5-Year Average Target of 413,000 Ounces of Annual Production, AISC $696

MONTREAL, Quebec, Feb. 15, 2018 (GLOBE NEWSWIRE) --

SEMAFO Inc. (TSX:SMF) (OMX:SMF) today announced positive pre-feasibility study (PFS) results at Mana, the addition of 188,000 ounces of reserves, primarily at Siou underground, and an increase of 203,000 ounces of reserves at Boungou. As a result, the Corporation is providing the following consolidated five-year operational targets.

Table 1 - Five-Year Operational Targets

                        ----------------------------------------------------
                                                                  2019-2023
                            2019    2020    2021    2022    2023     Average
                        ----------------------------------------------------
                                                                           
Production(1,2,3)                                                          
Mana ('000 oz)               192     213     213     213     214         209
Boungou ('000 oz)            226     226     201     186     180         204
                             418     439     414     399     394         413
                                                                           
AISC(1,2,4,5)                                                              
Mana ($/oz)                  906   1,079     887     823     660         871
Boungou ($/oz)               419     405     527     606     626         516
                             643     733     712     721     643         696
                                                                            
Operating Cash Flow (at $1,300/oz) Total                                   
Revenue ($M)                 543     571     539     518     512       2,683
AISC ($M)                    268     321     295     287     253       1,424
                             275     250     244     231     259       1,259
                                                                           
----------------------------------------------------------------------------
(1)  Mana results are based on the Mana PFS by Micon International Ltd.,   
     presented in Appendix 3.                                              
(2)  Boungou results are based on the updated mine plan presented in       
     Appendix 4.                                                            
(3)  Assumption: Mineral reserves were estimated using a gold price of     
     $1,200/ oz.                                                           
(4)  All-in sustaining cost is a non-IFRS financial performance measure with
     no standard definition under IFRS and represents the total cash cost, 
     plus sustainable capital expenditures and stripping costs per ounce.  
(5)  The Mana AISC in the PFS has been updated for this analysis. The costs
     in the PFS are comparable to current costs except for the US/Euro     
     exchange rate, which has fallen approx. 10%. Roughly 75% of the AISC is
     based on CFA, which is linked to the Euro. The AISC has therefore been
     increased by 10% for the 75% of the cost base.                        

Highlights of Mana Pre-feasibility Study

--  Siou underground reserves stand at 3,035,000 tonnes at 5.29 g/t Au for
    515,800 ounces
--  Siou open-pit reserves stand at 1,579,000 tonnes at 3.57 g/t Au for
    181,200 ounces
--  Mana added 188,000 ounces of reserves before depletion, mainly from Siou
    underground
--  Mana annual production will average over 200,000 ounces between 2019 and
    2023 at an all-in sustaining cost of $810 per ounce at a gold price of
    $1,200
--  Pre-production capital expenditure of $51.7 million, to be financed with
    existing cash
--  Underground operations eliminate the need to mine 62 million tonnes of
    open pit waste
--  Mineral reserves at Mana stand at 18.2 million tonnes at a grade of 2.92
    g/t Au for 1,710,300 ounces at year-end 2017 based on a gold price of
    $1,200 per ounce
   

Mana Pre-feasibility Study

The Mana PFS provides a revised mine plan for all of Mana, including the Wona-Kona open pit, Siou open pit and Siou underground (see Appendix 3). An updated mineral reserves and resources statement for Mana is provided in Appendix 1.
The PFS investigated the potential for extracting the deeper zone of the Siou deposit using underground mining operations, mainly long-hole stoping. Access to the operations will be through a single portal and a 5.5- by 5.5-meter ramp at a 14-gradient slope. The location of the portal will allow mining in the northern part of the Siou pit to continue uninterrupted. The ultimate size of the underground mining operation will be more than 600 meters along strike by 200 meters deep. Figure 1 illustrates the underground mining layout for the Siou mine.

To view Figure 1 - Underground mining layout for the Siou mine  click here: http://www.globenewswire.com/NewsRoom/AttachmentNg/2357d3e5-87a2-4dbc-9bd4-b105d3b03ac1

The PFS is based on a 2,000-tpd operation using contractor mining with discussions already ongoing with potential contractors. The underground mining costs are estimated at $70 per tonne milled. The 18-month development period is expected to begin in the third quarter of 2018.

Table 2 provides an overview of the major milestones for development of Siou underground.

