Mineral Reserves and Resources

PROPERTY Mana1,2,4,5,6 Tapoa1,2,4,5,6
(Boungou Mine)
Yactibo1,3,4,5,7
(Nabanga Project)
Total
MINERAL RESERVES
Proven
Tonnes 9,124,000 1,584,000 10,708,000
Grade (g/t Au) 2.96 6.45 3.48
Ounces 868,600 329,000 1,197,600
Probable
Tonnes 9,107,000 9,611,000 18,718,000
Grade (g/t Au) 2.88 3.72 3.31
Ounces 841,700 1,150,000 1,991,700
TOTAL MINERAL RESERVES
Tonnes 18,231,000 11,195,000 29,426,000
Grade (g/t Au) 2.92 4.11 3.37
Ounces 1,710,300 1,479,000 3,189,300
MINERAL RESOURCES (exclusive of reserves)
Measured
Tonnes 8,723,000 62,000 8,785,000
Grade (g/t Au) 1.49 1.86 1.49
Ounces 416,600 4,000 420,600
Indicated
Tonnes 34,800,000 4,768,000 39,568,000/b>
Grade (g/t Au) 2.04 2.66 2.11
Ounces 2,280,200 408,000 2,688,200
TOTAL M&I
Tonnes 43,523,000 4,830,000 48,353,000
Grade (g/t Au) 1.93 2.65 2.00
Ounces 2,696,800 412,000 3,108,800
Inferred
Tonnes 9,270,000 855,000 1,840,000 11,965,000
Grade (g/t Au) 2.68 2.08 10.00 3.76
Ounces 799,100 57,000 590,000 1,446,100

1 The Corporation indirectly owns a 100% interest in all of its permits. except for the permits held by SEMAFO Burkina Faso S.A. and SEMAFO Boungou S.A., respectively, in which the Government of Burkina Faso holds a 10% interest.
2 Mineral reserves and resources at Mana and at Tapoa (Boungou Mine) were estimated using a gold price of $1,200 and $1,400 per ounce. respectively.
3 Mineral resources at Yactibo Permit Group (Nabanga project) were reported above a 5.0 g/t Au cut-off grade.
4 Rounding of numbers of tonnes and ounces may present slight differences in the figures.
5 All mineral resources reported are exclusive of mineral reserves.
6 As of December 31, 2017.
7 As of June 30, 2015.

MANA, Burkina Faso1,2,3

DEPOSITS DECEMBER 31, 2017
PROVEN RESERVES PROBABLE RESERVES TOTAL RESERVES
Tonnage Grade
(g/t Au)
Ounces4 Tonnage Grade
(g/t Au)
Ounces4 Tonnage Grade
(g/t Au)
Ounces4
WONA-KONA 6,062,000 2.33 453,500 6,280,000 2.22 448,900 12,342,000 2.27 902,400
NYAFÉ 265,000 5.81 49,600 6,000 3.96 700 271,000 5.77 50,300
FOFINA 33,000 4.66 4,900 3,000 3.94 300 36,000 4.49 5,200
SIOU OP 1,400,000 3.78 170,200 179,000 1.92 11,000 1,579,000 3.57 181,200
SIOU UG 1,047,000 5.10 171,600 1,988,000 5.38 344,200 3,035,000 5.29 515,800
YAMA 651,000 1.75 36,600 651,000 1.75 36,600
ROMPAD 317,000 1.84 18,800 317,000 1.84 18,800
TOTAL 9,124,000; 2.96 868,600 9,107,000 2.88 841,700 18,231,000 2.92 1,710,300

 

DEPOSITS DECEMBER 31, 2017
MEASURED INDICATED TOTAL RESOURCES
Tonnage Grade
(g/t Au)
Ounces4 Tonnage Grade
(g/t Au)
Ounces4 Tonnage Grade
(g/t Au)
Ounces4
WONA-KONA 1,331,000 2.05 87,800 21,623,000 2.55 1,775,600 22,954,000 2.52 1,863,400
NYAFÉ 286,000 3.94 36,300 223,000 5.97 42,700 509,000 4.83 79,000
FOFINA 293,000 4.25 40,000 253,000 4.45 36,100 546,000 4.34 76,100
YAHO 5,738,000 0.91 168,500 11,636,000 0.88 330,800 17,374,000 0.89 499,300
FILON 67 26,000 2.72 2,300 9,000 3.59 1,000 35,000 2.93 3,300
FOBIRI 469,000 1.80 27,100 114,000 1.52 5,600 583,000 1.74 32,700
SIOU OP 67,000 0.63 1,400 56,000 0.65 1,200 123,000 0.66 2,600
SIOU UG 513,000 3.23 53,200 787,000 3.25 82,300 1,300,000 3.24 135,500
YAMA - - - 99,000 1.56 4,900 99,000 1.54 4,900
TOTAL MANA 8,723,000 1.49 416,600 34,800,000 2.04 2,280,200 43,523,000 1.93 2,696,800

 

DEPOSITS DECEMBER 31, 2017
INFERRED
Tonnage Grade
(g/t Au)
Ounces4
WONA-KONA 3,466,000 2.96 329,600
NYAFÉ 151,000 5.87 28,400
FOFINA 67,000 4.20 9,100
YAHO 223,000 0.78 5,600
FILON 67 6,000 6.32 1,100
FOBIRI 578,000 1.39 25,800
MAOULA 2,628,000 1.62 137,100
SIOU 2,093,000 3.86 259,900
YAMA 58,000 1.33 2,500
TOTAL MANA 9,270,000 2.68 799,100

1 The Corporation indirectly owns 90% of SEMAFO Burkina Faso S.A., which directly holds the interest in the Mana Mine reserves and resources.
2 Mineral reserves and resources were estimated using a gold price of $1,200 and $1,400 per ounce, respectively.
3 All mineral resources reported are exclusive of mineral reserves.
4 Rounding of numbers of tonnes and ounces may present slight differences in the figures.