SEMAFO CONCLUDES MANA GOLD PROJECT MINING CONVENTION

Montreal, Quebec, October 11, 2007 - SEMAFO (TSX - SMF) announced the signing of the Mana gold project mining convention by Dr. Abdoulaye Abdoulkader Cisse, Minister of Mines and Energy, Burkina Faso.

The Mining Convention was established by the government of Burkina Faso to govern specific details relating to fiscal arrangements, taxation, employment, land and mining guarantees, as well as environmental protection in accordance with Burkina Faso's mining code. The Mining Convention is valid for 20 years and is renewable in 10 year increments for the full life of the mining permit.

Semafo is in the final phase of construction of the mine and plant facility with commissioning scheduled for year-end.  

Semafo maintains excellent relations with the Burkina Faso government, who is strong advocate of mining, and who has provided support and security of title through their Ministry of Mines and Energy.  The cou ntry's fiscal procedures and policies are well established and generally consistent with North American rules and regulations.

The common shares of Semafo are traded on The Toronto Stock Exchange under the symbol "SMF".

About SEMAFO
Semafo is a Canadian-based mining company conducting exploration, development and production activities in West Africa.  The Company currently operates two gold mines, the Kiniero mine in Guinea and the Samira Hill mine in Niger.   A third mine, the Mana gold project in Burkina Faso, is under construction with plant commissioning scheduled for December 2007.   Semafo is committed to evolve in a conscientious manner to become a major player in its geographical area of interest, while maintaining values and strengthening relationships to increase shareholder value. 

FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding expectations of the Company as to the market price of gold, strategic plans, future commercial production, production targets, timetables, mining operating expenses, capital expenditures, and mineral reserve and resource estimates. Forward-looking statements involve known and unknown risks and uncertainties and accordingly, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, uncertainty as to calculation of mineral reserves and resources, risks related t o hedging strategies, risks of delays in construction, requirements of additional financing and other risks described in the Company's documents filed from time to time with Canadian securities regulatory authorities. Although the Company is of the opinion that these forward-looking statements are based on reasonable assumptions, those assumptions may prove to be incorrect. Accordingly, readers should not place undue reliance on forward-looking statements. Readers can find further information with respect to risks in the Annual Information Form of the Company and other filings of the Company with Canadian securities regulatory authorities available at www.sedar.com. The Company 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
E-MAIL : BLASALLE@SEMAFO.COM

RENMARK FINANCIAL COMMUNICATIONS :
TINA CAMERON : TCAMERON@RENMARKFINANCIAL.COM
ERIC ST-PIERRE :  ESTPIERRE@RENMARKFINANCIAL.COM
TEL :  (514) 939-3989
FAX : (514) 939-3717
WWW.RENMARKFINANCIAL.COM