To view Table 2 -Timeline for Development of Siou Underground, click here: http://www.globenewswire.com/NewsRoom/AttachmentNg/a1214c37-5f2f-49c6-8912-25c625afa09e

The mineral reserves and resources were estimated as at December 31, 2017 in accordance with the definitions adopted by the Canadian Institute of Mining Metallurgy and Petroleum and incorporated into National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101).

The PFS for the Mana Mine was carried out by an in-house team whose work was reviewed by qualified persons from Micon International Ltd. Micon International Ltd. has reviewed this press release for accuracy and compliance with NI 43-101. Further details will be presented in a NI 43-101 compliant report to be filed on SEDAR within 45 days of the date of this press release.

Boungou Reserves & Resources Update

The 2017 infill drill program at Boungou added 203,000 ounces of reserves and 201,000 ounces of measured and indicated resources. The additional reserves have been pit-constrained at a $1,200 gold price and are included in the updated reserves and resources statement in Appendix 2. As at December 31, 2017, mineral reserves at Boungou stood at 11.2 million tonnes at 4.11 g/t Au for 1.5 million ounces of gold. The additional reserves support an average production profile of over 200,000 ounces per year between 2019 and 2023 at an average AISC of $516 per ounce. The updated Boungou mine plan is presented in Appendix 4.

An internal trade-off study was conducted on the West Flank in order to determine whether open pit or underground was the optimal mining approach. Open-pit mining provided better returns compared to an underground mining method. The remaining underground resources are included in the measured and indicated category, but are not included in the mine plan. Given the open-pit option, no pre-feasibility study is necessary.

The mineral reserves and resources were estimated as at December 31, 2017 in accordance with the definitions adopted by the Canadian Institute of Mining Metallurgy and Petroleum and incorporated into National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101). Mineral reserves and resources estimates for the Boungou Mine were carried out by an in-house team under the direction of Michel Crevier P.Geo MScA, Vice-President, Exploration and Mine Geology and SEMAFO's Qualified Person.

Conference Call

The Corporation will hold a conference call on Friday, February 16 to discuss the pre-feasibility results for Siou underground and the multi-year plan. Interested parties are invited to join the call and webcast at 8 a.m. EST.

Tel. local & overseas: +1 (647) 788 4922

Tel. North America: 1 (877) 223 4471

Webcast: www.semafo.com

Replay number: 1 (800) 585 8367 or 1 (416) 621 4642

Replay pass code: 8085779

Replay expiration: March 15, 2018

About SEMAFO

SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation operates the Mana Mine in Burkina Faso, which includes the high-grade satellite deposit of Siou, and is targeting production start-up of the Boungou Mine in the third quarter of 2018. 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 "targets", "assumptions", "will", "assumes", "estimated", "milestones", "expected" 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 meet our consolidated five-year operational targets, the ability to meet Mana annual production to average over 200,000 ounces between 2019 and 2023 at an all-in-sustaining cost of $810 per ounce at a gold price of $1,200, the ability to be in line with all assumptions contained in the PFS, the ability to meet all milestones for the development of Siou underground, 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 2016 Annual MD&A, as updated in SEMAFO's 2017 First Quarter MD&A, 2017 Second Quarter MD&A and 2017 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 information in this release is subject to the disclosure requirements of SEMAFO under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on February 15, 2018 at 5:00 p.m., Eastern Standard Time.

For more information, contact

SEMAFO                                                                     
John Jentz                                                                 
Vice-President, Corporate Development & Investor Relations                 
Email: John.Jentz@semafo.com                                               
                                                                           
Ruth Hanna                                                                 
Analyst, Investor Relations                                                
Email: Ruth.Hanna@semafo.com                                               
                                                                           
Tel. local & overseas: +1 (514) 744 4408                                    
North America Toll-Free: 1 (888) 744 4408                                  
Website: http://www.semafo.com/                                            

Appendix 1 - 2017 Reserves and Resources

Mana, Burkina Faso(1,2,3)

             ---------------------------------------------------------------
                                         DECEMBER 31, 2017                 
                               ---------------------------------------------
                                              PROVEN RESERVES              
                                                        Grade              
                  DEPOSITS             Tonnage       (g/t Au)      Ounces(4)
----------------------------------------------------------------------------
             WONA-KONA               6,062,000           2.33        453,500
             NYAFE                     265,000           5.81         49,600
             FOFINA                     33,000           4.66          4,900
             SIOU OP                 1,400,000           3.78        170,200
             SIOU UG                 1,047,000           5.10        171,600
             YAMA                            -              -              -
             ROMPAD                    317,000           1,84         18,800
MANA(1.2.3)  TOTAL                   9,124,000           2.96        868,600
----------------------------------------------------------------------------

