Roxgold Inc. reported its preliminary production results for the first quarter of 2020 from the company's Yaramoko Mine Complex located in Burkina Faso (“Yaramoko”). The company produced 32,380 ounces of gold at an average grade of 8.7 grams per tonne in first quarter. The company reported quarterly plant throughput of 1,383 tonnes per day (“tpd”) for a total of 125,879 tonnes which exceeded increased nameplate capacity of 1,100 tpd by approximately 26%. The Yaramoko Mine Complex produced 32,380 ounces, based on processing 125,879 tonnes at an average grade of 8.7 grams per tonne and average mill recoveries of 97.9%. Mining activities continued to see strong ore production with a total of 134,472 tonnes of ore mined and 1,453 metres of development. Decline development in the 55 Zone has now reached the 4754 level, which is approximately 560 metres below surface, with increased ore drive development. Ore development at Bagassi South has commenced on the 5095 level, which is approximately 220 metres below surface, while the decline continues to advance as planned. Good progress on ore development has seen the Bagassi South mine largely developed, providing additional stoping access for the remainder of the year. The processing plant availability was 96.4% in the quarter and reported an average throughput rate of 1,383 tonnes per day exceeding nameplate capacity by approximately 26%. Average throughput was lower in the quarter due to a planned 39-hour mill shutdown for a complete mill relining. Gold ounces sold of 30,126 ounces were lower than production due to the timing of gold shipments at the end of the quarter.

The company reaffirmed annual gold production guidance of between 120,000 and 130,000 ounces subject to existing operating conditions being maintained.