PRU Perseus Mining Ltd

On February 28, 2022, Perseus Mining Limited (“Perseus”) (ASX/TSX:PRU) announced that it had entered into a definitive agreement with Orca Gold Inc. (“Orca”) (TSXV: ORG) to acquire all of the outstanding common shares of Orca not already owned by Perseus, by way of a statutory plan of arrangement under the Canada Business Corporations Act (the “Arrangement”).

A special meeting of Orca shareholders is scheduled to be held on May 16, 2022 to consider the Arrangement. Relevant materials, including an Information Circular, intended to assist Orca shareholders in their consideration of the matters to be decided at the meeting, were despatched to Orca shareholders on April 20, 2022. The meeting materials are available on Orca’s profile on www.sedar.com and on Orca’s website www.orcagold.com.

Assuming the requisite approvals are obtained at the meeting, completion of the Arrangement is expected to occur on May 19, 2022.

In anticipation of a favourable vote at the shareholder meeting, the management of Perseus and Orca have been working closely together since the date of the announcement to plan the integration of the two companies to enable activities directed at developing Orca’s Block 14 Gold Project, to commence as soon as practical.

This announcement was approved for release by the Jeff Quartermaine, Managing Director and Chief Executive Officer.

ASX/TSX CODE: PRUREGISTERED OFFICE:Level 2437 Roberts RoadSubiaco WA 6008Telephone: +61 8 6144 1700Email: IR@perseusmining.comABN: 27 106 808 986WWW.PERSEUSMINING.COM

CONTACTS:Jeff QuartermaineManaging Director & CEOjeff.quartermaine@perseusmining.comNathan RyanMedia Relations+61 4 20 582 887nathan.ryan@nwrcommunications.com.auClaire HallCorporate Communications claire.hall@perseusmining.com