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● ● EXECUTIVE SUMMARY Perseus has achieved another quarterly gold production record , producing 112,786 ounces of gold , up 10 % on the June 2021 quarter and up 28 % on the March 2021 quarter . ● ● ● Perseus MINING SEPTEMBER 2021 QUARTER REPORT Perseus's Record Quarterly Gold Production Continues Weighted average production cost of US $ 857 per ounce and a weighted average all - in site cost ( AISC ) of US $ 966 per ounce , US $ 81 per ounce or 8 % less than in the last quarter . Table 1 : Operating and Financial Summary ● The Yaouré Gold Mine was the major contributor to the Group's strong quarterly result , producing 64,558 ounces of gold at an AISC of US $ 671 per ounce , generating notional cashflow of US $ 65.8 million . JUNE 2021 QUARTER 102,788 105,468 US $ / ounce 921 US $ / ounce 1,047 Ounces 106,899 Average sales price¹ 1,652 US $ / ounce US $ million Notional Cashflow¹ 62.1 Notes : 1. Includes Yaouré data from 31 March 2021 following declaration of Commercial Production . ● Gold sales increased to 107,650 ounces at an average realised gold price of US $ 1,655 per ounce giving rise to a weighted average cash margin of US $ 689 per ounce of gold produced . PERFORMANCE INDICATOR Gold recovered Gold poured ● Notional cashflow from operations was US $ 77.8 million , US $ 15.7 million or 25 % more than in the June 2021 quarter . Production Cost¹ All - In Site Cost ( AISC ) ¹ Gold sales 21 OCTOBER 2021 NEWS RELEASE MARCH 2021 QUARTER UNIT Ounces Ounces 88,458 86,042 852 999 87,215 1,628 41.2 PERSEUS MINING LIMITED Level 2 , 437 Roberts Road , Subiaco WA 6008 ABN : 27 106 808 986 JUNE 2021 HALF YEAR 191,246 191,510 894 1,030 194,114 1,642 103.3 SEPTEMBER 2021 QUARTER 112,786 110,535 857 966 • Group gold production and AISC market guidance remain unchanged for the December 2021 half year at 225,000 to 255,000 ounces at an ASIC of US $ 925 to US $ 1,025 per ounce . 107,650 1,655 77.8 CALENDAR 2021 YEAR TO DATE 304,032 302,044 880 1,003 301,764 1,647 181.2 At 30 September 2021 , available cash and bullion on hand of US $ 196.2 million and debt of US $ 100.0 million , giving a net cash position of US $ 96.2 million , US $ 40.1 million more than at the end of last quarter . Exploration programmes on the Nkosuo prospect near Edikan and the CMA Underground prospect at Yaouré returned excellent drill results confirming the potential for strong organic growth of the Group's inventory of Mineral Resources and Ore Reserves at each mine . Perseus has continued to strengthen its strong sustainability performance relative to our safety , social and environmental objectives and targets . The fully documented results as well as our approach to maintaining a sustainable business is contained in our third consolidated Sustainability Report covering the period 1 July 2020 to 30 June 2021 . 1