SEMAFO is 100% Unhedged



    SEMAFO TSX-SMF

    MONTREAL, June 4 /CNW Telbec/ - SEMAFO Inc. (TSX: SMF) today announced
the Company has closed out the remaining ounces of its hedge program in the
normal course of business. The completion of this obligation will allow the
company to benefit from the market price of gold and improved cash generation.
    "We remain committed to the ongoing improvement of the Company's overall
performance," said Benoit La Salle, SEMAFO's President and CEO. "In today's
marketplace controlling costs, increasing production and cash flow are all
part of our commitment to increase shareholder value".
    SEMAFO was required to enter into a hedge program in 2003 when financing
construction of the Samira Hill mine in Niger.

    About SEMAFO

    SEMAFO is a Canadian-based mining company with gold production and
exploration activities in West Africa. The Company currently operates three
gold mines in Burkina Faso, Niger and Guinea. SEMAFO is committed to evolve in
a conscientious manner to become a major player in its geographical area of
interest, while maintaining principles 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 the Company's expectations 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 Company's Annual Information Form and
other filings 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, Toll-Free: 1-888-744-4408, blasalle@semafo.com; Sofia St Laurent,
Communications, (514) 744-4408, Toll-Free: 1-888-744-4408,
sstlaurent@semafo.com

Organization Profile

SEMAFO INC.

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