Mineral Reserves and Resources

PROPERTY Mana1,2,4,5,6 Tapoa1,2,4,5,6
(Natougou Project)
Yactibo1,3,4,5,7
(Nabanga Project)
Total
MINERAL RESERVES
Proven
Tonnes 10,242,000 1,583,000 11,825,000
Grade (g/t Au) 3.09 6.46 3.54
Ounces 1,017,000 329,000 1,346,400
Probable
Tonnes 8,400,000 7,984,000 16,384,000
Grade (g/t Au) 2.63 3.69 3.15
Ounces 710,600 947,000 1,657,600
TOTAL MINERAL RESERVES
Tonnes 18,642,000 9,567,000 28,209,000
Grade (g/t Au) 2.88 4.15 3.31
Ounces 1,727,600 1,276,000 3,003,600
MINERAL RESOURCES (exclusive of reserves)
Measured
Tonnes 9,050,000 70,000 9,120,000
Grade (g/t Au) 1.47 1.90 1.48
Ounces 428,600 4,000 432,600
Indicated
Tonnes 35,981,000 2,602,000 38,583,000
Grade (g/t Au) 2.04 2.48 2.07
Ounces 2,360,600 207,000 2,567,600
TOTAL M&I
Tonnes 45,031,000 2,672,000 47,703,000
Grade (g/t Au) 1.93 2.46 1.96
Ounces 2,789,200 211,000 3,000,200
Inferred
Tonnes 13,022,000 6,298,000 1,840,000 21,160,000
Grade (g/t Au) 2.95 3.72 10.00 3.79
Ounces 1,233,600 754,000 590,000 2,577,600

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 (Natougou project) were estimated using a gold price of $1,100 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, 2016.
7 As of June 30, 2015.

Mana, Burkina Faso1,2,3

DEPOSITS DECEMBER 31, 2016
PROVEN RESERVES PROBABLE RESERVES TOTAL RESERVES
Tonnage Grade
(g/t Au)
Ounces4 Tonnage Grade
(g/t Au)
Ounces4 Tonnage Grade
(g/t Au)
Ounces4
WONA-KONA 6,060,000 2.35 457,900 6,308,000 2.24 454,700 12,368,000 2.30 912,00
NYAFÉ 263,000 5.85 49,400 4,000 5.02 700 267,000 5.84 50,100
FOFINA 199,000 3.38 21,600 12,000 2.69 1,000 211,000 3.33 22,600
SIOU 3,535,000 4.14 470,500 1,461,000 4.65 218,400 4,996,000 4.29 688,900
YAMA 615,000 1.81 35,800 615,000 1.81 35,800
ROMPAD 185,000 2.96 17,600 185,000 2.96 17,600
TOTAL MANA 10,242,000 3.09 1,017,000 8,400,000 2.63 710,600 18,642,000 2.88 1,727,600

 

DEPOSITS DECEMBER 31, 2016
MEASURED INDICATED TOTAL RESOURCES
Tonnage Grade
(g/t Au)
Ounces4 Tonnage Grade
(g/t Au)
Ounces4 Tonnage Grade
(g/t Au)
Ounces4
WONA-KONA 1,419,000 1.98 90,200 21,696,000 2.55 1,778,400 23,115,000 2.51 1,868,600
NYAFÉ 300,000 5.60 54,100 230,000 5.84 43,100 530,000 5.70 97,200
FOFINA 412,000 3.67 48,600 309,000 4.04 40,200 721,000 3.83 88,800
YAHO 5,738,000 0.91 168,500 11,636,000 0.88 330,800 17,374,000 0.89 499,300
FILON 67 26,000 2.72 2,300 9,000 3.59 1,000 35,000 2.93 3,300
FOBIRI 469,000 1.80 27,100 114,000 1.52 5,600 583,000 1.74 32,700
SIOU 686,000 1.71 37,800 1,879,000 2.65 160,100 2,565,000 2.40 197,900
YAMA - - - 108,000 0.41 1,400 108,000 0.40 1,400
TOTAL MANA 9,050,000 1.47 428,600 35,981,000 2.04 2,360,600 45,031,000 1.93 2,789,200

 

DEPOSITS DECEMBER 31, 2016
INFERRED
Tonnage Grade
(g/t Au)
Ounces4
WONA-KONA 3,463,000 2.96 329,600
NYAFÉ 151,000 5.86 28,400
FOFINA 88,000 3.73 10,500
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 5,834,000 3.70 693,200
YAMA 51,000 1.42 2,300
TOTAL MANA 13,022,000 2.95 1,233,600

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 $1,100 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.