Mr. Patrick Downey reports

OREZONE PROVIDES HARD ROCK EXPANSION UPDATE FOR ITS BOMBORE GOLD MINE

Orezone Gold Corp. has provided an update on the hard-rock expansion at its Bombore gold mine. The hard-rock expansion is forecasted to increase annual gold production to over 170,000 ounces, an approximate 50-per-cent increase from current levels, with first gold planned in Q4 2025.

Site works are well advanced with the plant site area cleared and all major earthworks complete. Laydown areas have been prepared and are ready to receive construction equipment, offices and major plant deliveries. Camp upgrades for construction supervision and teams are also now operational.

Engineering and procurement

Lycopodium Minerals Canada was awarded the engineering and procurement contract and is ahead of schedule on both activities. Lycopodium was selected due to its successful record of designing and constructing numerous gold plants in West Africa, including the company's phase I oxide plant that is currently in operation and exceeding nameplate design.

In terms of procurement, the company has placed over 50 per cent of all packages, including CIL (carbon in leach) tank platework and 95 per cent of all process equipment. This includes the purchase of a nine-megawatt 26-inch-diameter SAG mill. The SAG mill is a new, preowned mill that was never installed and carries a full warranty by the supplier. Substantial savings in costs and schedule are being realized from the purchase of this manufactured mill. The mill shells, heads and ring gear are now being packaged for shipment later this quarter which is well ahead of schedule.

Site construction activities

The concrete installation contract was recently awarded with mobilization of the batch plant and equipment scheduled for mid-November, three months ahead of schedule.

The tank platework supply was awarded in September and bids for the structural steel and general platework are under evaluation and will be awarded in November.

The main structural, mechanical and piping installation contract is expected to be awarded in Q1 2025, which again will be ahead of schedule.

Mining fleet and explosives magazine

The first shipment of the hard-rock fleet by the mining contractor, which includes new trucks and excavators, has arrived in Burkina Faso and will be transported to site in late October. This early delivery will allow for systematic training of operators well ahead of the start of hard rock mining and will facilitate more cost-effective mining of the lower transition material in the near term. The remaining hard rock fleet will be delivered to site over the coming six to eight months.

The explosives magazine is in the final stages of completion. Once in service, the company will be able to purchase and store bulk explosives for mixing and preparation at site, eliminating the need for the more costly premix batch deliveries. A full-service team from AECI will be on site to mix and supply the downhole explosives for blasting of transition and hard rock material.

Patrick Downey, president and chief executive officer, stated: "I am extremely pleased with the fast progress made to date on the hard-rock expansion. The team has focused on critical areas to accelerate site activities and to meet or exceed key milestones. We look forward to sharing regular updates on this important expansion."

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 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 record in project construction and operations, financings, capital markets, and M&A (mergers and acquisitions).

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