Mr. Ron Little reports

OREZONE EXPANDS HIGHER GRADE ZONE AT BOMBORE

Orezone Gold Corp. has released positive drilling and preliminary metallurgical test results from a recent 5,968-metre drill program at its 100-per-cent-owned Bombore gold project in Burkina Faso. These programs were focused on P17S, a new higher-grade sulphide zone hosted in a shallowly plunging felsic intrusive, and on the oxide mineralization of the P13 oxide target, both situated on the Toeyoko permit adjacent to the Bombore mining permit. Previous shallow drilling at P17S from surface to a depth of only 60 m (see press release dated July 10, 2014) resulted in a measured and indicated sulphide resource of 337,000 tonnes at 2.5 grams per tonne for 27,000 ounces of gold. The results from the recently completed drill program (62 holes) intersected the unit at depths of up to 100 m and have the potential to substantially increase this resource. The deposit remains open at depth and to the north. In addition, previous geophysical and geochemical surveys indicate there are similar targets in close proximity that remain to be tested.

                 HIGHLIGHTS OF THE P17S DRILL RESULTS 

                         From        To    Length        Au     Depth 
Hole ID        Type       (m)       (m)       (m)     (g/t)       (m)

TYD0041          DD    106.00    118.45     12.45      7.42        84
TYD0042          DD    124.00    143.25     19.25      2.62       102
TYD0030          DD     43.00     55.00     12.00      2.58        38
TYD0038          DD    115.00    123.40      8.40      3.42        89
TYC0133          RC     30.00     43.00     13.00      3.41        30
TYD0023          DD     44.00     52.50      8.50      4.65        38
TYD0029          DD     91.60     99.90      8.30      4.07        73
TYD0037          DD     99.00    117.20     18.20      1.49        82
TYC0131          RC     11.00     24.00     13.00      2.39        14
TYC0082          RC     20.00     32.00     12.00      3.68        20
TYD0044          DD     34.75     40.60      5.85      5.20        28
TYD0027          DD     88.40     98.00      9.60      4.02        70
TYD0036          DD    103.30    110.30      7.00      6.94        81
TYC0130          RC      6.00     18.00     12.00      3.68         9
TYD0035          DD     85.00     90.50      5.50      7.62        67
TYD0045*         DD     35.00     44.50      9.50      3.31        30
TYC0081          RC     24.00     38.00     14.00      5.88        25
TYD0046          DD     35.00     52.50     17.50      2.44        36
TYC0123          RC     11.00     18.00      7.00      7.49        12
TYC0138          RC      0.00      9.00      9.00      4.87         6
TYC0139          RC      8.00     15.00      7.00      5.31         9
TYC0121*         RC     19.00     25.00      6.00      7.69        18

* These two holes are included in the current P17S resource.

A detailed list of all holes in P17S can be found on the company's website.

"This discovery is very significant as the free-milling sulphides of P17S, at an average grade of plus two g/t, would greatly enhance the economics of any planned phase II sulphide expansion," stated Ron Little, chief executive officer for Orezone. "The Bombore measured and indicated sulphide resources, which are amenable to standard milling and carbon-in-leach (CIL) recovery processes, are currently 71 million tonnes at 0.97 g/t for 2.2 million ounces. If we continue to expand these higher-grade sulphide resources, a preliminary economic study of phase II will be completed to determine the potential impact on the overall economics and to update the valuation of the project." The company is planning an additional 20,000 m of drilling on various targets in the first half of 2017.

P17S positive preliminary metallurgical test results

Orezone contracted SGS Lakefield to perform a metallurgical test program on 100 kilograms of representative composite samples from the P17S drill core. The samples were crushed and blended, then split into subsamples for metallurgical and analytical testwork. Repeat assays showed an average gold grade of 3.1 g/t, slightly higher than an average from core assays (2.57 g/t). The grinding testwork indicates a bond work index of 14.2 kilowatt-hours per tonne which is slightly lower than average index of the Bombore sulphide mineralization at 16.8 kwh/tonne. Direct cyanidation bottle-roll tests averaged 94.8 per cent after a 48-hour leach, with a grind size of 74 microns and 81-per-cent recovery after a 24-hour leach. These results are on average better than the whole ore cyanidation recoveries expected for main sulphide material at Bombore based on a standard CIL circuit.

In addition, gravity recovery and the flotation of gravity tails show very positive results. Gravity concentration recovered 61 per cent of the contained gold into 0.1 per cent of the mass treated. This is much higher than in the main Bombore sulphides (about 15 per cent). Flotation of the tails from the gravity concentration recovered an additional 32 per cent of the overall gold into 8 per cent of the total mass treated. Regrind and cyanidation of this resulted in an overall combined recovery from gravity and flotation/regrind/cyanidation of just over 94 per cent.

