Perseus Mining Unearths Staggering Growth: Record Mineral Resources and Reserves Propel Future Outlook

Perseus Mining (ASX/TSX: PRU) has delivered exhilarating news to the market, announcing a substantial uplift in its global Mineral Resource and Ore Reserve estimates. This landmark update underscores a period of exceptional growth and strategic success for the African gold producer, solidifying its future production profile and significantly extending the lifespan of its flagship assets.

The latest 2024 estimates reveal a remarkable 28% surge in global Measured & Indicated Mineral Resources, now standing at an impressive 15.3 million ounces.

Equally compelling is the 23% increase in global Ore Reserves, which have climbed to a robust 6.3 million ounces. These figures are a testament to Perseus's diligent exploration efforts and strategic acquisitions, positioning the company for sustained long-term value creation.

A significant portion of this growth stems from the outstanding performance at the company's flagship Yaouré Gold Mine in Côte d'Ivoire.

Updated estimates for Yaouré alone indicate Measured & Indicated Resources of 6.8 million ounces at an average grade of 1.4 g/t gold, with Ore Reserves reaching 2.8 million ounces at 1.6 g/t gold. This substantial increase, driven notably by the inclusion of the high-grade Ahougnan and CMA underground deposits, is projected to extend Yaouré's impressive Life of Mine (LOM) well into 2035, with further potential for expansion.

Beyond Yaouré, other key deposits have also contributed significantly to Perseus's bolstered portfolio.

The Fimbiasso deposit now boasts a Measured & Indicated Resource of 1.1 million ounces and an Ore Reserve of 0.4 million ounces. Similarly, the Nkosuo deposit adds considerable strength with 0.8 million ounces in Measured & Indicated Resources and 0.4 million ounces in Ore Reserves. These additions highlight Perseus's multi-asset growth strategy and the intrinsic value within its broader project pipeline.

The implications of these updated figures are profound.

For investors, it signals enhanced long-term production visibility and increased confidence in Perseus's ability to maintain its strong cash flow generation. The company has indicated that it will integrate these new estimates into a comprehensive update of its Life of Mine Plan, which is expected to provide further insights into its future production profile and operational strategies.

Perseus Managing Director and CEO, Jeff Quartermaine, emphasized the company's disciplined approach to growth.

"These outstanding results validate our consistent investment in exploration and strategic development," Quartermaine stated. "Our focus remains on adding ounces in a value-accretive manner, ensuring sustainable growth and strong returns for our shareholders. The extended mine life at Yaouré and the significant contributions from other projects firmly establish our long-term production base."

As Perseus continues to unlock the full potential of its assets across Africa, these latest resource and reserve updates serve as a powerful indicator of its bright future and its unwavering commitment to becoming a leading, responsible gold producer on the continent.