Mana Mining Permit Update
Montreal, Quebec, October 23, 2006. - SEMAFO (TSX - SMF) announced today that it has successfully completed the final environmental review relating to its Mana project in Burkina Faso. SEMAFO received written confirmation of environmental compliance.
It is expected that formal issuance of the mining permit for the project will take place within the coming month.
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 gold deposits in West Africa. Semafo currently operates the Kiniero mine in Guinea,
the Samira Hill mine in Niger and is developing the Mana project in Burkina Faso
For more information contact :
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SEMAFO: Benoit La Salle, President & CEO Tel : (514) 744-4408 Fax: (514) 744-2291 E-Mail : blasalle@semafo.com |
SEMAFO: Michel Cormier Qualified Person Tel: (514) 744-4408 Fax : (514) 744-2291 E-mail: mcormier@semafo.com |
Renmark : Tina Cameron : tcameron@renmarkfinancial.com Christopher Wells : cwells@renmarkfinancial.com Tel : (514) 939-3989 Fax: (514) 939-3717 |
