Mr. Patrick Downey reports

OREZONE REPORTS Q1-2024 GOLD PRODUCTION

Orezone Gold Corp. has released its first quarter 2024 gold production results from its Bombore gold mine, located in Burkina Faso:

• Gold production of 30,139 ounces (oz);
• Gold sales of 31,229 oz at an average realized price of $2,066 (U.S.)/oz, resulting in sales of $64.5-million (U.S.).

Patrick Downey, president and chief executive officer, stated: "Q1 marked a solid start to 2024. Production to date for Q2 is trending above plan and the company remains well positioned to meet its 2024 production guidance of 110,000 oz to 125,000 oz."

About Orezone Gold Corp.

Orezone Gold 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 phase I oxide operations on Dec. 1, 2022, and the company is now focused on its staged phase II hard rock expansion, which is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves. The company published the results of an updated feasibility study for the phase II expansion in October, 2023, and is currently in advanced negotiations with its senior lender for additional financing to finance the construction of this brownfield 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 acquistions.

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

Qualified persons

Dale Tweed, PEng, vice-president of engineering and Rob Henderson, PEng, vice-president of technical services, for Orezone, 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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