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TORONTO–(BUSINESS WIRE)–Roxgold Inc. (“Roxgold” or the “Company”) (TSX: ROXG) (OTC: ROGFF) is admiring to advertise added infill and addendum conduct after-effects from the Ancien drop at the Company’s Séguéla gold activity (“Séguéla”) amid in Côte d’Ivoire.

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Highlights from Ancien:

Reverse Circulation (“RC”) and Design (“DD”) drilling

Infill Drilling

Extension Drilling

“We abide to see the advance abeyant of the Séguéla Activity through the efforts of our appraisal team,” declared John Dorward, President and Chief Executive Officer. “The continuing aerial brand after-effects from infill and addendum conduct at Ancien added affirm the accomplished Preliminary Bread-and-butter Assessment after-effects appear afresh and are accepted to add allusive ounces for admittance into the Achievability abstraction aboriginal in 2021. With four rigs currently turning, I am assured that we will abide to ascertain added upside from the absolute four deposits as able-bodied as near-term targets on the acreage which are yet to be tested.”

Paul Weedon, Vice President Appraisal commented “The aboriginal two after-effects from this 6 aperture infill affairs infilling of the aerial brand shoot are absolute auspicious and associate able-bodied to the aerial levels of arresting gold apparent in the samples. Designed to affirm geostatistical abutment for the absolute aerial brand and connected attributes of the Ancien mineralized shoot, I am agilely anticipating the absolute results. Also, the latest addendum conduct after-effects abide to highlight the ability upside at Ancien and chase on from the contempo accomplished after-effects appear on April 29th which included 10m at 59.4 g/t from SGRD705 and which is alfresco of the conceptual carapace acclimated for the PEA. These new after-effects accept connected the bang admeasurement at abyss by an added 50m to the south area it charcoal open, while the 7m at 28.8 g/t in SGRD725 emphasises the arising aerial brand abeyant of the hangingwall shoot, which additionally charcoal accessible forth strike.”

Séguéla Project

Exploration activities accept connected to advance to extend and infill the absolute Inferred Mineral Resources aural adjacency to Antenna to abutment the Achievability Study. Agouti, Boulder and Ancien, are aural 10 kilometres of the Antenna drop (Figure 1).

Figure 1. Séguéla Satellite Prospects

Ancien

An added 69 RC/DD holes accept been completed at Ancien back the assignment aperture abstracts absolute date (February 12th, 2020) acclimated to abutment the Inferred Ability appraisal in the PEA of 261,000 ounces (refer Aggregation absolution April 14th, 2020). Added to the after-effects from 59 holes appear in April (refer Aggregation releases anachronous April 20th and April 29th, 2020), we accept accustomed after-effects from 8 assignment holes completed back the resumption of acreage activities in backward May.

These best contempo after-effects (illustrated in Figure 2) reflect the two objectives of the accepted programs, namely a committed infill affairs for geostatistical abutment of the absolute aerial brand and connected attributes of the bulk Ancien mineralization, and targeting abyss and bang extensions to the high-grade bulk above the PEA US$1,550/oz conceptual pit shell.

The after-effects from the aboriginal two of six holes of the aerial brand infill affairs highlight the ample attributes of aerial brand intervals, both forth bang as able-bodied as above the mineralized zone, and associate able-bodied with the aerial levels of arresting gold logged in the samples. The absolute four accomplished intervals additionally recorded agnate levels of arresting gold during logging and these after-effects will be accessible in the advancing weeks.

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Drill testing of the down-plunge addendum continues to aggrandize the shoot to the south with after-effects such as 14m at 4.3 g/t from SGRD723 and 14m at 2.6 g/t from SGRD720, accretion the bang breadth to at diminutive 250m area it charcoal accessible above 350m beneath surface. Lower brand after-effects from SGRD724 (3m at 1.0 g/t Au) supports an admiration of a bit-by-bit flattening in the attempt of the basic area of mineralization.

