Semafo Press Releases

SEMAFO’s Delineation Drilling at Mana’s Fofina Deposit Returns High Grades Including 10.05 g/t Au Across 6 Meters Zones Remain Open at Depth and Laterally

2012-02-02

Montreal, Quebec, February 2, 2012, 09:30 EST – SEMAFO Inc. (TSX, OMX: SMF) today provided an update of the ongoing delineation drilling on the Fofina deposit at its Mana property in Burkina Faso. Reverse-circulation (“RC”) delineation drilling was completed at 25-meter intervals over the Fofina and V1 to V7 zones in November 2011. The Corporation is in receipt of assay results for 60% of the drill holes to date. In addition, core drilling was completed on the Fofina deposit in order to initiate metallurgical test work, which will in turn serve to establish precise reserve estimation parameters. Results continue to confirm the interpretation established in December 2010 (reference: SEMAFO’s press release dated December 2, 2010) and further described in July 2011 (reference: SEMAFO’s press release dated July 18, 2011). All zones remain open at depth and along strike. As well, we are of the opinion that other en-echelon veins could develop, particularly towards the southeast.

Results to date continue to return both Wona-style and Nyafé-style grades and widths. The Fofina zone, which bounds the deposit to the northwest, straddles a contact between massive basaltic lavas and sediments. The change in rheology resulted in wide zones of mineralization as seen in holes MRC11-426 (3.03 g/t Au across 17 meters) and MRC11-749 (2.71 g/t Au across 27 meters). The V zones (V1 to V7) are generally narrower, but often characterized by much higher grades, as evidenced in holes MRC11-434 (6.16 g/t Au across 6 meters) MRC11-780 (10.05 g/t Au across 6 meters) and MRC11-802 (11.64 g/t Au across 4 meters). In addition, it appears that the V zones sometimes merge in an anastomosing system similar to that seen at Nyafé. The merging structures seem to produce wider zones over variable strike lengths. Such swelling is evidenced in holes MRC11-740 (3.52 g/t Au across 17 meters) and MRC11-803 (3.63 g/t Au across 15 meters). A more comprehensive list Fofina RC drilling highlights are available in Annex 1 of this press release.

“SEMAFO’s exploration team will have brought its first 2010 discovery to the stage of economic assessment in two years,” said Michel Crevier, SEMAFO’s Vice-President Exploration and Mine Geology. “Considering the size and complexity of the mineralization, our teams have demonstrated their ability to successfully and optimally fast-track a priority target, while continuing to generate new discoveries and targets.”

The objective of the 2011 program was to upgrade the near-surface part of resources to reserves status and eventually include the Fofina deposit in the Mana production schedule. To achieve this, a first phase of 50-meter spacing holes for the central part of the deposit was completed in May of 2011. A second phase of drilling was later carried out to complete the 50-meter spacing as well as 25-meter spacing over the zones’ cores. SEMAFO’s press release dated July 18, 2011 reported the first two-thirds of the results obtained during this first phase. The current release includes the remaining results of the first phase of drilling and part of the second phase, which was completed in November 2011.

The 2011 program at Fofina was established using 25-meter spacing for all known zones. To date, a total of 36,575 meters of RC drilling was completed in 274 holes, of which assays have been received for 60% of the program. In addition, nine core holes totalling 2,103 meters were completed, most of which were drilled in order to obtain a representative series of metallurgical test samples. The core drilling samples were sent to SGS Laboratories in South Africa in December 2011. These samples will provide the necessary metallurgical parameters to be considered in the reserves estimation and economic assessment of the deposit scheduled for mid- 2012.

In order to better understand the detailed geometry of the zones and to guide 2012 reserve estimates, a series of trenches were initiated early in January 2012 where near-surface swelling was encountered by RC drilling. Meanwhile, the remaining 40% of assay results should be forthcoming and will be combined with the trenching data to not only provide a strong basis for a reliable economic assessment, but also to guide further exploration drilling along the open extensions of the different zones.

The exploration programs were designed and managed locally by Dofinta Bondé and David Legault, Mana Mineral’s Exploration Chief Geologists, David Lalonde, Deputy Exploration Manager, and Richard Roy, P.Geo, Exploration Manager, and guided and supervised under the direction of Michel Crevier, P.Geo, MScA, Vice-President, Exploration and Mine Geology and SEMAFO’s Qualified Person who has reviewed this press release for accuracy and compliance with National Instrument 43-101.

For core drilling, all individual samples represent approximately one-meter in length of core, which was sawed 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 Laboratories in Ouagadougou, Burkina Faso. For RC drilling, all individual samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximate 2-kilogram subsample, which is sent for preparation and gold assaying at the same ALS Laboratories. Each RC sample is also fire-assayed for gold content on a 50-gram sub-sample at the ALS Laboratories. In addition to ALS Laboratories’ own QA/QC (Quality Assurance/Quality Control) program, an internal quality control and quality assurance program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Annexe 1

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 “could”, “will”, “generate”, “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 for other en-echelon veins to develop, the ability to bring our first 2010 discovery to the stage of economic assessment in two years, the ability to generate new discoveries and targets, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO’s 2011 First Quarter MD&A, 2011 Second Quarter MD&A and 2011 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.

For more information contact:
SEMAFO
Sofia St Laurent
Communications
Tel. local & overseas: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408
Email: sstlaurent@semafo.com
Website: www.semafo.com

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

NASDAQ OMX Stockholm (Europe) Changed Number of Shares and Votes in SEMAFO

2012-01-31

Montreal, Quebec, January 31, 2012, 10:30 EST – SEMAFO (TSX, OMX: SMF)

As a result of the exercise of options, the total number of shares and votes in the Corporation has changed during January as follows.

The number of shares has increased by 25,000 common shares and the total number of shares in the Corporation as of January 31, 2012 amounts to 273,028,685 common shares. The total number of votes in the Corporation has increased by 25,000 and amounts to in total 273,028,685. The Corporation’s share capital as of January 31, 2012 amounts to approximately SEK 12,764,091,023.

The above information has been made public in accordance with the Swedish Financial Instruments Trading Act.

For more information contact:
SEMAFO
Sofia St Laurent
Communications & Investor Relations
Tel local & overseas: +1 (514) 744 4408
Toll-Free: 1 (888) 744-4408
Email: sstlaurent@semafo.com

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

SEMAFO Provides 2012 Outlook Including Status Updates on Reserves and Resources, Capital Program and Ongoing Projects

2012-01-30

Montreal, Quebec, January 30, 2012, 09:30 EST – SEMAFO Inc. (TSX, OMX: SMF) today provided its 2012 outlook including production guidance of between 235,000 and 260,000 ounces of gold. SEMAFO’s flagship Mana property in Burkina Faso is expected to account for approximately 75% of the Corporation’s gold production, having just delivered its best quarterly production result ever. Cash operating cost guidance has been established at between $615 and $665 per ounce at Mana, and between $700 and $750 per ounce globally.

SEMAFO remains extremely profitable and expects to continue to benefit from considerable cash margins in 2012. Our cash reserves and significant cash generation capabilities allow us to fund our exploration, expansion and other value-creation activities internally. At Mana, these activities are directed at growing reserves and resources with a view to increasing SEMAFO’s overall gold production to an annualized capacity of up to 500,000 ounces. Accordingly, our 2012 initial exploration budget has been established at $45 million of which 80%, or $36 million, has been allocated to Mana.

Reserves and Resources

In 2011, SEMAFO invested $38.5 million in exploration at Mana. More than 300,000 meters of reverse-circulation, diamond and air core drilling, and approximately 135,000 meters of auger drilling were carried out during the year over priority targets including the Fofina-Fobiri, Yaho, Kona, Wona, Massala and Saoura areas.

Exploration results have consistently expanded Mana’s reserves and resources and continue to emphasize the overall geological potential of the property. Targets discovered within the past 18 months have been extended with drill results suggesting various styles of gold mineralization throughout the area. The strike length of the newly-discovered Yaho area has more than doubled to over 1.5 kilometers and continues to display persistent lateral continuity, while remaining open in all directions. The Mana underground feasibility study, completed in March 2011, included a 37% increase in mineral reserves compared to the June 2010 pre-feasibility study results which added an additional 314,000 ounces. Results continue to demonstrate opportunities to further augment underground reserves from those reported in the underground feasibility study, which excludes all exploration results received after December 31, 2010.

“Our exploration programs continue to expand Mana’s exceptional geological potential,” said Michel Crevier, SEMAFO’s Vice-President, Exploration and Mine Geology. “We remain confident that Mana has the potential to support our growth objective.”

Approximately one-third of drill samples collected as part of Mana’s 2011 exploration program remain pending at the independent assays laboratories in Ouagadougou, Burkina Faso. Outstanding assay results include important infill, step-out and exploratory drilling samples. Consequently, the updating of reserves and resources calculations must be deferred until June 2012 in order to include all results up to December 31, 2011.

In order to expedite future exploration assay processing, in June 2011 SEMAFO announced a decision to invest $500,000 to build an exploration laboratory to be located on the Mana property. The laboratory, which will be operational the first quarter of 2012, will have a significant impact on improving the turnaround time for drilling assay results.

Mana Updates
SEMAFO continues to focus on evolving and expanding its core asset, the Mana Mine. Three significant projects were initiated in 2011 as part of the Corporation’s strategy to build long-term sustainable value.

Plant Expansion – Phase IV
Announced at the beginning of 2011, Phase IV of the plant expansion is scheduled for commissioning in the second quarter of 2012. Once completed, it is expected to increase Mana’s current plant capacity to attain up to 7,200 tonnes per day (“tpd”) in bedrock and up to 8,000 tpd in blended ore.

New Production Facility
This new facility was put forward in consideration of the positive drill results received from the Fofina, Fobiri and Yaho zones. Detailed evaluations of the new facility are pending the receipt of outstanding 2011 drill results in that they will impact the facility’s optimal location and size, both elements of which are key to maximizing efficiencies. Completion of the new facility is projected for the second half of 2014. Once operational, the facility will play an important role in substantially expediting the overall processing of ore from the southern region in the most economical manner while increasing overall processing capacity to 14,000 tpd. This run rate represents the potential for an additional 120,000 ounces of annual gold production. As part of this project, the Corporation has commenced procurement of additional mining equipment and construction of a pipeline to ensure adequate water supply at all times. The pipeline is scheduled to be commissioned in June, 2012.

Wona Deep Development
SEMAFO’s continued collaboration with Dumas Contracting Ltd.’s (“Dumas”) highly experienced underground development team has been fundamental to ensuring that the Mana underground project continues to progress according to the Corporation’s expectations. Construction of all surface infrastructures and services to support underground operations is on track for completion by the end of the first quarter of 2012. Dumas’ expertise and innovation in the area of underground mining continue to contribute considerably to the effective development of this project.

Dumas, whose client list includes some of the world’s largest and most respected mining companies, is a leading full-service underground mining contractor with over 1,200 employees providing services worldwide. Dumas offers a full range of underground hard rock mining contracting services including mine construction, mine development, production mining, mine services and engineering, and maintains the highest quality equipment fleet to meet their clients’ needs while maintaining an unwavering commitment to an industry-leading health and safety program and to the ultimate goal of “Zero Harm.”

Capital Expenditures
Focusing on building sustainable value, the Corporation expects total capital expenditures for 2012 to amount to $195 million, which is consistent with previously disclosed information, including the following major investments:
   • Mana plant expansion - Phase IV: $10 million
   • Mana new production facility: $52 million
   • Mana - Wona Deep development: $58 million
   • Stripping costs: $37 million

“Our professional teams, those responsible for efficient and effective day-to-day operating activities and those in development, who design, procure, build and expand facilities represent our core strength,” said Benoit Desormeaux, SEMAFO’s Executive Vice-President and Chief Operating Officer. “These skills, which have been instrumental in delivering three mines and multiple plant expansions on time and on budget, will be used to support Mana’s production growth to an annualized run rate of approximately 300,000 ounces in 2014. Company-wide, our dedicated and focused teams are aligned with SEMAFO’s objective of achieving an overall annualized production capacity of up to 500,000 ounces of gold.”

A number of assumptions were made in preparing the 2012 guidance, including:
   • Price of gold of $1,650 per ounce
   • $1.30 per liter or $100 per barrel of oil
   • Foreign exchange rates of:
         o $0.98 US dollars to the Canadian dollar
         o $1.30 US dollars to the Euro

All amounts are in US dollars unless otherwise indicated. Cash operating cost is a measure that is not defined under International Financial Reporting Standards (IFRS). This data may not be comparable to data presented by other gold producers.

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 “outlook”, “guidance”, “expected”, “increasing”, “augment”, “potential”, “objective”, “will”, “projected”, “scheduled”, “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 meet our guidance of between 235,000 to 260,000 ounces of gold at a cash operating cost between $615 and $665 per ounce at Mana, and between $700 and $750 per ounce globally, Mana’s ability to account for 75% of our gold production, the ability to increase reserves and resources at Mana, the ability to increase overall Mana plant capacity to 14,000 tpd, the ability to commission the water pipeline in the second quarter of 2012, the ability to reach our overall annualized production capacity objective of up to 500,000 ounces of gold, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO’s 2011 First Quarter MD&A, 2011 Second Quarter MD&A and 2011 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.

SEMAFO Meets 2011 Annual Guidance with Production of 250,100 Ounces of Gold

2012-01-11

Montreal, Quebec, January 11, 2012, 09:30 EST – SEMAFO Inc. (TSX, OMX: SMF) announced today that the Corporation has met its annual guidance objectives with production totalling 250,100 ounces of gold for the year ended December 31, 2011, despite the setbacks at the Kiniero Mine in the fourth quarter. Mana spearheaded operations with an annual production of 187,800 ounces of gold, representing an increase of 4.5% year over year for the property. Significant efforts by the Samira Hill operations team led the way to a strong fourth quarter and best performance of the year for the mine.

“Our average realized gold price was $1,694 per ounce for the fourth quarter and $1,586 per ounce for the year,” said Benoit La Salle, SEMAFO’s President and Chief Executive Officer. “Gold sales for the year totalled 249,600 ounces, resulting in the Corporation’s best ever annual revenues of $396 million.”

“Operationally we continue to demonstrate our ability to deliver on our promises by repeatedly meeting production guidance,” said Benoit Desormeaux, SEMAFO’s Executive Vice-President and Chief Operating Officer. “It is a direct result of our efficient and effective operations teams, who continue to demonstrate their ability to deliver solid results, while maintaining the highest operational standards. This, combined with our development group, who design, procure, build and expand facilities on time and on budget are the cornerstone of our corporation’s ongoing success.”

Cash operating cost is anticipated to be in line with the Corporation’s guidance of between $595 and $645 per ounce.

Production numbers are preliminary and are subject to final adjustment. All amounts are in US dollars unless otherwise indicated.

SEMAFO will release its fourth quarter and 2011 year-end financial results on or about March 14, 2012. The Corporation will also host a conference call to discuss the results, the details of which will be announced at a later date.

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 “promises”, “ongoing”, “anticipated”, “guidance”, “preliminary”, “adjustment”, “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 continue meeting production guidance, the ability to continue to build and expand facilities on time and on budget, the ability of our cash operating cost to be in line with our guidance of between $595 and $645 per ounce, the final adjustment to our production numbers, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO’s 2011 First Quarter MD&A, 2011 Second Quarter MD&A and 2011 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.

NASDAQ OMX Stockholm (Europe) Changed Number of Shares and Votes in SEMAFO

2011-12-30

Montreal, Quebec, December 30, 2011, 10:30 EST – SEMAFO (TSX, OMX: SMF)

As a result of the exercise of options, the total number of shares and votes in the Corporation has changed during December as follows.

The number of shares has increased by 12,500 common shares and the total number of shares in the Corporation as of December 30, 2011 amounts to 273,003,685 common shares. The total number of votes in the company has increased by 12,500 and amounts to in total 273,003,685. The Corporation’s share capital as of December 30, 2011 amounts to approximately SEK 12,457,158,146.

The above information has been made public in accordance with the Swedish Financial Instruments Trading Act.

For more information contact:
SEMAFO
Sofia St Laurent
Communications & Investor Relations
Tel local & overseas: +1 (514) 744 4408
Toll-Free: 1 (888) 744-4408
Email: sstlaurent@semafo.com

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

NASDAQ OMX Stockholm (Europe) Changed Number of Shares and/or Votes in SEMAFO

2011-11-30

Montreal, Quebec, November 30, 2011, 10:30 EST – SEMAFO (TSX, OMX: SMF)

As a result of the exercise of options, the total number of shares and votes in the Corporation has changed during November as follows.

The number of shares has increased by 150,000 common shares and the total number of shares in the Corporation as of November 30, 2011 amounts to 272,991,185 common shares. The total number of votes in the company has increased by 150,000 and amounts to in total 272,991,185. The Corporation’s share capital as of November 30, 2011 amounts to approximately SEK 14,291,088,534.

The above information has been made public in accordance with the Swedish Financial Instruments Trading Act.

For more information contact:
SEMAFO
Sofia St Laurent
Communications & Investor Relations
Tel local & overseas: +1 (514) 744 4408
Toll-Free: 1 (888) 744-4408
Email: sstlaurent@semafo.com

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

SEMAFO’s Yaho Zone Drilling Confirms Wide Gold Mineralization Infill Drilling Returns Values of Up to 1.31 g/t Au Across 66 Meters

2011-11-15

Montreal, Quebec, November 15, 2011, 09:30 EST – SEMAFO Inc. (TSX, OMX: SMF) today announced that follow-up infill reverse-circulation (“RC”) drilling over the Yaho Zone continues to show multiple wide zones of gold mineralization, with persistent lateral continuity from section to section. The Yaho Zone remains open in all directions, beyond the current 1.5 kilometers of known strike length. Results from the infill drilling on the north half of the known strike length has returned values of up to 1.31 g/t Au across 66 meters, and 2.55 g/t Au across 21 meters. We are also in receipt of the core drilling results that were referenced as pending in SEMAFO’s press release dated June 28, 2011. Highlights of the RC (MRC) and core (WDC) drilling results are listed in the table below and illustrated on figure 1.

The recent drilling (32 RC holes totalling 3,465 meters) was carried out over ten sections along the north part of the known mineralization at approximately 100-meter spacing. To date, a total of 99 RC holes (13,523 meters) and three core holes (951 meters) have been completed along a strike length of 1.5 kilometers.

This phase of RC drilling provides a better indication on the lateral and at-depth continuity of the Yaho mineralization corridor. Current drilling on the north half of the zone at 100-meter spacing continues to show strong pervasive sericitization and silicification with mineralization occurring as a series of stacked zones, varying in widths of up to 66 meters. Mineralization observed in fresh rock includes disseminated pyrite and arsenopyrite in varying amounts ranging up to 10% locally. Based on the holes completed to date, the level of oxidation of the mineralization reaches up to 50 meters vertically below surface. In a general sense, the host unit is almost entirely gold-bearing although higher grades of economic significance form shallow dipping stacked lenses.

“Combined with the Fofina and Fobiri mineralizations, the Yaho Zone contributes to create a potential cluster of high-tonnage gold sources to the south of Nyafé,” stated Michel Crevier, SEMAFO’s Vice-President Exploration and Mine Geology. “In addition to exploring Yaho’s lateral extensions, our objective is to complete the required drilling density in order to eventually include the Yaho mineralization in our mine plan.”

The next phase of planned drilling at Yaho will include 100-meter spacing sections along the southern half of the known zone, as well as 200-meter spaced lines south of the southernmost section where RC drilling results returned values of up to 1.56 g/t Au across 19 meters (reference: SEMAFO’s press release dated June 28, 2011).

For core drilling, all individual samples represent approximately one-meter in length of core, which was sawed 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. For RC and AC drilling, all individual samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximate 2-kilogram subsample, which is sent for preparation and gold assaying at the same ALS Chemex laboratories. Each sample (core, RC, and AC) is also fire-assayed for gold content on a 50-gram sub-sample at the ALS Chemex laboratories. In addition to ALS Chemex’s own QA/QC (Quality Assurance/Quality Control) program, an internal quality control and quality assurance program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Figure 1 (Click to enlarge)

SEMAFO Reports Record Third Quarter Revenues, Operating Income and Margin Operating Income of $40.8 Million - Margin Up 32%

2011-11-09

Montreal, Quebec, November 9, 2011, 09:30 EST – SEMAFO (TSX, OMX: SMF) today reported its third quarter financial and operating results for the three-month period ended September 30, 2011. All amounts are in US dollars unless otherwise stated.

Third Quarter 2011 Highlights
• Gold production of 61,500 ounces
• Record gold sales of $102.3 million, a 19% increase year over year
• Record operating income of $40.8 million, an increase of 7% year over year
• Net income of $31.3 million, a decrease of 3% year over year
• Net income attributable to equity shareholders of the Corporation of $29.7 million or $0.11 per share compared to $32.1 million or $0.12 per share for the same period last year
• Cash flow from operating activities of $43.1 million or $0.16 per share, an increase of 3% year over year
• Debt free after the full repayment of our long-term debt
• Announced expansion project plan to increase Mana’s processing capacity to 14,000 tonnes per day
• Agreement with Burkina Faso’s National Electricity Company Sonabel to build a power line connecting the Mana Mine to the National Power Grid
• Listing of SEMAFO’s common shares on NASDAQ OMX Stockholm on October 20, 2011
• Declaration of inaugural dividend of CA $0.02 on November 8, 2011.

A Word from the CEO
The constant solid performance of our Mana Mine in Burkina Faso, bolstered by a strong gold price, has allowed SEMAFO to deliver all-time highs in gold revenues, operating income, and margins.

Our 2011 third quarter revenues increased by 19% over the same period last year, to attain $102.3 million. Operating income was $40.8 million for the quarter, an increase of 7% year over year and 15% for the first nine months of the year compared to the same period in 2010. Our net income of $31.3 million for the quarter brings our year-to-date total to $84.6 million, a 13% increase over the first nine-month period of 2010. During the quarter, cash flow from operating activities amounted to $43.1 million or $0.16 per share.

Part of our operations strategy is to maximize cash flow. This was evidenced by the fact that, despite rapidly rising energy costs industry wide; we realized a record average total cash margin of $984 per ounce sold for the quarter. Our cash operating cost per tonne increased by only 9% for the quarter compared to the same period last year, demonstrating effective cost management. The nine-month total cash margin was $864 per ounce sold compared to $700 for the same period in 2010, a 23% increase.

On the operations side, as our Mana Mine continues to demonstrate its growth potential, we announced another phase of plant expansion aimed at increasing capacity to 14,000 tonnes per day and representing as much as 120,000 additional gold ounces annually. This can potentially bring Mana’s total production to more than 300,000 ounces of gold per annum by 2014. Our decision to further expand the plant is supported by the positive drill results from the Fofina, Fobiri and Yaho zones and currently foresees the construction of a satellite crushing and milling facility, which will prepare the ore for final processing at the main plant.

