Montreal, Quebec, December 28, 2007 - SEMAFO (TSX - SMF) is pleased to announce that plant start-up at the Mana gold project is still scheduled for mid-February 2008.
A brief overview of the projects development is as follows:
- All infrastructure has been completed
- All equipment for start-up has been delivered
- Mining is underway
- Construction of the rompad has been completed
- Power generators have been installed and are operational
- The water dam and tailings dam have been completed
- The crushing circuit has been installed and will be commissioned in January
- The 2,000 tonne/day ball mill is being installed and will be completed by the end of January
- The shell of the 4,000 tonne/day ball mill will be shipped to Africa in early January
- The laboratory and gold room will be completed in January
- Our workforce and management team is in place
The Mana gold project is both fully permitted and fully funded. Construction updates will continue to be provided monthly. Site photography is updated and can be viewed via the internet at www.semafo.com .
Deep drilling on the previously announced extension of the Wona structure has been completed. Results are expected at the end of January 2008.
About SEMAFO
Semafo is a Canadian-based mining company with gold production and exploration activities located in West Africa. The Company currently operates two gold mines with a third, the Mana mine in Burkina Faso, in the latter stages of construction. Semafo is committed to evolve in a conscientious manner to become a major player in its geographical area of interest, while maintaining values 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.
Tina Cameron : tcameron@renmarkfinancial.com
Eric St-Pierre : estpierre@renmarkfinancial.com
Tel : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com
