Montreal, Quebec, December 22nd, 2006 - SEMAFO INC. (TSX - SMF) today announced that Soci'et'e des Mines du Liptako (SML), owner of the Samira Hill mine in Niger, has experienced a general workforce disruption in the surrounding area of its operations. The disruption forced SML as well as its mining contractor to suspend activities at the mine. SML management has requested that all employees cease their support and participation to the disruption and promptly return to work. Government authorities have been informed of this situation and a request has been placed before them for assistance to rectify the situation.
Further details will be released and communicated as they become available.
The Samira Hill Gold Mine ownership is held 40% by Semafo, 40% by Etruscan Resources Inc. and 20% by the State of Niger.
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 gold, 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 :
|
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 Christopher Wells Tel : (514) 939-3989 Fax: (514) 939-3717 |
