Edikan Gold Mine production update

Thursday, Jan 03, 2013

PERTH, WESTERN AUSTRALIA, Jan. 2, 2013 /CNW/ - Perseus Mining Limited (ASX / TSX: PRU) ("Perseus" or the "Company") advises that gold production at its Edikan Gold Mine in Ghana is now estimated to be 49,000 ounces for the December 2012 Quarter. The lower end of the revised production guidance announced on 23 November 2012 for this quarter was 58,500 ounces.

The production shortfall resulted, principally, from low crusher output from the time of the November guidance until the planned December maintenance shutdown, followed by a much longer than expected shutdown of eight days in December for the liner change and remedial work.  The production shortfall was exacerbated by a shortage of crushed material on the coarse ore stockpile to feed the mill during the crusher shutdown and lower recoveries largely attributable to milling
a higher proportion of oxide ore to compensate for the lack of crushed primary ore.

After the crusher recommenced operations on 21 December it crushed 162,193t in the first 149 operating hours at a near record rate of 1,088t/hr, excluding additional oxide feed of 148 dtph.

The Company will provide a detailed update on the Edikan primary crusher and mill performance with the release of the quarterly operating results in mid-January after all production and maintenance reports have been received and reviewed.

About Perseus Mining Limited

Perseus Mining Limited (ASX/TSX: PRU) has forged a reputation as one of West Africa's most successful gold explorers focused on under-explored gold belts in West Africa.  In August 2011 Perseus became a producer at its Edikan Gold Mine in Ghana.   Details of the project and mine plan are set out in the technical report entitled "Technical Report - Central Ashanti Gold Project, Ghana" dated May 30, 2011.

SOURCE Perseus Mining Limited