Roxgold Inc.
TSX VENTURE : ROG

Roxgold Inc.

August 10, 2011 06:00 ET

Roxgold Extends Diamond Drill Contract for Yaramoko; Completes Second Bissa West RC Drill Program; Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 10, 2011) - Roxgold Inc. (the "Company") (TSX VENTURE:ROG) announces that the contract for 5000 meters of core drilling at its Yaramoko gold concession has been extended through to mid-September. The Company is also negotiating for an additional 5000 meters of core drilling thereafter. To date, some 4500 meters of HQ and NQ core has been drilled in 36 holes at Yaramoko. In an effort to avoid the long delays associated with assaying samples in Burkina Faso, selected samples are being air-freighted to Canada for processing. The main target areas have been the Bagassi Central zone where previously reported reverse circulation (RC) drilling returned gold intercepts of 28.6 gpt over 20 meters and 24.6 gpt over 6 meters and the Bagassi South Zone where 11.9 gpt over 6 meters and 14.8 gpt over 2 meters was intersected.

The Company has also completed an additional 2500 meters of reverse circulation drilling in 18 holes on its optioned Bissa West gold concession in western Burkina Faso, West Africa. This drilling has focused on the Bouboulou 2 area (40 meters grading 1.52 gpt in previous drilling) and Rawema (35 meters grading 2.19 gpt). Assay results are pending.

The Company has also completed extensive RAB drilling programs on all of its optioned properties to detail existing soil and rock anomalies and to generate new anomalies.

The Company also announces that, in accordance with the Company's stock option plan, it has granted to certain of its directors, officers, employees and consultants incentive stock options to purchase up to an aggregate of 1,050,000 common shares exercisable on or before August 10, 2016 at a price of $0.75 per share.

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 Resources Inc. is the operator of the current drilling 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 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

ROXGOLD INC.

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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