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

• Gold production of 26,581 ounces, totalling 82,244 ounces year-to-date

• Gold sales of 27,698 ounces at an average realized price of US$2,473/oz, resulting in sales of US$68.5 million

• Quarter-end cash balance of US$66.9 million and senior debt of US$68.1 million after a further repayment of US$5.0 million in principal during the quarter

Patrick Downey, President & CEO stated, “Q3 marked another strong operating period at Bomboré, with a quarterly record of 1.5 million ore tonnes processed. Through the quarter, the Company was successful in accessing, pre-stripping, and commencing production in the higher-grade, free-digging Siga Zone oxides in the south. However, mill feed from this newly accessed, higher-grade zone, was lower than planned during the quarter due to delays from heavy rains and a four-day plant shutdown including a full ball mill reline in late September.

With the conclusion of the rainy season and completion of all scheduled annual mill maintenance, we fully expect fourth quarter gold production to be the strongest quarter for the year with increased ore contribution from the Siga Zone. The Company is on track to meet the mid-point of its 2024 production guidance of 110,000 to 125,000 ounces, evidenced by the strong gold production of 6,331 ounces through the first 15 days of October, at a head grade of 0.85 g/t gold. With record gold prices and unhedged gold sales, we expect additional cash generation in the last quarter of the year.”

Bomboré Production Results (100% Basis) 

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.