SEMAFO Inc.

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Montreal, Quebec, September 28, 2011 – SEMAFO (TSX: SMF) today announced the Corporation’s decision to apply for a dual listing of its common shares on the NASDAQ OMX Stockholm exchange in Sweden. The listing is expected to be on or about October 20, 2011, subject to regulatory approvals. No new shares will be issued as part of the secondary listing, but current shareholders will be able to convert their shares traded on the Toronto Stock Exchange to shares traded on NASDAQ OMX Stockholm.

Commenting on the milestone, Benoit La Salle, SEMAFO’s President and Chief Executive Officer said, “When SEMAFO was founded in 1995, it was a grassroots exploration company with the vision to build an ethical, reputable world-class gold-producing company.

SEMAFO has grown from a grassroots exploration company to a three-mine gold producer. Our operations have evolved, essentially owing to our unique savoir-faire, and today provide our Corporation with a solid platform for sustainable growth. In 2010, we achieved record production, revenues, net income, cash flow from operating activities and operating cash flow per share, while our cash operating cost remained comparable to the previous year.

All individual samples represent approximately one-meter in length of rock chips homogenized and riffle-split to an approximately 2-kilogram sub-sample, which is sent for preparation and gold assaying at the ALS Chemex laboratories in Ouagadougou, Burkina Faso. Each sample is fire-assayed for gold content on a 50-gram sub-sample at the same ALS Chemex laboratories.

The 2011 exploration program at Mana included a total of 71,839 meters of core drilling, 235,879 meters of reverse-circulation/air core (“RC/AC”) drilling, and 132,843 meters of auger drilling. As many as four core rigs, four RC/AC rigs and six auger rigs were in operation on the property at any given time during the year. Approximately 90% of core drilling was dedicated to delineating the Wona SW and Kona zones and extending their mineralizations laterally under the current open pit.

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