Roxgold Receives Environmental Permit Approval for the Séguéla Gold Project

Roxgold Inc. (“Roxgold” or the “Company”) is pleased to announce that the Côte d’Ivoire Ministry of Environment and Sustainable Development has approved the Environmental and Social Impact Assessment (“ESIA”) for the Séguéla Gold Project. The ESIA marks a key milestone in the permitting process and is the culmination of extensive consultations and stakeholder engagement.

“The approval of the ESIA is a major achievement for our Company and brings us to the final stages of the permitting process for Séguéla,” commented John Dorward, President and Chief Executive Officer. “We would like to thank the government of Côte d’Ivoire and its permitting bodies as well as our surrounding communities for the strong support they have demonstrated for the project. The Séguéla Project continues to be a key priority for Roxgold as the project has the potential to more than double our production profile within a short time frame and without the need for additional equity. The Feasibility study remains on track for early next year and we look forward to breaking ground and continuing towards becoming West Africa’s next multi-asset producer.”

The Company’s next permitting milestones at the Séguéla Gold Project are the receipt of the Exploitation (Mining) Permit and completion of the Mining Convention negotiation process. The Company is continuing to advance the project towards the completion of a Feasibility Study early next year. Following this approval and in anticipation of a positive development decision, the Company’s board recently approved a budget of US$1.8 million to initiate early works. Approved works to commence in Q4 include a Front-End Engineering and Design study (“FEED”), upgrading site access through a road improvement program and some initial site works for the accommodation village. The intention of the early works activities is to enable a rapid ramp up to full construction next year with the aim of production commencing in 2022.

Catalysts and next steps