September 30, 2011 15:15 ET

SEMAFO Provides an Update on Operations at its Kiniero Mine in Guinea

MONTREAL, QUEBEC--(Marketwire - Sept. 30, 2011) - SEMAFO (TSX:SMF) today provided an update on the temporary suspension of operations at its Kiniero mine in Guinea following an illegal protest by a group of local residents on Sunday, September 18, 2011.

A delegation representing the Government of Guinea is currently on site at the Kiniero mine to assess the situation and provide their recommendation on how to best move forward.

Mr. Guillaume CURTIS, Guinea's Secretary General and Minister of Mines & Geology issued a letter to the Corporation affirming the Government's outrage and disdain for the recent events. "The Government strongly condemns these heinous acts that are the work of an exceptional group of malicious individuals and do not represent the legendary tradition of hospitality of our people. Measures are being taken to shed light on these incidents in order to ensure that such events will not be repeated." The Minister also reassured that, "The Government is committed now, more than ever, to secure and protect SEMAFO's national and expatriate staff as well as its installations."

"We continue to monitor the situation closely and are in constant contact with our Managing Director," said Benoit Desormeaux, SEMAFO's Executive Vice-President and Chief Operating Officer. "The stoppage is a precautionary measure following a protest by local residents around the property. At this time, we cannot ascertain when operations will resume. We are collaborating closely with the government to establish the best possible conditions to return to normal operations."

Management remains confident that the Corporation will meet its 2011 annual production guidance of between 238,000 and 263,000 ounces of gold.


SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation 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.


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 "move forward", "ensure", "be repeated", "guidance", "committed", "evolve", "become", "pursuing", "growth" 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 ability to ensure that the recent events at our Kiniero mine will not be repeated, the ability of the Government of Guinea to secure and protect SEMAFO's national and expatriate staff as well as our installations, the ability to meet our 2011 annual production guidance of between 238,000 and 263,000 ounces of gold, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO's 2011 First Quarter MD&A and 2011 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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