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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 high potential Mana property.
OVERVIEW
MANA: EXTENSIVE PROPERTY
• Operator of the high potential Mana mine, Burkina Faso
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- Large land package totalling 2,327 km2
2013 gold production at Mana of 158,600 ounces(1)
2013 gold sales at Mana of $226.6 million(1)
2013 total cash cost of $790 per ounce(1)
Sixth consecutive year of achieving annual production guidance
Mining and production activities at the high-grade
Siou Sector commenced in the first quarter of 2014
No debt, cash position of $83M (Dec. 31, 2013)
Permitted land: 2,327 km2
2014 OUTLOOK AT MANA
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Production of between 200,000-225,000 oz of gold, a 34% increase over 2013
Total cash cost(2) of between $695 - $745/oz, down 9% relative to $790/oz in 2013
All-in sustaining cost(3) of between $840 - $890/oz
Processing of ore from Siou in Q1 2014 and Fofina in Q3 2014
► Mana’s 2014 initial exploration budget:
$18M focused on the Siou intrusive
sector, east of the processing plant
OUR STRATEGY
Generate Future Cash Flow
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Cost control and optimization programs
Disciplined capital allocation
Solid balance sheet
Strong operational performance
Disciplined exploration
Quality ounces
COMPANY SNAPSHOT (As at Feb. 24, 2014)
Ticker
Shares Outstanding
Market Cap
> TSX, OMX: SMF
> 275M
> C$1.2B
(1)
Numbers are preliminary and are subject to final adjustment.
(2)
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.
(3)
All-in sustaining cost is a non-IFRS financial performance measure with no standard definition under IFRS and represents the total cash cost, plus sustainable capital expenditures and
pre-stripping costs per ounce.
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HIGH-GRADE SIOU SECTOR:
SEMAFO’S MOST IMPORTANT DISCOVERY TO DATE
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MANA PROPERTY
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
Siou Sector thickness 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
NEW 15-KM GEOCHEMICAL ANOMALY TREND
Mana
Processing
Plant
vers Siou
Siou Sector
Reserves:
4,842,900 mt @ 4.94 g/t Au
769,300 oz
Inferred Resources:
6,227,600 @ 3,97 g/t Au
795,300 oz
Wona-Kona Zone
Bara Permit
Reserves:
18,832,200 mt @ 2.19 g/t Au
1,324,500 oz
Pompoi Nord Permit
Fofina Zone
Reserves:
2,757,100 mt @ 2.68 g/t Au
237,700 oz
Auger Drilling by Au ppb
600
to 999 999
300
100
50
to
to
600
300
100
20 km Radius
from the Plant
2.5 km
0
Geological Legend
Contact
Andesite
Felsic Intrusives
Fine Sediments
Mafic Volcanics
Wackes and Sandstones
Note: All mineral resources are exclusive of mineral reserves.
As at June 30, 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
“scheduled”, “preliminary”, “anticipates”, “guidance”, “priority”, “growth”, “estimated”, 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, operating cost per tonne, total cash cost
per ounce, total strip, waste and ore extracted, all-in sustaining cost, the ability to spend $18 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 2012 Annual MD&A, as updated in SEMAFO’s 2013 First Quarter MD&A,
2013 Second Quarter MD&A and 2013 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 February 24, 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, Investor Relations
Tel: +1 (514) 744-4408, Ext. 3405
Email: [email protected]
Communications & Investor Relations
Ruth Hanna
Email: [email protected]
Sofia St-Laurent
Email: [email protected]