SEMAFO's Delineation Drilling at Siou Extends Mineralization: Results Include 10.68 g/t Au Over 12 Meters and 23.88 g/t Au Over 3.5 Meters

25 Meter x 25 Meter RC Drilling Complete and Revision of Reserve/Resource Estimations Underway

Marketwired

MONTREAL, QUEBEC--(Marketwired - Aug. 1, 2013) - SEMAFO Inc. (SMF.TO)(SMF.ST) today announced that the Corporation completed diamond and reverse circulation ("RC") delineation drilling at the Siou Sector at 25 meter x 25 meter spacing, down to approximately 150 meters. Drilling was also carried out at 50 meter x 50 meter spacing on some of the known extensions of the deposit. In addition, drilling within the deeper south area has returned consistent mineralization. Given the excellent results from the Siou south extension (ref. SEMAFO's press release dated May 1, 2013) and the availability of rigs on site, the Corporation decided to proceed with the drilling originally scheduled for the fourth quarter of 2013. This program, which consisted of 3,847 meters of drilling, has been completed and the results are to be incorporated in our next reserves and resources estimate scheduled for September 2013.

Delineation drilling was completed in June 2013 with a total of 129 core holes (25,001 meters) and 237 RC holes (30,674 meters). The following table presents the recent drilling program results for zones Nine and Siou, along with zones 55 and 56, which represent branches of the Nine Zone.

Delineation Drilling Result Highlights
(Greater Than 50 Gram-Meters)
DDH No. Zone Section (N) From To Au* / Length**
MRC13-3435 Nine 1322125 164.0 168.0 15.49 g/t / 4.0 m
MRC13-3436 Siou 1322125 131.0 135.0 13.18 g/t / 4.0 m
MRC13-3505 Nine 1322125 182.0 191.0 12.66 g/t / 9.0 m
WDC754 Nine 1322075 192.0 198.0 10.96 g/t / 6.0 m
MRC13-3426 Nine 1322025 153.0 159.0 14.32 g/t / 6.0 m
WDC750 Nine 1322025 188.5 194.0 14.41 g/t / 5.5 m
MRC13-3420 Nine 1321975 167.0 174.0 11.64 g/t / 7.0 m
MRC13-3414 Nine 1321925 136.0 140.0 13.25 g/t / 4.0 m
MRC13-3406 Siou 1321875 126.0 135.0 8.42 g/t / 9.0 m
MRC13-3408 Siou 1321875 94.0 101.0 10.49 g/t / 7.0 m
MRC13-3408 Nine 1321875 103.0 111.0 7.73 g/t / 8.0 m
MRC13-3400 Siou 1321825 101.0 106.0 13.52 g/t / 5.0 m
MRC13-3401 Siou 1321825 81.0 84.0 20.68 g/t / 3.0 m
MRC13-3403 Siou 1321825 40.0 48.0 7.62 g/t / 8.0 m
MRC13-3242 Siou 1321775 102.0 107.0 12.22 g/t / 5.0 m
MRC13-3243 Siou 1321775 81.0 87.0 19.34 g/t / 6.0 m
MRC13-3244 Siou 1321775 76.0 80.0 16.29 g/t / 4.0 m
MRC13-3245 Siou 1321775 58.0 61.0 22.22 g/t / 3.0 m
MRC13-3247 Siou 1321775 12.0 15.0 21.82 g/t / 3.0 m
MRC13-3236 Siou 1321725 83.0 87.0 27.36 g/t / 4.0 m
MRC13-3237 Siou 1321725 79.0 83.0 15.06 g/t / 4.0 m
MRC13-3240 Siou 1321725 41.0 46.0 16.66 g/t / 5.0 m
MRC13-3241 Nine 1321725 23.0 29.0 12.03 g/t / 6.0 m
MRC13-3231 Siou 1321675 99.0 105.0 12.60 g/t / 6.0 m
MRC13-3232 Siou 1321675 80.0 85.0 20.88 g/t / 5.0 m
MRC13-2877 Siou 1321625 90.0 95.0 13.32 g/t / 5.0 m
MRC13-2878 Siou 1321625 87.0 91.0 18.58 g/t / 4.0 m
MRC13-2884 Siou 1321575 108.0 112.0 17.16 g/t / 4.0 m
MRC13-2885 Siou 1321575 69.0 74.0 12.08 g/t / 5.0 m
MRC13-2886 Siou 1321575 50.0 54.0 22.66 g/t / 4.0 m
WDC735 Siou 1321550 106.7 108.7 36.37 g/t / 2.0 m
MRC13-2889 Siou 1321525 83.0 88.0 10.40 g/t / 5.0 m
MRC13-2890 Siou 1321525 81.0 84.0 21.82 g/t / 3.0 m
MRC13-2891 Siou 1321525 59.0 65.0 14.18 g/t / 6.0 m
MRC13-2892 Siou 1321525 42.0 46.0 21.61 g/t / 4.0 m
MRC13-2893 Siou 1321525 25.0 27.0 35.72 g/t / 2.0 m
MRC13-2898 Siou 1321475 27.0 31.0 21.75 g/t / 4.0 m
WDC715 Siou 1321450 105.6 116.0 8.50 g/t / 10.4 m
WDC739 Nine 1321400 220.0 225.0 12.35 g/t / 5.0 m
MRC13-3329 Nine 1321375 140.0 151.0 13.63 g/t / 11.0 m
WDC749 Nine 1321375 170.0 178.0 7.00 g/t / 8.0 m
WDC727 Nine 1321350 170.5 183.5 7.55 g/t / 13.0 m
MRC13-3305 Nine 1321325 149.0 167.0 3.37 g/t / 18.0 m
WDC762 Nine 1321325 178.0 184.0 11.18 g/t / 6.0 m
WDC716 Nine 1321300 185.3 194.2 8.11 g/t / 8.9 m
MRC13-3309 Nine 1321275 130.0 132.0 40.00 g/t / 2.0 m
MRC13-3313 56 1321225 105.0 110.0 16.62 g/t / 5.0 m
WDC751 Nine 1321225 188.0 193.1 13.49 g/t / 5.1 m
MRC13-3321 Nine 1321175 129.0 143.0 9.83 g/t / 14.0 m
MRC13-3322 Nine 1321175 151.0 157.0 13.80 g/t / 6.0 m
MRC13-3326 Nine 1321125 135.0 143.0 8.45 g/t / 8.0 m
MRC13-3327 Nine 1321125 122.0 128.0 11.01 g/t / 6.0 m
MRC13-3328 Nine 1321125 151.0 158.0 15.67 g/t / 7.0 m
MRC13-3447 56 1321075 157.0 165.0 6.53 g/t / 8.0 m
* All individual samples are cut at 40 g/t Au for the Siou, 55 and Nine zones, other zones are cut at 35 g/t Au. Uncut assays are not presented in this table.
**All lengths are measured along the hole axis; which is interpreted to be roughly equivalent to true widths. 

