SEMAFO TO RELEASE SECOND QUARTER FINANCIAL RESULTS ON AUGUST 12, 2008
Q2 CONFERENCE CALL SCHEDULED FOR AUGUST 13, 2008

Montreal, Quebec, July 23, 2008 - Semafo Inc. (TSX: SMF) will release its second quarter results for the three-month period ended June 30, 2008 on Tuesday, August 12, 2008, after market close.  In connection with the release, Semafo will host a conference call on August 13th to discuss the company�s financial results as well as to provide an update on operations.

Conference call:
Date:   Wednesday, August 13, 2008
Time:   10:00 AM (ET)
Tel. local & overseas: 1-416-915-5761
Tel. North America:  1-800-590-1817
 
Replay information: 
The conference call will be archived for replay until September 13th, 2008.  To access the archived conference call, please dial (877) 289-8525 and enter pass code 2127 9078 followed by the number sign (#).

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, while maintaining principles 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 Inc. :
Maurice Dagenais : mdagenais@renmarkfinancial.com
Jason Roy : jroy@renmarkfinancial.com
Tel :  (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com