SEMAFO TSX-SMF

MONTREAL, Nov. 9 /CNW Telbec/ - SEMAFO (TSX: SMF) today reported its third quarter financial and operational results for the three- month period ended September 30, 2009. All amounts are in US dollars unless otherwise stated.

Highlights for the three- and nine-month periods ended September 30, 2009

- Gold production for the three-month period ended September 30, 2009

totalled 62,300 ounces, a 13% increase over Q3 2008. For the first nine

months of 2009, overall production totalled 184,500 ounces, an increase

of 33% over the corresponding period in 2008.

- Record gold production at Mana for the quarter of 41,600 ounces.

- Gold sales amounted to $59,361,000 in the third quarter, a 16% increase

over Q3 2008. Gold sales rose to $167,502,000 for the first nine months

of this year, representing a 38% increase over the corresponding period

in 2008.

- Operating income increased by 27% year-over-year to $15,195,000 for the

three-month period, and by 52%, to $43,411,000 for the nine- month

period.

- Net income for the third quarter was $13,399,000, an increase of 25%

over the previous quarter and an increase of 18% over the same period

last year. Net income for the first nine months of 2009 totalled

$33,022,000.

- Cash flow from operating activities for the quarter totalled

$24,301,000 and $68,245,000 for the nine-month period, representing a

21% increase over Q3 2008 and a 50% increase for the nine-month period

over the corresponding period in 2008.

- Cash operating costs were $472 per ounce for the quarter and $450 per

ounce for the nine-month period.

- Average selling price per ounce was $969 for the quarter and $942 for

the nine-months ended September 30, 2009, compared to the average

London PM Gold Fix price of $960 and $931 per ounce, respectively.

- Drilling results at Mana validated the presence of significant

mineralized zones at-depth and laterally.

- An airborne geophysical survey identified the Wona structural corridor

indicating that it may extend over a distance of more than

30 kilometers. Other similar signatures were also observed over the

1,695 km2 of permitted properties.

- A preliminary economic assessment ("PEA") confirmed the economic

potential of the Wona underground deposit. The Company has decided to

proceed with a pre-feasibility study.

- Increased balance sheet strength with a debt-equity ratio of 17%,

compared to 38% as at December 31, 2008.

A Word from the CEO

SEMAFO maintained the positive momentum established in 2008. Our disciplined growth strategy resulted in a 13% increase in gold production compared to Q3 2008, and a 33% increase year-over-year for the nine months ended September 30, 2009.