             ---------------------------------------------------------------
                                         DECEMBER 31, 2017                 
                               ---------------------------------------------
                                             PROBABLE RESERVES              
                                                        Grade              
                  DEPOSITS             Tonnage       (g/t Au)      Ounces(4)
----------------------------------------------------------------------------
             WONA-KONA               6,280,000           2.22        448,900
             NYAFE                       6,000           3.96            700
             FOFINA                      3,000           3.94            300
             SIOU OP                   179,000           1.92         11,000
             SIOU UG                 1,988,000           5.38        344,200
             YAMA                      651,000           1.75         36,600
             ROMPAD                          -              -              -
MANA(1.2.3)  TOTAL                   9,107,000           2.88        841,700
----------------------------------------------------------------------------

             ---------------------------------------------------------------
                                         DECEMBER 31, 2017                 
                               ---------------------------------------------
                                               TOTAL RESERVES               
                                                        Grade              
                  DEPOSITS             Tonnage       (g/t Au)      Ounces(4)
----------------------------------------------------------------------------
             WONA-KONA              12,342,000           2.27        902,400
             NYAFE                     271,000           5.77         50,300
             FOFINA                     36,000           4.49          5,200
             SIOU OP                 1,579,000           3.57        181,200
             SIOU UG                 3,035,000           5.29        515,800
             YAMA                      651,000           1.75         36,600
             ROMPAD                    317,000           1.84         18,800
MANA(1.2.3)  TOTAL                  18,231,000           2.92      1,710,300
----------------------------------------------------------------------------
                                                                           
             ---------------------------------------------------------------
                                             DECEMBER 31, 2017             
                               ---------------------------------------------
                                                  MEASURED                 
                                                        Grade              
                       DEPOSITS        Tonnage       (g/t Au)      Ounces(4)
----------------------------------------------------------------------------
             WONA-KONA               1,331,000           2.05         87,800
             NYAFE                     286,000           3.94         36,300
             FOFINA                    293,000           4.25         40,000
             YAHO                    5,738,000           0.91        168,500
             FILON 67                   26,000           2.72          2,300
             FOBIRI                    469,000           1.80         27,100
             SIOU OP                    67,000           0.63          1,400
             SIOU UG                   513,000           3.23         53,200
             YAMA                            -              -              -
MANA(1.2.3)  TOTAL                   8,723,000           1.49        416,600
----------------------------------------------------------------------------

                                                                           
             ---------------------------------------------------------------
                                             DECEMBER 31, 2017             
                               ---------------------------------------------
                                                 INDICATED                  
                                                        Grade              
                       DEPOSITS        Tonnage       (g/t Au)      Ounces(4)
----------------------------------------------------------------------------
             WONA-KONA              21,623,000           2.55      1,775,600
             NYAFE                     223,000           5.97         42,700
             FOFINA                    253,000           4.45         36,100
             YAHO                   11,636,000           0.88        330,800
             FILON 67                    9,000           3.59          1,000
             FOBIRI                    114,000           1.52          5,600
             SIOU OP                    56,000           0.65          1,200
             SIOU UG                   787,000           3.25         82,300
             YAMA                       99,000           1.56          4,900
MANA(1.2.3)  TOTAL                  34,800,000           2.04      2,280,200
----------------------------------------------------------------------------