SEMAFO’s geology team reported consistent values and widths confirming the high-grade mineralization in the Fofina area, with some similarities to the gold-producing Nyafé zone. Also during the quarter initial drill results from the Massala-Saoura zone, located at the northern tip of our property, provided encouraging results. The team expanded the Wona SW deep zone with drill results including 4.07 g/t Au over 43 meters, while parallel zones showed interesting values and thickness that suggest important swelling, which will be taken in consideration in the underground development. Very recently, Kona open pit area infill drilling confirmed the distribution of the mineralization and outlined higher-grade zones.

We continue to believe that our 115-kilometer long Mana property is one of the best gold projects in West Africa, with the potential to become a mining district. Our systematic approach has led us to discover the very important Fofina and Fobiri zones some 18 months ago and the new Yaho zone, which is located in the same general area, early this year. Our drilling campaign continues to provide noteworthy results, identifying potential reserves and resources development opportunities and project expansion possibilities. Taking into consideration our growth strategy and production objectives, during the third quarter we allocated an additional $8.5 million to Mana’s exploration budget, bringing the 2011 total budget for the property to $38.5 million.

Consolidated Results and Mining Operations

Management remains confident that the Corporation will attain its 2011 production guidance of between 238,000 and 263,000 ounces of gold at a cash operating cost of between $595 and $645 per ounce.

SEMAFO will host a conference call to discuss the results, as well as to provide an update on operations.

Date: Thursday, November 10, 2011
Time: 10:00 AM (EST)
Tel. local & overseas: 1 416 981-9000
Tel. North America: 1 800 917-9975

The conference call will feature Benoit La Salle, President and Chief Executive Officer, Benoit Desormeaux, Executive Vice-President and Chief Operating Officer, Martin Milette, Chief Financial Officer, Michel Crevier, SEMAFO’s Vice-President Exploration and Mine Geology and Qualified Person, and Patrick Moryoussef, Vice-President Mining Operations.

The conference call will be archived for replay until November 30, 2011. To access the archived conference call, please dial 1 800 558-5253 and enter pass code 21541486 followed by the number sign (#).

A live audio webcast of the conference can be accessed through SEMAFO’s website at www.semafo.com. The webcast will be available for replay for a period of 60 days.

SEMAFO’s Consolidated Financial Statements and Management's Discussion and Analysis and other relevant financial materials are available in the Investor Relations section of the Corporation’s website at www.semafo.com. These and other corporate reports are also available on the website maintained by the Canadian Securities Administrators at www.sedar.com.

About SEMAFO
SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Company 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 “strategy”, “maximize”, “continues”, “potential”, “expansion”, “aimed at”, “increasing”, “by 2014”, “will”, “objective”, “believe”, “remains”, “confident”, “attain”, “committed”, “evolve”, “become”, “focus”, “pursuing”, “growth” 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 of our operations strategy to maximize cash flow, the ability of our Mana Mine to grow, the ability of another phase of plant expansion to increase capacity to 14,000 tonnes per day representing as much as 120,000 additional ounces annually, the ability to bring Mana’s total production to more than 300,000 ounces of gold per annum by 2014, the ability of the Mana property to become a mining district, the ability to attain our 2011 production guidance of between 238,000 and 263,000 ounces of gold at a cash operating cost of between $595 and $645 per ounce, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO’s 2011 First Quarter MD&A, 2011 Second Quarter MD&A and 2011 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.

For more information contact:
SEMAFO
Sofia St Laurent
Communications
Tel: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408
Email: sstlaurent@semafo.com
Website: www.semafo.com

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

SEMAFO Declares Inaugural Dividend

2011-11-08

Montreal, Quebec, November 8, 2011, 12:00 EST – SEMAFO (TSX, OMX: SMF) today announced that the Corporation’s Board of Directors has approved an inaugural cash dividend of $0.02 per common share, payable on January 16, 2012 to shareholders of record at the close of business on December 31, 2011.

“With our continued solid performance and significant cash flows, SEMAFO is well-positioned to fund its operations and has the economic capacity to internally finance value-creation activities,” said Benoit La Salle, President and Chief Executive Officer. “The Board of Directors is of the opinion that this is the right time to provide a dividend return to our shareholders. The payment of this inaugural dividend is evidence of SEMAFO’s commitment to maximize shareholder value.”

The amount of future dividend payments will be subject to evaluation and approval by SEMAFO’s Board of Directors semi-annually, based on the Corporation’s financial condition, capital requirements, growth plans and gold price.

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

For more information contact:
SEMAFO
Sofia St Laurent
Communications
Tel local & overseas: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408
Email: sstlaurent@semafo.com
Website: www.semafo.com

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

SEMAFO: Mana Underground Development Progress Report

2011-11-07

Montreal, Quebec, November 7, 2011, 09:25 EST – SEMAFO (TSX, OMX: SMF) today provided an update on construction and development progress of the underground project at the Mana property in Burkina Faso.

The Corporation has signed a letter of intent (“LOI”) with mining contractor Dumas Contracting Ltd (“Dumas”), and an in-house underground technical team has been designated to the project. The LOI outlines the scope of work and responsibilities to be carried out by Dumas in the interim period leading to the execution of a definitive agreement, expected to be signed in the coming months.

Underground development activities completed to date include:
• Elaboration of long hole drilling plans, with various stope-type combinations, to estimate quantities and drilling times in order to commence block sequencing and mine planning
• Detailed monthly planning of the first two years of mine development
• Test hole drilling at the portal and ventilation raise to certify rock elevation and quality
• Procurement of more than $10 million of general equipment and mining materials including: gensets, compressors, surface ventilators, underground support material, ventilation piping, mine rescue equipment, dewatering pumps and others

Detailed engineering has been finalized for the elaboration of plans for the mine dry, mechanical shop, warehouse and administrative office. A camp expansion of 40 units, to accommodate the underground teams, has been completed and construction of all other on-surface infrastructures is expected to be finalized by the end of the first quarter of 2012.

“We are very pleased with the progress made on the Mana underground project to date,” said Patrick Moryoussef, SEMAFO’s Vice-President, Mining Operations. “The combination of our exploration and gold mining expertise with Dumas’ mastery of hard rock mining and underground mine development makes for a formidable team. The teams’ collaborative efforts to optimize the development of the mine and the general approach to the ore bodies contribute significantly to our ability to remain on track in the overall progression of the project.”

SEMAFO has secured additional new mining equipment from Dumas under the provisions of the LOI. Equipment for ventilation shaft development is expected onsite for commencement of surface work in January, while all development and production equipment is scheduled to arrive on site in the second quarter of 2012. Dumas, in collaboration with SEMAFO, has commenced the recruitment process for national employees.

As was recently announced in the press release dated October 18, 2011, surface drilling continues on in the Wona SW zone. Core drilling results have added underground depth potential revealing wide and high-grade mineralization. These results continue to demonstrate opportunities to further increase underground reserves from those reported in the underground feasibility study.

All amounts are in US dollars unless otherwise stated.

About Dumas Contracting Ltd.
Dumas is a leading full-service underground mining contractor with over 1,200 employees providing services for clients all over the world. Dumas offers the full range of underground hard rock mining contracting services including mine construction, mine development, production mining, mine services and engineering, and maintains the highest quality equipment fleet to meet clients’ needs. Dumas has an unwavering commitment to an industry-leading health and safety program and to the ultimate goal of “Zero Harm.” The company’s client list includes some of the world’s largest and most respected mining companies.

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 “to be”, “expected”, “remain”, “additional”, “commencement”, “scheduled”, “continues”, “further”, “increase”, “committed”, “evolve”, “become”, “focus”, “pursuing”, “growth” 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 finalize all other on-surface infrastructures by the end of the first quarter of 2012, the ability to remain on track in the overall progression of the project, the ability for the equipment for ventilation shaft development to arrive onsite for commencement of surface work in January, the ability of all development and production equipment to arrive on site in the second quarter of 2012, the ability of our recently announced surface drilling results in the press release dated October 18, 2011 to demonstrate opportunities to further increase underground reserves from those reported in the underground feasibility study, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO’s 2011 First Quarter MD&A and 2011 Second 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.

SEMAFO Recognized as One of Canada’s Most Admired Corporate Cultures

2011-11-01

Montreal, Quebec, November 1, 2011, 09:30 ET – SEMAFO (TSX, OMX: SMF), today is proud to announce that the Corporation has been named as one of Canada’s 10 Most Admired Corporate Cultures^TM for 2011 in the Quebec & Atlantic Canada region. The selection process is based on criteria such as: vision, leadership, reward and recognition, corporate performance and corporate social responsibility.

“We are tremendously honoured to be recognized for having one of the best corporate cultures in the country,” said Benoit La Salle, SEMAFO President and CEO. “This award is a true testament to the dedication and outstanding contributions of each and every person at SEMAFO to the overall success of the Corporation.”

“Our employees have committed to our corporate culture by embracing, as their own, SEMAFO’s values of respect, integrity, excellence, know-how and team work. Our culture is further enhanced through SEMAFO’s humanitarian mission of continuous improvement with a relentless determination to effect sustainable change and is a reason we are often regarded as one of the most respected corporate citizens in our host countries.”

This annual program was created in 2005 by Waterstone Human Capital and recognizes the country’s top organizations with cultures that both enhance performance as well as sustain competitive advantages. A total of 440 eligible organizations were nominated for the Canada’s 10 Most Admired Corporate Cultures^TM program. National winners will be voted upon by the program’s Board of Governors in mid-November from among the regional winners.

About Canada’s 10 Most Admired Corporate Cultures^TM: Canada’s 10 Most Admired Corporate Cultures is founded and presented by Waterstone Human Capital, a leading retained executive search firm specializing in recruiting for fit and in cultural assessment. This national program, now in its seventh year, annually recognizes best-in-class Canadian organizations for having a culture that has helped them enhance performance and sustain a competitive advantage. Canada’s 10 is Waterstone’s R&D Lab: through the annual Canadian Corporate Culture Study^TM, the hundreds of program submissions, the nominee interviews, as well as through the Corporate Culture Summit, regional events, and the national gala, Waterstone is at the forefront of best practices in culture and fit – practices Waterstone shares with it clients, to help them recruit for fit, conduct cultural assessments and build great organizations. www.canadasmostadmired.com

For more information contact:
SEMAFO
Sofia St Laurent
Communications
Tel: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408
Email: sstlaurent@semafo.com
Website: www.semafo.com

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

SEMAFO: Infill Drilling Confirms High-Grade Mineralization at Mana’s Kona Zone Results Include 6.18 g/t Au over 18 Meters

2011-10-27

Montreal, Quebec, October 27, 2011, 09:25 EST – SEMAFO Inc. (TSX, OMX: SMF) today announced results from the reverse circulation (“RC”) infill drilling over the Kona open pit area, which confirms the distribution of the mineralization. Results also outline zones of higher grade mineralization as revealed by holes MRC11-367, which returned 6.18 g/t Au (6.61 g/t Au uncut) over 18 meters, MRC11-360 with 3.46 g/t Au over 29 meters and hole MRC11-373 returning 4.0 g/t Au (4.65 g/t Au uncut) over 14 meters.

Kona RC drill result highlights are listed in the table below and illustrated on figure 1.

Results from the RC infill drilling on the Kona open-pit area are concordant with the current magnitude of reserves and resources, with a potential slight gain in the northern area.

The exploration programs were designed and managed locally by Dofinta Bondé and David Legault, Mana Mineral’s Exploration Chief Geologists, David Lalonde, Deputy Exploration Manager, and Richard Roy P Geo, Exploration Manager, and guided and supervised under the direction of Michel Crevier, P.Geo MScA, Vice-President, Exploration and Mine Geology and SEMAFO’s Qualified Person who has reviewed this press release for accuracy and compliance with National Instrument 43-101.

All individual RC samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximately 2-kilogram sub-sample, which is sent for preparation and gold assaying at the ALS Chemex laboratories in Ouagadougou, Burkina Faso. Each sample is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Chemex laboratories. In addition to ALS Chemex’s own QA/QC (Quality Assurance/Quality Control) program, an internal quality control and quality assurance program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Figure 1 (Click to enlarge)

SEMAFO Begins Trading on NASDAQ OMX Stockholm

2011-10-20

Montreal, Quebec, October 20, 2011, 08:50 CEST – SEMAFO Inc. (TSX, OMX: SMF) today announced the commencement of trading of its common shares through a secondary listing on the NASDAQ OMX Stockholm exchange in Sweden. Shares on the secondary listing will be traded and settled in Swedish kronor (SEK) under the ticker symbol “SMF”.

Commenting on the milestone, Benoit La Salle, SEMAFO’s President and Chief Executive Officer said, “When SEMAFO was founded in 1995, it was a grassroots exploration company with the vision to build an ethical, reputable world-class gold-producing company. Today, 16 years later, the Corporation is a three-mine gold producer with a solid platform for sustainable growth.”

“SEMAFO’s listing on the NASDAQ OMX Stockholm Large Cap today serves to reinforce our value-creation strategy. By doing so, we are providing European investors with the opportunity to take advantage of SEMAFO’s unique savoir-faire, consistently solid operating results, and the exceptional opportunity to participate in the discovery of a new mining district.”

Erik Penser Bankaktiebolag is the financial adviser and liquidity provider and Mannheimer Swartling is the Swedish legal adviser for the listing process.

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 “vision”, “sustainable”, “growth”, “reinforce”, “value-creation”, “strategy”, “opportunity”, “consistently”, “discovery”, “committed”, “evolve”, “become”, “focus”, “maximize”, “pursuing” 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 execute on our vision, the ability of our platform to deliver sustainable growth, the ability to execute on our value-creation strategy, the ability to discover a new mining district, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO’s 2011 First Quarter MD&A and 2011 Second 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.

SEMAFO Drills 4.07 g/t Au Over 43 Meters to Further Expand Wona SW Deep Zone at Mana Parallel Zone Returns 4.43 g/t Au over 25 Meters

2011-10-18

Montreal, Quebec, October 18, 2011 – SEMAFO (TSX: SMF) today reported drill results from its ongoing exploration and in-fill program on the Wona SW zone, located immediately southwest and parallel to the Wona Deep zone. Core drilling results have added underground depth potential revealing wide and high-grade mineralization. Results with values including WDC319, which returned 4.07 g/t Au (4.33 g/t Au uncut) over 43 meters, extend the mineralization at-depth and suggest a mineralized plunge similar to the central portion of the Wona Main zone.

Results from Wona’s Parallel zones show interesting values and thickness that suggest important swelling as confirmed by hole WDC322, which returned 4.43 g/t Au (8.63 g/t Au uncut) over 25 meters (Figure 1).

Following SEMAFO’s press release dated of May 12, 2011, a total of 34,659 meters of core drilling in 95 holes (up to WDC421) have been completed on the Wona and Wona SW zones with the available results to date presented below. All assays remain pending for holes WDC328 to WDC421.

Core drilling completed includes infill drilling of the Wona and Wona SW as well as extensions. The results confirmed the high-grade potential of the Wona SW zone with values of up to 4.64 g/t Au (4.94 g/t Au uncut) across 18.5 meters, as well as identified a wide and higher-grade zone at greater depths with hole WDC319 returning 4.07 g/t Au across 43 meters. Hole WDC319 belongs to the same trend as previously announced holes WDC284 and WDC287 (reference SEMAFO’s press release dated May 12, 2011), which returned 2.27 g/t Au over 51 meters and 2.24 g/t Au over 29 meters respectively. This suggests the presence of a second wide ore shoot plunging slightly north, similar to the Wona main ore shoot, and could hold a large area of wide gold mineralization. Further drilling is scheduled to test this area and its extensions.

Parallel Zones
The parallel zones, located 10 to 30 meters east of the Wona structure, continue to be increasingly significant towards the southwest showing areas of swelling with above-average grades as confirmed by hole WDC322 which returned 4.43 g/t Au (8.63 g/t Au uncut) across 25 meters and hole WDC297 with 3.12 g/t Au (7.03 g/t Au uncut) over 13 meters.

The exploration programs were designed and managed locally by Dofinta Bondé and David Legault, Mana Mineral’s Exploration Chief Geologists, David Lalonde, Deputy Exploration Manager, and Richard Roy P Geo, Exploration Manager, and guided and supervised under the direction of Michel Crevier, P.Geo MScA, Vice-President, Exploration and Mine Geology and SEMAFO’s Qualified Person who has reviewed this press release for accuracy and compliance with National Instrument 43-101.

All individual core samples represent approximately one-meter in length of core, which was sawed 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. Each sample is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Chemex laboratories. In addition to ALS Chemex’s own QA/QC (Quality Assurance/Quality Control) program, an internal quality control and quality assurance program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Figure 1 (click to enlarge)

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 “further”, “expand”, “ongoing”, “suggests”, “remain”, “pending”, “could”, “scheduled”, “continue” 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 of WDC319 to suggest a mineralized plunge similar to the central portion of the Wona Main zone, the ability of the trend to which WDC319 belongs to suggest the presence of a second wide ore shoot plunging slightly north and to hold a large area of wide gold mineralization, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO’s 2011 First Quarter MD&A and 2011 Second 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.

For more information contact:
SEMAFO
Sofia St Laurent
Communications
Tel: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408
Email: sstlaurent@semafo.com

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

NASDAQ OMX Stockholm (Europe) SEMAFO to be listed on NASDAQ OMX Stockholm

2011-10-13

Montreal, Quebec, October 13, 2011 - SEMAFO (TSX: SMF) announced today that NASDAQ OMX Stockholm has approved its application for a secondary listing on NASDAQ OMX Stockholm, conditional upon, among other things, SEMAFO meeting the requirements for liquidity in the share. It has today been confirmed that the number of SEMAFO shares to be registered with Euroclear Sweden will be sufficient in order to meet such liquidity requirements. SEMAFO’s common shares will commence trading on the Large Cap list on NASDAQ OMX Stockholm on Thursday, October 20 2011, under the trading symbol SMF.

The Corporation’s common shares will continue to be traded on the Toronto Stock Exchange under the symbol SMF.

Erik Penser Bankaktiebolag is the financial adviser and liquidity provider and Mannheimer Swartling is the Swedish legal adviser for the listing process.

For more information contact:
SEMAFO
Sofia St Laurent
Communications
Tel: +1 (514) 744-4408
Toll-Free: 1 (888) 744-4408
Email: sstlaurent@semafo.com

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

SEMAFO Announces Third Quarter 2011 Production of 61,500 Ounces of Gold Gold Sales for the Quarter Total $102.3 Million

2011-10-06

Montreal, Quebec, October 6, 2011 – SEMAFO (TSX: SMF) today announced production of 61,500 ounces of gold in the third quarter 2011, including 45,100 ounces at its Mana mine in Burkina Faso.

Gold sales for the quarter totalled 59,600 ounces at an average realized gold price of $1,717 per ounce, generating the Corporation's best ever revenues of $102.3 million. This compares to revenues of $86.2 million for the corresponding period in 2010, representing a 19% increase year over year. SEMAFO’s average realized gold price per ounce for the three-month period ended September 30, 2011 increased by $198 per ounce over the second quarter 2011 and $476 per ounce year over year.

“Mana continued its solid performance in the third quarter, contributing 45,100 ounces of gold to our production total,” said Benoit Desormeaux, Executive Vice-President and Chief Operating Officer. “Our efforts to grow production and achieve cost efficiencies are ongoing as evidenced in our recent announcements regarding our plan to increase plant capacity from 8,000 tonnes per day to 14,000 tonnes per day as well as the recent signature of an agreement to connect the Mana Mine to the national power grid.”

Management remains confident that the Corporation will attain its 2011 production guidance.

The Corporation's third quarter results for the three-month period ended September 30, 2011 will be released after market close on Wednesday, November 9, 2011. The financial statements will be available on the Corporation’s website at www.semafo.com or at www.sedar.com.

SEMAFO will host a conference call to discuss the results, as well as to provide an update on operations.

Conference Call:   Date: Thursday, November 10, 2011
                                  Time: 10:00 AM (ET)
                                   Tel. local & overseas: 416 981-9000
                                   Tel. North America: 1 800 917-9975

The conference call will feature Benoit La Salle, President and Chief Executive Officer, Benoit Desormeaux, Executive Vice-President and Chief Operating Officer, Martin Milette, Chief Financial Officer, Michel Crevier, Vice-President Exploration and Mine Geology and Qualified Person, and Patrick Moryoussef, Vice-President Mining Operations.

The conference call will be archived for replay until November 30, 2011. To access the archived conference call, please dial 1 (800) 558 5253 and enter pass code 21541486 followed by the number sign (#).

A live audio webcast of the conference can be accessed through SEMAFO’s website at www.semafo.com. The webcast will be available for replay for a period of 60 days.

All numbers are preliminary and may be subject to final adjustment. Further information will be published in the Corporation’s third quarter 2011 operating and financial results to be released on November 9, 2011.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release may contain 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 put undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as “efforts”, “grow”, “achieve”, “ongoing”, “plan”, “increase”, “remains”, “will”, “guidance”, “evolve”, “become”, “pursuing” 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 increase plant capacity from 8,000 tonnes per day to 14,000 tonnes per day, the ability to connect the Mana Mine to the national power grid, the ability to attain our 2011 guidance, 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 2010 Annual MD&A, as updated in our 2011 First Quarter MD&A and 2011 Second 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.

For more information contact:

SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
Email: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
Email: sstlaurent@semafo.com

SEMAFO Enters Into an Agreement with Sonabel to Connect the Mana Mine to the National Power Grid Potential Cash Operating Cost Reduction of Up to $40 per Ounce

2011-10-03

Montreal, Quebec, October 3, 2011 – SEMAFO (TSX: SMF) today announced that the Corporation has entered into an agreement with National Electricity Company Sonabel for the construction of a 73-kilometer high-voltage transmission line to deliver power to its Mana mine in Burkina Faso.

The 26-megawatt transmission line will be connected directly to the national power grid and should provide sufficient energy to power the mine.

“Under this new power delivery agreement and in today's economy, we would be paying $0.18 per kilowatt-hour,” said Benoit Desormeaux, SEMAFO’s Executive Vice-President and Chief Operating Officer. “Based on current fuel and consumables costs and compared to our current cost of $0.31 per kilowatt-hour, this could represent potential savings of approximately three dollars per tonne processed and up to $40 per ounce of gold produced.”

SEMAFO will advance $9.5 million to the project. This amount is to be reimbursed to the Corporation by Sonabel over an eight-year period following commissioning, which is scheduled for the second half of 2013. The total cost of the project is estimated at $19 million.

All amounts are in US dollars unless otherwise stated.

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 “deliver”, “will”, “should”, “could”, “potential”, “committed”, “evolve”, “become”, “pursuing”, “growth” 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 build the transmission on time and on budget, the ability to deliver sufficient energy to the transmission line to power the mine, the ability to pay $0.18 per kilowatt-hour, the ability to realize potential savings of approximately three dollars per tonne processed and up to $40 per ounce of gold produced, the ability to be reimbursed over an eight-year period following commissioning, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO’s 2011 First Quarter MD&A and 2011 Second 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.

