Mr. Patrick Downey reports

OREZONE GOLD ANNOUNCES C$8.8 MILLION

To maintain its 19.9-per-cent ownership in Orezone Gold Corp., Nioko Resources Corp. will subscribe for 10,719,659 common shares of the company at a price per share of 82 cents for gross proceeds of $8,790,121.

The placement is being made on a non-brokered private placement basis, with the offering price based on the share price of 82 cents from the company's recently completed bought deal offering (see company's news release of March 13, 2025).

Patrick Downey, president and chief executive officer, stated: "We are pleased to receive confirmation of Nioko's participation and continued support. Nioko is a West African investment group, and its ongoing investment is a strong endorsement of the company's current growth and marketing strategy. The company is advancing its dual listing on the Australian Securities Exchange, which will further enhance the company's capital markets profile as it progresses construction of its hardrock expansion, accelerates exploration and evaluates growth opportunities."

The company expects to complete the placement in March, which is subject to the approval of the Toronto Stock Exchange. The shares issued will be subject to a four-month hold period from the date of closing. No finders' fees or brokers' fees are payable in connection with the placement.

The company intends to use the proceeds from the placement 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.

The placement is a related party transaction, as such term is defined by Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on an exemption from the formal valuation and minority shareholder approval requirements set out in MI 61-101, as the fair market value does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101.

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.