Mr. Craig Jones reports

BAGOE UPDATE

Following the announcement of a fatal off-site vehicle accident that occurred last Thursday, Jan. 15, near Perseus Mining Ltd.'s Bagoe gold mine in Ivory Coast, another occupant in that vehicle, also an employee of the contractor company Binkadi, who was receiving care in hospital, has passed away. The other passengers in the vehicle sustained minor injuries and have been released from hospital.

The company extends its deepest sympathies to Vakaramoko Sangare's family. Both Perseus and Binkadi are providing support to the family through this very difficult time. Perseus is also offering support to its entire team at the Sissingue complex as it comes to terms with this tragic event.

Perseus is continuing the investigation into the accident and is working closely with the relevant authorities in Ivory Coast.