SEMAFO Inc.
TSX : SMF

SEMAFO Inc.

January 15, 2008 09:45 ET

Semafo discovers two new gold zones at Samira Hill, Niger

MONTREAL, Jan. 15 - SEMAFO (TSX - SMF) today announced
having discovered two new gold zones each at its Samira Hill gold project. The
first structure, Sikia 1, is located to the southeast of the Libiri pit. Work
to date indicates Sikia 1 runs 1km in length. The second structure, Libiri
Plateau is located to the northeast of the Libiri pit and has been identified
as running 500 meters in length while still open at both ends. The discoveries
emanate from the Company's 2007 Samira Hill exploration program aimed at
increasing the project's overall resource and reserves thereby increasing mine
life.

Geophysical Surveys

The second part of an IP survey (dipole-dipole, A=50, n=1 to 6), carried
out by Sagax-Maghreb was completed in Q4. The latest results show new and high
potential gold zones exist in the eastern extension of the Samira-Libiri
conductive zone, and to the North at the Boulonjounga gold prospect. Both
zones are within economic transport distance of the existing Samira Hill
plant. Further drilling of both Sikia 1 and the Libiri Plateau will take place
in 2008.

New Zones

The gold-bearing, highly conductive horizon runs through the Samira and
Libiri deposits and extends on more than 10km in an eastward direction in the
southern grid area. Testing by RC drilling of the IP potential zones provided
gold intersections at Sikia 1 and the Libiri Plateau. Both Sikia 1 and the
Libiri Plateau targets lie within the eastward continuation of the
Samira-Libiri deposits rock sequence, along the extension of an elongated IP
signature going through the deposits themselves. Highlights are shown in the
tables below. Complete tables of mineralized intersections are available on
the Company's website.



-------------------------------------------------------------------------
TABLE OF RC DRILLING RESULTS
SIKIA 1 GOLD TARGET
-------------------------------------------------------------------------
HOLE No. FROM TO LENGTH AVERAGE Au
(m) (m) (m) (g/t)
-------------------------------------------------------------------------
07SKRC05 38 47 9 1.14
-------------------------------------------------------------------------
07SKRC18 71 79 8 2.16
-------------------------------------------------------------------------
07SKRC19 51 61 10 1.68
-------------------------------------------------------------------------
07SKRC25 108 113 5 1.99
-------------------------------------------------------------------------
07SKRC26 33 40 7 1.27
-------------------------------------------------------------------------
07SKRC30 95 103 8 1.19
-------------------------------------------------------------------------
07SKRC31 25 36 11 3.23
-------------------------------------------------------------------------
07SKRC32 76 81 5 2.39
-------------------------------------------------------------------------
07SKRC34 33 43 10 1.53
-------------------------------------------------------------------------
07SKRC35 75 84 9 1.44
-------------------------------------------------------------------------
07SKRC36 90 98 8 3.87
-------------------------------------------------------------------------
07SKRC37 81 83 2 7.07
-------------------------------------------------------------------------
07SKRC40 45 51 6 1.22
-------------------------------------------------------------------------
07SKRC48 71 76 5 1.38
-------------------------------------------------------------------------
07SKRC52 73 81 8 1.62
-------------------------------------------------------------------------



-------------------------------------------------------------------------
TABLE OF RC DRILLING RESULTS
LIBIRI PLATEAU GOLD TARGET
-------------------------------------------------------------------------
HOLE No. FROM TO WIDTH AVERAGE Au
(m) (m) (m) (g/t)
-------------------------------------------------------------------------
07NTRC02 25 35 10 1.13
-------------------------------------------------------------------------
07NTRC05 19 28 9 1.17
-------------------------------------------------------------------------
07NTRC07 57 59 2 5.64
-------------------------------------------------------------------------
07NTRC12 53 66 13 2.82
-------------------------------------------------------------------------
07NTRC15 50 54 4 1.06
-------------------------------------------------------------------------
07NTRC37 47 59 12 3.59
-------------------------------------------------------------------------
and 67 75 8 2.84
-------------------------------------------------------------------------
07NTRC38 68 74 6 1.27
-------------------------------------------------------------------------
07NTRC41 96 104 8 1.31
-------------------------------------------------------------------------
and 110 120 10 1.35
-------------------------------------------------------------------------
07NTRC51 93 106 13 1.07
-------------------------------------------------------------------------
07LPRC02 17 28 11 0.89
-------------------------------------------------------------------------
and 25 28 3 1.35
-------------------------------------------------------------------------
and 57 59 2 1.23
-------------------------------------------------------------------------
07LPRC05 52 55 3 2.38
-------------------------------------------------------------------------
07LPRC09 25 27 2 2.44
-------------------------------------------------------------------------
and 91 99 8 3.77
-------------------------------------------------------------------------
LPRC11 38 43 5 1.18
-------------------------------------------------------------------------


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

RC drill holes completed indicate that the sequence of rocks encountered
in both zones has substantial similarities with the Samira and Libiri ore
deposits currently being mined.

Our exploration programs have been designed and managed on site by our
exploration teams under the supervision of Michel Crevier, P. Geo MScA,
Semafo's Director of Geology and Qualified Person. Mr Crevier has reviewed
this press release with regard to its conformity with Canadian Instrument
Standard No. 43-101.

All individual drilling samples represent one-meter of drilling which
were split in half for cores and RC drill cuttings riffled split to end to 1kg
samples. One half core or a 1kg RC sample was kept on site as a control and an
equivalent sized sample was then sent for preparation and gold assaying at the
Abilab laboratories in Ouagadougou, Burkina Faso. Each sample was fire assayed
for gold content on a 50-gram pulp sub-sample at the same Abilab laboratories.
Complementing Abilab's own QA/QC (Quality Assurance / Quality Control)
program, a QA/QC program was in place throughout the sampling program, using
blind duplicates and recognized industry standards.

Map of the new Au zones

(http://files.newswire.ca/357/semafo_map.doc)

ABOUT SEMAFO

Semafo is a Canadian-based mining company with gold production and
exploration activities located in West Africa. The Company currently operates
two gold mines with a third, the Mana mine in Burkina Faso, in the latter
stages of construction. 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.

More detailed information on Semafo Inc. can be found on its home page at http://www.semafo.com

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