Company Information for Perseus Mining Ltd

ASX-PRU; BERLIN-A0B7MN; FRANKFURT-P4Q

www.perseusmining.com

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ASX; PRU

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Company Statement

Perseus Mining Limited
After listing on the Australian Securities Exchange in 2004, Perseus Mining Limited (ASX Code: PRU) has forged a reputation as one of the most successful exploration companies in the world.

Perseus focuses on under-explored gold belts that host 'world class' gold deposits. The Company has been extremely successful in West Africa and Central Asia, locating large deposits in Ghana, Ivory Coast and Kyrgyz Republic. Perseus has demonstrated a credible track record of resource growth.

The Company has almost reached its 2008 goal of increasing its West African resources to 5 million ounces and is now targeting 8 million ounces with reserves to 4 million by the end of 2009.

Perseus is arguably one of the most active explorers in West Africa with plans for 160,000m of drilling in 2008.

A detailed feasibility study is underway at its large Ayanfuri Project and is expected to be completed by the end of 2008.

Vision
Perseus aims to significantly increase its gold resource base through rapid exploration of existing projects and acquisition of additional projects.

The Company hopes to start its first mining operation in late 2010 and plans on having multiple operations in West Africa.

Mission
Perseus is a gold explorer focussing in West Africa. It has specific exploration programs, budgets and joint ventures in place to maximise the likelihood of discoveries and progress towards gold production.

Current Operations

Perseus was floated in September 2004 to acquire, explore and develop several significant advanced gold projects located in West Africa and Central Asia.

Perseus has targeted regions which:

have numerous "World Class" (over 100 tonnes) gold deposits;
have significant existing gold production and growing reserve inventories;
remain amongst the least explored by modern techniques; and
include countries in which the Directors and Perseus staff have substantial experience, so Perseus will not be affected by the "learning curve" usually associated with offshore exploration and development.

Ghana
The Ashanti gold belt in Ghana has for more than a decade been one of the world's most prolific in terms of gold discoveries and production growth. Recent successes by Newmont Mining Corporation, Golden Star Resources Ltd, St Jude Resources Ltd and Adamus Resources Ltd have shown that the new wave of discoveries is on prospects originally identified in the mid 1990s. In a short period, Newmont's assets in Ghana have become a major focus for that company with over 16 million ounces of reserves identified in two projects.

Perseus has several projects, totaling 650 square kilometres, in the Ashanti Gold Belt in Ghana. Collectively, it is known as the Central Ashanti Gold Projects.

Ayanfuri
The Ayanfuri Mine Licences are situated on the Ashanti Belt, 25-65km south west of the 60 million ounce Obuasi gold deposit.

Resource / Reserve Potential
Since acquiring an option over the Ayanfuri project in June 2006, Perseus increased gold resources from 608,000 oz (indicated 268,000 oz; inferred 340,000 oz) to 3.9Moz (indicated 1,718,500 oz; inferred 2,211,800 oz) by April 2008. Drilling is ongoing and the Company has commenced a detailed feasibility study for a CIL mining operation.

Gold mineralisation at Ayanfuri occurs in quartz veins, stringers, stockworks and is disseminated in:

1.altered metagranodiorite intrusive bodies; and
2.typical "Ashanti" style shear zones within metavolcaniclastics.

The Ayanfuri gold mine produced over 300,000oz of gold from a shall oxide heap leach operation which commenced in 1994 - 23 shallow pits were mined, with most production from six granitoid intrusive orebodies ranging from 200m to 500m long and 30m to 120m wide.

Grumesa
The Grumesa-Awisam project (39 sq km) is located within the highly prospective Ashanti gold belt of south west Ghana, 30km south east of the 60Moz Obuasi gold mine. The project is situated within the Tarkwaian Series sediments.

With indicated (195,000 oz) and inferred (619,000 oz) gold resources totalling 814,000 oz, indications are that the low grade Kayeya project can be developed as a low capital cost but high operating cost per ounce satellite producer to a larger operation at Ayanfuri. At high gold prices it could be brought into production in advance of Ayanfuri.

