The Yaramoko Gold Mine continued to maintain a low cash operating cost Gold ounces produced There was a total of 112,523 tonnes of ore mined at a grade of 8.83 g/t (includes marginal ore mined totalling 11,582 tonnes at a grade of 2.2 g/t) and 1,121 metres of waste development. Paul Criddle, FAusIMM, Chief Operating Officer for Roxgold Inc., a Qualified Person within the meaning of National Instrument 43-101, has reviewed, verified and approved the technical disclosure contained in this news release. It has also increased the supply chain thresholds for consumables. Drilling expenses totalled $1.7 million for YTD 2020 at the Boussoura permit and $0.3 million spent related to regional drilling at Yaramoko. There was also drilling at the Boussoura project in Burkina Faso. Gold sales in Q2 2020 totalled $62.1 million from 36,279 ounces of gold. Roxgold Inc. ("Roxgold" or the "Company") (TSX: ROXG) (OTCQX: ROGFF) is pleased to report its preliminary production results for the second quarter of 2020 ("Q2 2020") from the Company’s Yaramoko Mine Complex ("Yaramoko") located in Burkina Faso.Produced 32,812 ounces of gold at an average grade of 8.2 grams per tonne in Q2, totalling 65,192 ounces produced for the year to dateReported quarterly plant throughput of 1,399 tonnes per day ("tpd") for a total of 127,309 tonnes which exceeded increased nameplate capacity of 1,100 tpd by approximately 27%Maintained upper end of annual gold production guidance at 120,000 and 130,000 ounces subject to existing operating conditions being maintainedContinued operations with management and mitigation of COVID-19 with no new infections at siteAdvanced Séguéla infill and infrastructure drilling to support Feasibility Study which is on track for early 2021"Our operations in the first half of this year have continued to operate well thanks to the foresight and rapid response of our regional teams to manage and mitigate the impacts of COVID-19 on our employees, contractors, and communities in which we operate," said John Dorward, President and CEO.

Whilst production guidance has been maintained, a prolonged COVID-19 related interruption may have an impact on the Company’s operations, financial position and liquidity. This compares with 109,840 tonnes of ore at 9.3 g/t and 1,562 metres of waste development in Q2 2019. Share-based payments totalled $0.2 million in Q1 2020 compared to $0.4 million in the comparative period. For more information on the Company’s QA/QC and sampling procedures, please refer to the Company’s Annual Information Form dated December 31, 2019, available on the Company’s website at Although the COVID-19 pandemic has not materially impact Roxgold's operations during the first half of 2020, a prolonged COVID-19 related interruption may have an impact on production and cost guidance. As a result, the Company achieved a site all-in sustaining cost of $1,003 per ounce sold and an all-in sustaining cost This press release features multimedia. Highlights from the most recent drilling at Ancien include: There was an increase in the processing of stockpiled material to supplement the mined ore as Yaramoko operated with reduced personnel due to COVID-19 travel restrictions and isolation protocols in Q2 2020. Average realized selling price (per ounce) The current targets, including Agouti, Boulder and Ancien, are within 6 kilometres of the Antenna deposit (Figure 1).

Whilst production has been maintained, a prolonged COVID-19 related interruption may have an impact on the Company’s operations, financial position and liquidity. “In the face of an unparalleled global crisis, Roxgold has delivered remarkably strong operating and financial results,” commented John Dorward, President and CEO of Roxgold. Gold ounces sold of 36,279 ounces were higher than production due to the timing of gold shipments at the end of the prior quarter.As announced on June 30, 2020, the Company successfully executed documentation to refinance its existing Yaramoko Facility and secured an additional US$20 million as a revolving credit facility to provide increased liquidity and financial flexibility. These targets form part of the large and active 3km by 3km artisanal field and are very similar in appearance to the high grade Fofora vein, consisting of a series of parallel north to north-west striking quartz veins and associated shear zones with surface strike expressions of up to 1,000m. “In the quarter, we achieved adjusted net income of US$11 million, generated over US$33 million in cash flow from mining operations and reported a return on equity of 16%. As noted earlier this year, AISC is expected to be relatively higher compared to prior years due to increased projected capital spend as the Bagassi South decline development is completed in 2020 along with enhanced security infrastructure investment. Roxgold trades on the TSX under the symbol ROXG and as ROGFF on OTCQX. Basic earnings per share attributable to shareholders There were no Lost Time Injury (“LTI”) incidents in the first quarter of 2020.

In addition, the Company continues to make regularly scheduled gold shipments from the Yaramoko Gold Mine. August 11, 2020.

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