Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF) is pleased to provide drill results from the first 6 holes of the Phase II program at P17S-NE extension along the P17 mineralized trend at the Bomboré Gold Project, located in Burkina Faso.

The Phase II program is a follow up to Phase I (completed in June 2021) which intersected several high-grade zones related to a folded mineralized granodiorite that extends outside of the existing reserves and resources at P17S-NE.

Continuing the success from the Phase I program, the initial results from the Phase II program confirm the continuity of mineralization at surface and the extension down dip along the P17S-NE zone.  The system remains open at depth and to the north.

Drilling Highlights

• 12.20 m of 10.01 g/t Au from 245.80 m in hole BBD1081

• 6.00 m of 2.41 g/t Au from 79 m in hole BBD1081

• 14.00 m of 1.21 g/t Au from 33 m in hole BBD1077

• 6.00 m of 2.16 g/t Au from 51 m in hole BBD1077

• 7.00 m of 2.63 g/t Au from 117 m in hole BBD1077

• 13.00 m of 1.86 g/t Au from 5 m in hole BBD1078

• 7.00 m of 1.56 g/t Au from 47 m in hole BBD1079

• 15.10 m of 1.27 g/t Au from 13 m in hole BBD1080

Commenting on the results, Patrick Downey, President and CEO stated, “Hole BD1081 was a significant step-out hole and is one of the best holes drilled to date at P17S. It confirms the down-dip continuity and extends the system further towards P17.  Also of significance are the multiple near surface intercepts from this recent drill program. These results confirm the consistency and repeatability of the folding patterns both near surface and down plunge indicating a robust and continuous near surface mineralized system. Our drilling in 2021 and 2022 has been outside of the current reserve pit and intersected zones that are still open at depth and now warrant drilling beyond the current Phase II program.

Assay results for the remaining 3 holes at P17S are expected in the coming weeks. The Company has now commenced drilling at the P17 target, some 1.7 km north of P17S, to advance the definition of this deposit and better delineate the folding pattern and the potential for extensions at depth and towards the
P17S-NE deposit.

Table 1: P17S Area 2022 Drill Results

* True widths for P17S area drilling are approximately 90% of drilled lengths.
** Preliminary results without leach residue assays. Final grades will typically increase by 4-6% from those stated.

Figure 1: P17 Trend Plan Map

Figure 2: Section 730190E

Figure 3: Section 730130E

About Orezone Gold Corporation

Orezone Gold Corporation is a Canadian development company which owns a 90% interest in Bomboré, one of the largest undeveloped gold deposits in Burkina Faso.

The 2019 feasibility study highlights Bomboré as an attractive shovel-ready gold project with forecasted annual gold production of 118,000 ounces over a 13+ year mine life at an All-In Sustaining Cost of US$730/ounce with an after-tax payback period of 2.5 years at an assumed gold price of US$1,300/ounce.  Bomboré is underpinned by a mineral resource base in excess of 5 million gold ounces and possesses significant expansion potential. Orezone is fully funded to bring Bomboré into production with the first gold pour scheduled for Q3-2022.

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 0.45 g/t, a minimal width of 1.5 m and up to a maximum of 2.0 m of dilution being included. The true width of the mineralization is approximately 90% of the drill length. The half-core drilling samples were cut using a diamond saw by Orezone employees. The samples were prepared by SGS Burkina Faso s.a.r.l. at the Bomboré facility and then split by Orezone to 1 kg using Rotary Sample Dividers. A 1-kg aliquot was analyzed for leachable gold at BIGS Global Burkina s.a.r.l. in Ouagadougou, by bottle-roll cyanidation using a LeachWell^TM catalyst. The leach residues from all samples with a leach grade greater than or equal to 0.4 g/t 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.