For more information contact:
SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
Email: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
Email: sstlaurent@semafo.com

SEMAFO Provides an Update on Operations at its Kiniero Mine in Guinea

2011-09-30

Montreal, Quebec, September 30, 2011 – SEMAFO (TSX: SMF) today provided an update on the temporary suspension of operations at its Kiniero mine in Guinea following an illegal protest by a group of local residents on Sunday, September 18, 2011.

A delegation representing the Government of Guinea is currently on site at the Kiniero mine to assess the situation and provide their recommendation on how to best move forward.

Mr. Guillaume CURTIS, Guinea’s Secretary General and Minister of Mines & Geology issued a letter to the Corporation affirming the Government’s outrage and disdain for the recent events. “The Government strongly condemns these heinous acts that are the work of an exceptional group of malicious individuals and do not represent the legendary tradition of hospitality of our people. Measures are being taken to shed light on these incidents in order to ensure that such events will not be repeated.” The Minister also reassured that, “The Government is committed now, more than ever, to secure and protect SEMAFO’s national and expatriate staff as well as its installations.”

“We continue to monitor the situation closely and are in constant contact with our Managing Director,” said Benoit Desormeaux, SEMAFO’s Executive Vice-President and Chief Operating Officer. “The stoppage is a precautionary measure following a protest by local residents around the property. At this time, we cannot ascertain when operations will resume. We are collaborating closely with the government to establish the best possible conditions to return to normal operations.”

Management remains confident that the Corporation will meet its 2011 annual production guidance of between 238,000 and 263,000 ounces of gold.

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 “move forward”, “ensure”, “be repeated”, “guidance”, “committed”, “evolve”, “become”, “pursuing”, “growth” 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 ensure that the recent events at our Kiniero mine will not be repeated, the ability of the Government of Guinea to secure and protect SEMAFO’s national and expatriate staff as well as our installations, the ability to meet our 2011 annual production guidance of between 238,000 and 263,000 ounces of gold, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO’s 2011 First Quarter MD&A and 2011 Second 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.

For more information contact:
SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
Email: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
Email: sstlaurent@semafo.com

SEMAFO Applies for Secondary Listing on NASDAQ OMX (Stockholm Release)

2011-09-28

Montreal, Quebec, September 28, 2011 – SEMAFO (TSX: SMF) today announced the Corporation’s decision to apply for a dual listing of its common shares on the NASDAQ OMX Stockholm exchange in Sweden. The listing is expected to be on or about October 20, 2011, subject to regulatory approvals.

No new shares will be issued as part of the secondary listing, but current shareholders will be able to convert their shares traded on the Toronto Stock Exchange to shares traded on NASDAQ OMX Stockholm.

The dual listing decision reflects SEMAFO’s desire to facilitate the participation of European investors seeking exposure to SEMAFO and to the West African gold sector.

“Our application for a dual listing on the NASDAQ OMX Stockholm is the next logical step in our value-creation strategy,” said Benoit La Salle, SEMAFO’s President and Chief Executive Officer. “This advancement will provide European investors with the opportunity to take advantage of SEMAFO’s unique savoir-faire and consistently solid operating results.”

SEMAFO was founded in 1995; a grassroots exploration company with the vision to build an ethical, reputable world-class gold company through a combination of exploration, development and acquisitions. Today, operations have evolved and the Corporation is a three-mine gold producer with a solid platform for sustainable growth. SEMAFO’s gold production has increased by 175% over the past five years to attain a record 261,100 ounces in 2010.

Last year, SEMAFO also achieved record production, revenues, net income, cash flow from operating activities and operating cash flow per share, while cash operating cost remained comparable to the previous year.

During the first six months of this year SEMAFO produced 128,800 ounces of gold and the Corporation remains confident that it will attain its 2011 production guidance of between 238,000 and 263,000 ounces of gold at a cash operating cost of between $595 and $645 per ounce.

This year, due in large part to the successful year-to-date exploration results, SEMAFO will invest $48.5 million in exploration. This includes $38.5 million in accelerated and expanded exploration programs on more than 1,195 km2 of permitted land at its flagship Mana Mine in Burkina Faso. Discoveries to date are situated over less than 10% of the structures identified on the Mana property, which attests to the area’s exceptional potential to become a mining district. Mana currently accounts for 69% of SEMAFO’s annual gold production.

SEMAFO recently announced plans to increase Mana’s processing capacity by 6,000 tonnes per day (“tpd”). The expansion project is aimed at increasing capacity at the plant to 14,000 tpd, representing as much as an additional 120,000 gold ounces annually and potentially bringing Mana's total production to more than 300,000 ounces per annum. This phase of expansion is in consideration of the positive drill results received from the Fofina, Fobiri and Yaho zones. The expansion is scheduled to begin in early 2012 and is expected to be completed during the second half of 2013.

As part of the preparations for the secondary listing, SEMAFO has entered into an agreement with Euroclear Sweden regarding the affiliation of the Corporation’s common shares.

Erik Penser Bankaktiebolag is the financial adviser and liquidity provider and Mannheimer Swartling is the Swedish legal adviser for the listing process.

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 “apply”, “expected”, “on or about”, “facilitate”, “next”, “value-creation”, “will be”, “will provide”, “opportunity”, “take advantage”, “consistently”, “remains confident”, “will attain”, “will invest”, “includes”, “attests”, “potential”, “plans”, “is aimed”, “additional”, “more than”, “scheduled”, “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 of the listing to take place on or about October 20, 2011, the ability to meet our 2011 production and cash operating cost guidance, the ability for throughput at Mana to yield a capacity of 14,000 tonnes per day, the ability to increase gold processing by 120,000 ounces annually or increasing Mana’s total gold production to more than 300,000 ounces per annum, the ability to commission the plant expansion by Q2 2013, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO’s 2011 First Quarter MD&A and 2011 Second 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.

For more information contact:

SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO’s Stockholm Listing Prospectus Approved (Stockholm Release)

2011-09-28

Montreal, Quebec, September 28, 2011 – SEMAFO (TSX: SMF) today announced that the Corporation’s Stockholm listing prospectus has been approved by and registered with the Swedish Financial Supervisory Authority.

The prospectus is available in the Investor Relations section of the Corporation’s website at www.semafo.com.

Copies of the prospectus may also be obtained through SEMAFO’s financial advisor and liquidity provider in connection to the listing, Erik Penser Bankaktiebolag, at www.penser.se or by calling +46 8 463 80 00.

The prospectus has been prepared in consideration of the application for admission to the trading of shares on the NASDAQ OMX Stockholm.

The information in this press release and in the prospectus does not constitute an offer to sell, nor does it constitute a solicitation of an offer to purchase SEMAFO securities in any jurisdiction.

For more information contact:
SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
Email: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
Email: sstlaurent@semafo.com

SEMAFO Applies for Secondary Listing on NASDAQ OMX Stockholm Listing Prospectus Approved

2011-09-28

No new shares will be issued as part of the secondary listing, but current shareholders will be able to convert their shares traded on the Toronto Stock Exchange to shares traded on NASDAQ OMX Stockholm.

The dual listing decision reflects SEMAFO’s desire to facilitate the participation of European investors seeking exposure to SEMAFO and to the West African gold sector.

“Our application for a dual listing on the NASDAQ OMX Stockholm is the next logical step in our value-creation strategy,” said Benoit La Salle, SEMAFO’s President and Chief Executive Officer. “This advancement will provide European investors with the opportunity to take advantage of SEMAFO’s unique savoir-faire and consistently solid operating results.”

Erik Penser Bankaktiebolag is the financial adviser and liquidity provider and Mannheimer Swartling is the Swedish legal adviser for the listing process.

For more information contact:
SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
Email: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
Email: sstlaurent@semafo.com

SEMAFO Plans to Increase Mana’s Processing Capacity by 6,000 Tonnes per Day

2011-09-08

Montreal, Quebec, September 8, 2011 – SEMAFO (TSX: SMF) today announced plans to increase the processing capacity by 6,000 tonnes per day (“tpd”) at its Mana property in Burkina Faso. The expansion project is aimed at increasing capacity at the plant to 14,000 tpd, representing as much as an additional 120,000 gold ounces annually and potentially bringing Mana’s total production to more than 300,000 ounces per annum.
This phase of expansion is in consideration of the positive drill results received from the Fofina, Fobiri and Yaho zones and is to include the construction of a satellite crushing and milling facility. The new facility, which is currently planned for the Fofina-Fobiri area, will prepare the ore for final processing at the Mana plant. This approach will play an important role in supplying increased ore to the processing plant as well as substantially expedite the overall production process of ore from the southern region in a highly economic manner.
Commenting on the expansion, Benoit Desormeaux, SEMAFO’s Executive Vice-President and Chief Operating Officer said, “With the geological results delineating the surrounding area’s significant potential, we are capitalizing on the opportunity to ensure that SEMAFO is prepared for the forthcoming increase in ore volume associated with these new zones.”
Capital expenditures for the expansion project are estimated at $100-$125 million and will be fully funded through SEMAFO’s cash flow. The anticipated payback period is less than one year.
As part of the plant expansion the Corporation also plans to build a water pipeline, for which an engineering analysis is already underway. The year-round accessibility will safeguard adequate water supply levels at the mill at all times and is scheduled for commissioning in the second quarter of 2012.

The expansion is scheduled to begin in early 2012 and is expected to be completed during the second half of 2013.

All amounts are in US dollars unless otherwise stated.

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 “plans”, “increase”, “expansion”, “project”, “aimed at”, “as much as”, “additional”, “potentially”, “will”, “forthcoming”, “estimated”, “anticipated”, “payback”, “scheduled”, “will safeguard”, “committed”, “evolve”, “become”, “pursuing”, “growth” 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 increase Mana’s processing capacity by 6,000 tpd or 14,000 tpd in bedrock, the ability to produce as much as an additional 120,000 gold ounces annually and potentially bring Mana’s total gold production to more than 300,000 ounces per annum, the ability to maintain a capital expenditure of between $100-$125 million, the ability to fund the expansion from SEMAFO’s cash flow, the ability to have a payback period of less than one year, the ability to safeguard adequate water supply levels at the mill at all times, the ability to commission the water pipeline in the second quarter of 2012, the ability to commission the plant expansion in early 2012, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO’s 2011 First Quarter MD&A and 2011 Second 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.

For more information contact:

SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Reports Record Second Quarter Net Income and Cash Flow Net Income of $32.9 Million - Margins Up 16%

2011-08-10

Montreal, Quebec, August 10, 2011 – SEMAFO (TSX: SMF) today reported its second quarter financial and operating results for the three-month period ended June 30, 2011. All amounts are in US dollars unless otherwise stated.

Second Quarter 2011 Highlights
• Gold production of 63,800 ounces
• Record gold sales of $100.4 million, an increase of 15% year over year
• Record operating income of $40.6 million, an increase of 11% year over year
• Record net income of $32.9 million an increase of 7% year over year
• Net income attributable to equity shareholders of $30.6 million or $0.11 per share compared to $29.9 million or $0.12 per share for the same period last year
• Record cash flow from operating activities of $43.2 million or $0.16 per share
• Record throughput and production at Mana
• Follow-up drilling that more than doubled the strike length of the gold mineralization on our recently discovered Yaho zone at Mana
• Drilling at Mana’s Fofina area continues to suggest a high-grade mineralization with some similarities to the gold-producing Nyafé deposit
• Encouraging initial drill results from Mana’s Massala-Saoura area
• Mana’s 2011 exploration budget gets $8.5 million increase
• Mana Underground receives green light

A Word from the CEO
With continued strong performance at our Mana property in Burkina Faso and spurred on by a strong gold price, our second quarter revenues increased by 15% over the same period last year and by 26% compared to the first quarter of 2011.

We achieved new milestones during the quarter with revenues reaching a record $100.4 million for the three-month period ended June 30, 2011. Our operating income attained an all-time high of $40.6 million for the quarter, an increase of 11% year over year and 60% compared to Q1 2011. We established a record $32.9 million in net income, representing a 7% increase over the same period last year. This quarter also saw record cash flow from operating activities of $43.2 million.

Our operating cost per ounce produced for the three-month period ended June 30, 2011 increased by 2% quarter over quarter despite rapidly rising energy costs industry wide. Our total cash margin was $859 per ounce sold for the quarter, bringing our six-month total cash margin to $807 per ounce sold compared to $676 for the same period in 2010, a 19% increase.

On the operations side, our Mana mine evidenced sustainable growth as a result of the completion of three phases of plant expansion. Mana’s operations team delivered another strong performance with new records for ore processed, gold ounces produced, gold ounces sold and revenues. Phase IV of the plant expansion is progressing well and on schedule for commissioning by year-end.

In the second quarter, we green-lighted the development of the Mana underground project following the results of the Underground feasibility study. Our human resources group is recruiting individuals specialized in underground mining and operations to complement and lend support to our team. Negotiations are underway with an experienced underground mining contractor who will bring the operation to start-up as well as train local staff. In light of the recent expansion of the Wona SW zone, which demonstrates opportunities to further increase underground reserves from those reported in the underground feasibility study, we are reviewing and optimizing mine engineering.

SEMAFO’s geology team successfully doubled the strike length of the newly-discovered Yaho zone to over 1.5 kilometers. This mineralization, which remains open in all directions, represents a new style of mineralization considerably different from Wona and Nyafé. These results also bring a better understanding of the zone which will assist our team in determining future work to ultimately increase resources. The new Yaho gold zone, which demonstrates outstanding mineralization widths, complements the Fofina – Fobiri discovery where assay results continue to suggest a high-grade mineralization with some similarities of the gold producing Nyafé deposit. The Fofina zone remains partially open and could provide additional flexibility to the Mana strategic plan in the near future.

Air core drilling was carried out on the Massala-Saoura area during the first half of 2011 following the completion of magnetic and Helitem surveys, which identified regional scale anomalies associated with historical surface sample results ranging up to 13.8 g/t Au. With less than 15% of assayed samples received from the total 28,235 meters drilled, preliminary results already indicate the potential for significant mineralization. Hole MAC11-1613 returned 6.77 g/t Au across 8 meters along what appears to be a regional scale geological contact identified from the airborne magnetic-Helitem survey.
Given SEMAFO’s successful year-to-date exploration results at Mana and taking into consideration our growth strategy and increased production objectives at our current facility, we have allocated an additional $8.5 million to Mana’s 2011 exploration budget. Exploration is to include more infill drilling and additional exploration and delineation which will be carried out this year on the different areas such as Fofina, Fobiri, Yaho, Wona SW and Massala-Saoura.

In late June, we announced the decision to build an exploration laboratory which will be located on the Mana property. This facility will significantly reduce the turnaround time for drilling assay results.

Our savoir-faire is fundamental to our commitment to maximize shareholder value, and was recognized by His Excellency Burkina Faso Prime Minister Luc Adolphe TIAO last month when he led a delegation which included the Minister of Mines, Quarries, and Energy, Salif Lamoussa KABORE on a visit to the Mana mine. On many occasions during the visit, His Excellency praised SEMAFO’s exemplary performance and commitment to community service.

Consolidated Results and Mining Operations

Management remains confident that the Corporation will attain its 2011 production guidance of between 238,000 and 263,000 ounces of gold at a cash operating cost of between $595 to $645 per ounce.

SEMAFO will host a conference call to discuss the results, as well as to provide an update on operations.

Date: Thursday, August 11, 2011
Time: 10:00 AM (ET)
Tel. local & overseas: 416 981-9011
Tel. North America: 1 800 379-4140

The conference call will be archived for replay until September 1, 2011. To access the archived conference call, please dial 1 (800) 558 5253 and enter pass code 21531860 followed by the number sign (#).

A live audio webcast of the conference can be accessed through SEMAFO’s website at www.semafo.com. The webcast will be available for replay for a period of 60 days.

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 “prospective”, “continues”, “suggest”, “encouraging”, “opportunities”, “increase”, “ultimately”, “could”, “additional”, “potential”, “remains confident”, “will”, “attain”, “guidance”, “committed”, “evolve”, “become”, “pursuing” 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 of the Wona SW zone to further increase underground reserves from those reported in the underground feasibility study, the ability of the extension of the Yaho zone to ultimately increase resources, the ability of the Fofina – Fobiri discovery to be a high-grade mineralization, the ability of the Fofina zone to provide additional flexibility to the Mana strategic plan in the near future, the ability of the Massala-Saoura area to attain significant mineralization, the ability to meet our 2011 production guidance of between 238,000 and 263,000 ounces of gold at a cash operating cost to between $595 to $645 per ounce, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO’s 2011 First Quarter MD&A and 2011 Second 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.

For more information contact:

SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO: Initial Drill Results at Mana’s Massala-Saoura include 6.77 g/t Au Over 8 Meters Year-to-date Results Motivate Mana Exploration Budget Increase of $8.5 Million

2011-08-09

Montreal, Quebec, August 9, 2011 – SEMAFO (TSX: SMF) today provided an update on the air core (“AC”) drilling program under way on the Massala and Saoura permits located approximately 90 kilometers north of the Mana Mill in Burkina Faso (ref. Figure 2). Air core drilling was carried out during the first half of 2011 following the completion of magnetic and Helitem surveys, which identified regional scale anomalies associated with historical surface sample results ranging up to 13.8 g/t Au. With less than 15% of assayed samples received from the total 28,235 meters drilled, preliminary results already indicate the potential for significant mineralization. Hole MAC11-1613 returned 6.77 g/t Au across 8 meters along what appears to be a regional scale geological contact identified from the airborne magnetic-Helitem survey (ref. Figure 1).

Given SEMAFO’s successful year-to-date exploration results at Mana and taking into consideration our growth strategy and increased production objectives at our current facility, we have allocated an additional $8.5 million to Mana’s 2011 exploration budget. Exploration is to include more infill and delineation drilling, which will be carried out this year on the different areas such as Fofina, Fobiri, Yaho, Wona SW and Massala-Saoura.

The 2011 program at Massala-Saoura consisted of drilling a series of six profiles across our permits (1,001 holes totalling 28,235 meters) covering two main magnetic-Helitem trends, which we believe represent major regional contacts or deformation zones. Both trends cross SEMAFO’s permits for a strike length of more than 15 kilometers each. The profiles are covered by short AC holes that are designed to test only the saprolitic horizon to a maximum depth of 50 meters. Both the west and east trends have similar geophysical signatures to that of the Wona deposit area. The magnetic and Helitem surveys suggest a series of magnetic and conductive units with a northeast orientation. Based on IP and magnetic data, these signatures are known to represent volcanosedimentary packages, such as those that host the Wona deposit. At Massala, the East Trend was considered interesting at the onset of the drilling program, considering the associated historic surface sample results, including 13.8 g/t Au. Section L6 is the northernmost section completed and the only section from which all assay results have been received. Near the west end of the line, hole MAC11-1613 returned high grade results including 6.77 g/t Au across 8 meters, as well as with other nearby gold values over short widths. This corridor appears to represent a regional contact and/or deformation zone where evidence of some minor artisanal mining was noted.

Also of significance is hole MAC11-1739 on line L5, which returned 8.35 g/t Au across 1 meter from the West Trend. The West Trend was not clearly visible from the magnetic survey but the Helitem clearly shows a second conductive trend similar in strike length to the East Trend (ref. Figure 1). Although this interval is narrow and requires further investigation to clearly identify its significance, it does demonstrate that the West Trend has potential.

“The early results at Massala-Saoura have underlined the geological potential of the permits,” said Michel Crevier, SEMAFO’s Vice-President, Exploration and Mine Geology. “We are in receipt of results from only one and a half of six lines and are already seeing the generation of follow-up targets, with more expected to materialize as the remaining results become available.”

As the remaining 85% of the assay results are received, a systematic reverse-circulation (“RC”) drilling program will be designed for immediate follow-up to significant results. The RC drilling will be designed to provide an indication of continuity, geometry, and geology of the gold-bearing occurrences identified.

These results and the non-scheduled new targets generated by the Helitem survey have prompted additional unbudgeted exploration. With this in mind and taking into consideration the success of our 2011 exploration activities to date, SEMAFO has elected to increase Mana’s exploration budget by $8.5 million. This will enable the extension of the Helitem survey to other permitted areas, and allow for new auger drilling programs and seek extensions of known zones. A significant portion of the additional budget will be allocated to carry out infill drilling with the objective of bringing additional reserves in support of SEMAFO’s growth strategy and production increase plans. Among the targets scheduled are: newly expanded blocks over Wona SW as reported in SEMAFO’s May 12, 2011 Press Release, completing the Fofina program as reported in SEMAFO’s Press Release dated July 18, 2011 and optimizing the potential adding of resources and reserves on the new Yaho zone as reported in SEMAFO’s Press Releases of March 10, 2011 and June 28, 2011.

The exploration programs were designed and managed locally by Dofinta Bondé and David Legault, Mana Mineral’s Exploration Chief Geologists, David Lalonde, Deputy Exploration Manager, and Richard Roy P Geo, Exploration Manager, and guided and supervised under the direction of Michel Crevier, P.Geo MScA, Vice-President, Exploration and Mine Geology and SEMAFO’s Qualified Person who has reviewed this press release for accuracy and compliance with National Instrument 43-101.

For AC drilling, all individual samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximately 2 kilogram subsample, which is sent for preparation and gold assaying at the ALS Chemex laboratories in Ouagadougou, Burkina Faso. Each sample is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Chemex laboratory. In addition to ALS Chemex’s own quality assurance/quality control (“QA/QC”) program, an internal QA/QC program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Figure 1 (Click to enlarge)

Figure 2 (Click to enlarge)

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release may contain 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 put undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as “indicate”, “potential”, “appears”, “will”, “believe”, “suggest”, “further”, “investigation”, “follow-up”, “targets”, “expect”, “seek”, additional”, “strategy”, “increase”, “plans”, “adding”, “committed”, “evolve”, “become”, “pursuing”, “growth”, “opportunities” and other similar 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 of less than 15% of assayed results to indicate potential for significant mineralization, the ability of the airborne magnetic and Helitem surveys to identify regional scale geological contact, the ability to carry out more infill drilling and additional exploration and delineation on different areas such as Fofina, Fobiri, Yaho, Wona SW and Massala-Saoura, the ability of magnetic-Helitem trends to represent major regional contacts or deformation zones, the ability of the magnetic and Helitem surveys to suggest a series of magnetic and conductive units, the ability of the 6.77 g/t Au 8 meter corridor to represent a regional contact and/or deformation zone, the ability of a narrow interval to demonstrate that the West Trend has potential, the ability of the additional exploration budget to bring additional reserves, variation in the price of gold and currencies, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays and other risks described in the SEMAFO’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO’s 2010 Annual 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.

For more information contact:

SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Drills 4.29 g/t Au over 25 Meters at Mana’s Fofina Area Consistent Values and Widths Confirm High-Grade Mineralization

2011-07-18

Montreal, Quebec, July 18, 2011 – SEMAFO (TSX: SMF) is pleased to provide an update on ongoing delineation drilling at Mana’s Fofina area, a deposit that was discovered in 2010. Reverse-circulation (“RC”) delineation drilling at 25-meter intervals was carried out within the core of the zone in May 2011. To date, we are in receipt of 64 percent of assay results which continue to suggest a high-grade mineralization with some similarities to the gold-producing Nyafé deposit located 3 kilometers east of Fofina (ref. Figure 1). While some assays remain pending, current data supports our original interpretation which remains consistent with the position of most of the new intersections.

