Yaramoko

completed

Roxgold Inc. (“Roxgold” or the “company”) is a gold exploration and development company listed on the Toronto Stock Exchange, with its head office in Toronto. The company is currently focused on its wholly-owned Yaramoko gold project (“Yaramoko” or the “project’). The project is located in the province of Bale in southwest Burkina Faso, approximately 200 km southwest of the capital city of Ouagadougou. The Yaramoko permit covers approximately 196km2. It is located to the east of the nearby village of the Bagassi.In April 2014, the company delivered a Feasibility Study for Yaramoko''s 55 zone. Since then, Roxgold has advanced the project through construction and expects to commence production in Q2 2016. Specifically, the construction of a 300 person camp, bulk earthworks, including excavation of box-cut, and construction of the Tailings Storage Facility (TSF) and Water Storage Dam (WSD) have commenced. Engineering, Procurement and Construction (EPC) contractors for the processing plant have been identified and are expected to mobilize and start construction within the second quarter of 2015. Equally, underground contractors have been identified and are expected to mobilize and commence the establishment of the portal to access the deposit during the same period. The Yaramoko deposit will be exploited through underground mining accessed by a ramp. Mining will incorporate blast drilling and long hole open stoping extraction with backfilling if necessary. Preliminary underground mining simulations indicate an extraction rate of 750 tons per day (tpd) – being equivalent to 270 000 tons per annum (tpa) and a life of mine of 7.3 years. The process plant will be constructed in close proximity to the underground portal to minimize truck haulage costs. The treatment process will consist of primary crushing, grinding with a single-stage SAG mill, gravity concentration, classification, leaching and adsorption, tailings thickening, electro-winning, and smelting. Milling will be carried out using a conventional cyanide leach circuit. The mining and processing facilities will be supported by appropriate infrastructure such as access roads, ventilation, workshops, explosive magazine, warehouse and reagents storage, sewage treatment facilities and laboratory etc. The plastic-lined TSF will be constructed over the life of the mine in stages. A WSD will be constructed adjacent to the TSF.Electrical power supply to the mine will be obtained from SONABEL – the national electricity utility company - grid. A four kilometer 90 kV line and associated substation facilities will be constructed. Electrical power supply will be backed up by standby generators. Roxgold will accommodate about 300 employees to maintain and manage the project. An IFC equity investment is proposed to support the company’s construction of the Yaramoko gold mine and ongoing exploration program.