“Q2 was another solid operating quarter at Bomboré, with gold production in line with plan. The Company remains well-positioned to achieve its 2025 production guidance of 115,000-130,000 ounces, with Q4 expected as the strongest quarter.”

– Patrick Downey, President & CEO, Orezone Gold

Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF) is pleased to announce its Q2-2025 gold production results and stage 1 hard rock expansion construction update at its Bomboré Gold Mine. All dollar amounts are in USD unless otherwise indicated and abbreviation “M” means million.

Q2-2025 Production Results

• Gold production of 27,548 ounces
• Gold sales of 28,265 ounces at a realized price of $3,338 per ounce for revenue of $94.3M
• Cash balance of $72.6M with available liquidity (cash and undrawn debt) of $103.9M at June 30, 2025. Senior debt at June 30, 2025 of $65.3M after principal repayments of $5.2M and foreign exchange movements in the quarter

Stage 1 Hard Rock Construction Update

• Construction of the stage 1 hard rock expansion remains on schedule and on budget with mill commissioning and first gold pour slated for Q4-2025
• Engineering and procurement now complete
• Dump pocket and jaw crusher foundation significantly advanced
• SAG mill foundation complete, with SAG mill installation commenced
• CIL tank installation complete, with structural steel installation now underway
• Several mining areas for hard rock mining have now been readied in preparation for commencement of hard rock mining later this year
• Construction of explosives magazine, in support of future hard rock blasting, now complete

Patrick Downey, President & CEO stated, “Q2 was another solid operating quarter at Bomboré, with gold production in line with plan. The Company remains well-positioned to achieve its 2025 production guidance of 115,000-130,000 ounces, with Q4 expected as the strongest quarter.

During Q2, the Company made material progress advancing the stage 1 hard rock expansion and upon its nearby completion, will mark a material transformation in the Bomboré operation, with forecasted gold production set to increase by approximately 45% to 170,000-185,000 ounces in 2026.

Further positioning the Company for a significant transformation, Orezone has advanced (1) its application for a secondary listing on the Australian Securities Exchange (“ASX”), with official listing expected in mid-August, and (2) its plans to accelerate the stage 2 hard rock expansion to an upsized 5.5 million tonnes per annum (“Mtpa”) operation two years ahead of schedule (see February 23, 2025 news release). While subject to final Board approval, the stage 2 expansion is projected to increase the overall gold production at Bomboré to 220,000-250,000 ounces per year.”

Bomboré Q2-2025 Production Results (100% Basis)

Hard Rock Plant Expansion Overview

The 2.5Mtpa stage 1 hard rock expansion is designed to process higher-grade hard rock ore. The expansion is independent of the adjacent 6.0Mtpa oxide plant but will utilize a number of shared services and infrastructure including the tailings storage facility, warehouses, administration complex, and technical services. The concentrated scope of the brownfield expansion significantly reduces schedule and budget risk in comparison to a new build, with the ramp-up to benefit from the well-established mining, processing, and maintenance teams onsite.

This stage 1 expansion is scheduled for commissioning in Q4-2025 and as with the oxide plant, which had a nameplate capacity of 5.2Mtpa, the Company views the potential to achieve significantly better throughput rates than that of the 2.5Mtpa stage 1 design.

With the strong price of gold, the Company continues to evaluate the timing of the stage 2 hard rock expansion, which will increase the nameplate throughput to 5.5Mtpa, yielding a forecasted overall production profile of 225,000-250,000 ounces per year. With a 5.5Mtpa jaw crusher currently being installed in stage 1, the stage 2 expansion will primarily consist of a ball mill, pebble crusher, thickener, four additional CIL tanks and a gold room upgrade. The stage 1 design and layout were made to easily accommodate these stage 2 additions.

Figure 1: Bomboré Processing Complex – Hard Rock Plant Layout (blue labels) Relative to Oxide Plant and Other Established Infrastructure (white labels)

Figure 2: Stage 1 Hard Rock Expansion – Major Plant Component Construction

Qualified Persons

The scientific and technical information in this news release was reviewed and approved by Mr. Rob Henderson, P. Eng, Vice-President of Technical Services and Mr. Dale Tweed, P. Eng., Vice-President of Engineering, both of whom are Qualified Persons as defined under NI 43-101 – Standards of Disclosure for Mineral Projects.