In 2011, a total of 8,864 meters (30 holes) have been completed. Tighter spacing was favored due to the number of different parallel zones identified and the undulating nature of the mineralization. In addition, the mineralization has a low structural expression, particularly where the mineralization is narrow or pinched out. The close proximity of the spacing provides a better statistical database which consequently adds to the reliability of the interpretation.

A total of eight different zones (Fofina, and V1 to V7) are currently known in the area. At year-end 2010, inferred resources for the eight zones totaled 8,421,300 tons grading 3.15 g/t Au. The objective of the 2011 exploration program is to upgrade the near-surface resources and bring a portion to the reserves.

“The Fofina zone, our first discovery in 2010, continues to show high grade potential and remains partially open,” said Michel Crevier, SEMAFO’s Vice-President Exploration and Mine Geology. “Accordingly, this deposit could provide additional flexibility to the Mana strategic plan in the near future. While the Fofina zone doesn’t have an obvious visual expression, its grade and stacked geometry will clearly lend to the positive economics of the deposit.”

Following reception of the remaining assay results, SEMAFO will proceed with a follow-up program to refine the delineation where required and complete metallurgical work in order to provide the technical parameters necessary to establish the economics of the open pit potential of the Fofina deposit.

The exploration programs were designed and managed locally by Dofinta Bondé and David Legault, Mana Mineral’s Exploration Chief Geologists, David Lalonde, Deputy Exploration Manager, and Richard Roy P Geo, Exploration Manager, and guided and supervised under the direction of Michel Crevier, P.Geo MScA, Vice-President, Exploration and Mine Geology and SEMAFO’s Qualified Person who has reviewed this press release for accuracy and compliance with National Instrument 43-101.

For RC drilling, all individual samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximately 2 kilogram subsample, which is sent for preparation and gold assaying at the ALS Chemex laboratories in Ouagadougou, Burkina Faso. Each sample is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Chemex laboratories. In addition to ALS Chemex’s own quality assurance/quality control (“QA/QC”) program, an internal QA/QC program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Figure 1 (Click to enlarge)

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release may contain 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 put undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as “continue”, “suggest”, “pending”, “objective”, “could”, “will”, “potential”, “committed”, “evolve”, “become”, “pursuing”, “growth” and other similar 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 of the 64 percent of assay result to suggest a high-grade mineralization having some similarities to the Nyafé deposit, the ability to meet the objective of our 2011 exploration program, the ability to establish the economics of the open pit potential of the Fofina deposit, the ability to execute on our strategic focus, variation in the price of gold and currencies, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays and other risks described in the SEMAFO’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO’s 2010 Annual MD&A, as updated in SEMAFO’s 2011 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.

For more information contact:

SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Announces Second Quarter Production of 63,800 Ounces of Gold Gold Sales for the Quarter Increase 15% Year Over Year to $100.4 Million

2011-07-06

Montreal, Quebec, July 6, 2011 – SEMAFO (TSX: SMF) today announced that the Corporation produced a total of 63,800 ounces of gold in the second quarter 2011, including record production of 47,800 ounces at the Mana mine in Burkina Faso. This compares to SEMAFO’s production of 60,000 ounces of gold in the first quarter of 2011 and 68,300 ounces in the second quarter 2010. Gold production at Mana increased 6% over the first quarter 2011 and 5% compared to the same period last year.

Gold sales for the quarter totaled 66,100 ounces at an average realized gold price of $1,519 per ounce for revenues of $100.4 million. This compares to revenues $87.1 million from 72,000 ounces for the corresponding period in 2010 representing a 15% increase year over year.

“Second quarter production is up over our first quarter results and remains in line with both budget and our 2011 guidance,” said Benoit Desormeaux, Executive Vice-President and Chief Operating Officer. “Mana delivered another solid performance resulting in a new production record for the property.”

“The average realized gold price for the quarter was $1,519 per ounce, $13 per ounce above the London Gold Fix (PM),” said Benoit La Salle, SEMAFO’s President and Chief Executive Officer. “Our average realized gold price increased by $119 per ounce over the first quarter of 2011 and $309 per ounce compared to the same period in 2010.”

The Corporation's second quarter results for the three-month period ended June 30, 2011 will be released after market close on Wednesday, August 10, 2011. The financial statements will be available on the Corporation’s website at www.semafo.com or at www.sedar.com.

SEMAFO will host a conference call to discuss the results, as well as to provide an update on operations.

Conference Call:             Date:   Thursday, August 11, 2011
                                             Time:   10:00 AM (ET)
                                             Tel. local & overseas: 416 981-9011
                                            Tel. North America: 1 800 379-4140

The conference call will be archived for replay until September 1, 2011. To access the archived conference call, please dial 1 800 558-5253 and enter pass code 21531860 followed by the number sign (#).

A live audio webcast of the conference can be accessed through SEMAFO’s website at www.semafo.com. The webcast will be available for replay for a period of 60 days.

Production numbers are preliminary and may be subject to final adjustment. Further information will be published in the Corporation’s second quarter operating and financial results to be released on August 10, 2011.

For more information contact:

SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO’s Yaho Zone More Than Doubles Strike Length to Over 1.5 kilometers Consistent Wide Gold Mineralizations with Zone Remaining Open in All Directions

2011-06-28

Montreal, Quebec, June 28, 2011 – SEMAFO (TSX: SMF) announced today that follow-up drilling has more than doubled the strike length of the gold mineralization to more than 1.5 kilometers on its recently discovered Yaho Zone. Initial drilling (reference SEMAFO’s press release dated March 3, 2011) identified a continuous strike length over 600 meters. Follow-up drilling has extended the gold zone to the south and to the north with a total current strike length of more than 1.5 kilometers. The Yaho Zone remains open on strike and at depth.

In addition, three core drill holes have been completed in order to characterize the geological environment of the mineralization and understand the structural controls. Assay results from the core holes remain pending.

The second phase of RC and core drilling provides a better understanding of the area’s host rock. The Yaho Zone is hosted by a clastic sedimentary unit which varies from a conglomerate to a quartz-rich sandstone (Figure 1). The conglomerate beds observed are polymictic with abundant quartz-rich clasts and occasional rounded clasts of volcanic origin. The clastic unit is bounded by basaltic flows to the west and a sequence of fine graphitic sediments and volcanoclastics to the east. Alteration is constrained to the clastic unit and consists of strong pervasive sericitization and silicification. Some quartz veining is also present, although not pervasive. Mineralization occurs as a series of stacked zones varying in widths of up to 19 meters on the three newly drilled sections. Mineralization includes disseminated pyrite and arsenopyrite in varying amounts, ranging up to 5 to 10 percent locally. As shown in Figure 2, anomalous gold grades are very common in the clastic unit with many higher-grade sections, which appear to continue at depth from hole to hole over wide intervals. Gold grades obtained across the mineralized zone show excellent consistency, which also suggests that a similar regular grade distribution probably occurs along strike.

Section 1,310,200N is virtually perpendicular to the zone and shows a moderate dip of both the host unit and the gold-bearing zones. The host unit trends generally north-south but is also folded along an east-west fold axis, representing a second phase of folding commonly seen across the entire property. The core of the zone seems to be located at the hinge of the latter folding, although the details of the geometry remain to be clearly established.

“The Yaho Zone represents a new style of mineralization, considerably different from Wona and Nyafé,” states Michel Crevier, SEMAFO’s Vice-President, Exploration and Mine Geology. “Recent work provides a much better understanding of the Yaho Zone, which will assist us in determining future work to ultimately increase resources. It also further accentuates Mana’s exceptional potential as host to various styles of mineralization.”

Additional drilling at Yaho will include delineation of the currently known 1.5- to 2-kilometer strike length, as well as further exploration of sections to the north and south to extend the strike potential.

We are experiencing significant delays in obtaining drill results due to substantial backlog at the independent assays laboratories in Ouagadougou. We therefore anticipate receipt of preliminary drilling results for the Massala and Saoura areas in July. Consequently, SEMAFO has decided to build an exploration laboratory to be located on the Mana property. This facility will significantly reduce the turnaround time for drilling assay results and accelerate the reporting process.

The exploration programs were designed and managed locally by Dofinta Bondé and David Legault, Mana Mineral’s Exploration Chief Geologists, David Lalonde, Deputy Exploration Manager, and Richard Roy, P. Geo, Exploration Manager, and guided and supervised under the direction of Michel Crevier, P.Geo MScA, Vice-President, Exploration and Mine Geology and SEMAFO’s Qualified Person who has reviewed this press release for accuracy and compliance with National Instrument 43-101.

Figure 1 (click to enlarge)

Figure 2 (click to enlarge)

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release may contain 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 put undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as “suggests”, “seems”, “remain”, “will”, “future”, “ultimately”, “increase”, “further”, “potential”, “anticipate”, “committed”, “evolve”, “become”, “pursuing” and other similar 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 of the consistency of the gold grades obtained across the mineralized zone to have similar grade distribution along strike, the ability of future work to ultimately increase resources, Mana’s ability to host various styles of mineralization, the ability to receive preliminary drilling results for the Massala and Saoura areas in July, the ability of the new exploration laboratory to reduce the turnaround time for drilling assay results and accelerate the reporting process, variation in the price of gold and currencies, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays and other risks described in the SEMAFO’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO’s 2010 Annual MD&A, as updated in our 2011 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.

For more information contact:

SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO’s Net Income Increases 70% to $20.4 Million for the First Quarter 2011 Mana Underground Development Receives Green Light

2011-05-30

Montreal, Quebec, May 30, 2011 – SEMAFO (TSX: SMF) today announced its first quarter financial and operating results for the three-month period ended March 31, 2011. All amounts are in US dollars unless otherwise stated.

First Quarter 2011 Highlights
In the first quarter 2011, SEMAFO produced 60,000 ounces of gold and achieved gold sales of $79.4 million, compared to gold production of 65,800 ounces and sales of $63.6 million for the corresponding period in 2010. Highlights for the first quarter include:

• Gold production of 60,000 ounces, a 9% decrease year over year
• Gold sales of $79.4 million, an increase of 25% year over year
• Operating income of $25.4 million, an increase of 40% year over year
• Net income of $20.4 million an increase of 70% year over year
• Net income attributable to equity shareholders of the Corporation of $18.2 million or $0.07 per share compared to $11.8 million or $0.05 per share for the same period last year
• Quarterly cash flow from operating activities of $31.2 million or $0.11 per share, a 16% increase year over year
• Record throughput at Mana
• Discovery of the new Yaho gold zone in Burkina Faso
• Identification of new prospective targets at Mana
• Completion of the Wona Underground feasibility study, further confirming the economic viability of an underground mining operation at our Mana property in Burkina Faso

A Word from the CEO
With our organic growth strategy well underway, we begin 2011 with our first quarter results fundamentally in line with our expectations. We remained focused, having maintained our methodical approach in containing the significant industry-wide rise in energy and consumables costs.

Following the completion of the plant expansion at Mana, we processed a record 584,800 tonnes of ore, a 34% improvement year over year, thereby increasing overall operating income by 40%. Cash margin increased by 26% to $746 per ounce sold compared to $593 in the first quarter 2010.

Our production, combined with the rising price of gold, contributed to a 70% increase in net income for the first quarter compared to the same period in 2010. The 25% increase in gold sales is a direct result of the higher average realized price of gold, which surpassed the average London Gold Fix for a ninth consecutive quarter.

We are green-lighting development of the underground project following the results of the Mana Underground feasibility study, indicating a 49% internal rate of return based on a $1,400 gold price. Additionally, the recent expansion of the Wona SW zone demonstrated opportunities to further increase underground reserves from those reported in the underground feasibility study.

Phase IV of our Mana plant expansion is progressing well and on schedule for commissioning by year-end. This phase is aimed at increasing plant capacity to attain throughput of up to 7,200 tonnes per day in bedrock and up to 8,000 tonnes per day in blended ore.

SEMAFO’s geology team accelerated our exploration programs, which have already brought about great results. Our $30-million exploration campaign aimed at further defining and ultimately increasing mineral reserves and resources at Mana is under way with 12 drills active on the property. The discovery of the new Yaho gold zone, which demonstrates significant mineralization widths, will complement the Fofina–Fobiri discovery as part of our production growth analysis scheduled for year-end 2011.

Management remains confident that the Corporation will attain its 2011 production guidance of between 238,000 and 263,000 ounces of gold. In light of increasing fuel costs and the energy-dependent nature of our operations, we have revised our cash operating cost guidance to between $595 to $645 per ounce of gold produced. Assuming an average gold price of $1,450 per ounce, our total cash margin is estimated to increase to between $755 and $805 per ounce, compared to $723 in 2010.

A number of assumptions were made in preparing the 2011 revised cash operating cost guidance in this press release, including:

• $1.16 per liter of crude oil
• Canadian/US dollar exchange rate at par
• US dollar/Euro exchange rate of $1.42
• Social and political stability in Africa
• Continued stable production at the Corporation’s three mines

SEMAFO will host a conference call to discuss the results, as well as to provide an update on operations.
(Please note amended dial-in telephone numbers from previously-published information.)

Date:   Tuesday, May 31, 2011
Time:   10:00 AM (ET)
Tel. local & overseas:   416 981-9000
Tel. North America:   1 800 379-4140

The conference call will feature Benoit La Salle, FCA, President and Chief Executive Officer and Benoit Desormeaux, CA, Executive Vice-President and Chief Operating Officer, Martin Milette, CA, CPA, Chief Financial Officer, Michel Crevier, SEMAFO’s Geology Manager and Qualified Person and Patrick Moryoussef, Mining Operations Manager.

The conference call will be archived for replay until June 21, 2011. To access the archived conference call, please dial 1 800 558-5253 and enter pass code 21524020 followed by the number sign (#).

A live audio webcast of the conference can be accessed through SEMAFO’s website at www.semafo.com. The webcast will be available for replay for a period of 90 days.

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 “prospective”, “targets”, “strategy”, “rising”, “development”, “indicating”, “increase”, “progressing”, “schedule”, “aimed at”, “attain”, “further”, “growth”, “will”, “remains confident”, “guidance”, “assumptions”, “driven”, “estimated”, “committed”, “evolve”, “become”, “pursuing” 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 a 49% internal rate of return on the Mana underground project, the ability of the Wona SW zone to further increase underground reserves from those reported in the Mana underground feasibility study, the ability of Phase IV of our Mana plant expansion to be completed on schedule and to attain throughput of up to 7,200 tonnes per day in bedrock and up to 8,000 tonnes per day in blended ore, the ability of our $30-million exploration program to further define and ultimately increase mineral reserves and resources at Mana, the ability to meet our 2011 production guidance of between 238,000 and 263,000 ounces of gold at a cash operating cost to between $595 to $645 per ounce of gold produced, the ability to meet a total cash margin of between $755 and $805 per ounce, 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 2010 Annual MD&A and 2010 Annual Information Form, as updated in SEMAFO’s 2011 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.

For more information contact:

SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Further Expands Mana’s Wona SW Zone Results Include 4.17 g/t Au Over 32 Meters Kona Infill Drilling Confirms Mineralization Distribution

2011-05-12

Montreal, Quebec, May 12 , 2011 – SEMAFO (TSX: SMF) announced today that recent drilling over the Wona SW zone demonstrates multiple opportunities to further expand underground reserves from those reported in the Mana Underground Feasibility Study. Core drilling values including hole WDC256, which returned 4.17 g/t Au over 32 meters in an area formerly expected to be outside the mineralized zone. Furthermore, results from the in-progress infill drilling program over the Kona open pit area confirmed ore distribution.

The database and block model submitted for the underground Feasibility Study dated October 2010 were closed with diamond drill hole (“DDH”) WDC223 and reverse circulation (“RC”) hole MRC10-214. At year-end 2010, the updated database (up to WDC256 and MRC10-223) and block model over the Wona-Kona area resulted in the addition of resources to the underground, while new resources and reserves were added to the Kona open pit area. From completion of the underground block model database in October 2010 until early March 2011, 46 diamond drill holes representing 24,500 meters were completed over the Wona deposit and 124 RC drill holes representing 16,300 meters were carried out over the Kona zone. The following table illustrates the Wona zone and parallel structure drill results from the last months of 2010 and until early March 2011. The large volume of drilling explains a lengthier than usual assays turnover time.

Wona
Recent drilling results demonstrated significant potential for new reserves, particularly on the southern-most side of the Wona SW zone, as illustrated on the attached figure. These potential incremental reserves are derived from different sources; some are a result of upgrading former low-grade areas, others are upgrading resources from the inferred to the indicated category and therefore enabling the minimum level of confidence to create reserves and finally, some are an extension of the perimeters. An example of the latter is hole WDC256, where an embayment is created, which returned 4.17 g/t Au over 32 meters. This hole is located in an area where inferred resources had not been established prior to the drilling, as we believed it to be outside the mineralization trend. The extensions will require further lengthening of the proposed development. Additionally, due to their width, the project extensions will most likely be in-ore drifts consistent with Avoca Long Hole Mining. Higher than expected grades in certain areas also identified new upside within the current block model. These areas are crossed by planned drifts and therefore easily converted to reserves. Three rigs are active on infill drilling and on the extension of the Wona SW Zone.

The feasibility study of the underground project lowered the bottom of the underground mine by some 90 meters compared with the pre-feasibility planning, to an elevation of 4,770 meters. Accordingly, the very deep exploration drilling program is pushed deeper, with the remaining portion requiring higher grades to achieve economic viability. Infill drilling in the southwest, above 4,770 EL, will increase due to the ease of transformation to reserves, therefore requiring a more significant portion of the drilling program and thus slowing the investigation of the very deep area.

Kona
Recent infill drilling at Kona provides more precision to the reserves and surrounding resources, confirming year-end technical report estimations and ore distribution (ref. Annex 1: Kona Zone Reverse-Circulation Drill Results). This program remains in progress.

The exploration programs were designed and managed locally by Dofinta Bondé and David Lalonde, Mana Mineral’s Exploration Chief Geologists and Richard Roy P.Geo, Exploration Manager, and guided and supervised under the direction of Michel Crevier, P.Geo MScA, Geology Manager and SEMAFO’s Qualified Person who has reviewed this press release for accuracy and compliance with National Instrument 43-101.

For core drilling, all individual samples represent approximately one-meter in length of core, which was sawed 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. For RC drilling, all individual samples represent approximately one meter in length of rock chips homogenized and riffle-split to an approximately 2-kilogram subsample, which is sent for preparation and gold assaying at the ALS Chemex laboratories in Ouagadougou, Burkina Faso. Each sample (core and RC) is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Chemex laboratories. In addition to ALS Chemex’s own QA/QC (Quality Assurance/Quality Control) program, an internal quality control and quality assurance program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Figure 1 (Click to enlarge)

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release may contain 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 put undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as “further”, “expand”, “expected”, “in-progress”, “potential”, “believed”, “committed”, “evolve”, “become”, “pursuing” and other similar 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 of the recent drilling over the Wona SW zone to expand underground reserves from those reported in the Mana Underground Feasibility Study, the ability of the recent and ongoing drilling to increase reserves on the southern-most side of the Wona SW zone, the ability to execute on our strategic focus, variation in the price of gold and currencies, 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 2010 Annual 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.

For more information contact:

SEMAFO
Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

Annex 1

Business as Usual for SEMAFO's Mana Mine in Burkina Faso

2011-04-18

Montreal, Quebec, April 18, 2011 – SEMAFO (TSX: SMF) today confirmed that recently reported unrest in Burkina Faso has not caused any disruptions to normal course operations at its Mana Mine.

In the event of a change to normal course operations at the mine, SEMAFO will issue a press release.

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.

For more information contact:

SEMAFO

Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Produces 60,000 Ounces of Gold in Q1 2011 Gold Sales for the Quarter Up 25% Year Over Year to $79.4 Million

2011-04-11

Montreal, Quebec, April 11, 2011 – SEMAFO (TSX: SMF) today announced a total gold production of 60,000 ounces for the first quarter 2011 compared to 65,800 ounces for the same period in 2010. Production at Mana totaled 45,000 ounces for the quarter, an increase of 9% over to the same period last year.

Gold sales for the quarter were 56,700 ounces at an average realized gold price of $1,400 per ounce for revenues of $79.4 million. This compares to 57,200 ounces at an average realized gold price of $1,111 per ounce for revenues of $63.5 million for the corresponding period in 2010, representing a 25% increase year over year.

“First quarter production is in line with both budget and our 2011 guidance,” said Benoit Desormeaux, Executive Vice-President and Chief Operating Officer. “We expect increased production as our production budget is stronger for the last three quarters of the year.”

“The average realized gold price for the quarter was $1,400 per ounce, $14 per ounce above the London Gold Fix (PM),” said Benoit La Salle, SEMAFO’s President and Chief Executive Officer. “Our average realized gold price increased by $289 per ounce over the first quarter of 2010.”

The Corporation's first quarter results for the three-month period ended March 31, 2011 will be released after market close on Monday, May 30, 2011. The financial statements will be available on the Corporation’s website at www.semafo.com or at www.sedar.com.

SEMAFO will host a conference call to discuss the results, as well as to provide an update on operations.

Conference Call:     Date:   Tuesday, May 31, 2011
                                    Time:   10:00 AM (ET)
                                    Tel. local & overseas: (416) 981 9000
                                    Tel. North America: 1 (800) 750 5857

The conference call will feature Benoit La Salle, President and Chief Executive Officer, Benoit Desormeaux, Executive Vice-President and Chief Operating Officer, Martin Milette, Chief Financial Officer, Michel Crevier, SEMAFO’s Geology Manager and Qualified Person, and Patrick Moryoussef, Mining Operations Manager.

The conference call will be archived for replay until June 29, 2011. To access the archived conference call, please dial 1 (800) 558 5253 and enter pass code 21484273 followed by the number sign (#).
A live audio webcast of the conference can be accessed through SEMAFO’s website at www.semafo.com. The webcast will be available for replay for a period of 60 days.

Production numbers are preliminary and may be subject to final adjustment. Further information will be published in the Corporation’s first quarter operating and financial results to be released on May 30, 2011.

For more information contact:

SEMAFO

Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Announces Completion of Mana Underground Feasibility Study Production rate increased by 33%, to 4,000 Tonnes per Day, from Pre-feasibility Study

2011-03-31

Montreal, Quebec, March 31, 2011 – SEMAFO (TSX: SMF) today announced completion of the Wona Underground feasibility study (“FS”), further confirming the economic viability of an underground mining operation at its Mana property in Burkina Faso. Gold production from the underground mine is estimated at 942,600 recoverable ounces at a cash operating cost of $589 per ounce or $42.25 per tonne processed. This represents a nine-year mine life at a mining rate of 4,000 tpd from the underground mine, a 33% increase in production rate from the pre-feasibility study (“PFS”). All amounts are in US dollars unless otherwise stated.

