Perseus Reports Strong Operational Performance

Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.Perth, April 23, 2026 (GLOBE NEWSWIRE) — Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.MARCH 2026 QUARTER REPORTPerseus reports strong operational performance; cash & bullion rises to US$817 millionPERTH, Western Australia/April 23, 2026/Perseus Mining Limited (“Perseus” or the “Company”) (TSX & ASX: PRU) reports on its activities for the three months’ period ended March 31, 2026 (the “Quarter”). Below is a summary of the release. The full report is available at www.perseusmining.com, www.sedarplus.ca and www.asx.com.au.Overview Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.FY26 OutlookKey operating indicators and highlights for the March 2026 quarter (Q3 FY26) include:QUARTERQUARTER QUARTER TO DATEConference Call Perseus will host investor webinar and conference call to discuss its March 2026 Quarterly Results, at 9.00am AEDT today (23 April 2026). Register for the webinar at:https://us02web.zoom.us/webinar/register/WN_f0XhNd81RT2LZFHakssoEwA recording of the conference call will be made available via Perseus’s website at www.perseusmining.com.OPERATIONSProduction, Costs and Notional CashflowPerseus’s three operating gold mines, Yaouré and Sissingué in Côte d’Ivoire, and Edikan in Ghana, demonstrated strong performance in Q3 FY26 producing a combined total of 107,144 ounces of gold, 21% more than the 88,888 ounces achieved in Q2 FY26. Higher production was achieved across all three operating gold mines.The weighted average production cost was US$1,238 per ounce, while the weighted average All-in-Site Cost (AISC) was US$1,748 per ounce. The weighted average AISC for the quarter was lower than the Q2 FY26 AISC of US$1,800 attributable to higher production.Gold sales from all three operations totalled 96,260 ounces or 9,653 ounces more than in Q2 FY26 attributable to higher production. The weighted average realised gold price was US$4,143 per ounce, US$706 per ounce more than the Q2 FY26 price of US$3,437 per ounce. Perseus’s average cash margin for the quarter was US$2,395 per ounce, resulting in notional operating cashflow of US$252 million from all operations. This was US$107 million higher than in Q2 FY26. FUEL SUPPLY CONDITIONS AND OPERATIONAL IMPACTThe Group continues to closely monitor fuel supply availability, consumption levels and inventory positions to mitigate the risk of operational disruption in the short to medium term.Perseus is working with its long-standing fuel suppliers in the region to assess any material impacts of the current Iran conflict. There were no operational disruptions to the Group’s activities during Q3 FY26, and fuel supply is expected to be sufficient to support operations. Refer to the “Group Gold Production and Cost Guidance” section for the sensitivities of diesel price to AISC.Group and mine operating results summarised in Tables 1 to 3 below.Table 1: Gold Production by MineTable 2: Gold Sales by MineTable 3: All-In Site Costs and Notional Cash Flow by Mine JUNE 2026 QUARTER EVENTS & ANNOUNCEMENTSCompetent Person Statement All production targets referred to in this release are underpinned by estimated Ore Reserves which have been prepared by competent persons in accordance with the requirements of the JORC Code.The information in this report that relates to the Mineral Resources and Ore Reserve for the Edikan and Sissingué Gold Mines was updated by the Company in a market announcement “Perseus Mining updates Mineral Resources and Ore Reserves” released on 21 August 2025. The information in this report that relates to the Mineral Resources and Ore Reserve for the Nyanzaga Gold Project was updated in a market announcement “Perseus Mining Increases Nyanzaga Gold Project Ore Reserves to 4.0 Moz” released on 20 February 2026.The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company confirms that the material assumptions underpinning the estimates of Ore Reserves described in “Technical Report — Edikan Gold Mine, Ghana” dated 6 April 2022, “Technical Report — Yaouré Gold Project, Côte d’Ivoire” dated 18 December 2023, “Technical Report — Sissingué Gold Project, Côte d’Ivoire” dated 29 May 2015, and “Technical Report — Nyanzaga Gold Project, Tanzania” dated 10 June 2025 continue to apply.Caution Regarding Forward Looking Information: This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of gold, continuing commercial production at the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold Mine without any major disruption, development of a mine at Nyanzaga, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company’s publicly filed documents. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.This market announcement was authorised for release by the Board of Perseus Mining LimitedCAPITAL STRUCTURE:Ordinary shares: 1,346,377,056Performance rights: 8,625,981REGISTERED OFFICE:Level 2437 Roberts RoadSubiaco WA 6008Telephone: +61 8 6144 1700www.perseusmining.comRick MenellNon-Executive ChairmanCraig JonesManaging Director & CEOAmber BanfieldNon-Executive DirectorElissa CorneliusNon-Executive DirectorDan LougherNon-Executive DirectorJohn McGloinNon-Executive DirectorJames RutherfordNon-Executive DirectorCraig JonesManaging Director & CEOcraig.jones@perseusmining.comStephen FormanInvestor Relations+61 484 036 681stephen.forman@perseusmining.comNathan RyanMedia+61 420 582 887nathan.ryan@nwrcommunications.com.au1The cost guidance released in the Q2 FY26 report was based on a gold price assumption of $3,900 per ounce (January to June 26) and royalty rates of 8% in Côte d’Ivoire and 5% in Ghana.AttachmentPostmedia is committed to maintaining a lively but civil forum for discussion. 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