SEMAFO Confirms Continuity of the High Grade Siou Zone:

SEMAFO Confirms Continuity of the High Grade Siou Zone: Including
Values of Up to 19.22 g/t Au (23.05 g/t Au Uncut) Over 4 Meters 
MONTREAL, QUEBEC -- (Marketwire) -- 11/20/12 -- SEMAFO
(TSX:SMF)(OMX:SMF) today announced follow-up drilling results from
its high-grade Siou zone located approximately 15 kilometers east of
the Mana mill. The central 700 meters of the zone demonstrate ongoing
good continuity of the high-grade quartz vein zone with local
swelling ranging up to 10 meters wide (e.g. hole MRC12-2161: 5.58 g/t
Au across 10 meters). In addition, other associated structures not
presented in the table below have returned grades higher than
previously obtained similar to the main Siou zone. For example, hole
MRC12-2376 returned 10.85 g/t Au across 3 meters (11.88 g/t Au uncut)
at a depth of 137 meters. 
Following the discovery of the Siou zone in August 2012, a follow-up
reverse-circulation ("RC") drilling program was completed in October
2012 to reduce spacing from 200 meters to 100 meters within the core
800 meters of strike length (sections 1321400N to 1322200N). In
addition, a 200 meter-long section of the zone (section 1321800N to
1322000N) was drilled at 50-meter spacing to refine the
interpretation and establish the continuity of the high grade vein
zone. A total of 43 RC holes (5,612 meters) covering six new fences
were drilled. The following table presents the new drilling
highlights, while a complete table of all Siou zone intercepts to
date (including results reported on August 29, 2012) is presented in
Appendix 1. 
Siou Zone Follow-up Drilling Highlights 


 
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DDH No.           Section (N)    From (m)      To (m)     Au(i) / Length(ii)
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MRC12-2394            1322200         134         137         7.64 g/t / 3 m
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MRC12-2172            1321950         133         135         3.79 g/t / 2 m
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MRC12-2163            1321850          24          30         2.25 g/t / 6 m
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MRC12-2164            1321850          14          21         3.87 g/t / 7 m
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MRC12-2370            1321850         107         111         9.48 g/t / 4 m
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                                                           (12.51 g/t uncut)
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MRC12-2371            1321850          65          70         8.54 g/t / 5 m
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                                                            (9.94 g/t uncut)
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MRC12-2161            1321800          21          31        5.58 g/t / 10 m
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MRC12-2173            1321800          63          66        12.15 g/t / 3 m
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                                                           (13.98 g/t uncut)
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MRC12-2174            1321800         102         106        19.22 g/t / 4 m
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                                                           (23.05 g/t uncut)
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MRC12-2175            1321800         144         147        10.66 g/t / 3 m
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                                                           (15.00 g/t uncut)
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MRC12-2376            1321600          97         103         8.41 g/t / 6 m
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                                                            (8.53 g/t uncut)
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MRC12-2377            1321600          53          55         4.70 g/t / 2 m
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MRC12-2378            1321600          24          28         6.55 g/t / 4 m
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(i) All individual samples are cut at 30 g/t Au as per Nyafe Deposit        
procedures.                                                                 
(ii)All lengths are measured along the hole axis, which is interpreted to be
roughly equivalent to true widths.                                          

 
As shown in the above table, on Figure 1 and in Appendix 1, a
continuously high-grade core can be traced between sections 1321500N
and 1322200N, while more sporadic high grades were obtained on the
lateral extents. The high-grade core appears to plunge shallowly
towards the north and remains open below the drilled depth of 130
meters vertically. Furthermore, related structures flanking the main
Siou vein have returned values higher than previously obtained such
as hole MRC12-2376, which returned 10.85 g/t Au across 3 meters
(11.88 g/t Au uncut). The potential of the subsidiary zones and their
geological relationship with the main zone have yet to be
established.  
During the month of October four preliminary metallurgical test
samples from the Siou main zone were sent to SGS SA South Africa
laboratories, the results of which are expected in the first quarter
2013. Meanwhile, drilling along the Siou-Kokoi trend is ongoing in
order to identify new zones of mineralization. Results of this
program are expected by the end of 2012. 
SEMAFO is currently compiling the Siou data in order to include the
new discovery in the 2012 year-end resource estimate. In addition, a
delineation drilling program is currently underway and is expected to
be completed in the first half of 2013. 
Michel Crevier, P.Geo, MScA, Vice-President Exploration and Mine
Geology is SEMAFO's Qualified Person and has reviewed this press
release for accuracy and compliance with National Instrument 43-101. 
All individual samples represent approximately one-meter in length of
core, which was sawn in half. Half of the core is kept on site for
reference and its counterpart is sent for preparation and gold
assaying to the ALS Mineral Division laboratories in Ouagadougou,
Burkina Faso or to SEMAFO's Mana Mine Lab which uses separate sample
preparation equipment exclusive to exploration samples. For RC and
air core drilling, all individual samples represent approximately
one-meter in length of rock chips homogenized and riffle-split to an
approximate two-kilogram subsample, which is sent for preparation and
gold assaying to the ALS Mineral Division laboratories in
Ouagadougou, Burkina Faso or to SEMAFO's Mana Mine Lab. Each sample
(core and RC) is fire-assayed for gold content on a 50-gram
subsample. In addition to ALS Mineral Division's own QA/QC (Quality
Assurance/Quality Control) program and Mana Lab's own QA/QC program,
an internal quality control and quality assurance program is in place
throughout the sam
pling program, using blind duplicates, blanks and
recognized industry standards. 
About SEMAFO  
SEMAFO is a Canadian-based mining company with gold production and
exploration activities in West Africa. The Corporation currently
operates three gold mines: the Mana Mine in Burkina Faso, the Samira
Hill Mine in Niger and the Kiniero Mine in Guinea. SEMAFO is
committed to evolve in a conscientious manner to become a major
player in its geographical area of interest. SEMAFO's strategic focus
is to maximize shareholder value by effectively managing its existing
assets as well as pursuing organic and strategic growth
opportunities. 
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS 
This press release 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 "expected", "will", "committed",
"evolve", "become", "pursuing", "growth", "opportunities" 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 of the
ongoing drilling along the Siou-Kokoi trend to identify new zones of
mineralization, the ability of the foregoing drilling program to
produce results by the end of 2012, the ability of the Siou zone
delineation drilling program that is currently underway to be
completed in the first half of 2013, the ability to execute on our
strategic focus, fluctuation in the price of currencies, gold or
operating costs, mining industry risks, uncertainty as to 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
2011 Annual MD&A and 2011 Annual Information Form, as updated in
SEMAFO's 2012 First Quarter MD&A, 2012, Second Quarter MD&A and 2012,
Third Quarter MD&A and other filings made with Canadian securities
regulatory authorities and available at www.sedar.com. These
documents are also available on our website at www.semafo.com. SEMAFO
disclaims any obligation to update or revise these forward-looking
statements, except as required by applicable law. 
The above information has been made public in accordance with the
Swedish Securities Market Act and/or the Financial Instruments
Trading Act. 
Figure 1 and Appendix 1 are available at this address:
http://media3.marketwire.com/docs/SMF_Fig1_app.pdf.
Contacts:
SEMAFO
Robert LaValliere
Vice-President, Investor Relations
Cell: +1 (514) 240 2780
robert.lavalliere@semafo.com 
Sofia St Laurent
Communications & Investor Relations
Tel. local & overseas: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408
sofia.stlaurent@semafo.com
www.semafo.com 
Maria Bang
Brunswick Group Stockholm
Tel: +46 (8) 410 32 189
mbang@brunswickgroup.com