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Press release from CNW Group

Commissioning On Track at Central Ashanti Gold Project, Ghana

Wednesday, August 17, 2011

Commissioning On Track at Central Ashanti Gold Project, Ghana21:47 EDT Wednesday, August 17, 2011NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, Aug. 17, 2011 /CNW/ - Perseus Mining Limited (ASX/TSX: PRU) ("Perseus") is pleased to announce that commissioning of its Central Ashanti Gold Project ("CAGP") plant in Ghana is progressing on schedule.A major milestone was achieved on Tuesday 9 August 2011 when the SAG mill commenced processing ore and first gold production is expected within a week, in line with expectations of first gold in the third quarter of 2011.Commissioning the process facility to name plate capacity and optimisation of gold recoveries is expected to be achieved within three months.Permission has been obtained to discharge all tailings from the plant into the smaller lined tailings storage facility while additional clearing and compaction of selected areas requested by the EPA is undertaken on the larger storage facility to enable tailings to be discharged into it.The mining ramp-up is progressing, and is on schedule for an average mining rate of 1,100,000 m3 per month. Approximately 4,200,000 m3 of material has been mined to date, including about 700,000 tonnes of ore.Photographs of the commissioning process at CAGP are available on the Company's website at www.perseusmining.com.Mark Calderwood, Managing Director's Comments"It was a tremendous effort by all involved to bring this substantial project to fruition within 14 months of starting site works.""I would like to thank the construction and operations teams for their contributions towards completing the project on schedule."About Perseus Mining LimitedPerseus Mining Limited (ASX/TSX: PRU) has forged a reputation as one of West Africa's most successful gold explorers. Focused on under-explored gold belts in West Africa, Perseus is on track to shortly become a producer at its Central Ashanti Gold Project (CAGP) in Ghana.  The Company plans to produce at the initial rate of about 220,000 ounces of gold in the first twelve months of commercial production and to increase this to about 280,000 ounces per annum in the following year.Perseus is now also planning the development of its Tengrela Gold Project in Côte d'Ivoire, with production targeted for 2013. Tengrela has the potential to become a significant contributor to the Company's goal to develop into a 400,000 ounce per year gold producer by 2013.Perseus will continue its strategy of rapidly increasing its resource and reserve base during the development of the CAGP and Tengrela.Caution Regarding Forward Looking Information: This report contains forward-looking information which is based on assumptions and judgments of management regarding future events and results. Such forward-looking information, includes but is not limited to information with respect to future exploration and drilling,  procurement of financing, procurement of necessary regulatory approvals, the development of a mine at the Central Ashanti Gold Project, and development of a mine at Tengrela .  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.For further information: To discuss any aspect of this announcement, please contact: Mark Calderwood at telephone +61 8 9240 6344 or email calderwoodm@perseusmining.com Nathan Ryan at telephone +61 420 582 887 or email nathan.ryan@nwrcommunications.com.au Rebecca Greco at telephone +1 416 822 6483 or email fighouse@yahoo.com (Toronto)