Toronto, Ontario – March 9, 2021 - Roxgold Inc. (“Roxgold” or the “Company”) (TSX: ROXG) (OTCQX: ROGFF) is pleased
to announce assay results from down-plunge extension drilling below the high grade deposit, Koula, at the Séguéla
Gold Project (“Séguéla”) located in Côte d’Ivoire.
Séguéla Gold Project, Côte d’Ivoire:
Highlights from Reverse Circulation (“RC”) and Diamond tail (“RD”) drilling
Koula
• 16 metres (“m”) at 26.5 grams per tonne gold (“g/t Au”) in drill hole SGRD1084 from 233m including
o 2m at 115.3 g/t Au from 234m and
o 1m at 24.7 g/t Au from 246m and
o 1m at 31.0 g/t Au from 248m
• 15m at 18.5 g/t Au in drill hole SGRD1088 from 256m including
o 5m at 24.2 g/t Au from 260m and
o 3m at 45.1 g/t Au from 268m
• 7m at 22.3 g/t Au in drill hole SGRC1085 from 256m including
o 1m at 104.5 g/t Au from 261m
• 17m at 7.7 g/t Au in drill hole SGRD1081 from 193m including
o 2m at 41.6 g/t Au from 194m and
o 1m at 15.3 g/t Au from 206m
“As Séguéla moves closer to a construction decision, we continue to push towards the goal of defining additional
mineralization in support of our vision of Séguéla becoming a 150,000 ounce per year producer over ten plus years,”
commented John Dorward, President and Chief Executive Officer of Roxgold. “The assay results today, while still early,
build our confidence in the potential for Koula to conceptually extend its life via a high-grade underground operation.
The strength of mineralization at depth at Koula is similar to what we were seeing at depth down-plunge in Ancien last
year – a program which was temporarily put on hold in order to infill and upgrade the in-pit defined Inferred Mineral
Resource at Koula for inclusion into the upcoming Feasibility study. While we had initially viewed Koula as an attractive
satellite opportunity it is now clear that it has the potential to be the most important deposit defined at Séguéla so far.
In addition, our drills have resumed extension testing at Ancien, the other ultra-high grade deposit discovered to date.
“We continue to believe we have only begun to tap the potential of the Séguéla Project and are eager to continue to
uncover and test the wealth of additional targets present on the property. While our exploration team continues their
work at Séguéla, the critical path for the Séguéla project plan is on track with the Feasibility Study scheduled for the
second quarter of this year, followed soon thereafter by a construction decision towards the goal of achieving first gold
pour at Séguéla in 2022.”
Paul Weedon, Vice President Exploration commented “Building off the recent high grade results from the conclusion of
the infill program, these new results highlight the potential for an underground target extending down-plunge from Koula and provide a high degree of confidence in the high grades over at least 150m down-plunge. Coupled with the 14m at 4.3 g/t intersected in SGRD971 we see mineralization extending at least 250m at depth and I am looking forward
to the results from the next round of step-out drilling, which is testing the potential a further 120m down-plunge.”

Koula
Located approximately 1km to the east of Antenna, Koula was discovered through field reconnaissance and coincident
recent artisanal workings in an area previously considered to be a lower exploration priority. A diamond drill rig is
continuing to test for down plunge extensions to the high grade Koula mineralization, targeting the next 120m to 150m
step-out further down plunge from the previously deepest intersection of 14m at 4.3 g/t in SGRD971.
Mineralization is hosted by quartz-carbonate veining associated with a well developed mylonitic fabric within and along
the interpreted margins of a tholeiitic basalt, with a very strong structural control evident in the association of a crosscutting north north-east trending structure. This mylonitic zone can be traced for several kilometres along strike on the regional magnetics and looks to also be associated with the mineralization at Ancien, some 6km to the south.

Highlights from the most recent phase of the Indicated infill drilling program at Koula include:
• 16 metres (“m”) at 26.5 grams per tonne gold (“g/t Au”) in drill hole SGRD1084 from 233m including
o 2m at 115.3 g/t Au from 234m and
o 1m at 24.7 g/t Au from 246m and
o 1m at 31.0 g/t Au from 248m
• 15m at 18.5 g/t Au in drill hole SGRD1088 from 256m including
o 5m at 24.2 g/t Au from 260m and
o 3m at 45.1 g/t Au from 268m
• 7m at 22.3 g/t Au in drill hole SGRC1085 from 256m including
o 1m at 104.5 g/t Au from 261m
• 17m at 7.7 g/t Au in drill hole SGRD1081 from 193m including
o 2m at 41.6 g/t Au from 194m and
o 1m at 15.3 g/t Au from 206m
• 7m at 5.4 g/t Au in drill hole SGRC1082 from 233m including
o 1m at 29.0 g/t Au from 235m

Catalysts and Next Steps
Event Timing
Ongoing infill, expansion and satellite target drilling program at Séguéla Q2 2021
District exploration drill results at Yaramoko Q2 2021
Underground drilling program in 55 Zone at Yaramoko Mine Complex Q2 2021
Boussoura exploration results Q2 2021
Feasibility Study for Séguéla Q2 2021
Séguéla construction decision H1 2021
Initial resource at Boussoura H2 2021
Commissioning of Séguéla Gold Project H2 2022
See below for the full listing of drill results from the recent drilling programs at the Séguéla Gold Project. Note: all results
are reported as down-hole intervals which represent approximately 65% of true width.

see & read more on
https://s22.q4cdn.com/726251528/files/doc_news/2021/03/210309_ROXG_Seguela_Exploration_Koula_v1.1.pdf