Mr. Jeff Quartermaine reports

PERSEUS INCREASES INTEREST IN ORECORP TO 19.9%

Perseus Mining Ltd. has increased its relevant interest in OreCorp Ltd.'s shares from 15.03 per cent as previously announced to 19.9 per cent.

Perseus is not currently in active discussions with OreCorp and does not intend to submit a change of control transaction in competition to the current scheme that Silvercorp Metals Inc. has offered to OreCorp shareholders (initially announced to the Australian Securities Exchange on Aug. 7, 2023, and subsequently revised on Nov. 23, 2023).

Perseus intends to vote against the Silvercorp scheme at the OreCorp scheme meeting, which is scheduled for Friday, Dec. 8, 2023.