Perth, April 3, 2023 (GLOBE NEWSWIRE) — PERSEUS REFINANCING AND UPSIZES DEBT FACILITIES TO 300 MILLION U.S$

Perth, Western Australia/April 3, 2023/The African-oriented gold producer Perseus Mining Limited PRU is pleased to announce that it has refinanced its existing syndicated credit facility into a $300 million corporate revolving facility.

HIGHLIGHTS

• Perseus signs $300 million syndicated corporate revolving facility, replacing The existing $150 million Furnishings¹
• Based on net liquidity as of December 31, 2022 of $405 million^2,1The Perseus Refinanced Facility provides more than $705 million of available liquidity with a three-year maturity to March 31, 2026
• Perseus anticipates a final investment decision on the development of the Meyas Sand Gold Project in Sudan in fiscal 2023.

The increased facility is available for general corporate purposes, subject to the satisfaction of certain customary conditions, and together with Perseus’ net cash position of $405 million as of December 31, 2022, provides the Company with more than $705 million of available cash liquidity available.

The enlarged banking syndicate consists of six international banks including Macquarie Bank Limited of Australia; Nedbank Limited (acting through the Nedbank Corporate and Investment Banking Division); Absa Bank (Mauritius) Limited; Citibank, NA, Sydney Branch; FirstRand Bank Limited (acting through its Rand Merchant Bank Division); and Standard Bank of South Africa Limited (Isle of Man Branch).

Perseus was advised by ICA Partners Pty Limited and Minter Ellison.

Jeff Quartermaine, Managing Director and CEO of Perseus called: “Perseus is very pleased to continue to receive the strong support of a very high quality group of international lenders at a time of significant uncertainty in global financial markets. This support is seen as an important validation of the underlying quality of our assets and future cash flows.

Perseus has successfully transformed in recent years It is Company is to become a medium-sized multi-mine enterprise, …