Mr. Patrick Downey reports

OREZONE INTERSECTS 18.41 G/T GOLD OVER 8.00M AND 22.17 G/T GOLD OVER 4.00M IN ONGOING EXPLORATION

Orezone Gold Corp. has provided drill results from its Bombore gold mine located in central Burkina Faso. The results are part of Orezone's continuing infill and advanced-grade control program which was designed to further delineate multiple high-grade structures within the P8P9 zone. All reported intercepts are in shallow oxides and are located within 1.5 kilometres of the Bombore processing facility.

Drilling highlights:

• 18.41 grams per tonne Au over eight m from 12 m in hole BBC5771;
• 11.92 g/t Au over four m from 64 m in hole BBC5786;
• 4.27 g/t Au over seven m from 42 m in hole BBC5826;
• 2.63 g/t Au over 12 m from 19 m in hole BBC5828;
• 17.59 g/t Au over five m from 30 m in hole BBC5829;
• 22.17 g/t Au over four m from 26 m in hole BBC5912;
• 33.49 g/t Au over two m from three m in hole BBC5980;
• 0.90 g/t Au over 20 m from eight m in hole BBC6070;
• 1.67 g/t Au over 12 m from 40 m in hole BBC6080.

Patrick Downey, president and chief executive officer, stated: "Following a successful first full year of production at Bombore in 2023, where the focus was on bedding down the operation and deleveraging the balance sheet, Orezone is now looking to resume its exploration efforts at Bombore. A recently completed structural review of the property has significantly opened up the exploration model, with an increasing focus now on delineating higher-grade structures to depth and along strike.

"With current mineral reserves down to an average depth of less than 40 m across 14 km of strike, we see significant potential to not only increase the overall mineral inventory at Bombore, but the potential to systematically target higher-grade mineralization within the much broader structural corridor.

"While ongoing drilling in the near term remains focused on further delineating near-surface, high-grade structures in advance of mining, we continue to rank multiple high-priority exploration targets for drilling in 2024."

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 is now focused on its staged phase II hard-rock expansion that 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 acquisitions.

Qualified person

Dr. Pascal Marquis, Geo, senior vice-president, exploration, is the qualified person who has approved the scientific and technical information in this news release.

Quality assurance/quality control

The mineralized intervals are based on a lower cut-off grade of 0.28 g/t in the oxide plus upper transition zone, and 0.45 g/t Au in the lower transition plus sulphide zone, a minimal width of 1.5 m and up to a maximum of three m of dilution being included. The true width of the mineralization is approximately 70 to 85 per cent of the drill length at P8P9. The reverse circulation samples were prepared by BIGS Global Burkina sarl at its Ouagadougou facility and then split by Orezone to one kilogram using rotary sample dividers (RSDs). A one-kilogram aliquot was analyzed for leachable gold at BIGS Global in Ouagadougou, by bottle-roll cyanidation using a LeachWell catalyst. The leach residues from all samples with a leach grade greater than or equal to 0.25 g/t Au were prepared by BIGS Global and then split by Orezone to 50 grams using RSDs. A 50-gram aliquot was analyzed by fire assay at BIGS Global.

Orezone employs a rigorous quality control program, 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, with the details available in the tables posted on the company's website.

We seek Safe Harbor.