Both continuity and grades remained in line with expectations. Additionally, detailed drilling provided a better understanding of some of the parallel zones including the 55 and 56 zones, which are interpreted as branches originating from the Nine Zone (ref. Figure 1). Within the 55 and 56 zones, mineralization appears more erratic than in the Nine and Siou zones but locally, gold mineralization can be traced over up to 300 meters in length.

Further drilling at 200-meter to 300-meter depths in the south part of the deposit where significant results were previously obtained (e.g. Section 1321000N WDC-681: 8.66 g/t Au over 4.1 meters at the Nine Zone and 3.88 g/t Au over 7.3 meters at the Siou Zone) added many new significant intervals. Results including holes WDC-711 (5.82 g/t Au over 13.3 meters), WDC-769 (19.76 g/t Au over 3.0 meters), and WDC-764 (4.40 g/t Au over 13.8 meters) cover an area of more than 300 meters long where Zone Nine and Zone 56 both returned high grade mineralization over above-average widths. Other results above 20 gram-meters within this area are presented below (ref. Figure 2)).

South Extension Result Highlights
(Greater Than 20 Gram-Meters)
DDH No. Zone Section (N) From To Au* / Length**
WDC711 Nine 1321200 215.7 229.0 5.82 g/t / 13.3 m
WDC743 Nine 1321175 163.0 167.0 5.47 g/t / 4.0 m
WDC770 56 1321150 197.0 198.8 11.53 g/t / 1.8 m
WDC770 Nine 1321150 200.5 204.0 23.88 g/t / 3.5 m
WDC760 56 1321100 216.0 219.3 9.51 g/t / 3.3 m
WDC760 Nine 1321100 226.4 231.0 14.60 g/t / 4.6 m
WDC764 56 1321100 279.0 284.2 9.43 g/t / 5.2 m
WDC764 Nine 1321100 292.0 305.8 4.40 g/t / 13.8 m
WDC772 Nine 1321050 236.0 244.0 2.60 g/t / 8.0 m
WDC776 Nine 1321050 171.7 174.9 12.86 g/t / 3.2 m
WDC758 Nine 1321000 267.0 279.0 10.68 g/t / 12.0 m
WDC769 56 1320950 228.0 231.0 19.76 g/t / 3.0 m
* All individual samples are cut at 40 g/t Au for the Siou, 55 and Nine zones, other zones are cut at 35 g/t Au. Uncut assays are not presented in this table.
**All lengths are measured along the hole axis; which is interpreted to be roughly equivalent to true widths. 

SEMAFO is currently performing the geological modelling and the reserve/resource estimation, along with a proposed mine plan for the Siou deposit. We are progressing towards production faster than initially planned with stripping activities now scheduled for the third quarter of 2014 instead of the fourth quarter of 2014.

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.

All individual samples represent approximately one-meter in length of core which was sawn in half. Half of the core is kept on site for reference and its counterpart is sent for preparation and gold assaying at the ALS Chemex laboratories in Ouagadougou, Burkina Faso or at SEMAFO's Mana Mine Lab which uses separate sample preparation equipment exclusive to exploration samples. For RC drilling, all individual samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximately 2kg subsample which is sent for preparation and gold assaying at the ALS Chemex laboratories in Ouagadougou, Burkina Faso or at SEMAFO's Mana Mine Lab. Each sample (core, and RC) is fire-assayed for gold content on a 50-gram sub-sample. In addition to ALS Chemex's own QA/QC (Quality Assurance/Quality Control) program and Mana Lab's own QA/QC program, an internal quality control and quality assurance program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards at both ALS samples and Mana Lab samples.

About SEMAFO

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.

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 "underway", "scheduled for", "progressing", "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 update our reserves and resources for September 2013, the ability to begin stripping activities at Siou in the third 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 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 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

Maps are available at the following address: http://media3.marketwire.com/docs/0731SEMAFO.pdf

Contact:
SEMAFO
Robert LaValliere
Vice-President, Investor Relations
Cell: +1 (514) 240 2780
robert.lavalliere@semafo.com

Sofia St Laurent
Communications & Investor Relations
Tel. local & overseas: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408
sofia.stlaurent@semafo.com
www.semafo.com

Maria Bang
Brunswick Group Stockholm
+46 (8) 410 32 189
mbang@brunswickgroup.com

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