Mr. Benoit La Salle reports

SEMAFO ANNOUNCES SECOND QUARTER GOLD PRODUCTION OF 60,500 OUNCES

Semafo Inc. had production totalling 60,500 ounces of gold for the three-month period ended June 30, 2012, with gold sales of $98.4-million. (All amounts are in U.S. dollars unless otherwise indicated.) The company also disclosed that its second quarter financial results will include a non-recurring loss resulting from the sale of a short-term investment.

The average realized gold price for the quarter was $1,615 per ounce, generating revenues of $98.4-million. This compares with an average realized gold price of $1,519 per ounce for total revenues of $100.4-million in the corresponding period in 2011.

"Gold production decreased slightly at Mana during the second quarter to 42,500 ounces due to pit transition," said Benoit Desormeaux, executive vice-president and chief operating officer. "Our Samira Hill mine had a very good quarter, exceeding our expectations with production of 13,800 ounces of gold. Milling operations resumed at our Kiniero mine in April with gold production totalling 4,200 ounces for the quarter. Overall production for the second quarter is in line with our objectives, and we remain confident that we will achieve our annual production guidance of between 235,000 and 260,000 ounces of gold."

Commenting on the quarter, Benoit La Salle, Semafo's president and chief executive officer, said: "In our first quarter 2012 financial statements, we noted an unrealized loss related to short-term investments in quoted equities that were subject to large downward changes in the fair market value. In the second quarter, we sold an investment and accordingly will record a non-recurring loss of $24.3-million, for which a $9.5-million loss in value was previously recorded in comprehensive income and already reflected in our equity. Notwithstanding this loss, our cash and working capital position remains strong."

Management reaffirmed that Semafo's geology team is working in close collaboration with external consulting firms to finalize the company's updated reserve and resource estimates. Publication of the information is expected in the coming days.

Production numbers are preliminary and are subject to final adjustment.

The company's second quarter results for the three-month period ended June 30, 2012, will be released at Toronto Stock Exchange market open on Wednesday, Aug. 8, 2012. The financial statements will be available on the company's website and on SEDAR.

Semafo will host a conference call to discuss the results, as well as to provide an update on operations.

Conference call:

Date:  Thursday, Aug. 9, 2012

Time:  10 a.m. ET

Telephone (local and overseas):  1-416-981-9000

Telephone (North America):  1-800-736-7549

The conference call will feature Benoit La Salle, FCPA, FCA, president and CEO; Benoit Desormeaux CPA, CA, executive vice-president and COO; Martin Milette, CPA, CA, chief financial officer; Michel Crevier, PGeo, MScA, vice-president of exploration and mine geology, Semafo's qualified person; and Patrick Moryoussef, Eng, vice-president of mining operations.

The conference call will be archived for replay until Aug. 29, 2012. To access the archived conference call, please dial 1-800-558-5253 and enter passcode 21599113 followed by the number sign.

A live audio webcast of the conference can be accessed through Semafo's website. The webcast will be available for replay for a period of 90 days.

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