Published: February 9, 2016 |

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Roxgold Inc. has continued to advance construction of the Yaramoko Gold Project.

The Yaramoko Gold Project has advanced considerably with significant infrastructure packages now complete. Underground mine development rates are ahead of plan and the project continues to track on time and on budget with the first gold pour remaining on schedule for next quarter.

Work progressed across the property with all contractors mobilized and established. In January, the project personnel levels peaked at 750 people on site. At the end of January, the company had spent approximately US$64 million and remains on target to complete the project within the budget of US$110.8 million.

“We are very pleased with the progress on the Project in recent months. With a number of important infrastructure works now complete, the team is focusing on underground development and the start of commissioning activities,” said John Dorward, president and CEO of Roxgold.

Bulk earthworks are complete and the TSF and the water storage facility are being handed over to the operations group.

During the month of December 2015, the underground mine access infrastructure was completed with the Armtec tunnel installed and the boxcut backfilled.

Underground development has advanced well, with the underground contractor, African Underground Mining Services (AUMS), delivering several months of above plan development rates. Total development meterage stood at 1,237 meters as at the end of January against a planned level of 972 meters.

As at the end of January 2016, the ramp had advanced 610 meters from the portal and level development was advancing on four levels, namely the 5270, 5253, 5236 and 5219 levels. Since the last update, the deposit has been cross-cut at the above mentioned four levels, exposing the 55 zone vein. The company is encouraged by what has been observed here with the orebody and thickness consistent with that of the block model. Initial chip sampling of the crosscuts indicate that ore grades are also consistent with expectations.

The vent raise contractor, Bauer Drilling, is on site and has completed the pilings for the first vent raise. Initial site works for the raise boring contractor, Murray & Roberts, are well advanced. All equipment associated with the final installation of the ventilation fans are on site.

Construction of the surface mine infrastructure, including workshops, offices and back-up power station remain on schedule. The surface settling ponds are complete and the recycling of underground water has commenced.

AUMS is fully mobilized with a full complement of personnel and equipment for pre-production and operational phases on site.

PROCESSING PLANT

Construction of the processing plant by the lump sum engineering, procurement and construction (EPC) contractor, the DRA/Group Five Joint Venture, is approximately 80 percent complete.

All procurement associated with the EPC contract is completed with approximately 90 percent of the mechanical equipment on site and awaiting installation. The balances of the remaining packages are either in Burkina Faso or en-route from ports in Ghana or Cote D’Ivoire.

Plant civil and concreteworks are complete and the majority of structural steel has been erected.

Key mechanical packages such as the thickener, kiln, screens, cyclone pack, agitators, carbon transfer pumps, reagent mixing and crusher plant have been received on site and installed.

The carbon-in-leach (CIL) tanks had been erected to their full height by the end of January with top of tank steel also in place.

The workshop, warehouse and reagent storage sheds are complete. The site office, mess and security buildings are scheduled to be completed and occupied in March 2016.

Handover and commissioning processes have commenced across the site and physical commissioning of key packages will commence in February 2016.

The Yaramoko Gold Project remains on schedule to pour first gold in Q2 2016.

About Roxgold
Roxgold is a gold exploration and development company with its key asset, the high grade Yaramoko Gold Project, located in the Houndé greenstone region of Burkina Faso, West Africa. The company is currently in construction and expects to be producing gold by Q2 2016. Roxgold trades on the TSX Venture Exchange under the symbol ROG and as part of the Nasdaq International Designation program with the symbol OTC: ROGFF.

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