Perseus deep intercepts at AF-Gap deposit

Perseus Mining Limited announces that two deeper holes drilled into the AF Gap deposit at the Ayanfuri project confirm that gold mineralisation continues well below the existing resource limit. With similar results announced in the December quarterly report for the adjoining Abnabna deposit, there is good potential to substantially increase gold resources for these two deposits and for other deposits within the 2km long Abnabna-Fobinso zone.

Results from the two holes at AF-Gap are:

ABRDD184 -150m at 2.4g/t including 9m at 5.6g/t, 9m at 10.4g/t, 1m at 45.1g/t and 4m at 8.4g/t Au

ABRDD187 – multiple intercepts of 23m at 2.1g/t, 33m at 2.1g/t, 24m at 1.5g/t and 24m at 1.5g/t Au.

The granite hosted Abnabna and AF-Gap shoots are each about 200m long 100m wide and both plunge about 50 degrees to the north east. The shoots have been drilled to an average depth of about 150m whilst only drilling completed between May 2007 (Abnabna) and September 2007 (AF-Gap) has been used for resource estimates. Deeper drilling planned for Abnabna and A-F Gap will test to 250m and beyond.

Current resources at Abnabna and AF-GAP total 14.4Mt at 1.6g/t containing 726,600 ounces of gold. Total Indicated and Inferred resources announced for the Ayanfuri project stand at 2.6 million ounces, with recent drilling focused on enabling the conversion of those resources to Measured and Indicated status.

Several other 100m long mineralized shoots, such as AF-Gap North, Fobinso South and Fobinso North, have been identified within the 2km Abnabna-Fobinso zone. The likelihood of identifying further mineralised shoots along a broader 8km long zone either side of the Abnabna-Fobinso zone is high, given the low levels of exploration carried out in the past. By way of example, limited drilling at the Fobinso deposit has already defined 196,300 ounces of gold, while the AF-Gap shoot (the largest to date) was only discovered in mid-2007.