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TICKERS: ROXG

Gold Miner's Drill Program Returns High-Grade Intersections
News Update

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Roxgold reported that recent drill results at its Séguéla Gold project are expected to increase current mineral resource estimates.

In a news release, Canada-based mining company Roxgold Inc. (ROXG:TSX) announced additional results from the company's drill program at its Séguéla Gold project in Côte d'Ivoire.

The firm provide detailed results from reverse circulation (RC) and diamond drilling (DD) at the Ancien and Agouti mines and RC drilling from its Boulder mine. The company highlighted that at Ancien, drill hole SGRD526 returned 12m at 13.8 g/t Au from 47m including 5m at 28.0 g/t Au from 47m.

At Agouti, the company reported that drill hole SGRD627 recorded 11m at 8.2 g/t Au from 27m including 1m at 10.3 g/t Au from 30m and 1m at 63.4 g/t Au from 33m. The RC drilling data at Boulder included drill hole SGRC672, which tallied 6m at 5.8 g/t Au from 182m including 1m at 31.3 g/t Au from 183m.

John Dorward, president and CEO of Roxgold, commented, "We continue to see the growth potential of the Séguéla Project through the efforts of our exploration team...The high-grade results from infill and extension drilling at Ancien, Agouti and Boulder were received following the cut-off for the excellent Preliminary Economic Assessment (PEA) released last week and are expected to further underpin and increase the current Mineral Resource estimates, potentially adding meaningful ounces for inclusion into the Feasibility study."

"The ongoing exploration success at Séguéla continues to highlight the potential value accretion of the project from the existing satellite pits with further upside from an additional 21 targets on the property yet to be tested," Dorward added.

The company's Vice President of Exploration Paul Weedon remarked, "These drill results illustrate the resource potential at Séguéla. We are also eagerly awaiting the results from more than 30 additional holes testing depth and strike extensions at Ancien and Agouti, with a significant grouping of holes at depth in Ancien which had visible gold marked during the logging."

The firm stated that exploration activities at the Séguéla Gold project are progressing with "the objective of extending and infilling the existing Inferred Mineral Resources within close proximity to Antenna to support the Feasibility Study." The company indicated that it has drilled 59 additional RC/DD holes at Ancien since the drill-hole data cut-off date in early February for the updated Inferred Mineral Resource estimate (261 Koz at 6.1 g/t), which was previously announced in the Séguéla PEA. The firm also indicated that "the first stage of an infill and extension drilling program at Agouti to upgrade and extend the resource confidence to Indicated status was completed and that Agouti now has an Inferred Mineral Resource estimate of 110 Koz at 2.6 g/t Au."

The company listed an estimated time-line for planned operations activities and advised that in Q2/20 it expects to release outstanding assay results from balance of Séguéla drilling and commence the expansion and geotechnical drill program at Séguéla. The company advised that it expects to file a Feasibility Study and construction decision for Séguéla in H1/21.

Roxgold is a gold mining firm based in Canada that owns two properties located in West Africa. In addition to advancing development and exploration of the Séguéla Gold project in Côte d'Ivoire, the company also owns and operates the high-grade Yaramoko Gold mine in Burkina Faso, which is situated on the Houndé Greenstone Belt.

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