Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF) is pleased to announce its second quarter 2024 gold production results from its Bomboré Gold Mine:

• Gold production of 25,524 ounces
• Gold sales of 24,937 ounces at an average realized price of US$2,334/oz, resulting in sales of US$58.2 million

Patrick Downey, President & CEO stated, “Q2 marked a solid operating quarter and was consistent with our annual plan, despite experiencing regional grid power interruptions earlier in the quarter. As previously guided, Q2 was scheduled to be the lowest grade quarter in 2024 as the result of mine sequencing. With access to the higher-grade oxides in the southern half of the concession now established, Orezone reiterates its 2024 production guidance of 110,000 to 125,000 ounces.”

Bomboré Production Results (100% Basis)

PHASE II HARD ROCK EXPANSION UPDATE

Orezone continued to advance early works and front-end engineering for the Bomboré Phase II hard rock expansion throughout the second quarter. Subsequent to quarter-end, the Company announced that it has secured binding commitments totaling over US$105 million to fully finance the construction of the hard rock expansion (see July 10, 2024 news release), which will see annual gold production increase to over 170,000 ounces in 2026, an approximate 50% increase from current levels.

Patrick Downey noted, “We are extremely pleased to have achieved this critical milestone, which now provides a clear path forward for the Bomboré project, and the basis to realize a substantial hard rock life of mine. The SAG mill order for Stage 1 of the hard rock expansion has now been placed and construction activities will ramp up in the coming months, which allows us to maintain the schedule of first gold for the expansion in late 2025.”

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.

The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company’s website.