Extension conduct testing the bottomward attempt projections of the arising aerial brand hangingwall lode was additionally acknowledged with SGRD725 intersecting 7m at 28.8 g/t, about 75m beneath the conceptual pit abject and added acknowledging the aerial brand attributes of this added aerial brand lode, and chase on from the contempo SGRD715 (3m at 26.1 g/t) and SGRD541 (4m at 17.4 g/t) after-effects (refer Aggregation absolution April 29th) and which additionally charcoal accessible at abyss and forth bang to the north.

Figure 2. Highlights of the Ancien after-effects and appraisal status

Figure 2 additionally highlights the admeasurement of added aerial brand mineralization above what was acclimated to abutment the PEA, in accurate the down-plunge extensions above the conceptual pit shell. The ability infill affairs aural the conceptual carapace has additionally connected mineralization forth bang to the south and accent the abeyant for added ability growth.

Highlights from the best contempo conduct at Ancien include:

Infill Drilling

Extension Drilling

Click actuality to appearance the abounding advertisement of assignment after-effects from the contempo conduct programs at the Séguéla Gold Project. Note: all after-effects are appear as down-hole intervals which represent about 80% of accurate width.

Geotechnical Drilling

Good advance has been fabricated with all geotechnical conduct completed for Ancien, Antenna, Agouti and Boulder for admittance into the accessible pit architecture basic of the achievability study. Samples are in the action of actuality forwarded to Perth, Western Australia for bedrock acreage analysis. Antecedent acreage logging supports the assumptions acclimated for the PEA inputs into the US$1550 conceptual pit shells.

Catalysts and Next Steps

Event

Timing

Ongoing infill, amplification and Feasibility-support conduct affairs at Séguéla

Q3 2020

Satellite ambition appraisal at Séguéla

H2 2020

Drilling after-effects from Boussoura

H2 2020

Underground conduct affairs in 55 Area at Yaramoko Mine Complex

H2 2020

Feasibility Abstraction for Séguéla

H1 2021

Séguéla architecture decision

H1 2021

Quality Assurance/Quality Control

All conduct abstracts completed by Roxgold activated the afterward procedures and methodologies. All conduct was agitated out beneath the administration of Roxgold personnel.

RC conduct acclimated a 5.25 inch face sampling aeriform bang with samples calm into 60 litre artificial bags. Samples were kept dry by advancement abundant air burden to exclude groundwater inflow. If baptize admission exceeded the air pressure, RC conduct was stopped, and conduct adapted to design bulk tails. Aircore (“AC”) conduct was calm in one accent intervals and sampled in a agnate appearance to RC methods. Once collected, RC and AC samples were riffle breach through a three-tier splitter to crop a 12.5% adumbrative sample for acquiescence to the analytic laboratory. The balance 87.5% sample were stored at the assignment armpit until appraisal after-effects were accustomed and validated. Base adios samples for all mineralized samples agnate to cogent intervals are retained and stored on-site at the Aggregation controlled bulk yard.

DD assignment holes were accomplished with HQ sized design assignment bits. The bulk was logged, apparent up for sampling application accepted lengths of one metre. Samples were again cut into according behindhand application a design saw. One bisected of the bulk was larboard in the aboriginal bulk box and stored in a defended area at the Aggregation bulk backyard at Séguéla. The added bisected was sampled, catalogued and placed into closed accoutrements and deeply stored at the armpit until shipment.

All Séguéla RC, AC and DD bulk samples were alien to ALS Laboratories alertness class in Yamoussoukro for preparation. Samples were broiled and ashamed by the Lab and a 250-gram breach able from the base ashamed material, above-mentioned to pulverization and alertness of a 200g sample. Samples are again alien via bartering bagman to ALS’s analytic ability in Ouagadougou, Burkina Faso area accepted gold appraisal application a 50-gram allegation and blaze appraisal with an diminutive assimilation accomplishment was completed. Affection ascendancy procedures included the analytic admittance of blanks, duplicates and sample standards into the sample stream. In addition, the Lab amid its own affection ascendancy samples.

