Semafo Forms Technical Team To Manage Uranium Exploration Activities In Niger
Montreal, Quebec, May 4, 2007 - SEMAFO (TSX - SMF) today announced that, its wholly owned subsidiary, Semafo Energie Inc. has appointed a dedicated team to manage exploration activities on its recently awarded uranium permits within the Tim Merso� sedimentary basin, east of the Arlit fault, in the Republic of Niger, West Africa, one of the largest uranium producing country in the world.
Semafo Energie's uranium related activities will be conducted using the highest standards and best practises to achieve optimum success in the exploration programs being launched.
The initial appointments comprise:
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Patrick de Saint Simon, a geological and mining engineer with 35 years experience in uranium, diamonds and gold exploration and mining in Africa and worldwide. Mr. de Saint Simon will head the management team as President of Semafo Energie;
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Pascal Renardet, a mining engineer with 40 years experience of which 17 years were spent in coal, and uranium gold exploration and mining with COGEMA. Mr. Renardet will act as Vice-President, Operations.
In addition, a technical advisory board has been established with senior geologists and mining engineers who bring extensive uranium specific experience in Niger to support the exploration work carried out. These appointments comprise:
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Clovis Caleix, a Mining Engineer from �cole des Mines de Paris, working as an international mining and metallurgical consultant since 1992, has over 34 years of experience in building and managing coal, gold and uranium operations worldwide and specifically in Niger with COGEMA;
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Michel Cazoulat, a Geological Engineer from Ecole Nationale Sup�rieure de G�ologie (ESNG) of Nancy, an international expert in uranium exploration, has worked 25 years with COGEMA, principally in Niger but also in other African countries amongst others.
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Michel J�brak, Ph.D. in Mineral Resources from Orl�ans, France, a Professor and Research and Creation Provost at Universit� du Qu�bec � Montr�al (UQAM), has over 30 years of experience in mineral exploration and teaching. His main research interests are related to exploration for uranium and base and precious metals, structural and dynamic geology and numerical modeling and applications of artificial intelligence to geology.
"Gathering together a powerful team represents the first step in this unique opportunity to discover uranium deposits in this highly prospective area", said Benoit La Salle, President and CEO of Semafo inc. and Chairman of Semafo Energie. "These individuals bring with them a wealth of experience that can be directly applied to delivering successful exploration programs."
Senior management personnel are currently on site in Agadez, Niger preparing a preliminary reconnaissance program which will be focused on the surface geology and geochemistry over the entire permit area using remote sensing technology such as satellite imagery linked to ground geology. The expected occurrence of predominantly continental Carboniferous or Jurassic series within the permit area and the proximity of potential uranium structural feeders make a promising combination. This work will be immediately followed with high resolution airborne geophysics over potential occurrences and a deep drilling program to establish the stratigraphy of the sedimentary series within the area.
The common shares of Semafo are traded on The Toronto Stock Exchange under the symbol "SMF".
FORWARD-LOOKING STATEMENTS
This press release contains � forward-looking statements �, including, but not limited to, the statements regarding the Company's expectations as to the market price of gold, strategic plans, future commercial production, production targets, timetables, mine operating costs, fixed assets expenses, mineral reserve estimates and to the company's perspectives. Forward-looking statements express, as at the date of this press release, our estimates, forecasts, projections, expectations and beliefs as to future events or results. Forward-looking statements are reasonable, but involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or
implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, uncertainty as to calculation of mineral reserves, risks related to the grade of reserves, risks related to hedging strategies, risks of delays in construction and requirements of additional financing.
Semafo is a mining company whose mission is to explore, develop and mine
major mineral deposits in West Africa. Semafo currently operates the Kiniero mine in Guinea,
the Samira Hill mine in Niger and the Mana project in Burkina Faso, currently in construction.
For more information contact :
SEMAFO:
Benoit La Salle, President & CEO
Tel : (514) 744-4408
Fax: (514) 744-2291
E-Mail : blasalle@semafo.com
SEMAFO �NERGIE ;
Patrick de Saint-Simon, President
Tel : (33) 607 75 98 58
E-Mail : psaintsimon@semafo.com
RENMARK :
Tina Cameron : tcameron@renmarkfinancial.com
Christopher Wells : cwells@renmarkfinancial.com
Tel : (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
MORE EXTENSIVE INFORMATION ON SEMAFO CAN BE FOUND ON OUR HOME PAGE AT HTTP://WWW.SEMAFO.COM
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Semafo Inc
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PRODUCTEUR |
CODE : SMF.TO |
ISIN : CA8169221089 |
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Semafo est une société de production minière d'or basée au Canada. Semafo détient divers projets d'exploration au Burkina Faso. Ses principaux projets en production sont KINIERO en Guinee, SAMIRA HILL au Niger et MANA au Burkina Faso. Semafo est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 1,5 milliards CA$ (1,1 milliards US$, 1,0 milliards €). La valeur de son action a atteint son plus bas niveau récent le 14 décembre 2001 à 0,10 CA$, et son plus haut niveau récent le 16 septembre 2011 à 10,00 CA$. Semafo possède 324 860 000 actions en circulation. |