SEMAFO Inc.
TSX : SMF
OMX : SMF

SEMAFO Inc.

February 20, 2014 08:24 ET

SEMAFO's Pompoi Nord Permit Reveals Promising 15-Kilometer Geochemical Anomaly Trend

Milling Ore from the High-Grade Siou Deposit is Underway

MONTREAL, QUEBEC--(Marketwired - Feb. 20, 2014) - SEMAFO (TSX:SMF)(OMX:SMF) today announced that ongoing auger drilling on the newly acquired Pompoi Nord permit revealed gold geochemical anomalies along the east contact of the Siou intrusive. These new anomalies, which overlap with the North Apex soil anomalies, show a continuous linear trend over more than 15 kilometers that remains open in both directions.

Auger drilling was initiated on the Pompoi Nord permit in order to explore the interpreted east contact of the Siou intrusive (Figure 1). The current auger program, which includes approximately 40,000 meters of drilling over both the Pompoi Nord and the Bara permits, is expected to be completed in the first half of 2014. On Pompoi Nord, auger drilling reaches the saprolite, which is generally between five and 20 meters below the surface. As shown in Figure 2, anomalies appear to follow the east contact of the intrusive, which is parallel to the Kokoi shear zone, host to the Siou deposit. Ongoing geological mapping along the east contact revealed both shearing and sericite alteration similar to that observed at Siou. Individual auger drilling assay results range up to 1,020 ppb, and although higher values are important, the continuity and the strike length of the trend make it a top priority target for follow-up reverse-circulation drilling in 2014.

Milling Ore from Siou is Underway

SEMAFO also announced that the milling of ore from the high-grade Siou deposit has commenced. Four shovels, one loader and 15 trucks are currently active on the first bench of the Siou open pit. Since the beginning of activities at Siou in late December 2013, approximately three million tonnes of waste and 30,000 tonnes of ore have been moved. The Corporation expects to attain the full mining rate from Siou in the second quarter of 2014. The 17-kilometer road from Siou to the processing plant is almost finished, with only a few culverts yet to be completed.

Michel Crevier, P.Geo MScA, Vice-President, Exploration and Mine Geology is SEMAFO's Qualified Person and has reviewed this press release for accuracy and compliance with National Instrument 43-101.

About SEMAFO

SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation currently owns and operates the Mana Mine in Burkina Faso, which includes the high-grade satellite Siou and Fofina deposits. SEMAFO is committed to evolve in a conscientious manner through the responsible development of its Mana property. SEMAFO's strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities.

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 "expected", "committed", "evolve", "become", "pursuing", "growth", "opportunities" 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 complete our auger program over the Pompoi Nord and the Bara permits in the first half of 2014, the ability to attain the full mining rate from Siou in the second quarter of 2014, the ability to execute on our strategic focus, fluctuation in the price of currencies, gold or operating costs, mining industry risks, uncertainty as to the 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 2012 Annual MD&A, as updated in SEMAFO's 2013 First Quarter MD&A, 2013 Second Quarter MD&A, 2013 Third Quarter MD&A and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. These documents are also available on our website at www.semafo.com. SEMAFO disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.

The above information has been made public in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act.

Figures are available at the following address: http://media3.marketwire.com/docs/928610_SEMAFO_Maps.pdf

Contact Information