TORONTO – Roxgold Inc.  (TSX: ROXG)  (“Roxgold” or the “Company”), is pleased to announce initial results from the newly discovered Gabbro North prospect, further results from step-out and in-fill drilling at the recently discovered Sunbird deposit, and additional high-grade results from depth extension drilling at the high grade Koula deposit, at the Séguéla Gold Project (“Séguéla”) located in Côte d’Ivoire.

Roxgold Séguéla deposits and satellite prospects

Figure 1. Séguéla deposits and satellite prospects (Graphic: Business Wire)

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Highlights from Reverse Circulation (“RC”) and Diamond tail (“RD”) drilling:

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Gabbro North

• 8 metres (“m”) at 39.0 grams per tonne gold (“g/t Au”) in drill hole SGRC1152 from 88m including
  • 4m at 76.5 g/t Au from 88m including
  • 1m at 163.0 g/t Au from 89m
• 6m at 5.3 g/t Au in drill hole SGRC1154 from 47m including
  • 1m at 16.7 g/t Au from 51m

Sunbird

• 12 m at 15.1 g/t Au in drill hole SGRC1290 from 54m including
  • 5m at 33.5 g/t Au from 58m
• 9m at 11.7 g/t Au in drill hole SGRC1149 from 111m including
  • 2m at 16.5 g/t Au from 112m and
  • 1m at 44.6 g/t Au from 116m
• 12m at 4.6 g/t Au in drill hole SGRC1296 from 49m
• 6m at 8.6 g/t Au in drill hole SGRC1300 from 181m including
  • 1m at 33.3 g/t Au from 183m
• 23m at 2.4 g/t Au in drill hole SGRC1270 from 75m
• 23m at 2.0 g/t Au in drill hole SGRC1280 from 25m, followed by a separate interval of
  • 12m at 3.2 g/t Au from 83m
• 6m at 6.8 g/t Au in drill hole SGRC1297 from 18m, followed by a separate interval of
  • 22m at 2.2 g/t Au from 54m

Koula

• 11m at 7.2 g/t Au in drill hole SGDD086 from 279m
• 11m at 5.5 g/t Au in drill hole SGRD1204 from 294m including
  • 1m at 18.6g/t from 298m and
  • 3m 11.2g/t Au from 300m
• 3m at 6.1 g/t Au in drill hole SGDD084 from 533m

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Roxgold Management Comments

“The drill program at Séguéla continues to build upon the Feasibility Study through the significant exploration prospectivity demonstrated with the discovery of Gabbro North and the extension drilling results at Sunbird.

“In addition, the results from deeper drilling at Koula emphasise the underground potential with drill defined high-grade mineralization now extending more than 450m down plunge from the base of the DFS pit shell.

“The proposed combination with Fortuna Silver will create one of the best organic growth pipelines among any of the intermediate precious metal producers, supported by peer-leading free cash flow generation, increased scale and diversification, increased liquidity and a lower cost of capital.”

John Dorward, President and Chief Executive Officer, Roxgold.

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“The scout drilling results from the new Gabbro North prospect continues to emphasise the high-grade potential of Séguéla, building off the recent discoveries of the Ancien, Koula and Sunbird deposits.

“In addition to the success at Gabbro North, drilling at Sunbird identified several high-grade shoots as we move through the infill and extension drilling program, with the deposit still open to the south and down-dip, while detailed logging has identified a potential faulted offset in the north, meaning this area also remains open along strike.

“Further, the encouraging results from the deep drilling at Koula has successfully intersected 11m at 7.2 g/t from 279m in hole SGDD086 and 11m at 5.5 g/t from 294m in SGRD1204.

“Structural logging of the depth extension holes identified a gradual rotation in the strike direction of the high-grade shoot, resulting in the actual plunge being slightly shallower than originally projected with some drill holes intersecting the margins of the mineralized envelope.

“In addition, this program is highlighting the development of a parallel high grade hanging wall lode and I am looking forward to results from further step-out drilling as we consider the potential for our first high grade underground resource at the Séguéla Project.”

Paul Weedon, Vice President Exploration, Roxgold.