Mr. Patrick Downey reports

OREZONE TO COMMENCE A 30,000 METRE DISCOVERY FOCUSED DRILL PROGRAM AT ITS FLAGSHIP BOMBORE GOLD MINE

Orezone Gold Corp. will be initiating a multiyear exploration campaign designed to test the broader size and scale of the Bombore mineralized system. To date, Bombore has been reserve defined over a greater-than-14-kilometre strike length, with the average depth of drilling to approximately 200 metres hosting the current stated gold resource of 4.5 million ounces measured and indicated and 600,000 ounces inferred. Within this Tier 1 mineralized footprint, the company has designed a program for deeper drilling to:

• Materially expand the reserve and resource base;
• Delineate higher-grade centres of mineralization;
• Further increase the project's mine life.

Patrick Downey, president and chief executive officer, stated: "With the oxide operation at Bombore now well established and the construction of the parallel Stage I hard-rock expansion now under way, we are excited to launch this renewed focus on exploration at Bombore. While we are on track to deliver significant production growth to an overall 225,000 to 250,000 ounces per year with the Stage I and Stage II hard-rock expansions, we view the potential for a further transformational shift at Bombore with successful exploration.

"With numerous existing high-grade intercepts below the current resource and reserve pit limits, across the greater-than-14-kilometre reserve-defined strike length, we have well-established proof of concept for such a transformational shift. This has clear implications in terms of extending the life of mine at Bombore and providing the basis for an expanded production profile."

Hard-rock exploration program and targeting overview

The company has designed an initial 30,000-metre first-pass drill program, which will test multiple targets across the greater-than-14-kilometre-long mineralized system. This initial program will be used to refine target priority for subsequent exploration drilling in this multiyear campaign as well as to advance the project's evolving structural framework. Phase 1 of this initial program will consist of 5,000 metres of drilling centred on the Maga zone, with drilling to commence in early August. Thereafter, drilling will progressively advance toward the southern half of the mining lease.

First-pass drilling along the Bombore shear zone (BSZ) will be focused on testing the potential of the mineralized system down to depths of up to 400 metres. While drilling will be wide spaced in nature, the objective will be to increase pit depths longer term as well as to illustrate the broad continuity of multiple higher-grade, plunging zones of mineralization that are well defined by shallower drilling and current mining operations. These higher-grade plunging subzones may further support an underground mining scenario later in the project's mine life once high-grade near-surface open pits are depleted.

Initial testing of the P17 trend will be focused on incremental stepouts downplunge of the currently defined subzones as well as testing for additional near-surface centres of mineralization along strike. Successful exploration of the higher-grade P17 trend hosts the potential to sequence higher-grade ounces into the front end of the mine plan and to expand gold production.

Other exploration targets

In addition to targeting hard-rock mineralization at depth along the BSZ and P17 trend, potential exists to further delineate additional shallow near-pit, high-grade oxide ounces. This testing will be completed as localized advanced grade control stepout drilling as the oxide mine sequence advances.

On a broader scale, the company notes the potential for additional discoveries as well as the further delineation of known mineralization zones (KT and P13), outside of the current mining lease but within the Bombore exploration permits. This represents longer-term greenfield exploration upside, outside of the near-to-medium term exploration scope.

About Orezone Gold Corp.

Orezone Gold is a West African gold producer engaged in mining, developing and exploring its flagship Bombore gold mine in Burkina Faso. The Bombore mine achieved commercial production on its oxide operations on Dec. 1, 2022, and is now focused on its staged hard-rock expansion, which 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 record in project construction and operations, financings, capital markets, and M&A (mergers and acquisitions).

The technical report entitled "Bombore Phase II Expansion, Definitive Feasibility Study" is available on SEDAR+ and the company's website.

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