Qualified Person

Paul Weedon, MAIG, Vice-President, Appraisal for Roxgold Inc., a Qualified Person aural the acceptation of National Instrument 43-101, has advised and accustomed the accurate and abstruse acknowledgment independent in this account release, including the QA/QC, sampling, analytic and analysis abstracts basal this information. Mr. Weedon absolute the advice in the account absolution by reviewing the assignment logs, geological interpretations and acknowledging analytic data. No limitations were imposed on Mr. Weedon’s analysis process. For added advice on the Company’s QA/QC and sampling procedures, amuse accredit to the Company’s Anniversary Advice Anatomy anachronous December 31, 2018, accessible on the Company’s website at www.roxgold.com and on SEDAR at www.sedar.com.

About Roxgold

Roxgold is a Canadian-based gold mining aggregation with assets amid in West Africa. The Aggregation owns and operates the high-grade Yaramoko Gold Mine amid on the Houndé greenstone belt in Burkina Faso and is advancing the development and appraisal of the Séguéla Gold Activity amid in Côte d’Ivoire. Roxgold trades on the TSX beneath the attribute ROXG and as ROGFF on OTCQX.

Cautionary Note Apropos Forward-Looking Statements

This account absolution contains “forward-looking information” aural the acceptation of applicative Canadian balance laws (“forward-looking statements”). Such advanced statements include, after limitation: bread-and-butter statements accompanying to the PEA, such as approaching projected production, basic costs and operating costs, statements with account to Mineral Reserves and Mineral Ability estimates, accretion rates, timing of approaching studies including the achievability study, ecology assessments and development plans. These statements are based on advice currently accessible to the Aggregation and the Aggregation provides no affirmation that absolute after-effects will accommodated management’s expectations. In assertive cases, advanced advice may be articular by such agreement as “anticipates”, “believes”, “could”, “estimates”, “expects”, “may”, “shall”, “will”, or “would”. Advanced advice independent in this account absolution is based on assertive factors and assumptions regarding, amid added things, the PEA, the admiration of Mineral Resources and Mineral Reserves, the ability of ability estimates and assets estimates, any abeyant upgrades of absolute ability estimates, gold metal prices, the timing and bulk of approaching appraisal and development expenditures, the admiration of antecedent and comestible basic requirements, the admiration of labour and operating costs, the availability of all-important costs and abstracts to abide to analyze and advance the Company’s backdrop in the abbreviate and long-term, the advance of appraisal and development activities, the cancellation of all-important authoritative approvals, and assumptions with account to bill fluctuations, ecology risks, appellation disputes or claims, and added agnate matters. While the Aggregation considers these assumptions to be reasonable based on advice currently accessible to it, they may prove to be incorrect.

Although the Aggregation believes the expectations bidding in such advanced statements are based on reasonable assumptions, such statements are not guarantees of approaching achievement and absolute after-effects or developments may alter materially from those in the advanced statements. Factors that could account absolute after-effects to alter materially from those in advanced statements include: delays consistent from the COVID-19 pandemic, changes in bazaar conditions, bootless appraisal results, achievability of activity amount overruns or hasty costs and expenses, changes in the costs and timing of the development of new deposits, inaccurate assets and ability estimates, changes in the amount of gold, hasty changes in key administration cadre and accepted bread-and-butter conditions. Mining appraisal and development is an inherently chancy business. Accordingly, absolute contest may alter materially from those projected in the advanced statements. This account is not all-embracing of the factors that may affect any of the Company’s advanced statements, including the factors included in the Company’s anniversary advice anatomy for the year concluded December 31, 2019. These and added factors should be advised anxiously and readers should not abode disproportionate assurance on the Company’s advanced statements. The Aggregation does not undertake to amend any advanced account that may be fabricated from time to time by the Aggregation or on its behalf, except in accordance with applicative balance laws.

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Last Updated: July 10th, 2020 by admin
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