Mr. Patrick Downey reports

OREZONE REPORTS Q3-2023 GOLD PRODUCTION

Orezone Gold Corp. has released third quarter 2023 production results from its Bombore gold mine, located in Burkina Faso.

Q3 2023 highlights:

• Gold production of 30,726 ounces, totalling 107,509 oz year to date;
• Gold sales of 29,167 oz Au at an average realized price of $1,910 (U.S.) per oz, resulting in sales of $55.7-million (U.S.).

Patrick Downey, president and chief executive officer, stated: "Production in Q3 exceeded our expectations, with higher-than-budgeted mining and processing rates achieved during the rainy season. This is a testament to the experienced operating team at Bombore, and their operational preparedness as mining and processing of oxide material in wet conditions can prove difficult. With the Q3 rainy season now behind us, and a favourable outlook for Q4, Orezone remains well positioned to meet the lower end of its 2023 guidance of 140,000 to 155,000 oz.

"The impact of historical artisanal mining on ore grades realized in H1 was localized, and during Q3 was only observed in the month of July. For August and September, there was minimal impact, with monthly production averaging 11,289 oz, as pit depths are now below that of the affected artisanal horizon.

"Significant progress was also made during the quarter on the Bombore grid power connection, with all tower foundations complete and over 50 per cent of the towers now installed. The project remains on time and on budget, with energization scheduled for late 2023. Once connected, this will significantly lower Bombore's operating costs and carbon footprint.

"Lastly, the company expects to release the results of the Bombore phase 2 expansion and updated life-of-mine study during the week of Oct. 8."

About Orezone Gold Corp.

Orezone Gold is a Canadian mining company operating the open-pit Bombore gold mine in Burkina Faso.

Orezone is focusing on mining and processing the phase 1, near-surface, free-dig oxides at a planned annual throughput of 5.7 million tonnes. The company believes that Bombore has a significant underlying hardrock resource to support a substantially larger phase 2 expansion. The company has recently completed a resource definition drill program, and plans to issue an updated mineral resource, reserve and life-of-mine plan, as part of this phase 2 expansion.

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.

Qualified persons

Dale Tweed, PEng, vice-president of engineering, and Rob Henderson, PEng, vice-president of technical services, are qualified persons under National Instrument 43-101 and have reviewed and approved the scientific and technical information contained in this news release.?

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