Highlights of the Feasibility Study (Using a $1,100/oz Gold Price):
• Total proven and probable mineral reserves of 13.2 million tonnes at 2.74 g/t Au representing 1,163,700 ounces
• Average annual production from the underground mine of 100,400 ounces at a cash operating cost of $589 per ounce at full production
• Underground mine life of more than nine years at 4,000 tpd
• Mining methods: long hole transverse and longitudinal retreat
• Initial capital expenditure of $140 million
• Pre-tax operating cash flow of $452 million, generating a 28% internal rate of return
• Three-year payback period

“Changes in capital expenditures are in line with our expectations and are mainly attributable to the increase in development related to additional reserves, a larger mining fleet and a second ramp to accommodate the increased mining rate of 4,000 tpd. The underground potential is still open at depth and to the south and we have yet to incorporate the Kona Zone at-depth potential. We are confident that we will continue to add underground ounces to further increase the project’s cash flow and internal rate of return during the development and in the course of operations.” said Benoit Desormeaux, SEMAFO’s Executive Vice-President and Chief Operating Officer. “This is another milestone in our quest to attain production of 500,000 ounces per year at Mana by 2015.”

Study parameters include a 1.8-g/t Au cut-off grade, a processing plant recovery rate of 81% and average energy costs of $0.17 per kWh using 25% gensets and 75% feed from the contemplated National power grid.

The Wona Underground project is particularly attractive due to infrastructure currently in place and Phase IV of the Mana plant expansion to increase throughput to up to 8,000 tpd in mixed ore. The FS allows for increased underground production of 4,000 tpd, compared to 3,000 tpd in the PFS. The plant processing capacity of 8,000 tpd will be sourced 50% from the open pits and 50% from the underground.

The Wona Underground feasibility study includes updated mineral reserves totaling 1.163 million ounces. The feasibility study for the Wona Underground deposit includes a 37% increase in mineral reserves compared to the June 2010 pre-feasibility study results, representing an additional 314,000 ounces. The increase in reserves is attributable to the addition of the Wona SW Zone. The feasibility study excludes all exploration results received after the December 31, 2010 mineral reserves and resources update.

Reserves include a total of 13,198,000 tonnes at an average grade of 2.74 g/t Au or 1,163,700 ounces, of which 2,383,000 tonnes are at an average grade of 2.51 g/t Au or 192,200 ounces in the proven category, and 10,815,000 tonnes at an average grade of 2.79 g/t Au or 971,500 ounces in the probable category.

Dumas Contracting Limited (“Dumas”) participated in the feasibility study by supplying personnel and expertise to assist Met-Chem Canada in estimating development costs and schedules. SEMAFO’s partnership with a mining contractor reduces risks associated with equipment availability, underground workmanship expertise and training of National employees, which will in turn also allow for SEMAFO to continue to focus on organic growth within the high-potential Mana property.

A National Instrument 43-101 (“NI 43-101”) compliant report will be filed on SEDAR on March 31, 2011. The FS was conducted by Met-Chem Canada Inc. under NI 43-101 and with the collaboration of SEMAFO’s technical group. Patrick Moryoussef, SEMAFO’s Mining Operations Manager and Qualified Person (as defined in NI 43-101), has reviewed this press release for accuracy and compliance with NI 43-101.

About Met-Chem
Met-Chem is an internationally renowned consulting engineering firm established in 1969 to provide all phases of geology, mining, mineral processing and engineering services throughout the world. From its headquarters in Montreal, Met-Chem offers the mining industry professional expertise that covers scoping, pre-feasibility and feasibility studies, basic and detailed engineering, procurement and construction management, training, start-up, commissioning and operations assistance.

About Dumas
Dumas is a leading full-service underground mining contractor with over 1,200 employees providing services for clients all over the world. Dumas offers the full range of underground hard rock mining contracting services including mine construction, mine development, production mining, mine services and engineering, and maintains the highest quality equipment fleet to meet clients’ needs. Dumas has an unwavering commitment to an industry-leading health and safety program and to the ultimate goal of “Zero Harm.” The company’s client list includes some of the world’s largest and most respected mining companies.

CAUTION CONCERNING FORWARD-LOOKING STATEMENT
This press release may contain 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 “feasibility”, “further”, “confirming”, “viability”, “estimated”, “mine life”, “probable”, “initial”, “payback period”, “expectations”, “yet”, “potential”, “confident”, “add”, “quest”, “attain”, “capacity”, “will”, “committed”, “evolve”, “become”, “maintaining”, “strengthening”, “increase” and other similar expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include our ability to meet the various results of the FS, the economic viability of an underground operation at Mana, the ability of the gold production from the underground mine to reach 942,600 recoverable ounces at a cash operating cost of $589 per ounce or $42.25 per tonne processed, the ability to reach an average annual production from the underground mine of 100,400 ounces at a cash operating cost of $589 per ounce at full production, the ability to maintain an initial capital expenditure of $140 million, the ability to reach our expected operating cash flow of $452 million and generate a 28% internal rate of return, the ability to meet the expected three-year payback period, the ability to add underground ounces to further increase the project’s cash flow and internal rate of return during the development and in the course of operations, the ability to attain production of 500,000 ounces per year at Mana by 2015, the ability of Phase IV of the Mana plant expansion to increase throughput to up to 8,000 tpd in mixed ore, 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 the SEMAFO’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO’s 2010 Annual 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.

For more information contact:

SEMAFO

Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Reports Record 2010 Cash Flow from Operations of $147.5 Million Record Production – Revenues – Net Income – Cash Margins

2011-03-16

Montreal, Quebec, March 16, 2011 – SEMAFO (TSX: SMF) today announced its financial and operational results for the fourth quarter and year ended December 31, 2010. All amounts are in US dollars unless otherwise stated.

2010 Highlights
In 2010 SEMAFO had its best year ever with production totaling 261,100 ounces of gold for sales of $323.3 million, compared to gold production of 242,400 ounces and sales of $240.8 million in 2009. Cash flow from operating activities increased to a record $147.5 million, compared to $92.1 million in 2009. Highlights for the year ended December 31, 2010 include:
- Record gold production of 261,100 ounces, a 8% increase over the same period last year
- Record gold sales of $323.3 million, an increase of 34% compared to last year
- Cash operating cost of $466 per ounce produced compared to $463 for the same period in 2009
- Record operating income of $128.9 million, an increase of 112% compared to 2009
- Record total cash margin of $723 per ounce
- Record net income of $103.2 million or $0.39 per share, an improvement of 137% over the same period last year
- Record cash flow from operating activities of $147.5 million or $0.56 per share, an increase of 60% over last year
- Increase of 180% in proven and probable reserves at Mana
- Continued exploration success at Mana
- Successful completion of Phases I, II and III of the Mana plant expansion
- Encouraging exploration results at Samira Hill

Fourth Quarter Highlights
- Gold production of 61,500 ounces, a 6% increase over the same period last year
- Gold sales of $86.4 million, an increase of 18% compared to last year
- Cash operating cost of $533 per ounce produced compared to $506 for the fourth quarter 2009
- Cash operating cost of $ $408 per ounce produced at Mana compared to $399 for the same period in 2009
- Operating income of $33.2 million, an increase of 90% compared to 2009
- Record total cash margin of $795 per ounce
- Net income of $27.0 million or $0.09 per share, an improvement of 157% over the same period last year
- Cash flow from operating activities of $38.7 million or $0.14 per share, an increase of 62% over last year
- Successful completion of Phase III of the Mana plant expansion

A Word from the CEO

SEMAFO has grown from a grassroots exploration company to a three-mine gold producer. Our operations have evolved, essentially owing to our unique savoir-faire, and today provide our Corporation with a solid platform for sustainable growth. In 2010, we achieved record production, revenues, net income, cash flow from operating activities and operating cash flow per share, while our cash operating cost remained comparable to the previous year.

Over the past five years our cash margin rose from $45 to $723 per ounce, outpacing the average gold price increase. Our cash flow from operating activities totaled $147.5 million in 2010 compared to negative cash flow of $ 4 million in 2006, and our basic net income per share increased from a $0.11 basic net loss per share to a $0.39 basic net income per share for the same period.

In 2010, we celebrated the production of our one-millionth ounce of gold, an accomplishment unmatched by the majority of companies in our industry.

Energized by a 180% increase in reserves and 195% in inferred resources at Mana, our team continues to focus on this property as a flagship asset in our value creation model. Recognizing that the structures identified thus far represents less than 10% of the property, in 2010 we invested $18 million in accelerated exploration programs. We are motivated by the excellent 2010 exploration results and hence have established an initial $30-million exploration budget for the Mana property in 2011.

We are pleased with the successful completion of our Mana plant expansion, which increased plant capacity from 4,000 tonnes per day to 6,000 tonnes per day in hard rock. The construction and commissioning of all three phases of the plant expansion were efficiently scheduled and executed on time and on budget with little or no impact on our operations.

The next few years promise to be an exciting time for SEMAFO, as our expanded Mana property continues to strengthen our production profile. As part of this initiative, we will continue to maximize Mana’s on-surface and at-depth exploration programs to ultimately increase shareholder value.

In the past five years we have proven that our growth is sustainable and that our unique savoir-faire is present at all levels of our operations. We are now considered a significant player in our industry and remain committed to continue to grow responsibly to create value for our shareholders.

SEMAFO’s Consolidated Financial Statements and Management's Discussion and Analysis and other relevant financial materials are available in the Investor Relations section of the Company's website at www.semafo.com. These and other Company reports are also available on the website maintained by the Canadian Securities regulators at www.sedar.com.

2010 Fourth Quarter and Year-End Conference Call
SEMAFO will host a conference call to discuss the results, as well as to provide an update on operations.

Date: Thursday, March 17, 2011
Time: 10:00 AM (ET)
Tel. local & overseas: 416 641-6699
Tel. North America: 1 888 223-4512

The conference call will feature Benoit La Salle, President and Chief Executive Officer, Benoit Desormeaux, Executive Vice-President and Chief Operating Officer, Martin Milette, Chief Financial Officer, Michel Crevier, SEMAFO’s Geology Manager and Qualified Person, and Patrick Moryoussef, Mining Operations Manager.

The conference call will be archived for replay until April 7, 2011. To access the archived conference call, please dial 1 800 558-5253 and enter pass code 21512810.

A live audio webcast of the conference can be accessed through SEMAFO’s website at www.semafo.com. The webcast will be available for replay for a period of 90 days.

Annual and Special Shareholders Meeting
SEMAFO’s Annual Meeting of Shareholders will be held on Tuesday, May 10, 2011 at 4:00 p.m. at Hotel Reine-Élizabeth, Salle Duluth, 900 René-Lévesque Boulevard West, in Montreal, Quebec. Attendees will have the opportunity to ask questions and meet the management team and Board of Directors.

Consolidated Results and Mining Operations

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 “continues”, “will”, “growth”,
“create”, “evolve”, “become”, “focus”, “maximize”, “pursuing” 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 $30 million exploration program for the Mana property in 2011, the ability to continue to maximize Mana’s on-surface and at-depth exploration programs to ultimately increase shareholder value, the ability to continue to grow responsibly to create value for our shareholders, 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 2010 Annual 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.

For more information contact:

SEMAFO

Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Board Approves Shareholder Rights Plan

2011-03-15

Montréal, Québec, March 15, 2011 – SEMAFO (TSX: SMF) today announced that the board of directors of SEMAFO has approved the adoption of a shareholder rights plan (“Rights Plan”) for which shareholder approval will be sought at the Corporation’s annual and special meeting of shareholders to be held on May 10, 2011.

The purpose of the Rights Plan is to provide the shareholders and directors of SEMAFO with adequate time to consider and evaluate any unsolicited bid and to provide the directors with adequate time to identify, develop and negotiate value-enhancing alternatives, if considered appropriate, to any such unsolicited bid.

The Rights Plan has been accepted by the Toronto Stock Exchange and is effective as of March 15, 2011 (the “Effective Date”). At the close of business on the Effective Date, one right (a “Right”) will be issued and attached to each common share of SEMAFO outstanding at that time. A Right will also be attached to each common share issued after the Effective Date. The issuance of the rights will not change the manner in which shareholders trade their common shares of SEMAFO. If the Rights Plan is not ratified by shareholders at the upcoming annual and special meeting, it and all rights outstanding at that time will terminate. If the Rights Plan is ratified by shareholders at such meeting, the Rights Plan will be in effect until the termination of the Corporation’s annual meeting in 2014.

The Rights Plan is similar to other rights plans adopted by many Canadian corporations. The Rights Plan is not triggered if an offer to acquire common shares of SEMAFO is made as a “Permitted Bid” and thereby allows sufficient time for shareholders to consider and react to the offer. A “Permitted Bid” is a take-over bid made by way of a take-over bid circular that, among other things, remains open for a minimum of 60 days and requires that it be accepted by more than 50% of the common shares held by independent shareholders. The Rights Plan will be triggered by an acquisition, other than pursuant to a Permitted Bid, of 20% or more of the outstanding common shares of SEMAFO or the commencement of a take-over bid that is not a Permitted Bid.

The Rights Plan was not proposed in response to, or in anticipation of, any pending, threatened or proposed acquisition or take-over bid. The directors did not adopt the Rights Plan to deter take-over proposals.

The Rights Plan will be filed shortly and will be available on SEDAR at www.sedar.com, or available free of charge upon request to SEMAFO’s Corporate Secretary.

For more information contact:

SEMAFO

Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Discovers New Gold Zone with 2.27 g/t Au Across 54 Meters Up to 80-meter-Wide Continuous Mineralization Over 600-Meter Strike Length and Remaining Open in All Directions

2011-03-10

Montreal, Quebec, March 10, 2011 – SEMAFO (TSX – SMF) today announced the discovery of the new Yaho gold zone, located 4.5 kilometers southwest of the Fofina zone and 20 kilometers southwest of the Mana Mill. Three Reverse Circulation (“RC”) drilling sections were carried out to date across this wide alteration zone with each section returning wide, significant grade intervals such as 2.27 g/t Au across 54 meters (hole MRC10-540 - section 15450N), 2.00 g/t Au across 20 meters (hole MRC10-542 – section 15450N), 1.37 g/t Au across 16 meters (hole MRC10-514 – section 15650N), 4.59 g/t Au (10.73 g/t Au uncut) across 10 meters (hole MRC10-526 – section 15850N), and 1.10 g/t Au across 88 meters (hole MRC10-529 – section 15850N).

“The new Yaho discovery shows outstanding widths, surpassing those originally obtained at Wona,” stated Michel Crevier, SEMAFO’s Geology Manager and Qualified Person. “It is also consistent with our current interpretation. Located near a regional fold hinge, the Yaho zone demonstrates that the fold hinges could represent an ideal structural environment for gold deposition, as observed at some world-class deposits elsewhere in West Africa and around the world.”

A follow-up program on the Yaho zone is currently in progress in order to trace its extensions both north and south of the discovery area. We will subsequently perform a delineation program in order to establish its true economic potential.

"This new discovery is extremely strategic and timely. It will complement the Fofina - Fobiri discovery in our analysis of production alternatives, which is scheduled to take place at year end,” said Benoit Desormeaux, SEMAFO’s Executive Vice-President and Chief Operating Officer. “This new discovery has the potential to rapidly add significant quantities of ore on the southern part of the Mana property."

The three RC sections were completed in late 2010, as a follow-up to auger drilling anomalies. Results from these sections were received in January and February 2011 and therefore have not yet been included to our December 31, 2010 reserves and resources estimate. The sections are 200 meters apart and each one has returned significant grades over large widths. The best results so far, come from section 15450N, the southern-most section drilled to date. Moreover, holes MRC10-499 and MRC10-540 ended in mineralization, therefore leading us to believe that the reported mineralization will most likely be wider. Figure 1 presents a plan view of the discovery and its relationship with current geological data, while Figure 2 illustrates a cross-section looking north.

The Yaho zone appears to follows a lithological contact between mafic volcanic flows and a sequence of interbedded graphitic sediments and intermediate tuffs. A wide zone of alteration, measuring up to 80 meters thick and dipping moderately to the west, hosts the mineralization (Figure 2). It consists of sericite-silica alteration coupled with pyrite-arsenopyrite mineralization, similar to what is observed at Wona. In fact, based on current geological and geophysical data, the Yaho host stratigraphy appears to continue north before turning northeast towards the Wona host stratigraphy (Figure 1).

For RC and AC drilling, all individual samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximately 2-kilogram subsample, which is sent for preparation and gold assaying at the ALS Chemex laboratories in Ouagadougou, Burkina Faso. Each sample (RC and AC) is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Chemex laboratories. In addition to ALS Chemex’s own QA/QC (Quality Assurance/Quality Control) program, an internal quality control and quality assurance program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Figure 1 (click to enlarge)

Figure 2 (click to enlarge)

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 “could”, “follow-up”, “subsequently”, “potential”, “add”, “evolve”, “become”, “pursuing”, “growth” 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 of the Yaho zone to demonstrate that the regional fold hinges represent an ideal structural environment for gold deposition, our ability to perform a delineation program in order to establish the Yaho zone’s true economic potential, the ability of this new discovery to rapidly add significant quantities of ore on the southern part of the Mana property, 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 2009 Annual MD&A, as updated in the 2010 First Quarter MD&A, 2010 Second Quarter MD&A and 2010 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.

For more information contact:

SEMAFO

Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO to Release 2010 Fourth Quarter and Year-End Financial Results on March 16, 2011 Conference Call Scheduled for March 17, 2011

2011-03-07

Montreal, Quebec, March 7, 2011 – SEMAFO (TSX: SMF) today announced that the Company's fourth quarter and year-end financial and operational results for the period ended December 31, 2010 will be released on Wednesday, March 16, 2011 after market close. The financial statements will be available on the Company's website at www.semafo.com or at www.sedar.com.

SEMAFO will host a conference call to discuss the results, as well as to provide an update on operations.

Date: Thursday, March 17, 2011
Time: 10:00 AM (ET)
Tel. local & overseas: 416 641-6699
Tel. North America: 1 888 223-4512

The conference call will feature Benoit La Salle, President and Chief Executive Officer, Benoit Desormeaux, Executive Vice-President and Chief Operating Officer, Martin Milette, Chief Financial Officer, Michel Crevier, SEMAFO’s Geology Manager and Qualified Person, and Patrick Moryoussef, Mining Operations Manager.

The conference call will be archived for replay until April 7, 2011. To access the archived conference call, please dial 1 800 558-5253 and enter pass code 21512810 followed by the number sign (#).

A live audio webcast of the conference can be accessed through SEMAFO’s website at www.semafo.com. The webcast will be available for replay for a period of 90 days.

For more information contact:

SEMAFO

Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO’s Total Reserves and M&I Resources Top 6.0 Million Ounces, Inferred Resources of 3.5 Million Ounces Mana Reserves Increase 180% Year Over Year

2011-02-28

Montreal, Quebec, February 28, 2011 – SEMAFO (TSX – SMF) today announced that as at December 31, 2010, SEMAFO’s proven and probable mineral reserves increased by 90% to 36,147,800 tonnes at an average grade of 2.43 g/t Au for 2,817,300 ounces compared to 1,485,900 ounces in December 2009. SEMAFO’s total measured and indicated resources, including reserves, attained 6 million ounces, compared to 5 million ounces the year prior. Inferred resources increased by 108%, to 55,286,300 tonnes at 1.94 g/t Au for 3,459,400 ounces compared to 1,663,800 last year.

Mana, Burkina Faso

Mana’s proven and probable reserves increased by 180%. Taking into account the 205,875 ounces mined during the year, our reserves totaled 25,468,000 tonnes at an average grade of 2.64 g/t Au for 2,159,700 ounces as at December 31, 2010, compared to 769,700 ounces in December 2009. As at December 31, 2010, Mana’s underground project contained mineral reserves totaling 13,198,000 tonnes at 2.74 g/t Au for 1,163,700 ounces. Measured and indicated resources (“M&I”) totaled 23,662,700 tonnes at 1.5 g/t Au, for 1,126,000 ounces, compared to 1,581,900 in December 2009. Mana’s inferred resources rose 195% year over year to 36,466,300 tonnes at 2.28 g/t Au for 2,678,000 ounces from 909,100 ounces, due in large part to the new Fofina-Fobiri zones. The Wona-Kona zone hosts 17,872,300 tonnes at 2.02 g/t Au, for 1,158,800 ounces in the inferred resources category and remains open.

The systematic exploration program at Mana that began with a geophysical survey followed by auger drilling geochemical programs enabled the identification of new targets. The Fofina-Fobiri area was selected for more extensive work such as Air Core (“AC”), reverse circulation (“RC”) and diamond (“core”) drilling, which led to the discovery of new zones: Fofina, Fofina V1 to V7, and Fobiri FOB1, FOB2 and FOB3. Thus far, the area’s mineralization aggregates 17,932,200 tonnes at 2.5 g/t Au, for 1,443,300 ounces in the inferred category. Geological work over the area has enhanced our understanding of the metallogenic context that not only opens two extensions of the zones, but other potential lodes such as fold hinges as well.

At Mana, the 2010 exploration program included 11,342 holes representing 78,795 meters of auger drilling, 1,076 holes of AC drilling for 44,513 meters, 556 holes of RC drilling for 82,931 meters and 110 holes of core drilling for 44,880 meters for follow-up exploration to ore body delineation.

“The success of our 2010 exploration program is impressive and, more importantly, our new geological understanding of the property allows us to see Mana’s enormous potential, which is greater than anything that we had previously anticipated,” said Michel Crevier, SEMAFO’s Geology Manager and Qualified Person. “With our new 2011 expanded exploration budget at Mana, the future is promising.”

The 2011 Mana exploration program budget has been established at $30 million (refer to SEMAFO’s press release of January 27, 2011) with activities to include: an airborne geophysical survey, 60,000 meters of auger drilling, 50,000 meters of AC drilling, 130,000 meters of RC drilling and 69,000 meters of core drilling. Approximately $18 million and $12 million will be allocated to exploration and in-fill drilling respectively, with a portion of the activities to focus on the very promising Massala area where grab samples returned many high-grade values ranging up to 13.8 g/t Au.

Samira Hill, Niger

Samira Hill total reserves stand at 9,472,700 tonnes at 1.67 g/t Au, for 507,600 ounces, compared to 529,700 ounces in December 2009, representing a slight reduction of 4% or 21,900 ounces less than the 69,500 ounces of reserves mined in 2010. M&I resources increased by 10% to 29,024,400 tonnes at 1.51 g/t Au for 1,405,200 ounces, compared to 1,276,200 in 2009, mainly due to the new zones in the Boulon Jounga area.

The 2010 exploration program at Samira Hill consisted mainly of 379 holes for 37,216 meters of RC drilling in the Boulon Jounga area as well around Libiri in Libdorado NW, Libiri NW and Libiri SE.

The 2011 exploration budget for Samira Hill has been established at $5 million with activities to include 16,850 meters of auger drilling, 70,865 meters of combined AC and RC drilling.

