Perth, Aug. 21, 2025 (GLOBE NEWSWIRE) —

PERSEUS EXECUTES KEY NYANZAGA AGREEMENTS WITH TANZANIA

Perseus has signed formal agreements with the Government of the United Republic of Tanzania to progress development of Perseus’s 80% owned Nyanzaga Gold Project (NGP) in Tanzania 2 .

Perseus announced a Final Investment Decision (FID) to proceed with the NGP development in April 2025.

When operating, NGP is forecast to be the lowest cost operation in Perseus’s 4 mine portfolio 1 .

NGP gold production will average over 200,000 ounces of gold per annum from FY28 to FY35, with peak production of ~250,000 ounces in FY28 and with life of mine average All-In Site Cost (AISC) of US$1,211/oz.

Perseus is on track for first gold production at NGP in Q1 CY27.

Perth, Western Australia/August 21, 2

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