Company Profile For Semafo Inc.

Semafo inc. is a Canada-based mining Company with gold production and exploration activities in West Africa. The Company operates three gold mines in Burkina Faso, Niger and Guinea. The Mana mine is located approximately 200 kilometers west of Ouagadougou, the capital city of Burkina Faso. As of December 31, 2008, the Company’s mineral reserves at Mana totaled 908,600 ounces of gold and the resources1, 021,400 ounces of gold. The Kiniero mine is located in central Guinea approximately 650 kilometers east of the capital city of Conakry. As of December 31, 2008, the Company’s mineral reserves at Samira Hill totaled 631,100 ounces of gold and the resources totalled 1,293,500 ounces. The Company’s mineral reserves at Kiniero totaled 236,400 ounces of gold and the resources totaled 669,100 ounces as of December 31, 2008.

BRIEF: For the nine months ended 30 September 2009, Semafo Inc.'s revenues increased 38% to $167.5M. Net income decreased 7% to $33M. Revenues reflect an increase in ounces sales. Net income was offset by higher mining operation expenses, increased amortization of property, plant & equipment, higher administration expenses, a rise in accretion expenses of asset retirement obligations and increased interest on long term debt.