Mr. Patrick Downey reports

OREZONE CLOSES C$64.9 MILLION NON-BROKERED PRIVATE PLACEMENT

Orezone Gold Corp. has closed its previously announced non-brokered private placement of 92,743,855 common shares at 70 cents per share for gross proceeds of approximately $64.9-million ($47.4-million (U.S.)) with Nioko Resources Corp.

The net proceeds of the equity financing will be used, together with the previously announced $58-million (U.S.) senior secured term loan with Coris Bank International, to fully finance the construction of the phase 2 hardrock expansion at the Bombore gold mine.

All common shares issued pursuant to the equity financing will be subject to a four-month hold period from the date of closing. No commissions or brokers' fees are payable in connection with the equity financing.

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 hardrock expansion that is expected to materially increase annual and life-of-mine gold production from the processing of hardrock 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 mergers and acquisitions.

We seek Safe Harbor.