SEMAFO Inc.
TSX : SMF

SEMAFO Inc.

March 24, 2008 08:56 ET

High grade zone deepening at Mana

MONTREAL, March 24 - SEMAFO (TSX - SMF) is pleased to
provide an update on its exploration program undertaken on the Wona North East
Extension at its Mana Mine in Burkina Faso.

Semafo has determined that the Wona deposit, which is advantageously
situated adjacent to the Mana processing plant, extends in a north-east
direction as well as at depth. Follow-up drilling has been carried out
confirming the presence of a mineralization lode for a distance of 500m under
the NE part of the Wona open pit outline. The lode extends for another 800m in
the NE direction, past the pit outline. Vertically, the lode covers a height
of at least 400m. The mineralization, whose width is greater than at
sub-surface, presents a number of high gold grades.

Further drilling will aim at a better definition of the mineralization
and will focus on investigating the potential of an underground operation to
be located between 16050E and 17400E. In addition, the potential for
establishing two small open pits at 17,500E and 18,000E exist. The area herein
described is shown on attached longitudinal section displaying contoured
grades-thickness product in progressive cold to hot colors.
(http://files.newswire.ca/462/WONA-NE-EXTENSION.doc)

The following table presents the main mineralized zone intersected, with
high grades values included.



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TABLE OF GOLD INTERSECTIONS - WONA NE EXTENSION
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HOLE NO. FROM (m) TO (m) SECTION Au/Length
-------------------------------------------------------------------------
-------------------------------------------------------------------------
WDC24 317 329 16275 E 4.99 g/t/12m
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WDC31 271 276 16450 E 1,66 g/t/5m
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WDC32 219 230 16300 E 2.57g/t/11m
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WDC34 311 334 16200 E 3.05 g/t/23m
-------------------------------------------------------------------------
Including 312 328 4.02 g/t/16m
-------------------------------------------------------------------------
WDC35 317 328 16300 E 3.67 g/t/17m
-------------------------------------------------------------------------
Including 311 322 4.67 g/t/11m
-------------------------------------------------------------------------
WDC36 359 363 16350 E 4.62g/t/4m
-------------------------------------------------------------------------
WDC37 313 321 16400 E 1.40g/t/8m
-------------------------------------------------------------------------
WDC38 215 238 16700 E 2.76g/t/23m
-------------------------------------------------------------------------
Including 215 225 3.94g/t/10m
-------------------------------------------------------------------------
WDC38 244 253 4.34g/t/9m
-------------------------------------------------------------------------
WDC39 188 203 16500 E 3.13g/t/15m
-------------------------------------------------------------------------
WDC39 218 226 16500 E 2.30g/t/8m
-------------------------------------------------------------------------
WDC40 503 509 16275 E 2.13g/t/6m
-------------------------------------------------------------------------
WDC41 404 413 16200 E 3.18g/t/9m
-------------------------------------------------------------------------
WDC46 278 329 17000 E 3.47g/t/51m
-------------------------------------------------------------------------
Including 311 328 5,99g/t/17m
-------------------------------------------------------------------------
WDC49 251 280 17100 E 2.30g/t/29m
-------------------------------------------------------------------------
Including 260 268 5.14g/t/8m
-------------------------------------------------------------------------
WDC50 176 217 16900 E 3.01g/t/41m
-------------------------------------------------------------------------
Including 177 186 4.37g/t/9m
-------------------------------------------------------------------------
Including 192 202 6.28g/t/10m
-------------------------------------------------------------------------
WDC51 224 273 16800 E 2.95g/t/49m
-------------------------------------------------------------------------
Including 226 229 5.73g/t/3m
-------------------------------------------------------------------------
Including 243 247 5.20g/t/4m
-------------------------------------------------------------------------
Including 252 262 5.19g/t/10m
-------------------------------------------------------------------------
WDC58 282 308 17175 E 4.04g/t/26m
-------------------------------------------------------------------------
Including 295 308 5.66g/t/13m
-------------------------------------------------------------------------
WDC59 234 242 17000 E 2.57g/t/8m
-------------------------------------------------------------------------
WDC59 260 264 17000 E 3.55g/t/4m
-------------------------------------------------------------------------
WDC60 493 515.5 16900 E 3.26g/t/20m
-------------------------------------------------------------------------
Including 502 510 4.04g/t/8m
-------------------------------------------------------------------------
WDC61 319 350 16800 E 2.87g/t/21m
-------------------------------------------------------------------------
Including 335 339 4.26g/t/4m
-------------------------------------------------------------------------
WDC62 401 462 17100 E 2.43g/t/44m
-------------------------------------------------------------------------
Including 431 435 4.69g/t/4m
-------------------------------------------------------------------------
WRC318 7 19 17315 E 2.08g/t12m
-------------------------------------------------------------------------
WRC321 90 98 17300 E 2,57g/t/8m
-------------------------------------------------------------------------
WRC322 55 77 17500 E 2,85g/t/22m
-------------------------------------------------------------------------
Including 57 74 3.33g/t/18m
-------------------------------------------------------------------------
WRC341 93 102 17000 E 4.95g/t/9m
-------------------------------------------------------------------------
WRC343 101 111 17400 E 2,33g/t/10m
-------------------------------------------------------------------------
Including 101 108 3.16g/t/7m
-------------------------------------------------------------------------
WRC348 32 45 18000 E 3.05g/t/13m
-------------------------------------------------------------------------

