Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF) is pleased to provide drill results from its ongoing oxide drill program at its Bomboré Gold Mine. The release includes results from the Phase III resource definition program and drilling of exploration targets outside of the current resources along known mineralized trends.

These results successfully:

• Confirmed the continuity of near-surface oxide mineralization within established resource areas.
• Demonstrated the potential to further expand the oxide resource along strike.
• Highlighted the potential to delineate additional oxide resources, supporting the Company’s goal of offsetting mine depletion. Ongoing drilling throughout 2023 will further test and define these targets.

Oxide Drilling Highlights:

• 30.86 g/t Au over 5.00m from 19.00m in hole BBC5287
• 42.19 g/t Au over 1.75m from 46.25m in hole BBD1279
• 1.42 g/t Au over 25.00m from 11.00m, including 3.15 g/t Au over 6.00m from 19.00m in hole BBC5392
• 1.01 g/t Au over 24.00m from 32.00m, including 1.76 g/t Au over 8.00m from 33.00m in hole BBC5174
• 1.56 g/t Au over 16.00m from surface, including 14.42 g/t Au over 1.00m from 13.00m in hole BBC5336
• 1.65 g/t Au over 15.00m from 25.00m in hole BBC5338
• 2.05 g/t Au over 11.00m from 11.00m, including 10.63 g/t Au over 1.00m from 11.00m in hole BBC5078

Patrick Downey, President and CEO stated, “Results of our ongoing shallow oxide drill program continue to show that the Bomboré mine remains open to expansion along known mineralized trends with certain target areas returning very significant high-grade intercepts. Several of these areas have never been previously tested due to the presence of local infrastructure and villages which have since been relocated. We plan to continue this program with the goal of testing new targets and replacing ongoing oxide mine depletion.”

Table 1: Highlight Oxide Drill Results

Figure 1: Bomboré Plan Map Overview

About Orezone Gold Corporation

Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a Canadian mining company operating the open pit Bomboré Gold Mine in Burkina Faso.

Orezone is focusing on mining and processing the Phase I near surface free-dig oxides at a planned annual throughput of 5.2 million tonnes. The Company believes that Bomboré has a significant underlying sulphide resource to support a substantially larger Phase II expansion. The Company has recently completed a resource definition drill program, and plans to issue an updated mineral resource, reserve and life of mine plan, as part of this Phase II expansion. It is expected that the pending study will be completed in Q3-2023 to be followed by a production decision.

Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets and M&A.

The technical report for the 2019 Feasibility Study on Bomboré entitled NI 43-101 Technical Report (Amended) Feasibility Study of the Bomboré Gold Project is available on SEDAR under the Company’s profile at www.Sedar.com.

Qualified Person

Dr. Pascal Marquis, Geo., Senior VP Exploration, is the Qualified Person who has approved the scientific and technical information in this news release.

QA/QC

The mineralized intervals are based on a lower cut-off grade of 0.28 g/t Au, a minimal width of 1.5m and up to a maximum of 3.0m of dilution being included. The true width of the mineralization is approximately 70-85% of the drill length at P8P9 and 85% of the drill length at Maga. The samples were prepared by SGS Burkina Faso s.a.r.l. (“SGS”) or by BIGS Global Burkina s.a.r.l. at their respective Ouagadougou facilities and then split by Orezone to 1 kg using Rotary Sample Dividers. A 1-kg aliquot was analyzed for leachable gold at BIGS Global by bottle-roll cyanidation using a LeachWell^TM catalyst. The leach residues from all samples with a leach grade greater than or equal to 0.25 g/t Au were prepared by BIGS Global and then split by Orezone to 50 g using RSDs. A 50-g aliquot was analyzed by fire assay at BIGS Global.

Orezone employs a rigorous Quality Control Program including a minimum of 10% standards, blanks and duplicates. The composite width and grade include the final leach residue assay results for most of the drill intercepts reported, with the details available in the tables posted on our web site.