Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF) is pleased to announce that it has completed its previously announced bought deal financing, pursuant to which the Company issued a total of 42,683,000 common shares of the Company at a price of C$0.82 per Share for aggregate gross proceeds of C$35,000,060. Canaccord Genuity Corp. acted as sole underwriter and bookrunner for the Offering.

The Company has granted the Underwriter an option to acquire up to an additional 6,402,450 Shares at the Offering Price for additional gross proceeds of up to C$5,250,009, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the date hereof.

The Company intends to use the net proceeds from the Offering (and any proceeds received from the Over-Allotment Option) to accelerate both the Stage II hard rock expansion and additional exploration at its Bomboré Gold Mine, as well as for working capital and general corporate purposes, as further described in the Prospectus (as defined below).

The Shares were offered to the public in Canada by way of a short form prospectus dated March 7, 2025, and filed in each of the provinces of Canada (other than Quebec). The Shares were also offered by way of private placement in certain offshore jurisdictions and in the United States pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”).

The Shares referred to in this news release have not been, nor will they be, registered under the U.S. Securities Act, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Orezone Gold Corporation

Orezone Gold Corporation is a West African gold producer engaged in mining, developing, and exploring its flagship Bomboré Gold Mine in Burkina Faso. The Bomboré mine achieved commercial production on its oxide operations on December 1, 2022, and is now focused on its staged hard rock expansion that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves. 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.