organically grow the Group's inventory of Mineral Resources and Ore Reserves . PERSEUSMINING.COM 1