Semafo has no exposure to ABCP



    TSX-SMF

    MONTREAL, Aug. 22 /CNW Telbec/ - SEMAFO (TSX - SMF) reports that it has
no exposure to Canadian asset backed commercial paper.
    Semafo's cash, cash equivalents and restricted cash of US $52 millions as
of June 30, 2007 is invested in highly rated liquid instruments with large
financial institutions.

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

    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.

    Semafo is a mining company whose mission is to explore, develop and mine
    major mineral deposits in West Africa. Semafo currently operates the
    Kiniero mine in Guinea, the Samira Hill mine in Niger and the Mana
    project in Burkina Faso, currently in construction.




For further information:

For further information: SEMAFO: Benoit La Salle, President & CEO, (514)
744-4408, Fax: (514) 744-2291, blasalle@semafo.com; RENMARK FINANCIAL
COMMUNICATIONS INC.: Tina Cameron: tcameron@renmarkfinancial.com; Christopher
Wells: cwells@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com; More extensive information on Semafo can be found on
our home page at http://www.semafo.com

Organization Profile

SEMAFO INC.

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