Semafo Concludes Mana Gold Project Mining Convention


    MONTREAL, Oct. 11 /CNW Telbec/ - SEMAFO (TSX - SMF) announced the signing
of the Mana gold project mining convention by Dr. Abdoulaye Abdoulkader Cisse,
Minister of Mines and Energy, Burkina Faso.
    The Mining Convention was established by the government of Burkina Faso
to govern specific details relating to fiscal arrangements, taxation,
employment, land and mining guarantees, as well as environmental protection in
accordance with Burkina Faso's mining code. The Mining Convention is valid for
20 years and is renewable in 10 year increments for the full life of the
mining permit.
    Semafo is in the final phase of construction of the mine and plant
facility with commissioning scheduled for year-end.
    Semafo maintains excellent relations with the Burkina Faso government,
who is strong advocate of mining, and who has provided support and security of
title through their Ministry of Mines and Energy. The country's fiscal
procedures and policies are well established and generally consistent with
North American rules and regulations.
    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 conducting exploration,
development and production activities in West Africa. The Company currently
operates two gold mines, the Kiniero mine in Guinea and the Samira Hill mine
in Niger. A third mine, the Mana gold project in Burkina Faso, is under
construction with plant commissioning scheduled for December 2007. 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.


    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 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,; RENMARK: Tina Cameron:; Eric St-Pierre:,
(514) 939-3989, Fax: (514) 939-3717;

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890