Semafo inc. announces closing of $24,975,000 bought deal financing



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    TSX-SMF

    MONTREAL, Nov. 13 /CNW Telbec/ - Semafo inc. (SMF: TSX) today announced
that it has closed its offering of 18,500,000 common shares at a price of
$1.35 per share, pursuant to its short form prospectus dated November 6, 2007,
raising gross proceeds of $24,975,000. The net proceeds of the offering will
be used for the selective reduction of the Company's gold hedge position, and
for working capital to fund the daily operations of the business of the
Company.
    The underwriting syndicate for the offering was led by Westwind Partners
Inc. and included BMO Nesbitt Burns Inc., Merrill Lynch Canada Inc. and
Haywood Securities Inc.

    The common shares of Semafo are traded on The Toronto Stock Exchange
under the symbol "SMF".

    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 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; Renmark: Tina Cameron:
tcameron@renmarkfinancial.com; Eric St-Pierre: estpierre@renmarkfinancial.com;
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com

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SEMAFO INC.

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