Semafo: At-depth High-grade Extension Results at Mana
Gold Values Include 4.09 g/t Au Over 48 Meters

Montreal, Quebec, August 7, 2008. � SEMAFO (TSX: SMF) today announced additional results from its 2008 on-going exploration program at the Mana mine in Burkina Faso. The recent core drilling program at Wona has returned the most significant drill intercepts at Mana to date. Hole No. WDC70 has intersected 4.09 g/t over a 48m length. This current drilling program confirms the at-depth NE high-grade extension of Wona.

The on-going exploration program involves core drilling on the previously identified targets of the northeast extension of the Wona mineralization.  Initial reference was made to this potential mineralization in Semafo�s March 24 and June 17, 2008 press releases.

Thus far, more than 12 diamond drill holes have been completed and have all successfully intersected gold mineralization. Results received to date for 9 of the drill holes validate the presence of continuous mineralized zones at-depth and substantially improve the overall valuation of the extension of the main Wona deposit.  These new results also confirm previous indications that the mineralization hosts high-grade gold values.  Further drilling is ongoing and will continue through year-end.

The following table presents the drilling results including the main mineralization intersected and high-grade values.
 

* All lengths are down-the-hole lengths; additional information is required to determine true widths.

The area herein described is shown on the attached longitudinal section displaying contoured grade-thickness product values in progressive cold to hot colors.

THIS PRESS RELEASE CONTAINS A MAP PLEASE CLICK HERE TO VIEW

�Since its discovery, we have been convinced of the exceptional potential of the Mana deposit,� said Benoit La Salle, Semafo�s President and CEO.  �Today, with the mine in operation and these outstanding exploration program results, we can focus with confidence on increasing all the value parameters of this project.�

Semafo�s properties in Burkina Faso are within the Hound� volcano-sedimentary belt. As described in previous technical reports, more than one mineralization type has been recognized in the area, such as the Nyaf� deposit which is of vein-type in sheared volcanics and the Wona deposit, which lies in meta-sediments. The latter is related to silicification which is often brecciated and generally at proximity of a graphitic horizon.

The drilling programs were designed and managed locally by Dofinta Bond�, Mana Mineral�s Exploration Chief Geologist 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 the Canadian Instrument NI 43-101.

All individual samples represented one-meter length of core drilling which was sawn in half or one-meter length.  One half core is kept on site as a control with the identical sample sent for preparation and gold assaying at the ALS Chemex laboratories in Ouagadougou, Burkina Faso.  Each sample was fire assayed for gold content on a 50-gram sub-sample at the same ALS Chemex laboratories.  Complementing ALS Chemex�s own QA/QC (Quality Assurance / Quality Control) program, an internal quality control and quality assurance program was in place throughout the sampling program, using blind duplicates and recognized industry standards.

Mana is Semafo�s newest mine located in Burkina Faso, approximately 200 km west of the capital Ouagadougou.  The Mana mine�s first gold pour took place on March 31, with commercial production declared during the second quarter 2008.  Mana has a total of 924,600 ounces of gold mineral reserves, 317,800 ounces of measured and indicated resources and 1,867,100 ounces of inferred resources. The Mana start-up marked the third time Semafo has successfully brought a West African gold project into production.

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 Sa lle,
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