Mr. John Dorward reports

ROXGOLD REPORTS 77.2 GPT OVER 6.0 METRES IN NEAR-SURFACE DRILLING AT 55 ZONE, YARAMOKO MINE COMPLEX

Roxgold Inc. has released near-surface infill drilling results from the 55 zone at the Yaramoko mine complex, drilled as part of a review of opportunities for near-surface mineralization to complement the company's high-grade underground operations.

Yaramoko mine complex, Burkina Faso

Highlights from infill reverse circulation (RC) drilling:

• Six metres at 77.2 grams per tonne gold in drill hole YRM-19-RC-55Z-003 from 38 m including:
  • 1.0 m at 107 g/t Au from 39 m;
  • 1.0 m at 220 g/t Au from 42 m;
• Six m at 49.5 g/t Au in drill hole YRM-19-RC-55Z-005 from 41 m;
• 11 m at 10.1 g/t Au in drill hole YRM-19-RC-55Z-012 from 14 m;
• Four m at 16.2 g/t Au in drill hole YRM-19-RC-55Z-017 from 40 m;
• Five m at 7.2 g/t Au in drill hole YRM-19-RC-55Z-006 from 40 m including:
  • 1.0 m at 30.2 g/t Au from 41 m;
• Two m at 29.5 g/t Au in drill hole YRM-19-RC-55Z-019 from 41 m including:
  • One m at 56.1 g/t Au from 41 m;
• Six m at 23.8 g/t Au in drill hole YRM-19-RC-55Z-052 from 13 m;
• Three m at 11.3 g/t Au in drill hole YRM-19-RC-55Z-004 from 35 m;
• Seven m at 6.6 g/t Au in drill hole YRM-19-RC-55Z-032 from 36 m.

"Earlier this year we initiated a review of near-surface mineralization opportunities across the Yaramoko property to complement our high-grade underground operations. This review identified the near-surface portions of 55 zone that extend outside of the existing underground mineral resource as a priority target," stated John Dorward, president and chief executive officer. "Drilling results, which included six m at 77 g/t Au from 38 m in YRM-19-RC-55Z-003, highlight the substantial opportunity that remains in the near-surface environment to extend the mine life at Yaramoko. These results will be incorporated into an interim mineral resource and reserve update to be released in the fourth quarter of 2020.

"Extending the mine life at Yaramoko has long been a priority for us and between the success of this shallow drilling program, together with our recently commenced underground drilling program from 600 metres below surface, I am confident that we will build a compelling body of evidence over the coming quarters to showcase the long-life nature of Yaramoko. The 14,500 m underground program is designed to upgrade resources at depth and the results will be incorporated into the annual mineral resource and reserves update to be released in the first half of 2021."

Highlights from the RC drilling at 55 zone include:

• Six metres at 77.2 grams per tonne gold in drill hole YRM-19-RC-55Z-003 from 38 m including:
  • 1.0 m at 107 g/t Au from 39 m and 1.0 m at 220 g/t Au from 42 m;
• Six m at 49.5 g/t Au in drill hole YRM-19-RC-55Z-005 from 41 m;
• Five m at 7.2 g/t Au in drill hole YRM-19-RC-55Z-006 from 40 m including:
  • 1.0 m at 30.2 g/t Au from 41 m;
• 11 m at 10.1 g/t Au in drill hole YRM-19-RC-55Z-012 from 14 m;
• Four m at 16.2 g/t Au in drill hole YRM-19-RC-55Z-017 from 40 m;
• Four m at 7.5 g/t Au in drill hole YRM-19-RC-55Z-018 from 30 m;
• Two m at 29.5 g/t Au in drill hole YRM-19-RC-55Z-019 from 41 m including:
  • One m at 56.1 g/t Au from 41 m;
• Three m at 11.3 g/t Au from 35 m in drill hole YRM-19-RC-55Z-004;
• Seven m at 3.6 g/t Au from 15 m in drill hole YRM-19-RC-55Z-020;
• Seven m at 6.6 g/t Au from 36 m in drill hole YRM-19-RC-55Z-032;
• Seven m at 5.0 g/t Au from 40 m in drill hole YRM-19-RC-55Z-034;
• Six m at 23.8 g/t Au from 13 m in drill hole YRM-19-RC-55Z-052.

The results of this drilling program, in addition to the historical drill results and remnant halo mineralization, will be incorporated into an updated mineral resource and reserve estimate to be released in the fourth quarter of this year. Alongside the surface program, Roxgold has recently initiated a 14,500 m underground drill program aimed at primarily converting underground inferred resources to indicated resources in support of its annual mineral resource and reserve estimate update to be released in the first half of next year.

We seek Safe Harbor.

Matt Falk condensed this news release (matthewf@stockwatch.com).