                                                                           
             ---------------------------------------------------------------
                                             DECEMBER 31, 2017             
                               ---------------------------------------------
                                              TOTAL RESOURCES               
                                                        Grade              
                       DEPOSITS        Tonnage       (g/t Au)      Ounces(4)
----------------------------------------------------------------------------
             WONA-KONA              22,954,000           2.52      1,863,400
             NYAFE                     509,000           4.83         79,000
             FOFINA                    546,000           4.34         76,100
             YAHO                   17,374,000           0.89        499,300
             FILON 67                   35,000           2.93          3,300
             FOBIRI                    583,000           1.74         32,700
             SIOU OP                   123,000           0.66          2,600
             SIOU UG                 1,300,000           3.24        135,500
             YAMA                       99,000           1.54          4,900
MANA(1.2.3)  TOTAL                  43,523,000           1.93      2,696,800
----------------------------------------------------------------------------
             ---------------------------------------------------------------
                                             DECEMBER 31, 2017             
                                                  INFERRED                 
                                                        Grade              
             DEPOSITS                  Tonnage       (g/t Au)      Ounces(4)
----------------------------------------------------------------------------
             WONA-KONA               3,466,000           2.96        329,600
             NYAFE                     151,000           5.87         28,400
             FOFINA                     67,000           4.20          9,100
             YAHO                      223,000           0.78          5,600
             FILON 67                    6,000           6.32          1,100
             FOBIRI                    578,000           1.39         25,800
             MAOULA                  2,628,000           1.62        137,100
             SIOU                    2,093,000           3.86        259,900
             YAMA                       58,000           1.33          2,500
MANA(1.2.3)  TOTAL                   9,270,000           2.68        799,100
----------------------------------------------------------------------------
(1)  The Corporation indirectly owns 90% of SEMAFO Burkina Faso S.A. which 
     directly holds the interest in the Mana Mine reserves and resources.  
(2)  Mineral reserves and resources were estimated using a gold price of   
     $1,200 and $1,400 per ounce, respectively.                            
(3)  All mineral resources reported are exclusive of mineral reserves.     
(4)  Rounding of numbers of tonnes and ounces may present slight differences
     in the figures.                                                       

Appendix 2 - Consolidated Reserves and Resources

----------------------------------------------------------------------------
PROPERTY                                 Mana(1.2.4.5.6)    Tapoa(1.2.4.5.6)
                                                                           
                                                              (Boungou Mine)
----------------------------------------------------------------------------
MINERAL RESERVES                                                           
----------------------------------------------------------------------------
Proven                                                                     
----------------------------------------------------------------------------
Tonnes                                         9,124,000           1,584,000
Grade (g/t Au)                                      2.96                6.45
Ounces                                           868,600             329,000
----------------------------------------------------------------------------
Probable                                                                   
----------------------------------------------------------------------------
Tonnes                                         9,107,000           9,611,000
Grade (g/t Au)                                      2.88                3.72
Ounces                                           841,700           1,150,000
----------------------------------------------------------------------------
TOTAL MINERAL RESERVES                                                      
----------------------------------------------------------------------------
Tonnes                                        18,231,000          11,195,000
Grade (g/t Au)                                      2.92                4.11
Ounces                                         1,710,300           1,479,000
----------------------------------------------------------------------------
MINERAL RESOURCES (exclusive of reserves)                                  
----------------------------------------------------------------------------
Measured                                                                   
----------------------------------------------------------------------------
Tonnes                                         8,723,000              62,000
Grade (g/t Au)                                      1.49                1.86
Ounces                                           416,600               4,000
----------------------------------------------------------------------------
Indicated                                                                  
----------------------------------------------------------------------------
Tonnes                                        34,800,000           4,768,000
Grade (g/t Au)                                      2.04                2.66
Ounces                                         2,280,200             408,000
----------------------------------------------------------------------------
TOTAL M&I                                                                  
----------------------------------------------------------------------------
Tonnes                                        43,523,000           4,830,000
Grade (g/t Au)                                      1.93                2.65
Ounces                                         2,696,800             412,000
----------------------------------------------------------------------------
Inferred                                                                    
----------------------------------------------------------------------------
Tonnes                                         9,270,000             855,000
Grade (g/t Au)                                      2.68                2.08
Ounces                                           799,100              57,000
----------------------------------------------------------------------------

----------------------------------------------------------------------------
PROPERTY                              Yactibo(1.3.4.5.7)               Total
                                                                           
