Roxgold Inc. (TSX-V:ROG) is pleased to announce that the Burkina Faso Ministry of Environment and Sustainable Development has approved the Environmental and Social Impact Assessment for the Yaramoko Gold Project.  This marks a key milestone in the permitting process, for which the Company has already completed public consultations and crop compensation agreements.

“The approval of the ESIA is a major achievement for our Company and brings us to the final stages of the permitting process for Yaramoko,” said John Dorward, President and Chief Executive Officer. “We would like to thank the government of Burkina Faso and its permitting bodies as well as our surrounding communities for the strong support they have demonstrated for the project.”

The Company’s next permitting milestones are the receipt of the Exploitation (Mining) Permit and completion of its Mining Convention, which will enable the commencement of development activities. The commencement of development activities is scheduled for the fourth quarter.

Project Update

Following the announcement of its $75 million Debt Financing Mandate in June 2014, Roxgold continues to further its financing strategy.  The Company expects to finalize its debt financing package within the fourth quarter of 2014.

Roxgold also continues to advance development milestones including ongoing detailed engineering for the project which is progressing on schedule.  Sourcing of long lead items has commenced, with costs quoted in line with the expectations outlined in the Feasibility Study published in April 2014.  In addition, the Company is progressing with the selection of its EPCM contractor, which is expected to be finalized in the current quarter.

Negotiations with SONABEL, the national electricity provider in Burkina Faso, continue to advance with expected finalization within the fourth quarter.  The Company expects to benefit from significant projected cost savings associated with connecting the project’s future processing plant to the 90Kv power line currently under construction within four kilometres of the 55 Zone, as outlined in its Feasibility Study.

Upcoming Catalysts

About Roxgold

Roxgold is a gold exploration and development company with its key asset, the high grade, 100% owned Yaramoko Gold Project located in the Houndé greenstone region of Burkina Faso, West Africa.  The Company is currently advancing Yaramoko’s 55 Zone through permitting and, subject to making a positive construction decision, expects to commence development in Q4 2014.