All lengths are down hole lengths; additional information is required to
determine true widths.


Semafo's properties in Burkina Faso are within the Houndé
volcano-sedimentary belt. As described in previous technical reports, more
than one mineralization type has been recognized in the area, such the Nyafé
deposit which is of vein type in sheared volcanics and the Wona deposit, which
lies in meta-sediments. The latter is related to silicification which is often
brecciated and generally at proximity to a graphitic horizon.

The drilling programs were designed and managed locally by Dofinta Bondé,
Mana Mineral's Exploration Chief Geologist and reviewed and supervised under
the direction of Michel Crevier P.Geo MScA, Geology Manager and Semafo's
Qualified Person who has reviewed this press release for accuracy and
compliancy with the Canadian Instrument 43-101.

All individual samples represented one-meter length of core drilling
which was sawn in half or one-meter length RC drilling riffle spit to end to 1
Kg sample. One half core or 1 Kg RC sample is kept on site as a control and
identical sample for assay then sent for preparation and gold assaying at the
ALS Chemex laboratories in Ouagadougou, Burkina Faso. Each sample was fire
assayed for gold content on a 50-gram sub-sample at the same ALS Chemex
laboratories. Complementing ALS Chemex's own QA/QC (Quality Assurance /
Quality Control) program, an internal quality control and quality insurance
program was in place throughout the sampling program, using blind duplicates
and recognized industry standards.

About SEMAFO

Semafo is a Canadian-based mining company with gold production and
exploration activities located in West Africa. The Company currently operates
three gold mines in Burkina Faso, Niger and Guinea. Semafo is committed to
evolve in a conscientious manner to become a major player in its geographical
area of interest, while maintaining values and strengthening relationships to
increase shareholder value.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These
forward-looking statements include, but are not limited to, statements
regarding expectations of the Company as to the market price of gold,
strategic plans, future commercial production, production targets, timetables,
mining operating expenses, capital expenditures, and mineral reserve and
resource estimates. Forward-looking statements involve known and unknown risks
and uncertainties and accordingly, actual results and future events could
differ materially from those anticipated in such statements. Factors that
could cause future results or events to differ materially from current
expectations expressed or implied by the forward-looking statements include,
but are not limited to, fluctuations in the market price of precious metals,
mining industry risks, uncertainty as to calculation of mineral reserves and
resources, risks related to hedging strategies, risks of delays in
construction, requirements of additional financing and other risks described
in the Company's documents filed from time to time with Canadian securities
regulatory authorities. Although the Company is of the opinion that these
forward-looking statements are based on reasonable assumptions, those
assumptions may prove to be incorrect. Accordingly, readers should not place
undue reliance on forward-looking statements. Readers can find further
information with respect to risks in the Annual Information Form of the
Company and other filings of the Company with Canadian securities regulatory
authorities available at www.sedar.com. The Company disclaims any obligation
to update or revise these forward-looking statements, except as required by
applicable law.

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