SEMAFO INC.

SEMAFO announced the positive results of a Preliminary Economic Assessment (PEA) confirming the economic potential of the Wona underground deposit. The PEA is based on December 2008 resources estimates with the inclusion of 2009 drill results up to WDC 99. The remainder of reported 2009 drilling results (WDC 100 to WDC 146) were not included in the PEA, nor does it include any inferred resources. Highlights of the PEA (using an $800/oz gold price) include Indicated resources attributable to the underground mine of approximately 4.5 million tonnes at 3.2 g/t Au diluted for over 460,000 ounces, with a mine life of more than 6 years at 2,000 tpd and cash operating cost of $43 per tonne.