Kiniero, Guinea

As a result of an absence of exploration at Kiniero in 2010, reserves and resources broadly reflect the reduction in ounces mined. As at December 31, 2010, mineral reserves and resources totaled 11,117.400 tonnes at an average grade of 2.21 g/t Au for 790,200 ounces, compared to 829,800 ounces in December 2009.

Kiniero’s 2011 exploration budget has been established at $4 million and is scheduled to include 27,200 meters of RC and 4,000 meters of core drilling.

Reserves and resources were estimated using a gold price of $1,100 per ounce.

The mineral reserves and resources were estimated as at December 31, 2010 in accordance with the definitions adopted by the Canadian Institute of Mining Metallurgy and Petroleum and incorporate into National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101). Mineral reserves and resources estimates for the Mana Mine were carried out by Met-Chem Canada Inc. (reserves) and SGS Geostat Ltd (resources), under the direction of Michel Crevier P.Geo MScA, Geology Manager and SEMAFO’s Qualified Person who has reviewed this press release for accuracy and compliance. A technical report, prepared in accordance with the provisions of National Instrument 43-101 will be filed within 45 days of this press release.

For more information contact:

SEMAFO

Benoit La Salle, FCA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO to Augment Mana Plant Capacity Throughput to Attain Up to 8,000 Tonnes Per Day in Blended Ore

2011-02-08

Montreal, Quebec, February 8, 2011 – SEMAFO (TSX: SMF) today announced a fourth phase of plant expansion at its Mana Mine in Burkina Faso. As a result, plant capacity is expected to attain up to 7,200 tonnes per day (“tpd”) in bedrock and up to 8,000 tpd in blended ore. Completion of phase four will increase throughput by 1,200 tpd, representing an additional 26,000 to 30,000 ounces of gold annually when compared to current plant capacity.

The primary changes to the processing plant include:

Addition of a pebble crusher

Utilization of the third ball mill, previously used as back-up

Addition of two CIL tanks

Addition of a thickener

Additional gensets

Critical spares

Some equipment capacity upgrades

The budget for this fourth phase of plant expansion is $25 million, including $18 million for enhancements to the plant and $7 million for additional mining equipment.

“This fourth phase of plant expansion is scheduled for commissioning by year-end and has an estimated payback period of less than 16 months,” said Benoit Desormeaux, SEMAFO’s Executive Vice-President and Chief Operating Officer. “We expect to carry out the plant modifications with little or no disruption to our day-to-day operations as was the case with our recently-completed plant expansion project, which we accomplished on time and on budget.”

SEMAFO launched this new phase of plant expansion in consideration of the potential underground operation, continued growth in reserves and resources in the vicinity of the plant, as well as the excellent exploration results suggestive of the surrounding area’s superior potential.

In 2010 the Mana Mine produced 179,700 ounces of gold. Production guidance for 2011 has been established at between 170,000 and 190,000 ounces of gold.

Mana’s 2010 production number is preliminary and subject to final adjustment.

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 “to augment”, “to attain”, “expected”, “up to”, “will”, “increase”, “scheduled”, “estimated”, “carry out”, “growth”, “evolve”, “become”, “pursuing” 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 attain throughput 8,000 tonnes per day in blended ore, the ability of plant capacity to attain up to 7,200 tonnes per day in bedrock and up to 8,000 tonnes per day in blended ore, the ability of phase four to increase throughput by 1,200 tonnes per day or 26,000 to 30,000 ounces of gold when compared to current plant capacity, the ability to commission the plant expansion by year-end, the ability to have a payback period of less than 16 months, the ability to carry out plant modifications with little or no disruption to our day-to-day operations, on time and on budget,, 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 2009 Annual MD&A, as updated by our 2010 First Quarter MD&A, 2010 Second Quarter MD&A and 2010 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.

For more information contact:

SEMAFO

Benoit La Salle, CA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO’s Fobiri Area Returns Mineralization Over 1.4 Kilometers at Mana Values of Up to 2.66 g/t Au Over 22 Meters - Zones Remain Open to the Southwest and at Depth

2011-02-01

Montreal, Quebec, February 1, 2011 – SEMAFO (TSX: SMF) today announced the results of preliminary systematic follow-up drilling carried out on the Fobiri zones, located 14 kilometers southwest of the Mana Mill in Burkina Faso. A series of sections using a 200-meter spacing grid were completed over the original discovery (reference: SEMAFO’s press release dated August 3, 2010). Reverse-circulation (“RC”) and core drilling has returned continuous mineralization from three separate zones, 150 meters apart and over a strike length of more than 1,400 meters. Values obtained include 2.66 g/t Au over 22 meters (hole MRC10-383 - Zone FOB3), 2.75 g/t Au over 12 meters (hole WDC-259 - Zone FOB3), 1.84 g/t Au over 36 meters (MRC10-312 - Zone FOB2), 2.78 g/t Au over 8 meters (MRC10-382 - Zone FOB1), and 2.44 g/t Au over 10 meters (WDC259 - Zone FOB2). In addition, the three zones remain open and unexplored towards the southwest where previous auger drilling produced anomalous results.

Follow-up drilling over the Fobiri discovery commenced in August and was completed in December 2010. Although assay results remain pending on one northeast section (drill holes WDC261 and WDC263), the results thus far clearly show a series of three parallel zones trending northeast and dipping steeply towards the northwest. Highlights from the three zones (FOB1, FOB2, and FOB3) are presented in the table below.

The short distance between the zones, their significant strike length, consistent good widths, and good continuity are all factors which will enhance the economic potential in this area. The Fofina and Fobiri areas along with the area surrounding the Nyafé open pit represented a major target in our 2010 exploration program and our litho-structural understanding has developed significantly since (Figure 1). Based on recent drilling and a ground IP survey (reference: SEMAFO’s press release dated January 18, 2011), the Fobiri and Fofina zones appear to be located along the limbs of a fold at contact between intermediate to felsic tuffs with fine sediments, locally graphitic. These units are underlain and overlain by massive basalts found at the core of the folds. The Fobiri mineralized corridor seems to continue to the northeast towards the Nyafé Deposit, suggesting that the mineralization is post-folding and controlled by deformation and hydrothermal alteration which has followed rheological weaknesses along the folded stratigraphy. Based on this interpretation, the area near the fold hinge towards the southwest of both the Fobiri and Fofina zones represent excellent exploration targets for the 2011 program.

Following the press release on the Fofina Zone dated December 2, 2010, a series of RC and core holes were added to confirm the new interpretation of the Fofina and V zones. The new drilling crossed the different zones where expected and highlights from this short program are presented below.

Core hole WDC258 is considered very promising as it represents the south western most cut along the Fofina to date and therefore suggests additional potential in this direction.

“The 2010 Exploration Program was very successful and is expected to add significant mineral resources to the property” states Michel Crevier, SEMAFO’s Geology Manager. “We have brought the Fofina-Fobiri area from a conceptual greenfield target to a major discovery area within one year. Our 2011 exploration activities will include a systematic delineation program on both zones in order to upgrade their confidence in order to increase our measured and indicated resources and ultimately bring new reserves at Mana.”

The exploration programs were designed and managed locally by Dofinta Bondé and David Lalonde, Mana Mineral’s Exploration Chief Geologists and Richard Roy P Geo, Deputy Geology Manager, and guided and supervised under the direction of Michel Crevier, P.Geo MScA, Geology Manager and SEMAFO’s Qualified Person who has reviewed this press release for accuracy and compliance with National Instrument 43-101.

For core drilling, all individual samples represent approximately one-meter in length of core which was sawed 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. For RC and AC 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. Each sample (core, RC, and AC) is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Chemex laboratories. In addition to ALS Chemex’s own QA/QC (Quality Assurance/Quality Control) program, an internal quality control and quality assurance program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Figure 1 (Click to enlarge)

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 “pending”, “will”, “enhance”, “appear”, “seems”, “suggesting”, “promising”, “additional”, “potential”, “expected”, “add”, “increase”, “ultimately”, “committed”, “evolve”, “become”, “pursuing”, “growth” 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 of the short distance between zones FOB1, FOB2 and FOB3, their significant strike length, consistent good widths, and good continuity to enhance the economic potential in this area, the ability of core hole WDC258 to identify new potential south west of Fofina, the ability of our 2011 exploration activities to increase our measured and indicated reserves and ultimately bring new reserves at Mana, 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 2009 Annual MD&A, as updated in our 2010 First Quarter MD&A, 2010 Second Quarter MD&A and 2010 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.

For more information contact:

SEMAFO

Benoit La Salle, CA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Provides 2011 Outlook SEMAFO to Invest $39 Million in Exploration, Including $30 Million at Mana

2011-01-27

Montreal, Quebec, January 27, 2011 – SEMAFO (TSX: SMF) today provided its 2011 guidance and announced the establishment of a $39-million exploration budget, including $30 million for the Mana property in Burkina Faso.

“The Mana property continues to deliver excellent exploration results,” said Michel Crevier, SEMAFO’s Geology Manager. “Our expanded exploration program will focus on previously established priority targets including the Fofina-Fobiri, Kona, Massala and Saoura areas. We will also drill on select areas based on our interpretation of the magnetic and induced polarization survey results.”

Mana exploration activities in 2011 are set to include:
• 69,000 meters of core drilling, including 6,000 meters over deep targets
• 130,000 meters of reverse-circulation (“RC”) drilling: 57,000 meters over the Kona and Fofina-Fobiri areas
• 50,000 meters of air core drilling

In the first quarter SEMAFO is scheduled to release the results of its feasibility study of the Wona underground project, as well as a full 43-101 report on the reserves and resources of the Mana property.

Exploration at the Samira Hill Mine in Niger will focus primarily on the identification of new oxide deposits. Air core and RC drilling is to be carried out over the Boulon Jounga, Libiri, Sikia, Tondé Babangou, Gare Garé and Bouli areas. At the Kiniero Mine in Guinea, core and RC drilling will be carried out mainly over the Secteur Gobelé A, Ouest-Balan D and E areas.

“Following the positive 2010 exploration results and recognizing that we have explored but a small fraction of the properties, we are pleased to announce a record $39-million exploration budget for our three projects in 2011,” said Benoit Desormeaux, Executive Vice-President and Chief Operating Officer. “The exploration programs include extensive infill and step-out drilling to maximize resources development. These aggressive drill campaigns further emphasize the Company’s strategic commitment to organic growth.”

2011 Outlook and Material Assumptions
For 2011, we anticipate production to remain similar to 2010 levels and our production guidance for the year is between 238,000 and 263,000 ounces of gold at a cash operating cost of between $540 and $580 per ounce. Production from our Mana Mine will constitute more than 72% of our total ounces produced in 2011. Mana’s annual guidance has been set at between 170,000 and 190,000 ounces of gold at a cash operating cost of between $425 and $465 per ounce. Overall production growth will be constrained by conditions at our Samira Hill Mine, where for the first two quarters we will be processing transitional and lower grade ore as we carry out a pit wall pushback. We expect the pushback to be completed in the Samira Main pit by mid-year.

A number of assumptions were made in preparing the 2011 forecast in this press release, including:
• $0.92 per liter or $95 per barrel of oil
• Canadian/US dollar exchange rate at par
• Social and political stability in Africa
• Continued stable production at the Company’s three mines

“Our team is committed to maintaining solid performance levels in 2011,” said Benoit La Salle, SEMAFO’s President and Chief Executive Officer. “We will focus on strengthening our position as an important West African gold producer and ensuring our ability to deliver sustainable growth.”

SEMAFO will release its fourth quarter and 2010 year-end financial results on or about March 16, 2011. The Company will also host a conference call to discuss the results, the details of which will be announced at a later date.

All amounts are in US dollars unless otherwise indicated. “Cash operating cost” is a measure that is not recognized under Canadian Generally Accepted Accounting Principles (GAAP). This data may not be comparable to data presented by other gold producers.

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 “outlook”, “guidance”, “continues”, “will”, “set to include”, “scheduled”, “to be”, “maximize”, “commitment”, “anticipate”, “similar”, “expect”, “maintaining”, “strengthening”, “ensuring”, “deliver”, “sustainable”, “growth”, “evolve”, “become”, “pursuing” 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 39$ million exploration program in 2011, the ability to release in the first quarter our feasibility study on the Wona underground project as well as a full 43-101 report on the reserves and resources of the Mana property, the ability of our exploration program at Samira Hill Mine to identify new oxide deposits, the ability of the extensive infill and step-out drilling to maximize resources development, the ability to meet our 2011 production and cash operating cost guidance, the ability to deliver sustainable growth, 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 2009 Annual MD&A, as updated by our 2010 First Quarter MD&A, 2010 Second Quarter MD&A and 2010 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.

For more information contact:

SEMAFO

Benoit La Salle, CA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Explores Possible Dual Listing in Europe

2011-01-20

Montreal, Quebec, January 20, 2011 – SEMAFO (TSX: SMF) today announced that it is exploring the possibility of a dual listing of its common shares on the NASDAQ OMX Stockholm exchange in Sweden.

“We have experienced significant growth in the past years,” said Benoit La Salle, SEMAFO’s President and Chief Executive Officer. ”A dual listing on the NASDAQ OMX Stockholm would facilitate the participation of European investors seeking exposure to SEMAFO and to the West African gold sector.”

Erik Penser Bankaktiebolag has been appointed financial adviser and Mannheimer Swartling has been appointed Swedish legal adviser for the possible listing process.

For more information contact:

SEMAFO

Benoit La Salle, CA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO’s Geophysical Surveys Add New Prospective Targets at Mana Airborne Magnetic and Ground IP Surveys Refine 2011 Exploration Targets Receipt of Bombouela Nord Permit

2011-01-18

Montreal, Quebec, January 18, 2011 – SEMAFO (TSX: SMF) announced completion of a 985-km² magnetic survey across most peripheral groups of permits and an extensive induced polarization (“IP”) survey over the Nyafé-Fofina area at its flagship Mana Mine in Burkina Faso.

The integration of the new airborne magnetic survey with the 2009 survey previously completed across the central permits reveals prospective magnetic trends over most of the new permits. This area includes the Massala and Saoura blocks where high-grade grab sample values ranging up to 13.8 g/t Au were obtained coincident with some of the trends observed. The IP survey over the Nyafé-Fofina area reveals new key structural information which will guide the 2011 program in this area.

The ultra high-resolution low elevation helicopter-borne magnetic geophysical survey virtually doubles our magnetic coverage in the area. Important magnetic trends reminiscent of the Wona Trend (Figure 1) are observed within the newly covered areas. At our recently acquired permit site, Bombouela Nord, Trend 1 seems to represent the north extension of the Wona Trend, while at Mana East we identified a new trend which merits further investigation.

The Massala and Saoura permits located immediately north of the central group of permits covers a 15-kilometer long gold-bearing volcanosedimentary unit, which demonstrates similarities to the Wona host rocks. Extensive old artisanal mining activity is evident at various localitions within the Massala and Saoura areas. In addition, SEMAFO grab sampling completed along a 12-kilometer section of the more extensive corridor returned many high-grade values ranging up to 13.8 g/t Au. The new survey clearly shows the continuation of the Oula Trend on to the Massala and Saoura areas, while two other trends (Massala-Saoura Trend 1 and Massala-Saoura Trend 2) were also identified. Historical gold values associated with these trends highlight their potential to host gold deposits. The 2011 exploration program will focus on the priority trends identified herein through our systematic approach that has proven successful in 2010, particularly in the Fofina and Fobiri areas.

Although the magnetic survey only shows subtle trends associated with the Nyafé Deposit and the Fofina-Fobiri Zones, ground IP surveying provides additional geophysical information that supports the structural and lithological environment within the Fofina-Fobiri area. The rocks in the Fofina-Fobiri area show zones of variable resistivity and chargeability that appear to suggest open folding of the different lithologies (Figure 2). The Fofina Zone and associated V Zones appear to be located near the hinge of one fold, while the Fobiri and Nyafé Zones are related to their flanks. The Fofina Zone is more precisely located within a distinct resistive zone within the broad chargeable zone. Other anomalies of this type have been identified near the fold hinges. The fold hinges as such remain untested by either drilling or auger sampling and are devoid of outcrops. These areas are favorable structural traps for hydrothermal fluids and hence gold mineralization. The 2011 exploration program will include auger drilling over the fold hinges and subsequent drill testing.

“The new geophysical data will help bring our understanding of the structural and geological environment to a new level,” stated Michel Crevier, SEMAFO’s Geology Manager. “We already foresee new targets developing based on these survey results and expect the upcoming HELITEM survey to contribute even more. Coupled with the extensive 2010 drill program information, the exploration crew is now focused on refining the interpretation and establishing what should become an exciting 2011 program for SEMAFO at Mana.”

The 302-km² airborne HELITEM electromagnetic (“EM”) survey over part of the central Mana group of properties is expected to commence during Q1 2011.

SEMAFO is also pleased to report that it has been granted the new Bombouela Nord permit, which is continuous and to the north of the current group of permits (Figure 1). The Bombouela Nord permit covers an additional 115 square kilometers of favorable Hounde greenstone rocks.

Figure 1 (Click to enlarge)

Figure 2 (Click to enlarge)

For more information contact:

SEMAFO

Benoit La Salle, CA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Delivers Record Gold Production in 2010 Exceeds Guidance with Gold Production of 261,100 Ounces

2011-01-11

Montreal, Quebec, January 11, 2011 – SEMAFO (TSX: SMF) today provided a summary of its 2010 operating results. Effective operations at the Company’s Mana Mine spearheaded a new annual production record of 261,100 ounces of gold in 2010, representing an increase of 8% over 2009.

Gold production totaling 261,100 ounces exceeded the upper end of the Company’s annual guidance of between 235,000 and 260,000 ounces and the cash operating cost is anticipated to be in line with the Company’s guidance of between $485 and $520 per ounce.

“Gold sales for 2010 totaled $323,275,000. The average realized gold price for the fourth quarter was $1,391 per ounce or $24 per ounce above the London Gold Fix (PM) and the average realized gold price for the year was $1,240 per ounce or $15 per ounce above the London Gold Fix (PM),” said Benoit La Salle, SEMAFO’s President and Chief Executive Officer. “SEMAFO’s average realized gold price has surpassed the average London Gold Fix (PM) for eight consecutive quarters.”

“Operationally, we continue to demonstrate our ability to deliver by repeatedly meeting and exceeding production guidance,” said Benoit Desormeaux, SEMAFO’s Executive Vice-President and COO.

The Mana Mine’s production of 179,700 ounces of gold surpassed expectation. Moving forward, we anticipate that Mana will continue to be the cornerstone of our operations and remain optimistic about its potential to become a mining district.

"In 2010, we delivered another solid performance both operationally and financially,” added Benoit La Salle, “We believe that SEMAFO is well-positioned for the future. As an integral part of our organic growth strategy, we will continue to actively pursue opportunities to optimize our operations through ongoing aggressive exploration programs.”

Production numbers are preliminary and are subject to final adjustment. All amounts are in US dollars unless otherwise indicated.

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 “anticipated”, “moving forward”, “will continue”, “optimistic”, “evolve”, “become”, “pursuing” 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 final adjustments to our production numbers, the ability of our 2010 cash operating cost to be in line with the Company’s guidance of between $485 and $520 per ounce, the accuracy of current economic forecasts for gold, the ability of Mana to become a mining district, 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 2009 Annual MD&A, as updated by our 2010 First Quarter MD&A, 2010 Second Quarter MD&A and 2010 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.

For more information contact:

SEMAFO

Benoit La Salle, CA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Successfully Completes Phase III of Mana Plant Expansion Burkina Faso Tax Assessment Update

2010-12-09

Montreal, Quebec, December 9, 2010 – SEMAFO (TSX: SMF) today announced that Phase III of the plant expansion program at its Mana Mine in Burkina Faso has been completed ahead of schedule and under budget.

The third phase of the plant expansion is aimed at optimizing gold recovery. The addition of two CIL tanks extends the leach time in order to accommodate increased throughput of up to 6,000 tonnes per day in hard rock.

Commenting on the milestone, Benoit Desormeaux, SEMAFO’s Executive Vice-President and Chief Operating Officer said, “We are pleased with the timely and effective conclusion of this third phase of our plant expansion at Mana. The construction and commissioning of all three phases of the plant expansion were efficiently scheduled and executed with little or no impact on our ongoing operations.”

SEMAFO received confirmation that Burkina Faso tax authorities have dismissed the 2007-2008 tax assessment and penalties issued to the Company in the first quarter of 2010. SEMAFO will pay a total of $700,000 in lieu of the original amounts which were previously disclosed in the Company’s 2010 first, second and third quarter MD&As. The amount owing will be paid out and recorded in the fourth quarter 2010, bringing this matter to a close for all parties.

For more information contact:

SEMAFO

Benoit La Salle, CA
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO: Mana’s Fofina Area Continues to Return High Grades Initial Testing on V Zones Returns 21.62 g/t Au (43.11 g/t Au Uncut) Over 5 Meters and 2.72 g/t Au over 27.2 Meters (including 9.82 g/t Au over 6 meters)

2010-12-02

Montreal, Quebec, December 2, 2010 – SEMAFO (TSX: SMF) today announced the results of preliminary follow-up core drilling on the new Fofina area located 12.5 kilometers south of SEMAFO’s Mana Mill, and presents an update on the ongoing regional exploration program. Core drilling results show good grades from the V zones (V1 to V4) with values of up to 21.62 g/t Au (43.11 g/t Au uncut) over 5 meters and 2.72 g/t Au over 27.2 meters (including 9.82 g/t Au over 6 meters). In addition, reverse circulation (“RC”) and air core (“AC”) drilling over the Fobiri and Fofina blocks continues to produce significant results including 11.43 g/t Au over 2 meters, 1.26 g/t Au over 15 meters and 3.99 g/t Au over 4 meters.

Subsequent to results communicated in SEMAFO’s press release dated August 3, 2010, a core drilling program was initiated on the Fofina area including the V zones to observe the mineralization styles for further outline. In addition, a series of 200-meter-spaced RC drilling lines extending over the most promising gold-bearing zones are currently in progress in order to determine the orientation and grade continuity of the near-surface mineralization. Meanwhile, the ongoing AC drilling program continues to explore untested auger drilling anomalies. A total of 17 regional core drill holes (5,521 meters), 289 RC drill holes (42,285 meters), and 466 AC drill holes (17,362 meters) have been completed this year over the Fofina, Fobiri and Y1 areas. Assays remain pending for approximately 30% of the samples collected.

At Fofina, 5 DDH sections located between100 and 150 meters apart (Figure 1) were completed over both the Fofina and the V zones (V1 to V3). The holes were oriented towards the south to cross the northeast trending main Fofina zone but also cut the V zones, which were believed to trend virtually east-west. Testing of the V structures shows that the zones are characterized by shallow dipping quartz-pyrite-arsenopyrite stringer zones, often associated with variably intense sericite alteration within massive volcanic rocks. Information gathered from this drilling now suggests that the V Zones are virtually parallel to the Fofina, with the difference between the two related principally to the host rock as opposed to the geometry. The V zones show frequent significant pinch and swell, similar to what we have observed at Nyafe. Nonetheless, high grade values were obtained on a regular basis in most of the 11 holes drilled (results from hole WDC-258 remain pending) as demonstrated by hole WDC-242 (21.90 g/t Au over 1 meter), WDC-244 (21.63 g/t Au over 5 meters – 43.11 g/t Au uncut), and WDC-251 (9.99 g/t Au over 1 meter). Major swelling of the mineralization was observed in holes WDC-246 (1.38 g/t Au over 26 meters), WDC-247 (2.72 g/t Au over 27.2 meters) and WDC-251 (1.17 g/t Au over 21 meters) and sometimes includes higher grade intervals such as in WDC-247 (9.82 g/t Au over 6 meters).

