Perseus Appoints Additional Non-Executive Director

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PERTH, May 02, 2024 (GLOBE NEWSWIRE) — Perseus Mining appoints an additional independent non-executive director to its board of directors

Perth, Western Australia/May 2, 2024/Perseus Mining Limited (ASX/TSX:PRU) (Perseus or the Company) is pleased to announce that Mr. Rick Mennell has agreed to join the Board of Perseus in the role of a non-executive, independent director and will assume this position with immediate effect. impact.

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Rick is an accomplished South African whose career has spanned over 40 years and has been involved in senior leadership roles in a range of major resources companies in Africa.

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Originally trained as an exploration geologist at Cambridge and Stanford Universities, Rick worked as a geologist in Canada, the US and South Africa before spending time as an investment banker for the mining industry in New York and Australia with JPMorgan. After a period as CEO of Delta Gold in Australia, where he worked on new gold mines in Australia and gold and platinum projects in Zimbabwe, he returned to South Africa in 1991 and rejoined the mining industry there as CFO of diversified mining company Anglovaal Mining. .

Rick led Anglovaal Mining from 1996 as CEO and CEO until 2004. During this period, he managed the restructuring, transformation and modernization of the group, including major investments in new platinum, gold, manganese, chromium, iron ore, coal and nickel. Mines in South Africa, new iron and manganese smelters in South Africa, and investments in copper and cobalt mining, smelting and refining in Zambia. This work continued when he merged Anglovaal with Patrice Motsepe's ARM to form African Rainbow Minerals, where he remained vice chairman, as well as CEO of subsidiary Teal Mining and Exploration Inc, until leaving the group in 2008.

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Until 2011, Rick also served as Chairman of the Minerals Council of South Africa, Chairman of Tourism South Africa, Chairman of Batman Engineering, Deputy Chairman of Harmony Gold and associated manganese mines, and a Director of Standard Bank Group and Telekom South Africa. Mutual & Inc. Federal insurance. He has been a Director of the World Gold Council, a Senior Advisor to the World Trade Organization, the International Organization for Migration, and a member of the Mining Council of the World Economic Forum. He is a Fellow of the Geological Society (London), SAIMM and AusIMM.

In 2011, Rick joined the Credit Suisse investment banking group as a Senior Advisor, working on transactions across all sectors, and across Sub-Saharan Africa, leaving the group upon its merger with UBS in 2023. He has retained an active leadership involvement in the mining industries and mining supplies. He recently retired as Vice Chairman of Gold Fields Ltd and Senior Independent Director of Weir Group (UK). He remains an independent non-executive director of Sibanye-Stillwater Limited, a precious metals and energy transition metals mining company listed in Johannesburg and New York, after serving for several years as lead independent director.

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Rick has also been active throughout his career in the not-for-profit sector, serving on numerous boards including Business Trust, NBI, BLSA and CDE, all in South Africa. He is the founding co-chair of the youth service organization City Year South Africa, a member of the Foundation Board of Trustees at the University of the Western Cape and a member of the Advisory Board of the African Leadership Academy. His activities focus on secondary, tertiary and post-university education and on active citizenship such as the Solidarity Fund in South Africa, where he worked as a full-time volunteer executive director in a team dealing with the health and humanitarian consequences of the Covid pandemic. He led funding efforts that raised nearly $250 million to support urgent programs for all those in need, both citizens and non-citizens.

He co-founded and funded a new, similar initiative in 2023: the Resource Mobilization Fund. This was created at the request of the President of South Africa to engage the private sector to help deal with the enormous national challenges of energy and water supply, failing transport infrastructure and the erosion of the rule of law through public-private partnerships.

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Jeff Quartermaine, Chairman and CEO of Perseus, said:

“On behalf of the Perseus Board of Directors, I am extremely pleased to welcome Rick Meynell to our Board of Directors. Rick is an individual of the very highest caliber whose diverse work and life experiences will bring invaluable new perspectives in helping Perseus achieve his full potential.”

His deep understanding of the people and mining industry on the African continent is a perfect fit to join the leadership team of a growing, African-focused company like Perseus, which has ambitions to become a leader in the gold mining industry on the continent.

The issuance of this market announcement has been approved by the Board of Directors of Perseus Mining Limited.

for more information:

WWW.PERSEUSMINING.COM

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