Mr. Patrick Downey reports

OREZONE ANNOUNCES COMPLETION OF INITIAL PUBLIC OFFERING ON ASX

Orezone Gold Corp. has completed its initial public offering on the Australian Securities Exchange consisting of the issuance of 65,789,474 CHESS depository interests over fully paid common shares in the capital of the company at an offer price of $1.14 (Australian) per CDI to raise gross proceeds of $75.0-million (Australian). Each CDI represents a beneficial interest in one share.

The admission of Orezone to the official list of the ASX and the quotation of its CDIs are nearing completion and subject to the satisfaction of ASX's remaining listing conditions. Trading in CDIs on the ASX is expected to commence on a normal settlement basis on Aug. 8, 2025, under the ASX code ORE.

The net proceeds of the offer will be used for the continuing advancement of Stage 2 of hardrock expansion, including procurement of mechanical and electrical equipment, freight to site, engineering design, construction, and commissioning, as well as continuing exploration at the Bombore mine, in addition to administration and working capital purposes.

Patrick Downey, president and chief executive officer, stated: "The strong demand and support from new institutional and retail investors are a testament to the quality and potential of the Bombore mine, our experienced team and the company's compelling growth outlook towards achieving an expanded gold production profile of 220,000 to 250,000 ounces per annum. I would like to thank all those who have contributed to the success of the IPO and ASX listing.

"In parallel to advancing stages 1 and 2 of the hardrock plant, we intend to continue expanding our exploration efforts, with the goal of increasing the project's current stated five-million-ounce global resource base to a targeted seven [million] to 10 million ounces longer term. We look forward to delivering on our multiple growth initiatives and generating long-term value for all shareholders."

Canaccord Genuity (Australia) Ltd. acted as the lead manager, bookrunner and underwriter to the offer pursuant to the terms of the underwriting agreement between Orezone and Canaccord.

Euroz Hartleys Ltd., Argonaut Securities Pty. Ltd., SCP Resource Finance LP and BMO Capital Markets Corp. acted as co-managers to the offer. Pursuant to the terms of the underwriting agreement with Canaccord, the company paid a cash commission in the amount of 5.0 per cent of the gross proceeds of the offer.

About Orezone Gold Corp.

Orezone is a West African gold producer engaged in mining, developing and exploring its 90-per-cent-owned flagship Bombore gold mine in Burkina Faso. The Bombore mine achieved commercial production on its oxide operations on Dec. 1, 2022. Construction of the Stage 1 hardrock expansion is well under way, with first gold expected in fourth quarter 2025. Combined production from the oxide and Stage 1 hardrock operations is forecasted to total between 170,000 and 185,000 ounces in 2026. The company is also advancing the Stage 2 hardrock expansion, which is forecasted to increase annual production to between 220,000 and 250,000 ounces. Subject to final board approval, the Stage 2 hardrock expansion will commence in second half 2025, with commissioning expected in fourth quarter 2026.

The technical report entitled Bombore phase 2 expansion, definitive feasibility study, is available on SEDAR+ and the company's website.

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