The reinterpretation of the V zones suggests that the system consists of four main mineralized trends (Fofina, V1, V2 and V3) with some intermediate parallel zones, particularly between the V1 and V2 zones (V1 FW). Although there is an occurrence of pinch-and-swell, the V3 Zone hosts an area of good width and grade over a strike length of more than 250 meters and remains open to the southwest (Figure 1). The intersections of holes WDC-244 and WDC-247 are interpreted as being part of a previously reported structure and proximal to holes MRC10-68 (10.32 g/t Au across 12 meters – 17.21 g/t Au uncut), MRC10-70 (10.84 g/t Au over 9 meters) and MRC10-67 (7.01 g/t Au over 4 meters) (Reference: SEMAFO’s press release dated June 17, 2010).

The strength and width of the deformation zone continues to be present over the Fofina Zone. Its trend however, is now interpreted to be more north-northeast than northeast with a shallower dip, which resulted in only three holes crossing the structure including WDC-259 for which assays remain pending. Hole WDC-236 crossed the wide structure but in saprolite, and gold grades were low, returning 0.28 g/t Au across 31.5 meters. The core program provided a better understanding of the stratigraphy that hosts the zones. The sediment-volcanoclastic package hosting the Fofina-V1 corridor is now observed on all sections drilled as opposed to what was originally believed. The stratigraphy appears fairly continuous across the area and therefore the rheological constraints most probably remained consistent, which is more favourable for lateral extension than discontinuous stratigraphic environments.

Ongoing regional exploration RC drilling is progressing well with three rigs completing systematic lines laterally along the most favourable gold-bearing intervals identified from prior RC or AC drilling results (Figure 2). Among these, the Fobiri 1 Zone has returned good widths of mineralization, including hole MRC10-273 (1.26 g/t Au over 15 meters). In addition, a second area located 1.2 kilometers southwest of the Nyafe Pit has returned several interesting results which will require additional follow-up including MRC10-267 (4.14 g/t Au across 2 meters). A third area located 2.2 kilometers north of the Fofina Zone is also producing interesting results such as in holes MRC10-243, MRC10-245, and MRC10-246.

The AC exploration program designed to test auger anomalies continues to produce significant intersections within the Fofina and Fobiri areas. High grade values over narrow widths were obtained, including hole MAC10-513 (11.43 g/t Au over 2 meters) and MAC10-299 (14.60 g/t Au over 1 meter). Both intersections are located immediately to the northwest of the Nyafe Pit (Figure 2). Also of interest are two wider zones emanating from two contiguous AC holes (MAC10-368 and MAC10-369) which returned 3.99 g/t Au over 4 meters and 1.19 g/t Au over 5 meters. These zones are located 1.6 kilometers along strike of the Fobiri 1 Zone, possibly representing its extension, and seem along strike of the H Zone. Intermediate lines will be extended in order to test this hypothesis.

The first phase of systematic RC drilling is expected to terminate before the end of the year. The new interpretation of the V zones will generate additional targets to be further investigated as part of our Phase II exploration program, scheduled to commence in Q4 2010 and continuing well into 2011. Finally, the AC program has commenced on the Y1 Block, located along strike and to the southwest of the Wona Zone to test newly identified auger anomalies. Further targets will be integrated into the program as auger drilling progresses.

For core drilling, all individual samples represent approximately one-meter in length of core which was sawed 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 Minerals laboratories in Ouagadougou, Burkina Faso. For RC and AC 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 Minerals laboratories in Ouagadougou, Burkina Faso. Each sample (core, RC, and AC) is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Minerals laboratories. In addition to ALS Chemex’s own QA/QC (Quality Assurance/Quality Control) program, an internal quality control and quality assurance program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Figure 1 (click to enlarge)

Figure 2 (click to enlarge)

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 “continues”, “further”, “in addition”, “extending”, “currently”, “in progress”, “pending”, “suggests”, “progressing”, “designed”, “will be”, “extended”, “expected”, “evolve”, “become”, “pursuing”, “growth” 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 of the core drilling program initiated on the Fofina area to observe the mineralization styles for further outline, the ability of the series of 200-meter-spaced RC drilling lines to determine the orientation and grade continuity of the near-surface mineralization, the ability of the rheological constraints to remain consistent, the ability of AC holes (MAC10-368 and MAC10-369) to represent the extension of the Fobiri 1 Zone, 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 2009 Annual MD&A, as updated in the 2010 First Quarter MD&A, 2010 Second Quarter MD&A and 2010 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.

For more information contact:

SEMAFO

Benoit La Salle
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Reports Third Quarter 2010 Operating Income of $38.6 Million Operating Income Increases by 154% - Margins Up 61% Net Income Increases 115% and Cash Flow Up 65%

2010-11-10

Montreal, Quebec, November 10, 2010 – SEMAFO (TSX: SMF) today announced its third quarter financial and operational results for the three-month period ended September 30, 2010. All amounts are in US dollars unless otherwise stated.

Third Quarter 2010 Highlights

In the third quarter 2010, SEMAFO produced 65,500 ounces of gold and achieved gold sales of $86.2 million, compared to gold production of 62,300 ounces and sales of $59.4 million for the corresponding period in 2009. Highlights for this third quarter include:

• Gold production of 65,500 ounces, a 5% increase year over year
• Record quarterly production at Mana of 46,400 ounces of gold
• Gold sales of $86.2 million, an increase of 45% year over year
• Cash operating cost of $454 per ounce, an improvement of 4% compared to $472 for the same period in 2009
• Operating income of $38.6 million, an increase of 154% year over year
• Net income of $28.8 million or $0.11 per share, a 115% improvement year over year
• Quarterly cash flow from operating activities of $40.0 million or $0.15 per share, a 65% increase year over year
• Continued exploration success at Mana
• Successful completion of Phase II of the Mana plant expansion
• Encouraging exploration results at Samira Hill

A Word from the CEO

SEMAFO is committed to deliver consistently strong operating results and the third quarter of 2010 was no exception. We continue to run our operations at maximum capacity, availing us the opportunity to benefit from an increasingly strong gold market. Our disciplined growth strategy continued to positively impact operations, resulting in an 8% improvement in gold production for the nine months ended September 30, 2010 over the corresponding period in 2009.

We achieved significant year-over-year increases for the third quarter: revenues improved by 45%, operating income increased 154%, net income rose by 115%, and earnings per share were up 120%. Our cash flow from operating activities surpassed third quarter 2009 results by 65%, while our cash operating cost per ounce produced decreased by 4%.

SEMAFO’s average realized gold price for the third quarter 2010 was $1,241 per ounce, $14 above the London Gold Fix and representing $31 over Q2 2010. As a result of our effective gold selling strategy, SEMAFO’s average realized gold price surpassed the average London Gold Fix for a seventh consecutive quarter.

During the quarter, we produced a record 46,400 ounces of gold at our flagship Mana Mine, representing 71% of our three-month production total. For the nine months ended September 30, 2010, Mana generated 67% of our total gold production.

Our investment in organic growth is gathering momentum. Earlier in the year, we announced an additional $9.0 million to fund ongoing exploration at Mana bringing the total 2010 Mana exploration budget to $18.2 million. The 2010 exploration program objectives include advancing early stage targets, further expanding the Wona Deep deposit and ultimately increasing reserves and resources. Results during the quarter included core drilling at Wona SW, which confirmed high grade mineralization with values of up to 7.32 g/t Au across 8.8 meters and 4.20 g/t Au over 32 meters.
The new Fofina Zone demonstrated good continuity with values of up 4.44 g/t Au over 23 meters and the Fobiri Zone returned significant drill intersections.

During the quarter, we increased liquidity and improved our total cash margin by 61% over the third quarter 2009. Our balance sheet is stronger than ever as our debt to equity ratio now stands at 4% compared to 17% for the corresponding period last year.

The third quarter is a testimony to our commitment to increase shareholder value through a disciplined growth strategy and by delivering on our promises. We are well positioned to continue to benefit from favorable gold prices as well as to deliver significant long-term value to our shareholders.

Consolidated Results and Mining Operations

SEMAFO’s Consolidated Financial Statements and Management's Discussion and Analysis and other relevant financial materials are available in the Investor Relations section of the Company's website at www.semafo.com. These and other Company reports are also available on the website maintained by the Canadian Securities Administrators at www.sedar.com.

Management remains confident that the Company will attain its 2010 production guidance of between 235,000 and 260,000 ounces of gold.

SEMAFO will host a conference call to discuss the results, as well as to provide an update on operations.

The conference call will feature Benoit La Salle, CA, President and Chief Executive Officer and Benoit Desormeaux, CA, Executive Vice-President and Chief Operating Officer.

The conference call will be archived for replay until December 3, 2010. To access the archived conference call, please dial 1 800 558-5253 and enter pass code 21484273 followed by the number sign (#).

A live audio webcast of the conference can be accessed through SEMAFO’s website at www.semafo.com. The webcast will be available for replay for a period of 90 days.

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 “growth”, “objectives”, “expanding”, “ultimately”, “increasing”, “continue”, “committed”, “evolve”, “become”, “pursuing” 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 the objectives of our 2010 exploration program, including advancing early stage targets, further expanding the Wona Deep deposit and ultimately increasing reserves and resources, the ability to meet our 2010 production guidance of between 235,000 and 260,000 ounces of gold, 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 2009 Annual MD&A and 2009 Annual Information Form, as updated in SEMAFO’s 2010 First Quarter MD&A, Second Quarter MD&A and 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.

For more information contact:

SEMAFO

Benoit La Salle
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Intersects 27.77 g/t Au Over 4 Meters at Samira Hill Encouraging Exploration Results for Potential New Pits

2010-10-14

Montreal, Quebec, October 14, 2010 – SEMAFO (TSX: SMF) today announced results of the 2010 exploration program at its Samira Hill Mine located in Niger, Africa. Phase II of the program, which commenced on July 9, 2010 is designed to test and define new proximal gold zones that can quickly become part of the near-term mine plan and has returned results including 27.77 g/t Au over four meters.

To date, 20,000 meters of the planned 41,000 meters of reverse-circulation (“RC”) drilling have been completed and partial assay results are available for three of the ten targeted areas scheduled to undergo testing.

Libdorado NW
The Libdorado NW program was designed to better define the new gold zone identified in phase I of the program (reference SEMAFO’s release dated March 8, 2010). The Libdorado NW Zone is characterized by narrow but high-grade quartz zones found in altered sediments and located immediately north of the Libiri Pit. Results continue to return high grade values. Although several more holes will be drilled later this year to refine the comprehension of some areas, the Libdorado NW zone is scheduled for definition drilling in 2011, prior to engineering and mining planning.

Figure 1 illustrates a longitudinal section of the main zone found at Libdorado NW, where late doleritic dykes cross the zone. Results suggest a shallow east plunge of the mineralization, where it reaches the north wall of the Libiri Pit.

Libiri SE
The area to the south of the Libiri Pit (Figure 2) contains many gold zones which were previously under defined. Current surface mapping and modelling has helped to provide a better understanding of the geometry of the mineralization and an extensive drilling program was designed to test the models. Results are very encouraging.

The second half of the program focused primarily on the Boulon Jounga area, located 10 kilometers northwest of the Samira processing plant. Boulon Jounga is host to the open pit of the same name and has accounted for a good portion of Samira Hill’s 2010 production. The ore from Boulon Jounga is characteristically above average grade. In addition, recoveries are generally higher than average within the saprolitic parts of the deposit. The deposit itself is compact and locally shallow dipping. As described in SEMAFO’s press release dated March 8, 2010, other Boulon Jounga type deposits have been identified to the east of the pit. Further drilling will be completed to test the extensions of these new zones along with other nearby areas where auger drilling has identified priority drill targets.

“We are pleased with the developments at Samira Hill in 2010. The exploration team at Samira is focusing on providing our operations team with readily available ore and accordingly, allowing for mine planning flexibility,” said Benoit Desormeaux Executive Vice-President and Chief Operating Officer. “This will enable the blending of different ore types and optimize the recoveries and throughput.”

The exploration programs were designed and managed locally by Aziz Amane, SML Exploration Chief Geologist and Richard Roy P Geo, Deputy Geology Manager, and guided and supervised under the direction of Michel Crevier, P.Geo MScA, Geology Manager and SEMAFO’s Qualified Person who has reviewed this press release for accuracy and compliance with National Instrument 43-101.

All individual samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximately 2-kilogram sub-sample, which is sent for preparation and gold assaying at the ALS Minerals laboratories in Ouagadougou, Burkina Faso. Each sample is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Minerals laboratory. In addition to ALS Minerals’ own QA/QC (Quality Assurance/Quality Control) program, an internal quality control and quality assurance program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Figure 1 (click to enlarge)

Figure 2 (click to enlarge)

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 “potential”, “planned”, “undergo”, “suggest”, “new”, “encouraging”, “further”, “generally”, “will”, “add”, “could”, “scheduled”, “continue”, “committed”, “evolve”, “become”, “pursuing”, “growth” 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 drill several more holes later this year, the ability to provide readily available ore and allow for mine planning flexibility, the ability to blend different ore types to optimize the recoveries and throughput, the 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 2009 Annual MD&A, as updated in our 2010 First Quarter MD&A and 2010 Second 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.

For more information contact:

SEMAFO

Benoit La Salle
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Produces 65,500 Ounces of Gold in Q3 2010 SEMAFO to Release Third Quarter 2010 Financial Results on November 10, 2010

2010-10-05

Montreal, Quebec, October 5, 2010 – SEMAFO (TSX: SMF) today announced that record gold production at the Company’s Mana Mine spearheaded another solid production performance of 65,500 ounces for the third quarter 2010, representing an increase of 5% over the same period last year.

“Our flagship Mana Mine continues to outperform. Efficient and effective operations have resulted in a new best ever quarterly production of 46,400 ounces of gold,” said Benoit Desormeaux, Executive Vice-President and Chief Operating Officer. “Mana accounted for 71% of SEMAFO’s total production for the three-month period ended September 30, 2010.”

“Our average realized gold price for the quarter was $1,241 per ounce, $14 per ounce above the London Gold Fix (PM),” said Benoit La Salle, SEMAFO’s President and Chief Executive Officer. “As a result of our successful gold selling strategy, SEMAFO’s average realized gold price surpassed the average London Gold Fix (PM) for a seventh consecutive quarter.”

The Company's third quarter results for the three-month period ended September 30, 2010 will be released after market close on Wednesday, November 10, 2010. The financial statements will be available on the Company's website at www.semafo.com or at www.sedar.com.

SEMAFO will host a conference call to discuss the results, as well as to provide an update on operations.

Conference Call:	Date:	Thursday, November 11, 2010
	Time:	10:00 AM (ET)
	Tel. local & overseas:	416 981- 9000
	Tel. North America:	1 800 750-5857

The conference call will feature Benoit La Salle, President and Chief Executive Officer, Benoit Desormeaux, Executive Vice-President and Chief Operating Officer, Martin Milette, Chief Financial Officer, Michel Crevier, SEMAFO’s Geology Manager and Qualified Person, and Patrick Moryoussef, Mining Operations Manager.

The conference call will be archived for replay until December 3, 2010. To access the archived conference call, please dial 1 (800) 558 5253 and enter pass code 21484273 followed by the number sign (#).

A live audio webcast of the conference can be accessed through SEMAFO’s website at www.semafo.com. The webcast will be available for replay for a period of 60 days.

Production numbers are preliminary and may be subject to final adjustment. Further information will be published in the Company’s third quarter operating and financial results to be released after market close on November 10, 2010.

For more information contact:

SEMAFO

Benoit La Salle
President & CEO
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 888 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Commences New Airborne Geophysical Survey at Mana Survey to Include Massala-Saoura Area with Grab Samples of Up to 13.8 g/t Au

2010-09-30

Montreal, Quebec, September 30, 2010 – SEMAFO (TSX: SMF) announced the commencement of two new airborne geophysical surveys at its Mana District in Burkina Faso. A 985-km² ultra high resolution low elevation helicopter borne magnetic survey will be carried out across most peripheral permitted properties and will virtually double our magnetic coverage in the area. We will also perform a 302-km² HELITEM Lite electromagnetic (“EM”) survey over part of the central Mana group of properties.

The magnetic survey will provide complete coverage of the extended group of permits located east, west, and north of the central block, surveyed in the third quarter 2009. The EM survey is designed to cover a large area in the southern half of the central group, including the Wona, Nyafé, and Fofina-Fobiri gold zones. The HELITEM Lite EM is a time-domain method designed to identify and map conductive zones such as graphitic horizons, which are vital gold bearing lithologies at both Wona and Fofina.

The 2009 survey effectively provided an excellent base targeting map for our systematic exploration program and subsequent discoveries, the Fofina, Fobiri, and other significant gold bearing structures. Extending the survey to other peripheral areas is expected to trace extents of potential trends, such as the Oula shear zone (Figure 1) as well as to provide similar base information to identify further exploration targets for 2011. Albeit much less explored, it is believed that the peripheral areas host exciting gold mineralization based on historical work. For example, the Massala and Saoura permits located immediately north of the central group covers a more than 15-km long gold-bearing volcanosedimentary corridor, which demonstrate similarities to the Wona host rocks. Evidence of extensive old artisanal mining has been observed at some localities within the Massala and Saoura areas. In addition, SEMAFO grab sampling completed since 2005 along a 12 kilometer section of the more extensive corridor, returned many high grade values up to 13.8 g/t Au (Figure 1). The magnetic survey is expected to better establish the structural and geological context underlying the gold anomalies in the same way as the 2009 airborne survey provided a regional image of the Wona volcanosedimentary corridor.

The HELITEM Lite EM survey will cover a large area over our current exploration efforts and operating mine. The deep-penetrating HELITEM Lite technology will detect and map conductive zones. Since the Wona Deposit is associated with conductive lithologies such as graphitic sediments, this survey can be used in conjunction with the 2009 magnetic survey to refine our geological and structural knowledge of the underlying rocks well below the saprolitic horizon. HELITEM Lite EM data has effectively been used in many areas including West Africa as a helpful regional mapping and prospecting tool.

SEMAFO believes that the already successful 2010 program, which commenced with a regional airborne magnetic survey, greatly enhances the value and potential of the peripheral group of permits. Our geological knowledge of the area is growing rapidly and further discoveries can be anticipated from the new surveys. In addition, the HELITEM Lite survey will shed new light on our interpretation of the new gold zones and how they relate to both Wona and Nyafé.

Figure 1 (click to enlarge)

About SEMAFO

SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Company 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 in West Africa.

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”, “potential”, “trends”, “further”, “believes”, “enhances”, “anticipated”, “committed”, “evolve”, “become”, “pursuing”, “growth” 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 of historical work to evidence gold mineralization in peripheral areas, the ability of the new surveys to translate into further discoveries, the ability of the HELITEM Lite survey to shed new light on our interpretation of the new gold zones and how they relate to both Wona and Nyafe, 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 2009 Annual MD&A, as updated in our 2010 First Quarter MD&A and 2010 Second 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.

For more information contact:

SEMAFO

Benoit La Salle
President & CEO
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Intersects a New Wider, High-Grade Area at Mana’s Wona SW – 4.20 g/t Au Over 32 Meters Results Also Expected to Extend Wona At-depth Open Pit Limits

2010-09-20

Montreal, Quebec, September 20, 2010 – SEMAFO (TSX: SMF) today announced results from its drilling program on the Wona SW Zone at the Company’s Mana Mine in Burkina Faso. The Wona SW Zone is located immediately southwest and parallel to the Wona Main Deep Zone. Core drilling results add significant underground depth potential for wider and higher grade mineralization, while reverse-circulation (“RC”) drilling results significantly expand the up-dip open pit extension of the mineralization over one kilometer. These outstanding results will conceivably add new reserves to the Wona Pit.

Since the last update on July 8, 2010 we carried out a total of 7,484 meters of core drilling in 17 holes (up to WDC223) and 7,924 meters of RC drilling in 35 holes (up to MRC10-212) on the Wona SW Zone. The drilling hit ratio remains close to 100%.

Core drilling focused primarily on the deeper part of the Wona SW Zone and the up-dip extension of the underground potential (WDC213, WDC214, WDC216 and WDC217) where we previously obtained high grade results. Results not only confirmed the higher grade up-dip mineralization with values of up to 7.32 g/t Au (12.95 g/t Au uncut) across 8.8 meters, but also identifies a wider area with a higher grade at greater depths with hole WDC223 returning 4.20 g/t Au over 32 meters. Proximal hole WDC209 also returned 3.07 g/t Au over an above-average width of 13.5 meters, which suggests that the immediate area where holes WDC209 and WDC223 were drilled could host an extensive gold mineralization (Figure 1). Additional drilling is scheduled to further test this area.

Furthermore, in order to establish the limit of the up-dip extension of the Wona SW Zone, a series of RC holes were completed immediately below the pit design over a 1.3-kilometer strike length, almost reaching the southwest end of the Wona pit. Results show that the addition of significant ore can be anticipated below the pit design, but above the revised open-pit bottom limit of 5,200 meters elevation, over a strike length of more than one kilometer.

The Wona SW parallel zones previously identified continue to be increasingly significant towards the southwest, showing areas of swelling with above average grades. Parallel zones were crossed in both near-surface RC holes and in deeper core holes. Their proximity to the Wona SW Zone and higher grade will most likely augment the reserves base in this area.

All individual core samples represent approximately one-meter in length of core which was sawed 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 Minerals laboratories in Ouagadougou, Burkina Faso. All individual RC samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximately 2kg subsample which is also sent for preparation and gold assaying at the ALS Minerals laboratories in Ouagadougou. Each sample is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Minerals laboratories. In addition to ALS Minerals’ own QA/QC (Quality Assurance/Quality Control) program, an internal quality control and quality assurance program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Figure 1 (Click to enlarge)

About SEMAFO

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 “suggesting”, “expected”, “extend”, “limits”, “potential”, “expand”, “additional”, “will”, “add”, “could”, “scheduled”, “anticipated”, “continue”, “committed”, “evolve”, “become”, “pursuing”, “growth” 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 of these drilling results to add new reserves to the Wona Pit, the ability of the immediate area where holes WDC209 and WDC223 were drilled to host an extensive gold mineralization, the ability of the results of the series of RC holes completed immediately below the pit design to add significant ore below the pit design but above the planned open-pit bottom, 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 2009 Annual MD&A, as updated in our 2010 First Quarter MD&A and 2010 Second 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.

