Perseus Mining Limited
TSX : PRU
ASX : PRU

Perseus Mining Limited

January 28, 2014 20:37 ET

Perseus Mining Limited-Issue of Performance Rights

PERTH, WESTERN AUSTRALIA--(Marketwired - Jan. 28, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Perseus Mining Limited ("Perseus" or the "Company") (TSX:PRU)(ASX:PRU) advises that 5,250,000 performance rights have been issued to eligible staff under the terms and conditions of the Company's Performance Rights Plan which was approved by shareholders in November 2012. The Company also intends, subject to shareholder approval, to issue 725,000 performance rights to its Managing Director Jeff Quartermaine and 400,000 performance rights to Executive Director Colin Carson. The issue of performance rights to Messrs Quartermaine and Carson will be put to shareholders for approval at the Company's next General Meeting.

Vesting criteria for the performance rights include achievement by the Company of a more than average total shareholder return (TSR) compared to a peer group (with 100% of rights vesting if the Company's TSR is above the 75th percentile and 25-50% vesting if the Company's TSR is between the 50th and the 75th percentile) as well as achievement by the individual of his or her personal key performance indicators during the vesting period. Half of each individual's performance rights have a vesting period of 18 months and the other half of three years from 1 January 2014.

Reginald Gillard, Chairman

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