The potential mine life can only be determined after the current infill drilling program on the northern portion of the larger, low grade Kayeya gold deposit is completed.

Ivory Coast
New discoveries and mine developments in Ivory Coast and Mali have contributed to the rapid increase in that country's importance as a gold producer.

The discoveries in Mali and northern Ivory Coast are significant for the relative ease with which the deposits have been discovered, their large size, grade, and mine profitability. The discovery and early production successes at Morila sparked the current Malian gold exploration rush.

Tengrela
The 885 sq km Tengrela project is located in Ivory Coast on the border with Mali, 30km SSW from the Syama gold mine (6.5 Moz) along the Syama shear. The project lies 150km SSE of the Morila gold mine (7Moz) and 65km WNW of Tongon deposit.

Resource Potential
While Tengrela is not as advanced as Perseus's other key projects early drill results highlight the significant potential of the project.

As a result of early success at Tengrela, the Company has four rigs operating at Tengrela. The RAB rig is used for reconnaissance work while RC and diamond rigs carry out follow-up drilling and resource drilling.

The initial resource target for 2008 at Tengrela is 1 million ounces.

Setting
Extensive systematic exploration on the Tengrela project, including airborne geophysics and 23,000 geochemical samples, identified nine significant soil anomalies over a strike of 75km, mostly along the Syama shear.

The nine main soil anomalies at Tengrela are comparable to other significant soil anomalies in the region (Syama group, Tabakoroni-Finkolo, Tioro, Morila) and are prime targets for follow-up exploration. The total area of these anomalies is over 40 sq km and will require selective or staged follow-up. Significantly, the Morila-Tongon region has to date had an high conversion rate of significant soil anomalies to discoveries.

Wide-spaced RAB drilling on three of the nine anomalies and follow-up RC and diamond drilling on a portion of the Sissingue anomaly highlight the potential of the entire Tengrela project. Wide, high-grade gold intercepts have been encountered on the Sissingue East prospect and significant gold mineralisation has been encountered on nearly every line drilled.

Geographical Spread

West Africa (Ghana, Ivory Coast)
Central Asia (Kyrgyz Republic)

Board of Directors and Key Management

Reg Gillard	Chairman
Mark Calderwood	Managing Director
Colin Carson	Director
Neil Fearis	Director
Rhett Brans	Director
Susmit Shah	Company Secretary
Kevin Thomson	Exploration Manager

Company Address

30 Ledgar Road
Balcatta, Western Australia, Australia 6021


Telephone:	+618 9240 6344
Facsimile:	+618 9240 2405
Website:	http://www.perseusmining.com

Additional Address/Key Contact

Investor Relations
Richard Taylor
Tel: +61 8 9240 1933 Fax: +61 8 9240 2406
Mobile: 0422 811 350
Email: taylorr@perseusmining.com

Capital

Fully paid ordinary shares (PRU) ; 131,313,150

Annual General Meeting

November

Year End

30 June

Nominated Brokers

Montagu Stockbrokers Pty Ltd
Level 2, 37 St Georges Terrace
Perth, Western Australia 6000

Nominated Advisors

Adam Davey

Broker/Analyst Reports

17/11/06 - 13 Oct 2006, Perseus Mining Limited, Montagu Stockbrokers

Major Shareholders

Caspian Oil & Gas Limited	26.20%
Macquarie Bank Limited	10.41%
ANZ Nominees Ltd	8.42%
HSBC Custody Nominees (Australia) Ltd	3.38%

Most Recent Statement

28/11/08 - AGM Presentation
27/11/08 - Initial Resource at Sissingue, Tengrela
03/11/08 - Change in substantial holding from CIG
22/10/08 - BGF Capital Research Report
06/10/08 - Ayanfuri Feasibility Update, Ghana, West Africa
18/09/08 - Drilling Extends Strike At Sissingue Prospect

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