SEMAFO

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September 25, 2018 at 4:20 PM (MDT)|Broadmoor Hotel & Resort

Benoit Desormeaux

President & CEO

Benoit Desormeaux, CPA, CAPresident and Chief Executive Officer
Mr. Desormeaux became President and Chief Executive Officer on August 8, 2012. Mr. Desormeaux had been our Executive Vice-President and Chief Operating Officer since 2004, and previously held the positions, successively, of Corporate Controller as well as Chief Financial Officer. Prior to joining SEMAFO in 1997, he was in the employ of Deloitte LLP involved principally in corporate audits in the manufacturing sector. Mr. Desormeaux is a Chartered Professional Accountant, a member of Ordre des Comptables Professionnels Agréés du Québec and holds a bachelor’s degree in business administration (BBA) from HEC Montréal.

SAFE HARBOR STATEMENT

This presentation contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as “budget”, “plan”, “2019-2023”, “target”, “guidance”, “forecast”, “timeline”, “outlook”, “to establish”, “to be confirmed” and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability to meet our 2019-2023 targets of 5-year average consolidated production of 413,000 oz at 5-year average $696 AISC, the ability to meet our 6-year consolidated targets in terms of production, cost and operating cash flow, the ability to meet our 2018 consolidated guidance of between 235,000 and 265,000 ounces of gold produced at an all-in-sustaining cost of between $900 and $940 per ounce, including 175,000 to 195,000 ounces of gold produced at Mana at an AISC of between $1,020 and $1,070 and 60,000 to 70,000 ounces of gold produced at Boungou at an AISC of between $545 and $570 per ounce, the ability to meet our 2018 general and administrative expense forecast of $16 million, the ability to meet our 6-year production and AISC targets at each of Boungou and Mana, the ability to develop the Siou Underground on time and on budget, the ability of our 2018 exploration program to meet its objectives, Mana’s ability to meet its 2018-2025 LOM Plan and Boungou’s ability to meet its 2018-2021 LOM Plan, the accuracy of our assumptions, fluctuation in the price of currencies, gold or operating costs, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays, political and social stability in Africa (including our ability to maintain or renew licenses and permits) and other risks described in SEMAFO’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in SEMAFO’s 2017 Annual MD&A, as updated with our 2018 First Quarter MD&A and 2018 Second Quarter MD&A and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. These documents are also available on our website at www.semafo.com. SEMAFO disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
We also advise you that the terms “Inferred Resources” and “Indicated Resources”, although recognized and required by the Canadian Securities Administrators, are not recognized by the US Securities and Exchange Commission. There is no certainty that Inferred Resources or Indicated Resources will be economically mineable.
All mineral resources are exclusive of mineral reserves.
In this presentation, all amounts are in US dollars unless otherwise indicated.

NOTICE

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The Denver Gold Group does not represent or endorse the accuracy or reliability of any third party advice, opinion, statement, information or materials received during the Gold Forum.

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