Mr. Patrick Downey reports

OREZONE PROVIDES 2026 GUIDANCE FOR CASA BERARDI

Orezone Gold Corp. has provided its production and cost guidance for its recently acquired Casa Berardi gold mine. The guidance reflects the company's 2026 operating plans for the mine subsequent to its acquisition on March 25, 2026.

Patrick Downey, president and chief executive officer, commented: "Since taking ownership, our focus at Casa Berardi has been on integrating the operation, gaining a deeper understanding of the asset and identifying opportunities to enhance its future performance. Ongoing work since the acquisition has reinforced our view that Casa Berardi is a long-life asset in a Tier 1 jurisdiction. Its substantial mineral endowment, extensive existing infrastructure and significant exploration upside provide a strong platform for long-term value creation.

"Two thousand twenty-six will be a transition year for the operation as we continue to mine readily accessible lower-grade underground ore while completing additional waste stripping in the F160 pit to improve access to higher grades in the pit bottom and prepare for future pit cut-backs to extend the pit life. These investments will result in higher average AISC for the remainder of 2026. Over the longer term, we expect unit costs and AISC to trend lower, as improved grades and productivity are realized through accelerated underground development, new mining equipment and a significantly expanded definition drilling program.

"Our clear focus is on strengthening Casa Berardi for future growth through ongoing investments and we look forward to issuing a new life-of-mine plan in September, which will further outline our long-term strategy of optimizing operations and realizing the full potential of the mine."

Casa Berardi 2026 guidance

The attached guidance covers the postacquisition period from March 25 to Dec. 31, 2026.

Gold production

Quarterly gold production is expected to be lowest in the third quarter as mining at the F160 pit is concentrated on waste stripping resulting in the feeding of lower-grade stockpiles. Production is expected to strengthen in the fourth quarter as more higher-grade open pit ore is delivered to the mill.

All-in sustaining costs

All-in sustaining cost (AISC) is guided to fall between $2,600 (U.S.) to $2,800 (U.S.)/ounce. The accounting standards followed by the company for the acquisition of Casa Berardi require that gold inventories and ore stockpiles be increased to their estimated closing date fair values. The sale of the gold inventory and the processing of ore stockpiles in subsequent periods will impact cost of sales and therefore, AISC otherwise reported. The company has chosen to exclude these non-recurring, non-cash accounting adjustments from AISC as they are not representative of the operating performance of the mine

Capital expenditures

Sustaining capital is estimated at $37-million (U.S.) to $39-million (U.S.) with spending directed toward accelerated underground development, the purchase of new underground mobile mining equipment, tailings lift and process plant improvements. Growth capital estimated at $5-million (U.S.) to $6-million (U.S.) is primarily for engineering, technical studies and permitting in support of future mine development.

Exploration

Fifty-eight thousand metres of diamond drilling is planned targeting three key objectives: converting inferred mineral resources to indicated resources through infill drilling, expanding existing underground ore zones down plunge and testing new near-mine exploration targets. The program is designed to support both near-term mine planning through resource conversion and long-term growth through expansion and near-mine exploration. The company has five exploration drill rigs operating on site and intends to increase exploration activities toward a sustained annual drilling rate of 80,000 to 100,000 metres.

Updated life-of-mine plan

Orezone expects to publish an updated life-of-mine plan for Casa Berardi in September, 2026, outlining the company's long-term operating strategy, mine development plans and exploration opportunities.

About Orezone Gold Corp.

Orezone Gold is an emerging intermediate gold producer with operations in Canada and West Africa. Its Casa Berardi and Bombore gold mines host significant mineral endowments, growth opportunities and exploration upside. The recently acquired Casa Berardi mine in Quebec has produced over 3.2 million oz of gold to date while the Bombore mine was constructed and brought into production by Orezone in late 2022.

Orezone is led by an experienced management team committed to safe, sustainable and responsible mining practices, with a focus on delivering long-term value for all stakeholders.

We seek Safe Harbor.