Mr. John Dorward reports

ROXGOLD DISCOVERS NEW MINERALIZED DOMAIN IN LATEST DRILLING AT BAGASSI SOUTH INCLUDING 23.6 GPT GOLD OVER 10.9 METRES

Roxgold Inc. has released the latest results from its regional exploration drilling program on the QV1 target at Bagassi South, located approximately 1.8 kilometres south of the 55 zone, as well as initial results from drilling at the 109 Zone target.

Highlights:

• 23.6 grams per tonne gold over 10.9 metres and a second interval of 8.2 grams per tonne gold over 6.0 metres in diamond drill hole YRM-15-DD-BGS-083;
• 7.5 grams per tonne gold over 10.6 metres, including 22.2 grams per tonne gold over 3.2 metres in diamond drill hole YRM-15-DD-BGS-084;
• 10.4 grams per tonne gold over 19.4 metres, including 25.1 grams per tonne gold over 7.1 metres in diamond drill hole YRM-15-DD-BGS-085.

"These latest results from Bagassi South indicate mineralization along plunge for an additional 200 metres from our previous drilling," commented John Dorward, Roxgold's president and chief executive officer. "We are encouraged by what we have seen in this program to date, as the grade and width of what we intersected has exceeded our initial expectations."

Bagassi South program summary

Today's results are from the first six holes of a 10-hole, 2,400-metre program designed with the purpose of extending the strike length of the QV1 structure at Bagassi South to the southeast of the high-grade mineralization previously encountered in the QV Prime target.

Diamond drill holes 078 to 085 extend the known limits of mineralization by approximately 200 metres along strike. The width of mineralization intersected in these holes is wider than has been typically seen at the QV1 structure. In previous drilling at the QV1 target, gold has been intersected in a discreet vein, while in this current round of drilling, gold mineralization has been intersected in a broader brecciated structure. This structure, located below a shallowly dipping and plunging mafic volcanic unit, has been intersected 30 metres to the southeast, where the structure intersects a dike. Hole 084 is approximately 50 metres down dip of hole 083, while holes 085 and 086 are drilled approximately 50 metres along strike to the southeast of hole 083 and are approximately 50 metres apart on section. Hole 087 is approximately 30 metres to the southeast of holes 085 and 086. Results for holes 086 and 087 are pending.

Diamond hole 082 targeted the QV Prime structure in the hangingwall and intersected veining and shearing with anomalous mineralization approximately 60 metres along strike from hole 056, which intersected 39.6 grams per tonne gold over 4.5 metres (see company news release dated Sept. 8, 2014).

No drilling has been conducted on the southern side of the dike to date, which is a younger crosscutting feature. This area will be a target of future exploration campaigns.

  SUMMARY OF DIAMOND DRILLING RESULTS AT BAGASSI SOUTH    

Hole ID                  From       To      G/t   Metres

YRM-14-DD-BGS-078        69.3     70.0     14.2      0.7
YRM-14-DD-BGS-079       116.8    144.6     2.27     27.9
Including               130.5    140.9      5.1     10.4
Including               138.4    140.9     18.9      2.5
YRM-14-DD-BGS-080       164.7    175.2      2.3     10.5
Including               168.5    174.2      3.6      5.7
YRM-14-DD-BGS-080a*     165.5    173.6     1.72      8.1
YRM-14-DD-BGS-081       310.1    311.1      3.3      1.0
YRM-15-DD-BGS-082       168.1    169.6     3.32      1.5
and                     253.0    254.5      1.3      1.5
YRM-15-DD-BGS-083       138.2    149.0     23.6     10.9
Including               141.0    144.8     49.1      3.7
and                     153.3    159.3      8.2      6.0
YRM-15-DD-BGS-084       183.5    194.1      7.5     10.6
Including               183.5    186.7     22.2      3.2
YRM-15-DD-BGS-085       171.5    190.9     10.4     19.4
Including               172.3    179.3     25.1      7.1
and                     199.9    200.7      9.5      0.8

* Diamond drill hole 080a was a redrill of hole 080.

True widths for QV1 intersections are estimated to be between 85 per cent and 90 per cent of reported core intervals.

The QV1 target at Bagassi South is located 1.8 kilometres to the south of the 55 zone, where Roxgold has recently commenced construction activities.

No resources have yet been estimated for the QV1 target at this time.

109 zone

At the 109 zone, 1.1 kilometres to the north of the 55 zone and the most active artisanal site on the permit, the company has completed two drill holes totalling 155 metres of diamond drilling to follow up on prospective grab samples taken from the workings of up to 15.6 grams per tonne. The holes intersected the target's north-northwest-trending shear zone with abundant alteration, quartz veining and pyrite mineralization. Anomalous gold grades were returned within this alteration and shearing, and follow-up work is planned for later in the year.

     SUMMARY OF DIAMOND DRILLING RESULTS AT 109 ZONE

Hole ID                  From       To      G/t   Metres

YRM-15-DD-109-025        48.9     49.4      2.1      0.5  
and                      50.0     51.0      1.3      1.0  
and                      63.0     66.2      1.8      4.1  
YRM-15-DD-109-026        30.7     31.4     2.65      0.8  
and                      56.0     56.0      1.5      1.1  

The company looks forward to providing further updates on the regional exploration and infill drilling programs at the 55 zone in the coming weeks.

Qualified person

Ben Pullinger, PGeo, vice-president of exploration for Roxgold, a qualified person within the meaning of National Instrument 43-101, has verified and approved the technical data disclosed this news release. This includes the sampling, analytical and test data underlying the information.

Quality assurance/quality control

Drill holes reported in this news release were drilled using NQ-sized diamond drill bits. Company personnel are located at the drill site. Contractors and employees of Roxgold conducted all logging and sampling. The core was logged, marked up for sampling using standard lengths of two metres outside of the zone and adjusted to lithological contacts up to one metre within the zone. Samples are then cut into equal halves using a diamond saw. One-half of the core was left in the original core box and stored in a secure location at the Roxgold camp within the Yaramoko area. The other half was sampled, catalogued, placed into sealed bags and securely stored at the site until it was shipped to Act Labs in Ouagadougou. The core was dried and crushed by the lab, and a 150-gram pulp was prepared from the coarse crushed material. The lab then conducted routine gold analysis using a 50-gram charge and fire assay with an atomic absorption finish. Samples returning over 5.0 grams per tonne were also analyzed by gravimetric analysis. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream. In addition, the lab inserted its own quality control samples.

We seek Safe Harbor.