SEMAFO and GoviEx Close Uranium Transaction



    SEMAFO TSX-SMF

    MONTREAL, Feb. 28 /CNW Telbec/ - SEMAFO Inc. (TSX-SMF) and Govi
High-Power Exploration Inc. (GoviEx) announced today that they have closed the
transaction to combine their uranium interests thereby creating an
Africa-focused uranium exploration, development and production company.
    At closing, Semafo received 10,000,000 common shares of GoviEx in
exchange for its shares in Semafo Energy Barbados.
    Additional details of the transaction can be found in the SEMAFO/GoviEx
news release of February 14, 2008, which can be found on SEMAFO's website at
www.semafo.com .

    About GoviEx

    GoviEx is a private mining company focused on exploration, development
and production from the high-grade Madaouela uranium deposits (+0.2%-0.3%
U308) in the West African nation of Niger. GoviEx's advanced-stage properties
are located within 10 kilometres of the Areva mines Somair/Cominak - which
currently account for 100% of Niger's uranium production. Niger is the world's
fourth-largest uranium producer, accounting for approximately 9% of global
production.

    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 start-up.
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 to 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 further information:

For further information: SEMAFO: Benoit La Salle, President & CEO, (514)
744-4408, blasalle@semafo.com; GoviEx (North America): Matthew Hornor: (604)
331-9895; (Singapore) Robert Saunders: +65.9235.0410; Renmark:  Maurice
Dagenais: mdagenais@renmarkfinancial.com; Eric St-Pierre:
estpierre@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717,  
www.renmarkfinancial.com

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