Toronto, Ontario – February 3, 2020 - Roxgold Inc. (“Roxgold” or the “Company”) (TSX: ROXG) (OTC: ROGFF) is pleased
to announce a new high grade discovery at Galgouli, and excellent results following up historic drilling at Fofora at the
Boussoura Project in the southern portion of the Hounde Greenstone Belt in southern Burkina Faso (Figure 1). The Hounde
Greenstone Belt is host to several operating gold mines, including Roxgold’s Yaramoko Mine which is 190km to the north.
The Boussoura Project is located approximately 10 kilometres north of the Côte d’Ivoire border.
Boussoura Highlights:
Galgouli
? 14 metres (“m”) at 10.5 grams per tonne gold (“g/t Au”) in drill hole BSR-19-RD-GAL-002 from 134m
? 1.21m at 79.7 g/t Au in drill hole BSR-19-RD-GAL-004 from 177m
? 9m at 8.2 g/t Au in drill hole BSR-19-RC-GAL-007 from 204m including
• 1m at 65.8 g/t Au from 204m,
? 2m at 20.8 g/t Au in drill hole BSR-19-RC-GAL-008 from 226m (hole abandoned in mineralization)
? 10m at 8.7 g/t Au in drill hole BSR-19-RC-GAL-011 from 158m including
• 1m at 81.5 g/t Au from166m
? 3m at 13.7 g/t Au in drill hole BSR-20-RC-GAL-017 from 187m, and
? 3m at 15.8 g/t Au in drill hole BSR-20-RC-GAL-021 from 175m
Fofora
? 10.7m at 18.1 g/t Au in drill hole BSR-19-DD-FFR-001 from 77.4m, including
• 0.86m at 98.1 g/t Au from 81.2m and
• 2m at 47.1 g/t Au from 84.9m
? 25.58m at 2.5 g/t Au in drill hole BSR-19-RD-FFR-003 from 62m
? 12.0m at 2.0 g/t Au in drill hole BSR-19-DD-FFR-005 from 14.7m
? 1.7m at 24.7 g/t Au in drill hole BSR-19-DD-FFR-006 from 117.1m
? 5.8m at 11.1 g/t Au in drill hole BSR-20-DD-FFR-013 from 69.7m, including
• 0.43m at 78 g/t Au from 70.4m, and
• 0.37m at 76.7 g/t Au from 73.8m
“Our exploration team has had tremendous recent exploration success with a new high grade discovery at the Boussoura
project following on from the significant increase in total resources at Séguéla announced last week,” stated John Dorward,
President and CEO. “We have a very attractive growth pipeline and are well positioned to deliver on our aspirations of
being the next West African multi-asset gold producer. We currently have two rigs drilling on the Boussoura project and
we are eagerly anticipating further results over the coming months.”
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Paul Weedon, Vice President Exploration commented “We are excited about these high grade results, especially from Galgouli as they represent the first drilling into this new discovery and support the numerous high grade rock chip samples collected by the exploration team in late 2019. These results are setting up the potential for Roxgold’s third high grade project. With two rigs currently working on additional infill and extension drilling at Galgouli and Fofora we are looking forward to growing the current mineralized footprint. In addition, we have identified at least 9 other significant vein sets with artisanal workings, each traceable for several hundred metres in length, from which rock chip results highlight the potential for additional high grade mineralization”.

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https://s22.q4cdn.com/726251528/files/doc_news/2020/01/200203-Roxgold-Announces-New-Discovery-at-Boussoura.pdf