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SEMAFO Updates on Boungou

CNW Group - Mon Nov 11, 7:55AM CST

SEMAFO Inc. (TSX:SMF.TO) (OMX:SMF) ("SEMAFO") reports that over the weekend we began transportation of people by helicopter from the Boungou Mine site.

Benoit Desormeaux, President and CEO of SEMAFO states: "Many of the people on-site need to be home with their families and to recover from last week's incident. Myself and most of our senior management team are in-country ensuring all those affected are getting the support they require. Our priority continues to be their safety, security and well being."

A total of 241 of our employees, contractors and suppliers were involved in the attack. Our current estimates have 39 fatalities, 60 injuries, 141 accounted for and one remains unaccounted for.

In addition to the impact on people, the unprecedent scale and nature of the attack has made basic administration and logistics very difficult. It will take some time to evaluate the new operating environment and to assess how we will be able to operate in a safe and secure manner in Burkina Faso. Until such time the Boungou Mine operations will continue to be suspended .

The Corporation would like to again express its sincere condolences to families of the victims in addition to its firm support of Burkina Faso's security forces.

About SEMAFO

SEMAFO is a Canadian-based intermediate gold producer with over twenty years' experience building and operating mines in West Africa. The Corporation owns two mines, the Mana and Boungou Mines in Burkina Faso. SEMAFO is committed to building value through responsible mining of its quality assets and leveraging its development pipeline.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. All statements other than statements of present or historical facts are forward-looking. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as "will", "some time", "evaluate", "assess", "able to", "committed", "building", "leveraging", "development", "pipeline" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability to be able to operate in a safe and secure manner and to execute on our strategic focus, fluctuation in the price of currencies, gold or operating costs, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays, political and social stability in Africa (including our ability to maintain or renew licenses and permits) and other risks described in SEMAFO's documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO's 2018 Annual MD&A, as updated in SEMAFO's 2019 First, Second and Third Quarter MD&As, and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. These documents are also available on our website at www.semafo.com. SEMAFO disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.

SOURCE SEMAFO

View original content: http://www.newswire.ca/en/releases/archive/November2019/11/c4091.html

SOURCE: SEMAFO

SEMAFO: John Jentz, Vice-President, Corporate Development & Investor Relations,
Email: John.Jentz@semafo.com; Ruth Hanna, Analyst, Investor Relations, Email:
Ruth.Hanna@semafo.com, Tel. local & overseas: +1 (514) 744 4408, North America
Toll-Free: 1 (888) 744 4408, Website: www.semafo.com

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