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Perseus Mining to start construction of 2nd gold project in Sept ’15 quarter

Côte d’Ivoire – Perseus Mining, the ASX-listed African gold miner, has laid the first stone at its second gold mine, the Sissingué gold mine in Côte d’Ivoire, at a ceremony held on site on Sunday 26 April 2015.

Perseus owns and operates the Edikan gold mine in Ghana.

Subject to finalising debt funding arrangements, Perseus plans to commence construction at Sissingué in the September quarter of 2015 after a revised Feasibility Study found the project to be technically viable, economically robust and strategically compelling.

Perseus MD and CEO Jeff Quartermaine was on site at Sissingué with Prime Minister Kablan Duncan and Minister of Mining and Industry Jean Claude Brou Kassi, to participate in the laying of the first stone ceremony and gave the following address:

“It gives me great pleasure to welcome you here to the site of Perseus’s next gold mine, to witness the laying of the first stone of the Sissingué gold mine. As a company we have been working for many years to advance this project to where it is today.

The Tengrela Project (as it was originally known) was formed 18 years ago in 1997 as a joint venture between Occidental Gold Sarl and Société Minière de Côte d’Ivoire or SOMICI, a company owned by Monsieur Mamadou Berthé for the purpose of applying for and exploring the Tengrela Est exploration permit. In 1998, this permit was granted to Occidental Gold and exploration began. Mr Berthé has been our loyal and patient partner over the journey, and for that I thank him.

Perseus Mining Limited has been sole funding the Tengréla Project since March 2004. Since then Perseus has funded exploration of both the Tengrela East and Tengrela South exploration permits, as well as the Mahale, Mbengue and Napié exploration permits that are also located here in the north of Côte d’Ivoire, not that far from Sissingué.

The Sissingué gold deposit was first drilled by Perseus in late 2005. Since then Perseus has spent nearly USD$47 million in delineating the ore body, designing a project and proving its feasibility, not once but twice, making it one of a very few expl

Now we are in a position where we can look forward with confidence to building and operating a mine at Sissingué that will produce its first gold towards the end of 2016.