Roxgold Inc.
TSX VENTURE : ROG

Roxgold Inc.

April 27, 2011 08:00 ET

Roxgold Drills 12 Meters Grading 5.46 gpt and 20 Meters Grading 2.20 gpt at Bissa West Gold Concession, Burkina Faso, West Africa

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 27, 2011) -

HIGHLIGHTS

  • 12 Meters grading 5.46 grams per tonne (gpt) at Rawema 1 Area
  • 20 meters grading 2.20 gpt at Bouboulou 2 Area
  • Phase 1 of 2909 meters of RC drilling in 25 holes completed - assays for 10 holes pending
  • Intercepts are from separate zones located 800 meters apart at Bissa West Concession

Roxgold Inc. (TSX VENTURE:ROG) ("the Company"), announces that it has received assays from 15 drill holes from its optioned Bissa West Gold Concession in Central Burkina Faso, West Africa. Assay results are pending for an additional 10holes drilled during Phase 1 on Bissa West and for 15 holes drilled on the Solna Concessions. Bissa West is the second of three properties optioned from Riverstone Resources Ltd. ("Riverstone") and tested by reverse circulation drilling as part of the Phase 1 work program. Results from the Yaramoko concession, located approximately 400 kilometres to the west, were the subject of news releases dated February 28 and April 08, 2011.

BISSA WEST CONCESSION RESULTS

At Bissa West, assays include data from the initial 15 of 25 drilled in February and March 2011. A total of 2909 meters of Reverse Circulation ("RC") drilling was completed at Bissa West. Significant results are presented in the Table below:

Hole #AzDipTD
(m
)Intercepts
(m
)Width
(m
)Au Grade
(gpt
)Area
BBL-11-RC-003

including
3205510324-34

30-32
10

2
1.10

3.66
Pelgtanga
BBL-11-RC-0051205510360-6441.87Bouboulou 2
BBL-11-RC-0061206711570-90202.20Bouboulou 2
And100-110101.42
BBL-11-RC-01212050300100-10881.21Rawema 1
BBL-11-RC-013*1095030074-86125.46Rawema 1
And86-109230.52
* Hole bottomed in mineralization. All other holes returned either geochemically anomalous or no significant results. Hole BBL-11-RC-15 was lost at 30 meters due to drilling difficulties.

Bissa West comprises the Bouboulou exploration permit which is located approximately 75 km northwest of Ouagadougou, and approximately 40 kilometres southwest of the producing Kalsaka gold mine. The permit covers an area of about 40 km². The centre of the permit is occupied by a northeast to east-northeast trending band of mafic volcanic rocks, surrounded by clastic sedimentary rocks. The mafic volcanic rocks are bordered by distinctive bands of siliceous sediments, and similar zones also occur within the sediments.

The northeast trending Sabcé shear zone, which hosts numerous artisanal gold zones over its 120 kilometre length plus the advanced stage Bissa Hill gold project, cuts across this permit. Most of the artisanal gold workings on Bouboulou are shallow in nature, and they generally border the northern contact of the mafic volcanic belt. The largest artisanal gold zone at Bouboulou covers 0.86 km², although the Bouda artisanal gold site just northeast of the permit covers 0.34 km² and its shafts reach a depth of +80 m.

Bouboulou was held by Boliden in 1997 as part of a much larger permit. Boliden completed regional Rapid Air Blast ("RAB") drilling over the entire permit, comprising 25,400 meters, initially at 500 m centres. Included in this total was infill drilling concentrated over what is now the Company's permit, which defined a northeast trending gold anomaly measuring 13 km by 2 to 6 km wide. The mineralization was described as disseminated sulphides in tuffs and dacites.

Riverstone completed several programs of regional and detailed geological mapping and sampling prior to the Roxgold option. Rock sampling and trenching within the Boliden anomaly has returned gold grades from 1.09 to 19.16 g/t. Riverstone also completed an IP geophysical survey over the area of the highest gold values, and the Company has now drill tested a number of these targets.

SOLNA CONCESSIONS

1793 meters of RC drilling in 15 holes have been completed on the Solna Concession in Eastern Burkina Faso. This program targeted anomalous trench, rock and soil values from previous exploration programs conducted by Riverstone. Assays are pending.

YARAMOKO PROGRESS

The RAB percussion drill program continues on the Yaramoko Concession to detail the existing high grade mineralization at Bagassi Central (28.6 gpt over 20 meters and 24.6 gpt over 6 meters) and Bagassi South (11.9 gpt over 6 meters and 14.8 gpt over 2 meters) and to define soil and rock anomalies for core drilling in the following months.

"The Bisssa West intercepts that we just received, with their more modest grades over greater widths, are more typical of those associated with producing gold deposits in Burkina Faso," said Robert Sibthorpe, President and CEO of Roxgold Inc. "As such, these represent important targets for the Company just like the high grade intercepts previously obtained from the Yaramoko Concession. The closing next month of the recently announced $7.5 million bought deal financing will ensure that we can thoroughly investigate and develop the gold potential of the properties."

The Company's first year work commitment of $1,050,000 is almost completed. The terms of the Option Agreement between the Company and Riverstone were fully disclosed in the February 16, 2011 Press Release. Additional project information and maps may be viewed at www.roxgold.com.

All holes referenced in this press release were drilled at an angle of 50-67 degrees and mineralized structures appeared to be subvertical suggesting that true widths of mineralized zones approximate 75% of reported widths.

QUALITY ASSURANCE/QUALITY CONTROL

Riverstone is the operator of the current program and maintains a quality control program involving the use of repeat assays, inserted blanks and the use of certified standards from an accredited Canadian laboratory. All Bissa West samples were assayed using standard fire assay with atomic absorption techniques, with samples grading over one gram gold per tonne re-assayed with a gravimetric finish, at the independent Abilab Burkina SARL laboratories in Ouagadougou, Burkina Faso, which is part of the ALS Chemex group. A high level of exploration and development activity in the gold sector in Burkina Faso has resulted in an increase in the turnaround time for receiving all gold assays.

Paul Anderson, PGeo, is a qualified person for Riverstone and has reviewed and approved the contents of this release.

Robert Sibthorpe, President and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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