4.29.2008 - 12:44pm ET

(CSRwire) MONTREAL, QUEBEC--(Marketwire - April 29, 2008) - SEMAFO (TSX: SMF), a Canadian-based mining company with gold exploration and production activities in West Africa today announced that it has been selected as a finalist for the 2008 Alpha Awards.

"We are pleased to be in the running for such a prestigious award," said Benoit La Salle, Semafo's President and CEO. "This nomination further corroborates Semafo's efforts and determination to evolve conscientiously to become a major player in our geographical area of interest. At Semafo we strive not only to be good corporate citizens, but to make a difference and ultimately improve the quality of life in the communities in which we operate."

In 2007, Semafo's contributions to the west-African countries included:

Kiniero, Guinea

- Support traditional authorities, village wise men during religious
ceremonies/celebrations
- Construction:
- Schoolhouse with 3 classrooms
- Balan district office
- Kiniero health centre
- Cultural centre
- Franco-Arab School
- Structure for Balan outdoor market
- Renovation of the Balan mosque and sanitation facilities
- Donations to the villages for fire prevention, pilgrimages and religious holidays
- Spraying of the village's main routes to minimize dust
- Provide financial support and supplies to students and professors
- Medical consultations:
- 2007: 8,036
- 2008: 1,537

Samira Hill, Niger

- Champion local, traditional celebrations for employees and their families
- Support traditional tribal ceremonies/celebrations
- School supplies for 6 villages
- Road construction and repair
- Construction of 4 classrooms, including furniture
- Provide cellular telephone access
- Provide electricity
- $2,000 investment for maintenance of wells
- Purchase and donation of:
- 4 grain mills
- 2 tractors
- Medical consultations: 2007: 8,016 including 30 medical evacuations to
Niamey, and 24 childbirths

Mana, Burkina Faso

- Champion local traditional ceremonies/celebrations
- Restoration of 36 school desks and chairs
- Repairs to the main road to Boromo
- Relocation of 2 villages
- Construction:
- 425 houses
- 4 wells
- 1 church
- 1 mosque
- 1 youth centre
- 2 women's centers
- Medical consultations:
- 2007: 3,285
- 2008: 810

"We are proud of our accomplishments in 2007 and remain dedicated to making a difference to build a better tomorrow," said Mr. La Salle. "This nomination is a testimony to the individual contributions of each and every employee to the overall success of the organization," said Benoit Desormeaux, Executive Vice-President and Chief Operating Officer, "from the operations teams, including our expatriates, in Niger, Guinea and Burkina Faso to the staff at our head office in Montreal, I believe that we will all share a sentiment of accomplishment as a result of this nomination."

The Alpha Awards are presented by the Chamber of Commerce and Industry of Saint-Laurent, Quebec, Canada, to recognize organizational excellence, performance and social responsibility. Winners will be announced at the Gala Alpha, May 15, 2008.

About SEMAFO

Semafo is a Canadian-based mining company with gold production and exploration activities located in West Africa. The Company currently operates three gold mines in Burkina Faso, Niger and Guinea. Semafo is committed to evolve in a conscientious manner to become a major player in its geographical area of interest, while maintaining values and strengthening relationships to increase shareholder value.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding expectations of the Company as to the market price of gold, strategic plans, future commercial production, production targets, timetables, mining operating expenses, capital expenditures, and mineral reserve and resource estimates. Forward-looking statements involve known and unknown risks and uncertainties and accordingly, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, uncertainty as to calculation of mineral reserves and resources, risks related to hedging strategies, risks of delays in construction, requirements of additional financing and other risks described in the Company's documents filed from time to time with Canadian securities regulatory authorities. Although the Company is of the opinion that these forward-looking statements are based on reasonable assumptions, those assumptions may prove to be incorrect. Accordingly, readers should not place undue reliance on forward-looking statements. Readers can find further information with respect to risks in the Annual Information Form of the Company and other filings of the Company with Canadian securities regulatory authorities available at www.sedar.com. The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.

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