huge 46 per cent gold resource upgrade ..

"Highlights

• Perseus’s Ghana gold resources pass 4.7 million ounces.

• Resource estimate completed for the Esuajah and Fetish Deposits.

Total gold resources at Fetish and Esuajah have increased by 650,000oz from 1.42Moz to 2.07Moz.

Indicated resources increased by 145% to 852,700 ounces from 347,600 ounces of contained gold.

Inferred resources increase to 1,219,700 ounces.

... A 46% increase for the Esuajah and Fetish group of deposits at the Company’s Ayanfuri Project, has taken Perseus’s total gold resources in Ghana to 4.7 million ounces.

... The discovery cost for these resources is about $6 per ounce.. .

Other recently announced discoveries at Ayanfuri are still to be included into resource calculations for this project. Numerous other drill targets... will be tested with intensive drilling campaigns over the coming months.

A Detailed Feasibility Study (DFS) currently underway is expected to be ready in November this year. The continued resource expansions at Ayanfuri are challenging the Company’s current mining plans, with consideration being given to expanding planned mining and production rates.

Resource definition drilling has also commenced at the newly discovered Poku prospect, located south-west of Esuajah and west of Fetish. Mampon, another new prospect located south-west of Fobinso, is also being drilled.

Extensional and infill drilling at Ayanfuri is continuing in areas with open pit potential and further resource upgrades are expected in 2008."

From today's ASX release.