Reagent consumptions on the whole were moderate at 1.4 kilograms sodium cyanide per tonne and just under one kg/tonne lime, in line with tests on the main orebody sulphides. There is no indication of preg robbing (CIL tests did not show improved cyanidation recovery).

P17S target expansion

The P17S mineralization is hosted in a deformed and metasomatized granodiorite intrusive that typically contains 1 to 2 per cent fine disseminated sulphides including arsenopyrite, pyrite and pyrrhotite.

The recent drill program confirmed that the P17S mineralized granodiorite extends over 275 m along strike and remains open at depth in a folded sequence of metagabbro and metasediments that plunges 20 degrees to the north from surface. The result is an open W-shaped and overturned synformal structure with an axial plane that dips about 45 degrees to the east, somewhat shallower than the general dip of the Bombore deposit.

Orezone will recommence work in January with a geophysical (induced polarization) survey and saprolite sampling (auger drilling) over the area so that reverse circulation and core drilling can continue in February at P17S and other potential similar targets that may occur within the same geological setting.

P13 target expansion

Also during the fourth quarter of 2016, the company completed 1,853 m (37 boreholes) of RC drilling on the P13 target to follow up positive scout drilling results from 2013 on section lines that were spaced 400 m apart along a four km northeast trend. The mineralization is hosted in carbonaceous metapelitic sediments surrounding a northeast-trending metagrabbro unit. The recent program consists of 50 m step-out RC holes along the interpreted mineralized structures.

The best mineralized drill intercepts to date average about six m in length with a gold grade averaging 1.9 g/t. Follow-up work will include geophysical surveys to better define the lithologies and structures in advance of the next round of definition drilling.

                       HIGHLIGHTS OF THE P13 DRILL RESULTS

                                From            To        Length            Au
Hole ID           Type           (m)           (m)           (m)         (g/t)

TYC0120             RC          26.0          31.0          5.00          1.98
TYC0118             RC          20.0          22.0          2.00          3.06
TYC0118             RC          24.0          38.0         14.00          1.14
TYC0112             RC          27.0          39.0         12.00          0.42
TYC0100             RC          13.0          20.0          7.00          1.80
TYC0090             RC           9.0          15.0          6.00          2.31
TYC0090             RC          48.0          50.0          2.00          5.11

The mineralized intervals are based on a lower cut-off grade of 0.45 g/t, a minimal width of two m and up to a maximum of 1.2 m of dilution being included. The true width of the mineralization is approximately 90 per cent of the drill length at P17S, but is unknown at this stage at P13. The RC drilling samples were divided by Orezone employees using rotary sample dividers (RSDs). A two kg split was prepared by SGS Burkina Faso SARL at its Ouagadougou facility and then split by Orezone to one kg using rotary sample dividers (RSDs). A one kg aliquot was analyzed for leachable gold at BIGS Global Burkina SARL in Ouagadougou, by bottle-roll cyanidation using a LeachWell catalyst. The leach residues from all samples with a leach grade in excess of 0.2 g/t were prepared by BIGS Global Burkina SARL and then split by Orezone to 50 grams using rotary sample dividers (RSDs). A 50 g aliquot was analyzed by fire assay at SGS Burkina Faso SARL. Orezone employs a rigorous quality control program (QCP) including a minimum of 10-per-cent standards, blanks and duplicates. The composite width and grade include the final leach residue assay results for most of the drill intercepts reported. A complete list of historical drill results on P17S and P13 and analytical procedures can be found on the company's website.

Orezone strengthens executive management team

The company is also pleased to announce that Patrick Downey will assume the role of executive chairman before the end of January. Over the past six months Mr. Downey has been more involved with the senior management, including the various technical programs and financial planning. "I am keen to contribute in a more significant way with these aspects and the overall strategic objectives of the company as it moves to complete an updated feasibility study and consider the various alternatives to develop the project," stated Mr. Downey.

About Orezone Gold

Orezone has a gold discovery record of plus 12 million ounces and recent mine development experience in Burkina Faso, West Africa. The company owns a 100-per-cent interest in Bombore, the largest undeveloped oxide gold deposit in West Africa, which is situated 85 km east of the capital city, adjacent to an international highway. The company is continuing with exploration and various technical studies in order to be in a position to complete an updated feasibility study during the first half of 2017.

Tim Miller, SME, chief operating officer, Pascal Marquis, Geo, senior vice-president, and Ron Little, PEng, chief executive officer of Orezone, are qualified persons under National Instrument 43-101 and have approved the information in this release. Readers should refer to the annual information form of Orezone for the year ended Dec. 31, 2015, and other continuous disclosure documents filed by Orezone since Jan. 1, 2016, available at SEDAR, for this detailed information, which is subject to the qualifications and notes set forth therein.

We seek Safe Harbor.