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SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation
operates the Mana Mine in Burkina Faso, which includes the high-grade satellite Siou and Fofina deposits. SEMAFO is
committed to evolve in a conscientious manner through the responsible development of its Mana property.
OVERVIEW
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MANA: EXTENSIVE PROPERTY
Operator of the Mana Mine, Burkina Faso
• Permitted and farm-in property portfolio exceeding 4,500 km2
Permitted land and
• Mana’s reserves (P&P) of 2.3M oz of gold (Dec. 31, 2013)
farm-in agreements: 2,937 km2
• 2013 gold production at Mana of 158,600 ounces
• 2013 gold sales at Mana of $226.6 million
• 2013 total cash cost of $790 per ounce(1)
• Six consecutive years of achieving annual production guidance
• No debt, cash position of $112M (September 30, 2014)
• Mana’s 2014 exploration project budget:
- $20M focused on the Siou intrusive sector
2014 OUTLOOK AT MANA
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Production of between 230,000-235,000 oz of gold
Total cash cost(1)of between $660 - $675/oz
Q3 2014 production of 64,700 oz of gold at a total cash
cost of $555 per ounce
Achieved full mining rates at Siou and Fofina in Q2
Drill results from the Siou sector and from the Banfora
Gold Belt are anticipated in Q4 2014
Farm-in agreements on
15 permits: 1,600 km2
Capital city
Mana Mine
SEMAFO property
Other mines
Power line
OUR STRATEGY
Generate Future Cash Flow
► Create value by generating future cash flow
► Exploration & discovery build future cash flow
► Production realizes value
COMPANY SNAPSHOT (As at November 17, 2014)
Ticker
Shares Outstanding
Market Cap
> TSX, OMX: SMF
> 277M
> C$0.9B
Total cash cost per ounce is a non-IFRS financial performance measure with no standard definition under IFRS and represents the mining operation expenses and government royalties per ounce sold.
(1)
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HIGH-GRADE SIOU SECTOR:
SEMAFO’S MOST IMPORTANT DISCOVERY TO DATE
FARM-IN AGREEMENTS ON 15 PERMITS
BANFORA GOLD BELT 183 KM SOUTH OF MANA
m
P&P reserves: 4.8 Mt @ 4.94 g/t Au (769,300 oz)
M&I resources: 2.1 Mt @ 2.34 g/t Au (156,200 oz)
Inferred resources: 6.2 Mt @ 3.97 g/t Au (795,300 oz)
96% gold recovery (CIL)
Reserves to a depth of ≈180 meters
Zone dips 45 to 60 degrees eastward
Siou Sector width averages between 4 to 4.5 m
Open laterally and at depth
Located 15 km from Mana processing plant, within trucking distance
Minimally affected by variations in the price of gold
115
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MANA PROPERTY
Mana processing plant
Wona-Kona
Reserves:
17,535,400 mt @ 2.20 g/t Au
1,239,900 oz
Siou
Fofina
Reserves:
2,757,100 mt @ 2.68 g/t Au
237,700 oz
Note: All mineral resources are exclusive of mineral reserves.
As at December 31, 2013
FORWARD-LOOKING STATEMENT
This fact sheet contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from
those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as “committed”, “guidance”,
“focused”, “anticipated”, “strategy”, and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements
include the ability to meet our 2014 guidance with respect to ore processed, head grade, recovery, ounces produced, total cash cost per ounce, the ability to spend $20 million in exploration in 2014, fluctuation in the price of
currencies, gold or operating costs, mining industry risks, uncertainty as to the calculation of mineral reserves and resources, delays, political and social stability in Africa (including our ability to maintain or renew licenses and
permits) and other risks described in SEMAFO’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO’s 2013 Annual MD&A, as
updated in SEMAFO’s 2014 First, Second and Third Quarter MD&A, and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. Documents are also available on our website at
www.semafo.com. These forward-looking statements are dated as of November 17, 2014 and we disclaim any obligation to update or revise these forward-looking statements, except as required by applicable law.
We also advise you that the terms “Inferred Resources” and “Indicated Resources”, although recognized and required by the Canadian Securities Administrators, are not recognized by the US Securities and Exchange
Commission. There is no certainty that Inferred Resources or Indicated Resources will be economically mineable.
All amounts are in US dollars unless otherwise stated.
For more information, contact:
SEMAFO
Tel local & overseas: +1 (514) 744 4408
Toll-Free: 1 (888) 744-4408
Website: www.semafo.com
Robert LaVallière, PGeo, MBA
Vice-President, Corporate Affairs & Investor Relations
Tel: +1 (514) 744-4408, Ext. 3405
Email: [email protected]
Ruth Hanna
Communications & Investor Relations
Tel: +1 (514) 744-4408, Ext. 3400
Email: [email protected]