Mana Mill Commissioning on Schedule
Montreal, Quebec, March 19, 2008 - SEMAFO (TSX - SMF) today announced that the commissioning of the Mana processing plant is progressing according to schedule. Based on the current timetable, the first gold pour is expected prior to month end.
"Ore feed to the mill has been progressively increased with an average of 1,200 tons per day having been processed over the past 14 days," said Benoit Desormeaux, Semafo's Executive Vice-President and Chief Operating Officer. "We are pleased to report that the mill is operating on a continuous basis, save planned shut downs for start-up adjustments and equipment fine-tuning.
Gold production will commence utilizing the first of two ball mills to be installed at the plant. The first ball mill will provide a daily throughput of 2,000 tonnes, for an estimated monthly gold production of 4,000 ounces. The second ball mill, scheduled to enter into service in the third quarter of 2008, will increase daily throughput to 4,000 tonnes augmenting monthly gold production to 10,000 ounces. Accordingly, Mana gold production for 2008 is anticipated to be between 60,000 and 70,000 ounces.
Given the increased scope of the project resulting from the addition of a second ball mill, engineering work is underway to increase throughput using both ball mills concurrently. These enhancements are scheduled to be implemented for year-end.
Semafo is a Canadian-based mining company with gold production and exploration activities located in West Africa. The Company currently operates three gold mines. 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.
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 :
BENOIT LA SALLE,
PRESIDENT & CEO
TEL :&NBSP; (514) 744-4408
E-MAIL :&NBSP; BLASALLE@SEMAFO.COM&NBSP;
RENMARK FINANCIAL COMMUNICATIONS INC.:
MAURICE DAGENAIS: MDAGENAIS@RENMARKFINANCIAL.COM&NBSP;
ERIC ST-PIERRE : ESTPIERRE@RENMARKFINANCIAL.COM
TEL.: (514) 939-3989
FAX: (514) 939-3717