Mr. Patrick Downey reports

OREZONE REPORTS 2023 GOLD PRODUCTION AND CONNECTION OF THE BOMBORE MINE TO THE NATIONAL GRID

Orezone Gold Corp. is releasing 2023 gold production results and has connected the Bombore mine to the national grid.

Q4 and full year 2023 production results

Gold production totalled 33,916 ounces during the fourth quarter, and 141,425 ounces for the full year 2023, achieving annual guidance of 140,000 to 155,000 ounces.

Gold sales during the quarter were 33,782 ounces at an average realized price of $1,997 (U.S.) per ounce, resulting in sales of $67.5-million (U.S.).

For the full year, gold sales totalled 139,696 ounces at an average realized price of $1,940 (U.S.) per ounce, resulting in sales of $271.0-million (U.S.).

Patrick Downey, president and chief executive officer, stated: "With a strong Q4, the Bombore mine had a successful first full year of operations and achieved guidance, which is a testament to the hard work and dedication of our operating team. Operational performance was matched by a strong safety record, with no lost-time injuries in 2023."

Bombore connection to the national grid

Mr. Downey continued: "I am also very pleased to report that construction of the Bombore powerline was completed on-schedule in late December. Commissioning and acceptance by the state power provider Sonabel to bring power to site commenced in early January and has now been completed. Process plant energization is in progress and will be completed by Jan. 21, 2024.

"The powerline replaces the use of onsite diesel gensets for power, significantly lowering our operating costs and carbon footprint."

Phase II expansion

Early works for the Bombore phase II expansion commenced in the fourth quarter of 2023. These activities included: ordering of the SAG mill, early-stage engineering and bulk earthworks on the hard rock mill site.

Discussions with the company's senior lender, Coris Bank, are continuing and the company expects to receive a financing proposal later in the first quarter.

             BOMBORE 2023 PRODUCTION RESULTS 
 
                 Unit     Q4 2023    Q3 2023    Q2 2023    Q1 2023    FY 2023
Ore processed   Tonnes  1,449,769  1,453,541  1,400,160  1,445,693  5,749,163
Ore grade       Au g/t       0.82       0.74       0.87       0.96       0.85
Plant recovery    %          88.9       88.8       91.1       92.2       90.4
Gold produced   Au oz      33,916     30,726     35,482     41,301    141,425
Gold sold       Au oz      33,782     29,167     33,608     43,139    139,696

About Orezone Gold Corp.

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

We seek Safe Harbor.