                                       (Nabanga Project)                   
----------------------------------------------------------------------------
MINERAL RESERVES                                                           
----------------------------------------------------------------------------
Proven                                                                     
----------------------------------------------------------------------------
Tonnes                                                 -          10,708,000
Grade (g/t Au)                                         -                3.48
Ounces                                                 -           1,197,600
----------------------------------------------------------------------------
Probable                                                                    
----------------------------------------------------------------------------
Tonnes                                                 -          18,718,000
Grade (g/t Au)                                         -                3.31
Ounces                                                 -           1,991,700
----------------------------------------------------------------------------
TOTAL MINERAL RESERVES                                                     
----------------------------------------------------------------------------
Tonnes                                                 -          29,426,000
Grade (g/t Au)                                         -                3.37
Ounces                                                 -           3,189,300
----------------------------------------------------------------------------
MINERAL RESOURCES (exclusive of reserves)                                  
----------------------------------------------------------------------------
Measured                                                                   
----------------------------------------------------------------------------
Tonnes                                                 -           8,785,000
Grade (g/t Au)                                         -                1.49
Ounces                                                 -             420,600
----------------------------------------------------------------------------
Indicated                                                                   
----------------------------------------------------------------------------
Tonnes                                                 -          39,568,000
Grade (g/t Au)                                         -                2.11
Ounces                                                 -           2,688,200
----------------------------------------------------------------------------
TOTAL M&I                                                                   
----------------------------------------------------------------------------
Tonnes                                                 -          48,353,000
Grade (g/t Au)                                         -                2.00
Ounces                                                 -           3,108,800
----------------------------------------------------------------------------
Inferred                                                                    
----------------------------------------------------------------------------
Tonnes                                         1,840,000          11,965,000
Grade (g/t Au)                                     10.00                3.76
Ounces                                           590,000           1,446,100
----------------------------------------------------------------------------
(1)  The Corporation indirectly owns a 100% interest in all of its permits.
     except for the permits held by SEMAFO Burkina Faso S.A. and SEMAFO    
     Boungou S.A., respectively, in which the Government of Burkina Faso   
     holds a 10% interest.                                                 
(2)  Mineral reserves and resources at Mana and at Tapoa (Boungou Mine) were
     estimated using a gold price of $1,200 and $1,400 per ounce.          
     respectively.                                                         
(3)  Mineral resources at Yactibo Permit Group (Nabanga project) were      
     reported above a 5.0 g/t Au cut-off grade.                            
(4)  Rounding of numbers of tonnes and ounces may present slight differences
     in the figures.                                                       
(5)  All mineral resources reported are exclusive of mineral reserves.     
(6)  As of December 31. 2017.                                              
(7)  As of June 30. 2015.                                                  

Appendix 3 - Mana Consolidated Life of Mine Plan

----------------------------------------------------------------------------
                                              2018        2019          2020
----------------------------------------------------------------------------
SIOU UG                                                                     
Ore processed (t)                                -      65,000       654,000
Head grade (g/t)                                 -        5.23          5.61
Recovery (%)                                   96%         96%           96%
Gold recovered (oz)                              -      10,531       113,206
Cash operating cost per tonne                                              
 ($/t)                             (1)           -          22           106
                                                                           
----------------------------------------------------------------------------
SIOU                                                                       
Waste (t)                               12,835,000  15,205,000             -
Ore processed (t)                          711,000     867,000             -
Head grade (g/t)                               3.5        3.63             -
Recovery (%)                                   96%         96%             -
Gold recovered (oz)                         76,734      97,212             -
Cash operating cost per tonne                                              
 ($/t)                             (1)          70          68             -
                                                                           
----------------------------------------------------------------------------
WONA                                                                       
Waste (t)                               21,126,000  22,566,000    32,189,000
Ore processed (t)                        1,411,000   1,277,000     1,646,000
Head grade (g/t)                              2.31        2.53          2.31
Recovery (%)                                   81%         81%           81%
Gold recovered (oz)                         85,050      84,047        99,234
Cash operating cost per tonne                                              
 ($/t)                             (1)          60          66            70
                                                                           
----------------------------------------------------------------------------
Other (Nyafe + Yama + Rompad + Fofina)                                      
Gold recovered (oz)                         19,694           -             -
                                                                           
----------------------------------------------------------------------------
MANA CONSOLIDATED                                                           
Waste (t)                               34,066,000  37,771,000    32,189,000
Ore processed (t)                        2,475,000   2,209,000     2,300,000
Head grade (g/t)                              2.62        3.04          3.25
Recovery (%)                                   87%         89%           88%
Total Gold recovered (oz)                  181,478     191,790       212,441
Cash operating cost per tonne                                               
 ($/t)                             (1)          63          65            80
Sustaining capital ($)                  10,319,000   8,000,000    18,523,000
All-in sustaining cost ($/oz)      (2)         968         843         1,004
                                                                            