For more information contact:

SEMAFO

Benoit La Salle
President & CEO
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Confirms Continuity of Mineralization at Mana’s Kona Zone Delineation Drilling Results Include 4.44 g/t Au Over 21 Meters

2010-09-09

Montreal, Quebec, September 9, 2010 – SEMAFO (TSX: SMF) today announced results from its delineation reverse-circulation (“RC”) drilling program on the Kona Zone confirming the continuity of the mineralization at the Company’s Mana Mine in Burkina Faso. The Kona Zone is located immediately northeast and on-strike with the Wona open pit.

Reverse-circulation drill holes MRC10-136 to MRC10-171 cover the Kona mineralization over a strike length of one kilometer, using 50-meter interval spacing. Results confirm the continuity of the mineralization over the entire strike length with local wide and higher grade intervals including 4.44 g/t Au (5.83 g/t uncut) across 21 meters. These results will be included to the resource estimation and the economic portion in the mine plan.

The delineation drilling program includes 36 RC holes totalling 5,380 meters (holes MRC10-136 to MRC10-171).

Recent drilling focused on delineating previously identified potential to upgrade the resource category, with additional potential still to be investigated further to the northeast as well at depth (Figure 1). Hole MRC10-026 drilled earlier this year on section 19100 N (northeast of the delineated section of the zone) returned 2.89 g/t Au across 3 meters. This interval suggests that the gold bearing Wona Corridor continues past the delineated zone with the potential to identify additional resources.

The parallel zones associated with the Kona Zone also returned significant results, particularly in the southwest part of the drilled area. The proximity of these zones to the main structure will undoubtedly add to the Kona Zone resource base.

All individual samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximately 2-kilogram sub-sample, which is sent for preparation and gold assaying at the ALS Chemex laboratories in Ouagadougou, Burkina Faso. Each sample is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Minerals laboratories. In addition to ALS Minerals’ own QA/QC (Quality Assurance/Quality Control) program, an internal quality control and quality assurance program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Figure 1 (Click to enlarge)

About SEMAFO

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 “estimation”, “will”, “potential”, “still”, “further”, “additional”, “committed”, “evolve”, “become”, “pursuing”, “growth” 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 of the parallel zones associated with the Kona Zone to add to the Kona Zone resource base, 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 2009 Annual MD&A, as updated in our 2010 First Quarter MD&A and 2010 Second 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.

For more information contact:

SEMAFO
Benoit La Salle,
President & CEO
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Reports Net Income of $33.6 Million for the Second Quarter 2010 - an Increase of 214% Year-Over-Year

2010-08-04

Montreal, Quebec, August 4, 2010 – SEMAFO (TSX: SMF) today announced its second quarter financial and operational results for the three-month period ended June 30, 2010. All amounts are in US dollars unless otherwise stated.

Second Quarter 2010 Highlights

In the second quarter 2010, SEMAFO produced 68,300 ounces of gold and achieved gold sales of $87,085,000, compared to gold production of 64,100 ounces and sales of $58,646,000 for the corresponding period in 2009. Operating income increased to $37,526,000 for the three-month period ended June 30, 2010, compared to $17,043,000 in the second quarter 2009. Highlights for the second quarter ended June 30, 2010 include:

- Gold production of 68,300 ounces, a 7% increase year over year
- Gold sales of $87,085,000, an increase of 48% year over year
- Cash operating cost of $426 per ounce compared to $419 in the same period in 2009
- Operating income of $37,526,000, a 120% increase year over year
- Net income of $33,631,000 or $0.13 per share, a 214% improvement year over year
- Quarterly cash flow from operating activities of $42,210,000 or $0.16 per share, representing a 66% increase year over year
- Continued exploration success at Mana
- Increase of 125% of our mineral reserves, representing 961,000 ounces at Mana
- Completion of a $113,018,000 (C$119,887,500) equity financing
- Purchase of a new mining fleet for the Samira Hill Mine

A Word from the CEO

SEMAFO set new records and posted significant year-over-year increases in revenue, operating income, net income, earnings per share and cash flow.

We produced 68,300 ounces of gold during the quarter, an increase of 7% over the second quarter 2009. We sold 72,000 ounces of gold during the quarter, representing an increase of 14% year over year. The variation in gold sales versus gold produced stems from a gold shipment that was delayed at the end of the first quarter to early in the second quarter. Gold sales totaled $87,085,000 for the quarter, 48% higher than the previous year. Our operating income increased by 120% to $37,526,000 and our net income increased by 214% to $33,631,000 year over year. These results are net of royalties paid and taxes accrued to the countries in which we operate amounting to $9,600,000. In addition, 2009 income taxes of $5,300,000 were paid during the quarter to a host country.

SEMAFO’s average realized gold price for the quarter was $1,210 per ounce, $13 per ounce higher than the London Gold Fix (PM), and up $99 over the first quarter 2010. As a result of our successful gold selling strategy, our average realized gold price has surpassed the average London Gold Fix (PM) for a sixth consecutive quarter. We posted quarterly cash flow from operations of $42,210,000, up 66% year over year and 60% over the first quarter of 2010.

SEMAFO’s liquidity and financial position remain strong. Through a bought-deal equity financing in June, we netted proceeds of $106,700,000, thereby increasing our cash position to $178,000,000.

Our flagship Mana Mine continued to excel with its best ever quarterly production of 45,700 ounces of gold, accounting for 67% of SEMAFO’s total record production of 68,300 ounces of gold for the three-month period ended June 30, 2010. We continued to see progress in our organic growth strategy during the quarter. Our exploration programs delivered consistently impressive results. Ten drilling rigs were active on the property including core, reverse-circulation and auger (geochemical sampling) drilling, delivering exploration results that further attest to the property’s excellent geological potential.

In June, we announced a 125% increase in reserves at Mana. The Wona Underground pre-feasibility results contributed to updated reserves as at April 30, 2010 for a total 1.7 million ounces. Our reserves at Mana have more than doubled, the underground potential is still open at depth and we have yet to include the results from the current Wona SW Zone. Metallurgical tests conducted on the Wona Underground revealed a 5% increase in hard rock recovery at Mana.

Given these outstanding exploration results and accelerated drilling program, we have allocated an additional $9,000,000 to Mana’s exploration budget.

We are pleased with our second quarter performance as we continue to deliver on our objectives and post strong financial and operational results. Moving forward, we believe that SEMAFO is well-positioned to further benefit from the positive gold price environment and continue our successful record of discovery, development and operations in order to deliver significant long-term value to our shareholders.

Consolidated Results and Mining Operations

Outlook

SEMAFO’s gold production for the month of July 2010 totaled 21,000 ounces, 15,000 ounces from the Mana Mine and 6,000 ounces from the Samira Hill and Kiniero Mines. Accordingly, management remains confident that the Company will attain its 2010 production guidance of between 235,000 and 260,000 ounces of gold.

SEMAFO’s Consolidated Financial Statements and Management's Discussion and Analysis and other relevant financial materials are available in the Investor Relations section of the Company's website at www.semafo.com. These and other Company reports are also available on the website maintained by the Canadian Securities regulators at www.sedar.com.

SEMAFO will host a conference call to discuss the results, as well as to provide an update on operations.

The conference call will feature Benoit La Salle, CA, President and Chief Executive Officer, Benoit Desormeaux, CA, Executive Vice-President and Chief Operating Officer, Martin Milette, CA, Chief Financial Officer, Michel Crevier, PGeo MScA, SEMAFO’s Geology Manager and Qualified Person, and Patrick Moryoussef, Eng, Mining Operations Manager.

The conference call will be archived for replay until August 25, 2010. To access the archived conference call, please dial 1 800 558-5253 and enter pass code 21475876 followed by the number sign (#).

A live audio webcast of the conference can be accessed through SEMAFO’s website at www.semafo.com. The webcast will be available for replay for a period of 90 days.

About SEMAFO

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 “growth”, “strategy”, “potential”, “further”, “continue”, “long-term”, “guidance”, “committed”, “evolve”, “become”, “pursuing” 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 2010 production guidance of between 235,000 and 260,000 ounces of gold, 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 2009 Annual MD&A and 2009 Annual Information Form, as updated in SEMAFO’s 2010 First Quarter MD&A and Second 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.

For more information contact:

SEMAFO
Benoit La Salle,
President & CEO
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO’s New Fofina Zone Returns 4.44 g/t Au Over 23 Meters at Mana Discovery of New Fobiri Zone - Exploration Budget Doubled to $18.2 Million

2010-08-03

Montreal, Quebec, August 3, 2010 – SEMAFO (TSX: SMF) today announced follow-up drilling results on the Fofina Zone, demonstrating good continuity of the zone with values of up to 4.44 g/t Au (5.57 g/t Au uncut) over 23 meters at Mana in Burkina Faso. In addition, reverse circulation (“RC”) and air core (“AC”) drilling conducted on Fobiri auger geochem anomalies returned significant drill intersections including 9.76 g/t Au over 3 meters, 5.44 g/t Au over 6 meters and 2.24 g/t Au over 21 meters. Ongoing excellent results on the property have prompted SEMAFO to allocate an additional $9,000,000 to Mana’s exploration budget.

The Fofina Zone occurs within a wide deformation zone located at the contact between a sequence of shale with minor volcanoclastic rocks and intermediate to mafic volcanic flows. Two sections located 50 meters southwest and northeast of the original discovery were completed in order to establish the zone’s geometry (Figure 1, Figure 2). The strength and width of the deformation zone continues on both sides of the original section. The Fofina Zone extends on both sections returning values such as 4.44 g/t Au (5.57 g/t Au uncut) over 23 meters from hole MRC10-109 and 2.16 g/t Au over 22 meters in hole MRC10-101. The V1 structure associated with the Fofina Zone also returned grades of up to 6.76 g/t Au (7.11 g/t Au uncut) over 4 meters. Structures V2 to V4 remain untested along strike. Section Fofina L1 will also be extended toward the northwest to cross the Fofina Zone.

Ongoing regional exploration RC and AC drilling elsewhere within the Fobiri-Fofina area (Figure 1, Figure 3) has returned very encouraging results warranting follow-up drilling. To date, five sections have been completed to test the auger drilling anomalies FOB1, FOB2, and FNW1. Two sections merit further investigation, namely the Fofina AC L1 and Fobiri L1. Fofina AC L1, located two kilometers northeast of the original Fofina discovery, tested a narrow but strong auger drilling anomaly, interpreted to be the northeast extension of the FNW1 trend. A corridor of quartz rich zones was crossed, some of which have returned values of up to 5.44 g/t Au over 6 meters and 9.76 g/t Au over 3 meters. Their higher grade, mode of occurrence, and proximity to the Nyafé Pit suggests a similar type of mineralization. Section Fobiri L1 on the Fobiri Block also returned very encouraging intersections. Holes MRC10-112 to 114 crossed a sequence of volcanic flows flanked by volcanoclastics to the northeast and an intermediate intrusive sequence to the SW. The volcanic flows are locally sheared and host significant zones of quartz veining, many of which contain gold values including the Fobiri Zone which coincides directly with the FOB1 auger anomaly. Values of 2.24 g/t Au over 21 meters and 2.11 g/t Au over 4 meters were obtained from this zone. Another parallel zone returned up to 2.33 g/t Au over 5 meters.

“The RC/AC drilling program continues to produce new discoveries, many of which coincide with auger anomalies,” said Michel Crevier, SEMAFO’s Geology Manager. “Our systematic approach to exploration on our Mana property is designed to provide not only a preliminary estimation of its potential, but also to rapidly establish new zones that could generate new resources and mineable reserves for the future. Our recent success validates our approach.”

Moving forward, SEMAFO plans to complete a short diamond drilling program on Fofina in order to confirm interpretation and provide valuable structural information. This is deemed paramount for the optimization of the subsequent RC drilling program, designed to explore the extensions laterally and at depth. Follow-up RC drilling is scheduled to commence in August on the Fofina and Fobiri Zone, the V2 to V4 veins previously announced and other new significant gold zones.

Motivated by continuous and outstanding exploration results, SEMAFO announced that Mana’s 2010 exploration budget has been increased from $9.2M to $18.2M. The stepped up exploration budget will mainly serve to carry out additional core and RC drilling at Fofina, Fobiri, Y1, BC1, Kona and Wona Deep.

All individual samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximately 2-kilogram sub-sample, which is sent for preparation and gold assaying at the ALS Chemex laboratories in Ouagadougou, Burkina Faso. Each sample is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Chemex laboratories. In addition to ALS Chemex’s own QA/QC (Quality Assurance/Quality Control) program, an internal quality control and quality assurance program is in place throughout the sampling program, using blind duplicates, blanks and recognized industry standards.

Figure 1 (click to enlarge)

Figure 2 (click ton enlarge)

Figure 3 (click to enlarge)

About SEMAFO

SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Company currently operates three gold mines in Burkina Faso, Niger and 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 in West Africa.

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 “ongoing”, “will”, “extended”, “further”, “investigation”, “future”, “plans”, “scheduled”, “commence”, “evolve”, “become”, “pursuing”, “growth” 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 of our approach to exploration on our Mana property to rapidly establish new zones that could generate new resources and mineable reserves for the future, the ability of the short diamond drilling program on Fofina to confirm interpretation and provide valuable structural information, 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 2009 Annual MD&A, as updated in the 2010 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.

For more information contact:

SEMAFO
Benoit La Salle,
President & CEO
Tel: 514 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: 514 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Commissions Second Phase of Plant Expansion at Mana

2010-07-28

Montreal, Quebec, July 28, 2010 – SEMAFO (TSX: SMF) today announced the commissioning of the semi-autogenous grinding (“SAG”) mill at its Mana Mine in Burkina Faso and the completion of phase two of the plant expansion.

Since the SAG mill start-up, throughput capacity reached up to 6,870 tonnes per day. Once fully commissioned, the SAG mill and new crusher will increase hard rock processing capacity from the current 4,000 tpd to 6,000 tonnes per day.

Commenting on the milestone, Benoit Desormeaux, Executive Vice-President and Chief Operating Officer said, “Once again our team met expectation, completing the second phase of plant expansion on time. Work remains ongoing, with our teams now focusing on phase three of the plant expansion, which is well underway and scheduled for completion by year end.”

Phase two was adopted in consideration of current reserves, 72% of which are in hard rock. This second phase of the plant expansion can increase annual production by up to 40,000 ounces when compared to Mana’s previous plant capacity in hard rock.

As at April 30, 2010 Mana’s mineral reserves by sector were as follows:

The main enhancements to the plant in phase two are the addition of a 26’ x 10’ SAG mill and the addition of a 36’’ x 48’’ single jaw crusher with a 400 tonne-per-hour capacity.

Phase three consists mainly of the addition of two CIL tanks which will extend the leach time in order to accommodate increased throughput and optimize gold recovery. Commissioning of the third phase is scheduled for the end of 2010.

About SEMAFO

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 “will”, “increase”, “ongoing”, “scheduled”, “optimize”, “growth”, “evolve”, “become”, “pursuing” 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 of the new SAG mill to increase capacity to 6,000 tonnes per day, the ability of the second phase of the plant explanation to increase annual production by up to 40,000 ounces when compared to Mana’s previous plant capacity in hard rock, the ability of phase three to optimize gold recovery, 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 2009 Annual MD&A, as updated by our 2010 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.

For more information contact:

SEMAFO
Benoit La Salle,
President & CEO
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Auger Drilling Program Continues to Generate Priority Targets at Mana

2010-07-26

Montreal, Quebec, July 26, 2010 – SEMAFO (TSX: SMF) today confirmed that the Company’s auger geochemical drilling program continues to be very successful with new priority targets on the Y1 and BC1 blocks at its Mana Mine in Burkina Faso. Both the Y1 and BC1 blocks are along strike with the Wona deformation corridor, host to the Wona and Kona deposits. At BC1, four anomalous trends are recognized striking parallel to the Wona Zone, with three measuring 800 meters and one of 2.4 kilometers. At Y1, four trends are observed measuring up to three kilometers and coincide with a historical artisanal mining area from which grab samples returned up to 3.77 g/t Au. To further enhance exploration efficiency, induced polarisation (“IP”) geophysical surveys have begun over three strategic areas.

The auger drilling program is progressing according to schedule, with a total of nine out of 15 work blocks within the priority target areas covered to at least 400-meter spacing. Anomalous areas will be more closely defined at 200-meter line spacing where required. A total of 7,500 holes totaling 52,000 meters have been drilled and 12,800 samples taken since inception of the program. This includes the previously announced Fofina NW, Fobiri, Wona SW, and Kona blocks, all of which have returned priority targets, and leading to the Fofina Discovery on the Fofina NW block (reference SEMAFO’s press release dated June 17, 2010). Among the remaining blocks, BC1 and Y1 have returned priority targets that are scheduled for reverse-circulation (“RC”) drilling follow-up in 2010.

At BC1, located 16 kilometers northeast of the Mana processing plant, four anomalous trends are observed along strike with the Wona Zone. The two southernmost anomalous trends have returned their highest gold content on the southwest limit of the outlined block (Figure 1). The grid is currently being extended to the southwest in order to define its extension. All four trends flank a prominent northeast tending magnetic anomaly. In addition, the grid will be reduced to 200-meter line spacing along the anomalies in order to better define RC drill targets.

At Y1, located 12 kilometers southwest of the processing plant, four anomalous trends are observed, one of which measures more than three kilometers in length (Figure 2). The relationship between the four anomalies correlates well with the magnetic data and suggests that the strike of the units change from northwest to north-northwest towards the south. These variations in strike can provide structural gold traps. The three-kilometer-long anomaly appears spatially related to a historical artisanal mining area also trending northwest, from which brecciated quartz-rich grab samples have returned values of up to 3.77 g/t Au. Further auger drilling is also scheduled at Y1 to better define the trends prior to RC drill testing. Additional lines will also be added to extend the block to the southwest since the anomalies remain open in that direction.

“We are very pleased with the ongoing favourable results from our exploration,” commented Michel Crevier, Geology Manager and SEMAFO’s Qualified Person, “We remain extremely dynamic in our exploration approach, which allows us to react immediately to incoming results and modify our plans as necessary in order to optimize our exploration program activities. Our target generation program is successful beyond expectation, and our RC exploration program has already validated our auger targets at Fofina. We continue to aggressively pursue the growth of our reserve and resource base at Mana.”

Scheduled exploration activities at Mana include three core drilling rigs and three RC/AC drilling rigs.

SEMAFO has also initiated an IP geophysical program on three selected blocks: the Fo-Fo, Y1, and Bombouela blocks (Figure 3). A total of 515 line-kilometers are scheduled and are expected to provide supporting geological data for target selection. The Fo-Fo block totals 201 line-kilometers and covers both the Nyafé Pit SW extension and the new Fofina Zone. IP data will help refine the geological and structural environment in the vicinity of the mineralized zones in order to extend the zones by drilling. At Y1 (211 line-kilometers), in order to optimize follow-up drilling, the IP survey will not only cover the identified auger anomalies but will also identify the most conductive areas within the wide favourable corridor, specifically where it shows a flexure that may have had an effect on gold distribution. Finally, at Bombouela, a total of 103 line-kilometers are scheduled. The Bombouela block covers a large favourable corridor between the Kona Zone, which currently being defined for reserve estimation, and the BC1 auger drill block. Within this block the Wona trend is somewhat hidden based on magnetic data, although still traceable. In addition, a series of stacked magnetic anomalies coming from the southeast may provide prospective structural discontinuities. It is expected that the IP data will help locate the Wona trend across this area into the BC1 block.

The exploration programs were designed and managed locally by Dofinta Bondé and David Lalonde, Mana Mineral’s Exploration Chief Geologists with Richard Roy P Geo, Deputy Geology Manager, guided and supervised under the direction of Michel Crevier, P.Geo MScA, Geology Manager and SEMAFO’s Qualified Person who has reviewed this press release for accuracy and compliance with National Instrument 43-101.

Figure 1 (click to enlarge)

Figure 2 (click to enlarge)

Figure 3 (click to enlarge)

About SEMAFO

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 “commence”, “progressing”, “schedule”, “will”, “underway”, “extended”, “suggests”, “optimize”, “to be added”, “evolve”, “become” “pursuing”, growth” 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 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 2009 Annual MD&A, as updated in the 2010 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.

For more information contact:

SEMAFO
Benoit La Salle,
President & CEO
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: sstlaurent@semafo.com

SEMAFO Compliant with World Bank Extractive Industries Transparency Initiative

2010-07-12

Montreal, Quebec, July 12, 2010 – SEMAFO (TSX: SMF) today reiterated that the Company adheres to the highest corporate governance and business standards. SEMAFO and its Samira Hill Mine in Niger, operating under the name Société des Mines du Liptako S.A. (“SML”) have always been respectful of the Niger mining code, rules and regulations and are compliant with the revenue transparency initiative supported by the World Bank. SEMAFO and its subsidiaries have consistently honored all contractual agreements with the Government of Niger and in all of the countries in which we operate.

A new investigative committee has been put in place in Niger. The committee was established by the transitional government to review the agreements endorsed by previous regimes, more specifically with regard to the economic benefits to the country.

Commenting on the matter, Benoit La Salle, SEMAFO’s President and Chief Executive Officer, “We have always upheld transparent business practices. Our organization is governed by strong ethics and values and we certainly welcome any enquiries or comments in this regard. Our financial reporting and obligations are of the highest standards. We are confident that the Niger committee will confirm this fact and that there will be no major repercussion on SML as a result of this inquiry.”

“At SEMAFO, we pride ourselves on being responsible corporate citizens. We continually strive to respect and honor our contracts and we have always been fully compliant with our mining agreements,” added Mr. La Salle. “In Niger, we have paid more than $24.8 million in taxes, royalties and local salaries from 2004 to 2009, $14 million of which represented royalty payments. In addition during this period, SML spent more than $153 million on locally-purchased goods and services.”

In 2003, and with the approval of the SML shareholders, SML with SEMAFO as guarantor undertook a hedging program with a financial institution, Société Générale, to obtain debt financing for construction of the mine and infrastructures. Since then, SEMAFO has invested in excess of $80 million in SML.

In compliance with customary mining practices, SML intends to pay dividends to its shareholders once the capital has been reimbursed to its funding shareholder. In this regard, it is important to note that according to West African corporate-governing regulations, dividends can be paid to shareholders once the accumulated deficit has been cleared in full.

All SML accounts are audited annually and a special report filed in accordance with OHADA-governed regulation ("Organisation for the Harmonization of Business Law in Africa”, a system of business laws and implementing institutions adopted by sixteen West and Central African nations).

About SEMAFO

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 “growth”, “evolve”, “become”, “pursuing” 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 of the Niger Commission to confirm that SML has conducted itself in accordance with its contractual commitments with the Niger government, applicable law and high governance, financial and business standards, as well as mining industry risks, 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 2009 Annual MD&A, as updated by our 2010 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.

For more information contact:

SEMAFO
Benoit La Salle,
President & CEO
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: blasalle@semafo.com

Sofia St Laurent
Communications
Tel: (514) 744-4408
Toll-Free: 1 (888) 744-4408
E-Mail: sstlaurent@semafo.com