Perseus Mining Limited

Perseus Mining Limited

September 12, 2017 19:25 ET

Perseus Mining Limited Strengthens its Board and Management Team

PERTH, WESTERN AUSTRALIA--(Marketwired - Sept. 12, 2017) -


Perseus Mining Limited (TSX:PRU)(ASX:PRU) is pleased to announce that it has strengthened its board of Directors and senior management team with two recent appointments.

Ms Sally-Anne Layman has been appointed to the role of non-executive director of Perseus with effect from 13 September 2017. Sally-Anne, who holds both a Bachelor of Commerce (Accounting) and a Bachelor of Engineering in Mining (Hons) has also agreed to assume the role of Chairperson of the Board's Audit and Risk Committee and sit on the Remuneration Committee.

Sally-Anne is currently a non-executive Director and Chairman of the Audit and Risk Committee for listed mining technology company, Imdex Limited, and a non-executive Director of West Australian focussed gold miner, Gascoyne Resource Limited. Immediately prior to retiring from executive roles in 2016, Sally-Anne spent 15 years working for the leading Australian investment bank Macquarie Limited, with her most recent role being that of Division Director and Joint Head of the Perth office for the Metals, Mining and Agriculture Division.

In a second appointment Mr Merlin Thomas has been appointed to the executive role of General Manager - Sissingué Gold Mine. In this capacity, Merlin will have full responsibility for the day to day operations of the Sissingué Gold Mine and will report to the Company's Chief Operating Officer.

Merlin has a degree in Mineral Processing from Imperial College, London University, is a fellow of the Institute of Materials, Minerals & Mining and is a fluent French speaker, having spent more than 12 years working on projects in francophone Africa.

He is a senior mining professional with more than 30 years' experience of gold and copper operations across five continents. Most recently he performed the role of general manager of a 100,000 ounce per annum gold mine located in a remote environment, taking the project from commissioning through to commercial production. Prior to this appointment, Merlin held a number of senior management roles with First Quantum Minerals Ltd spanning a ten year period.

Perseus's Chief Executive Officer, Mr Jeff Quartermaine said: "Speaking on behalf of our Chairman and the entire Board of Perseus, it is a pleasure to welcome to the Board a non-executive Director of the calibre of Sally-Anne Layman. Sally-Anne brings a wealth of financial and technical expertise to Perseus, having largely gained this through a very successful career in investment banking at Macquarie Bank. Her appointment brings the number of Directors on the Perseus Board to seven and I speak for all Directors in sincerely welcoming her onboard.
I am also delighted by Merlin Thomas's appointment to the GM role at Sissingué which is also an important addition to Perseus's management team. Our second gold mine at Sissingué will begin producing gold early in the new-year and Merlin's experience in managing the ramp-up of a new mine in a remote location in Africa will be invaluable to his new role.

Caution Regarding Forward Looking Information: This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of gold, continuing commercial production at the Edikan Gold Mine without any major disruption, development of a mine at Sissingué and/or Yaouré, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. The Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the Company's ability to carry on its exploration and development activities, the timely receipt of required approvals, the price of gold, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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