Mr. Patrick Downey reports

OREZONE PROVIDES UPDATE ON RCF BLOCK TRADE TO AUSTRALIAN FUNDS

The recent block trade of 40 million Orezone Gold Corp. common shares at a price of $1.15 per share by Resource Capital Fund VII LP (RCF) was placed into institutional funds based in Australia.

This sale of shares aligns with the company's intention to complete a secondary listing on the Australian Securities Exchange (ASX) to expand the company's market profile and trading liquidity through access to an incremental pool of retail and institutional investors including specialist mining-focused funds.

Currently, 14 per cent of the company's share registry is held by Australian-based institutional funds, which is expected to increase after the proposed secondary listing on the ASX is completed by the end of June, 2025.

RCF became a strategic shareholder of Orezone in April, 2018, during the early-stage development of the Bombore gold mine and also participated in the subsequent debt financing of the phase I oxide construction. RCF remains a strong supporter and significant shareholder of Orezone for the phase II hard-rock expansion currently under way at the Bombore gold mine.

Immediately following the disclosed sale, RCF holds 32.4 million Orezone common shares and a $25-million (U.S.) convertible debenture maturing on Oct. 15, 2026.

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 mergers and acquisitions.

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

Qualified persons

The scientific and technical information in this news release was reviewed and approved by Rob Henderson, PEng, vice-president of technical services, and Dale Tweed, PEng, vice-president of engineering, both of whom are qualified persons as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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