Initial capital expenditure - Siou UG   14,496,000  37,175,000             -
                                                                           
Gold @ 1,200/oz                                                             
Revenues - Gold sales                  217,773,000 230,148,000   254,929,000
Total all-in sustaining expense                                            
 ($)                                   175,684,000 161,695,000   213,341,000
Operating cash-flow ($)                 42,089,000  68,453,000    41,588,000
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                              2021        2022          2023
----------------------------------------------------------------------------
SIOU UG                                                                     
Ore processed (t)                          704,000     704,000       705,000
Head grade (g/t)                              4.97        5.34          5.35
Recovery (%)                                   96%         96%           96%
Gold recovered (oz)                        107,953     116,055       116,450
Cash operating cost per tonne                                              
 ($/t)                             (1)          93          93            81
                                                                            
----------------------------------------------------------------------------
SIOU                                                                       
Waste (t)                                        -           -             -
Ore processed (t)                                -           -             -
Head grade (g/t)                                 -           -             -
Recovery (%)                                     -           -             -
Gold recovered (oz)                              -           -             -
Cash operating cost per tonne                                              
 ($/t)                             (1)           -           -             -
                                                                            
----------------------------------------------------------------------------
WONA                                                                       
Waste (t)                               19,822,000  16,602,000     8,050,000
Ore processed (t)                        1,683,000   1,683,000     1,698,000
Head grade (g/t)                               2.4         2.2           2.2
Recovery (%)                                   81%         81%           81%
Gold recovered (oz)                        105,305      96,553        97,418
Cash operating cost per tonne                                              
 ($/t)                             (1)          52          47            35
                                                                           
----------------------------------------------------------------------------
Other (Nyafe + Yama + Rompad + Fofina)                                      
Gold recovered (oz)                              -           -             -
                                                                           
----------------------------------------------------------------------------
MANA CONSOLIDATED                                                          
Waste (t)                               19,822,000  16,602,000     8,050,000
Ore processed (t)                        2,387,000   2,387,000     2,403,000
Head grade (g/t)                              3.16        3.13          3.12
Recovery (%)                                   88%         89%           89%
Total Gold recovered (oz)                  213,258     212,608       213,868
Cash operating cost per tonne                                               
 ($/t)                             (1)          64          61            49
Sustaining capital ($)                  13,016,000   7,000,000     3,000,000
All-in sustaining cost ($/oz)      (2)         825         766           614
                                                                           
Initial capital expenditure - Siou UG            -           -             -
                                                                           
Gold @ 1,200/oz                                                             
Revenues - Gold sales                  255,910,000 255,130,000   256,641,000
Total all-in sustaining expense                                            
 ($)                                   175,916,000 162,905,000   131,251,000
Operating cash-flow ($)                 79,994,000  92,225,000   125,390,000
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                              2024        2025     TOTAL LOM
----------------------------------------------------------------------------
SIOU UG                                                                     
Ore processed (t)                          204,000           -     3,036,000
Head grade (g/t)                              4.92           -          5.29
Recovery (%)                                   96%           -           96%
Gold recovered (oz)                         31,041           -       495,237
Cash operating cost per tonne                                              
 ($/t)                             (1)          79           -            90
                                                                           
----------------------------------------------------------------------------
SIOU                                                                       
Waste (t)                                        -           -    28,040,000
Ore processed (t)                                -           -     1,578,000
Head grade (g/t)                                 -           -          3.57
Recovery (%)                                     -           -           96%
Gold recovered (oz)                              -           -       173,945
Cash operating cost per tonne                                              
 ($/t)                             (1)           -           -            69
                                                                           
----------------------------------------------------------------------------
WONA                                                                       
Waste (t)                                3,203,000   6,286,000   129,844,000
Ore processed (t)                        1,337,000   1,606,000    12,341,000
Head grade (g/t)                              2.35        1.97          2.27
Recovery (%)                                   81%         81%           81%
Gold recovered (oz)                         81,786      82,371       731,764
Cash operating cost per tonne                                              
 ($/t)                             (1)          30          33            49
                                                                           
----------------------------------------------------------------------------
Other (Nyafe + Yama + Rompad + Fofina)                                      
Gold recovered (oz)                         52,378           -        72,073
                                                                           
