Mr. Patrick Downey reports

OREZONE REPORTS Q3-2024 GOLD PRODUCTION

Orezone Gold Corp. has released third quarter 2024 gold production results from its Bombore 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 $2,473 (U.S.) per ounce, resulting in sales of $68.5-million (U.S.);
• Quarter-end cash balance of $66.9-million (U.S.) and senior debt of $68.1-million (U.S.) after a further repayment of $5-million (U.S.) in principal during the quarter.

Patrick Downey, president and chief executive officer, stated: "Q3 marked another strong operating period at Bombore, with a quarterly record of 1.5 million ore tonnes processed. Through the quarter, the company was successful in accessing, prestripping 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 midpoint 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 gram per tonne gold. With record gold prices and unhedged gold sales, we expect additional cash generation in the last quarter of the year."

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.

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

Qualified persons

Dale Tweed, PEng, vice-president of engineering, and Rob Henderson, PEng, vice-president of technical services, are qualified persons under National Instrument 43-101 and have reviewed and approved the scientific and technical information contained in this news release.

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