Mr. Patrick Downey reports

OREZONE GOLD ANNOUNCES C$35 MILLION BOUGHT DEAL OFFERING

Orezone Gold Corp. has entered into an agreement with Canaccord Genuity Corp., acting as sole underwriter and bookrunner, pursuant to which the underwriter has agreed to purchase, on a bought deal basis, 42,683,000 common shares of the company at a price of 82 cents per common share, for aggregate gross proceeds of $35,000,060.

In addition, the company will grant the underwriter an option to acquire up to an additional 6,402,450 common shares at the offering price for additional gross proceeds of up to $5,250,009, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing date (as defined herein).

The company intends to use the net proceeds from the offering (and any proceeds received from the overallotment option) to accelerate both the Stage 2 hardrock expansion and additional exploration at its Bombore gold mine, as well as for working capital and general corporate purposes.

Closing of the offering is expected to occur on or about March 13, 2025, and is subject to certain conditions, including, but not limited to, receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange and applicable securities regulatory authorities.

The common shares will be offered by way of a short form prospectus to be filed in each of the provinces of Canada (other than Quebec) and may also be sold in certain offshore jurisdictions (provided that placement in such offshore jurisdictions does not give rise to the filing of a prospectus or registration statement or to any continuous disclosure obligations) and by way of private placement in the United States pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended.

About Orezone Gold Corp.

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

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