Roxgold Discovers New Mineralized Domain in Latest Drilling at Bagassi South Including 23.6 gpt Gold Over 10.9 Metres

Step out drilling at QV1 returns significant widths and grade

TORONTO, May 5, 2015 /CNW/ - Roxgold Inc. (ROG: TSX.V) ("Roxgold" or the "Company") is pleased to announce the latest results from its regional exploration drilling program on the QV1 target at Bagassi South, located approximately 1.8 kilometres south of the 55 Zone, as well as initial results from drilling at the 109 Zone target.

HIGHLIGHTS:

• 23.6 grams per tonne ("gpt") gold over 10.9 metres and a second interval of 8.2 gpt gold over 6.0 metres in diamond drill hole YRM-15-DD-BGS-083;
• 7.5 gpt gold over 10.6 metres including 22.2 gpt gold over 3.2 metres in diamond drill hole YRM-15-DD-BGS-084; and
• 10.4 gpt gold over 19.4 metres including 25.1 gpt gold over 7.1 metres in diamond drill hole YRM-15-DD-BGS-085.

"These latest results from Bagassi South indicate mineralization along plunge for an additional 200 metres from our previous drilling," commented John Dorward, Roxgold's President and CEO. "We are encouraged by what we have seen in this program to date, as the grade and width of what we intersected has exceeded our initial expectations."

BAGASSI SOUTH PROGRAM SUMMARY:

Today's results are from the first six holes of a ten hole, 2,400 metre program designed with the purpose of extending the strike length of the QV1 structure at Bagassi South to the south east of the high grade mineralization previously encountered in the QV Prime target.

Diamond drill holes 078 to 085 extend the known limits of mineralization by approximately 200 metres along strike. The width of mineralization intersected in these holes is wider than have been typically seen at the QV1 structure. In previous drilling at the QV1 target, gold has been intersected in a discreet vein while in this current round of drilling, gold mineralization has been intersected in a broader brecciated structure. This structure, located below a shallowly dipping and plunging mafic volcanic unit, has been intersected a further 30 metres to the south east where the structure intersects a dyke (see Figure 1). Hole 084 is approximately 50 metres down dip of hole 083, while holes 085 and 086 are drilled approximately 50 metres along strike to the south east of hole 083 and are approximately 50 metres apart on section. Hole 087 is approximately 30 meters further to the south east of holes 085 and 086.  Results for holes 086 and 087 are pending.

Diamond hole 082 targeted the QV Prime structure in the hanging wall and intersected veining and shearing with anomalous mineralization approximately 60 metres along strike from hole 056 which intersected 39.6 gpt gold over 4.5 metres (See company press release dated Sept. 08 2014).

No drilling has been conducted on the southern side of the dyke to date, which is a younger cross cutting feature.  This area will be a target of future exploration campaigns.

TABLE 1: Summary of Diamond Drilling Results at Bagassi South

* Diamond drill hole 080a was a re-drill of hole 080.
⁺True Widths for QV1 intersections are estimated to be between 85 and 90% of reported core intervals.

The QV1 target at Bagassi South is located 1.8 kilometres to the south of the 55 Zone where Roxgold has recently commenced construction activities.

No resources have yet been estimated for the QV1 target at this time.

109 ZONE:

At the 109 Zone, 1.1 kilometres to the north of the 55 Zone and the most active artisanal site on the permit, the Company has completed two drill holes totalling 155 metres of diamond drilling to follow up on prospective grab samples taken from the workings of up to 15.6 grams per tonne. The holes intersected the target north-north west trending shear zone with abundant alteration, quartz veining and pyrite mineralization. Anomalous gold grades were returned within this alteration and shearing and follow up work is planned for later in the year.

TABLE 2: Summary of Diamond Drilling Results at 109 Zone

The Company looks forward to providing further updates on the regional exploration and infill drilling programs at the 55 Zone in the coming weeks.

Qualified Person

Ben Pullinger, P.Geo, Vice President of Exploration for Roxgold Inc., a Qualified Person within the meaning of National Instrument 43-101, has verified and approved the technical data disclosed this press release. This includes the sampling, analytical and test data underlying the information.

Quality Assurance/Quality Control

Drill holes reported in this press release were drilled using NQ sized diamond drill bits. Company personnel are located at the drill site. Contractors and employees of Roxgold conducted all logging and sampling. The core was logged, marked up for sampling using standard lengths of two metres outside of the "zone" and adjusted to lithological contacts up to one metre within the "zone".  Samples are then cut into equal halves using a diamond saw.  One half of the core was left in the original core box and stored in a secure location at the Roxgold camp within the Yaramoko area.  The other half was sampled, catalogued and placed into sealed bags and securely stored at the site until it was shipped to Act Labs (the "Lab") in Ouagadougou.  The core was dried and crushed by the Lab and a 150 gram pulp was prepared from the coarse crushed material.  The Lab then conducted routine gold analysis using a 50 gram charge and fire assay with an atomic absorption finish. Samples returning over 5.0 gpt were also analysed by gravimetric analysis.  Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream.  In addition, the Lab inserted its own quality control samples.

About Roxgold

Roxgold is a gold exploration and development company with its key asset, the high grade Yaramoko Gold Project, located in the Houndé greenstone region of Burkina Faso, West Africa. The Company is currently advancing Yaramoko's 55 Zone through construction and expects to commence production in the second quarter of 2016. Roxgold trades on the TSX Venture Exchange under the symbol ROG.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

This news release contains forward-looking information. Forward looking information contained in this new release includes, but is not limited to, statements with respect to: (i) the estimation of inferred and indicated mineral resources and probable mineral reserves; (ii) the success of exploration activities; and (iii) the results of the Feasibility Study including statements about future production, and production timelines for the 55 Zone on the Yaramoko permit.

These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and mineral reserves, the realization of resource estimates and reserve estimates, gold metal prices, the timing and amount of future exploration and development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and develop the Yaramoko project in the short and long-term, the progress of exploration and development activities, the receipt of necessary regulatory approvals, the completion of the environmental assessment process, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not commence at the Yaramoko project, risks relating to variations in mineral resources and mineral reserves, grade or recovery rates resulting from current exploration and development activities, risks relating to changes in gold prices and the worldwide demand for and supply of gold, risks related to increased competition in the mining industry generally, risks related to current global financial conditions, uncertainties inherent in the estimation of mineral resources and mineral reserves, access and supply risks, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the development process, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities at the Yaramoko project may not be available on satisfactory terms, or at all, risks related to disputes concerning property titles and interest, and environmental risks. Please refer to the Company's Short Form Prospectus dated October 24, 2014 filed on SEDAR at www.sedar.com for political, environmental or other risks that could materially affect the development of mineral resources and mineral reserves. This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking information. The Company does not undertake to update any forward-looking information that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

SOURCE Roxgold Inc.