SEMAFO’s Mineral Reserves and Resources Increase to 7.3 Million Gold Ounces
Wona-Kona Super Pit Contains 1.7 Million Ounces in Reserves
Mana Measured and Indicated Resources Up 148% to 2.8 Million Ounces
Montreal, Quebec, July 11, 2012, 09:30 EDT – SEMAFO Inc. (TSX, OMX: SMF) today announced its 2011 year-end mineral reserve and resource statement. SEMAFO’s total mineral reserves and resources increased by 1.3 million ounces to 7.3 million ounces from 6.0 million ounces of gold, net of depletion (Table 1). SEMAFO’s reserves and resources update does not include exploration results stemming from the 2012 drilling program.
Disclosure: SEMAFO is a Vulture Bargain Candidate of Interest (VBCI). Members of the GGR team may hold long positions in SMF.T or SEMFF.