----------------------------------------------------------------------------
MANA CONSOLIDATED                                                          
Waste (t)                               14,772,000   6,286,000   169,558,000
Ore processed (t)                        2,463,000   1,606,000    18,230,000
Head grade (g/t)                              2.78        1.97          2.92
Recovery (%)                                   75%         81%           86%
Total Gold recovered (oz)                  165,205      82,371     1,473,019
Cash operating cost per tonne                                               
 ($/t)                             (1)          41          33            58
Sustaining capital ($)                   3,000,000           -    62,858,000
All-in sustaining cost ($/oz)      (2)         685         702           809
                                                                           
Initial capital expenditure - Siou UG            -           -    51,671,000
                                                                           
Gold @ 1,200/oz                                                             
Revenues - Gold sales                  198,246,000  98,845,000 1,767,622,000
Total all-in sustaining expense                                            
 ($)                                   113,224,000  57,791,000 1,191,807,000
Operating cash-flow ($)                 85,022,000  41,054,000   575,815,000
----------------------------------------------------------------------------
(1)  Cash operating cost per tonne is a non-IFRS financial performance     
     measure with no standard definition under IFRS and is calculated using
     total operating costs related to tonnes processed (which includes     
     capitalized stripping activities) over tonnes processed.              
(2)  All-in sustaining cost is a non-IFRS financial performance measure with
     no standard definition under IFRS and represents the total mining     
     operation expenses (which includes capitalized stripping activities), 
     plus sustainable capital expenditures.                                
----------------------------------------------------------------------------
                                         2018 (pre                          
                                       production)         2018         2019
----------------------------------------------------------------------------
Boungou                                                                    
Waste (t)                               13,485,000    6,803,600   24,934,000
Ore processed (t)                          180,000      449,000    1,343,000
Head grade (g/t)                              1.85         4.87         5.58
Recovery (%)                                 90.1%        93.3%        93.7%
Total Gold recovered (oz)                    9,646       65,592      225,757
Cash operating cost per tonne                                              
 ($/t)(1)                                                    75           67
Sustaining capital ($)                                2,758,000    3,992,000
All-in sustaining cost ($/oz)(2)                            555          419
                                                                           
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                              2020         2021         2022
----------------------------------------------------------------------------
Boungou                                                                    
Waste (t)                               24,887,000   25,211,000   26,499,000
Ore processed (t)                        1,343,200    1,343,200    1,343,200
Head grade (g/t)                              5.60         4.99         4.61
Recovery (%)                                 93.7%        93.5%        93.5%
Total Gold recovered (oz)                  226,600      201,486      186,142
Cash operating cost per tonne                                              
 ($/t)(1)                                       66           76           81
Sustaining capital ($)                   3,892,000    4,000,000    4,000,000
All-in sustaining cost ($/oz)(2)               405          527          606
                                                                           
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                              2023         2024         2025
----------------------------------------------------------------------------
Boungou                                                                     
Waste (t)                               21,872,000   20,457,000      649,000
Ore processed (t)                        1,343,200    1,343,200    1,343,200
Head grade (g/t)                              4.46         3.00         2.10
Recovery (%)                                 93.5%        91.0%        91.0%
Total Gold recovered (oz)                  180,086      117,895       82,527
Cash operating cost per tonne                                               
 ($/t)(1)                                       81           79           52
Sustaining capital ($)                   4,000,000    4,000,000    4,000,000
All-in sustaining cost ($/oz)(2)               626          934          895
                                                                            
----------------------------------------------------------------------------

---------------------------------------------------------------
                                              2026    TOTAL LOM
---------------------------------------------------------------
Boungou                                                       
Waste (t)                                           164,797,600
Ore processed (t)                        1,163,800   11,195,000
Head grade (g/t)                              2.00         4.11
Recovery (%)                                 89.6%        92.9%
Total Gold recovered (oz)                   67,051    1,362,783
Cash operating cost per tonne                                 
 ($/t)(1)                                       38           66
Sustaining capital ($)                   4,000,000   34,642,000
All-in sustaining cost ($/oz)(2)               719          570
                                                              
---------------------------------------------------------------
(1)  Cash operating cost per tonne is a non-IFRS financial performance     
     measure with no standard definition under IFRS and is calculated using
     total operating costs related to tonnes processed (which includes     
     capitalized stripping activities) over tonnes processed.              
(2)  All-in sustaining cost is a non-IFRS financial performance measure with
     no standard definition under IFRS and represents the total mining     
     operation expenses (which includes capitalized stripping activities), 
     plus sustainable capital expenditures.




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SEMAFO Inc. via Globenewswire

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