October 05, 2010 09:11 ET

SEMAFO Produces 65,500 Ounces of Gold in Q3 2010

SEMAFO to Release Third Quarter 2010 Financial Results on November 10, 2010

MONTREAL, QUEBEC--(Marketwire - Oct. 5, 2010) - SEMAFO (TSX:SMF) today announced that record gold production at the Company's Mana Mine spearheaded another solid production performance of 65,500 ounces for the third quarter 2010, representing an increase of 5% over the same period last year.

"Our flagship Mana Mine continues to outperform. Efficient and effective operations have resulted in a new best ever quarterly production of 46,400 ounces of gold," said Benoit Desormeaux, Executive Vice-President and Chief Operating Officer. "Mana accounted for 71% of SEMAFO's total production for the three-month period ended September 30, 2010."

"Our average realized gold price for the quarter was $1,241 per ounce, $14 per ounce above the London Gold Fix (PM)," said Benoit La Salle, SEMAFO's President and Chief Executive Officer. "As a result of our successful gold selling strategy, SEMAFO's average realized gold price surpassed the average London Gold Fix (PM) for a seventh consecutive quarter."

The Company's third quarter results for the three-month period ended September 30, 2010 will be released after market close on Wednesday, November 10, 2010. The financial statements will be available on the Company's website at or at

SEMAFO will host a conference call to discuss the results, as well as to provide an update on operations.

Conference Call: Date: Thursday, November 11, 2010
  Time: 10:00 AM (ET)
  Tel. local & overseas: (416) 981 9000
  Tel. North America: 1 (800) 750 5857

The conference call will feature Benoit La Salle, President and Chief Executive Officer, Benoit Desormeaux, Executive Vice-President and Chief Operating Officer, Martin Milette, Chief Financial Officer, Michel Crevier, SEMAFO's Geology Manager and Qualified Person, and Patrick Moryoussef, Mining Operations Manager.

The conference call will be archived for replay until December 3, 2010. To access the archived conference call, please dial 1 (800) 558 5253 and enter pass code 21484273 followed by the number sign (#).

A live audio webcast of the conference can be accessed through SEMAFO's website at The webcast will be available for replay for a period of 60 days.

Production numbers are preliminary and may be subject to final adjustment. Further information will be published in the Company's third quarter operating and financial results to be released after market close on November 10, 2010. 


SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Company currently operates three gold mines: the Mana Mine in Burkina Faso, the Samira Hill Mine in Niger and the Kiniero Mine in Guinea. SEMAFO is committed to evolve in a conscientious manner to become a major player in its geographical area of interest. SEMAFO's strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities in West Africa.

Caution Concerning Forward-looking Statements

This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as "evolve", "become", "pursuing" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the final adjustments to our production numbers, the ability to execute on our strategic focus, fluctuation in the price of currencies, gold or operating costs, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays, political and social stability in Africa (including our ability to maintain or renew licenses and permits) and other risks described in SEMAFO's documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO's 2009 Annual MD&A, as updated by our 2010 First Quarter MD&A and 2010 Second Quarter MD&A, and other filings made with Canadian securities regulatory authorities and available at These documents are also available on our website at SEMAFO disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.

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