Mr. Patrick Downey reports

OREZONE LODGES PROSPECTUS TO RAISE A$75 MILLION AS PART OF ASX LISTING

Orezone Gold Corp. has lodged a prospectus with the Australian Securities and Investments Commission (ASIC) for an initial public offering to raise proceeds of $75-million (Australian) (before associated costs). The prospectus will assist the company to meet the requirements of the Australian Securities Exchange and satisfy chapters 1 and 2 of the ASX listing rules, as part of the company's application for admission to the official list of the ASX.

Under the prospectus, the company is offering 65,789,474 CHESS depository interests (CDIs) over fully paid common shares in the capital of the company at an offer price of $1.14 (Australian) per CDI to raise gross proceeds of $75-million (Australian). Each CDI represents a beneficial interest in one share.

The company has entered into an underwriting agreement with Canaccord Genuity (Australia) Ltd., under which Canaccord has been appointed as lead manager, bookrunner and underwriter to the offer. Canaccord has agreed, subject to customary conditions, to underwrite applications for all CDIs under the offer.

Euroz Hartleys Ltd., Argonaut Securities Pty. Ltd., SCP Resource Finance LP and BMO Capital Markets Corp. have been appointed as co-managers to the offer.

Patrick Downey, president and chief executive officer, stated: "We look forward to the ASX listing, which will raise the company's profile by broadening its shareholder base and increase trading liquidity for all shareholders. The listing also represents an exciting opportunity for investors to participate in the company's growth strategy as we execute on our staged hard-rock expansion at the Bombore mine, which will significantly increase our annual gold production. First gold from the Stage 1 hard-rock plant is scheduled for Q4 2025 and production in 2026 from the combined oxide and Stage 1 hard-rock operations is forecasted to be 170,000 to 185,000 ounces. The Stage 2 expansion is forecasted to increase the overall gold production profile at the Bombore mine to 220,000 to 250,000 ounces per annum. Subject to funding, ongoing studies and final board approval, the Stage 2 hard-rock expansion will commence in H2 2025, with commissioning expected in Q4 2026."

The net proceeds of the offer will be used for the continuing advancement of Stage 2 of the hard-rock expansion, including procurement of mechanical and electrical equipment, freight to site, engineering design, and construction plus commissioning of Stage 2, as well as continuing exploration at the Bombore mine, in addition to administration and working capital purposes.

Additional details of the offer and the ASX listing:

• The offer opened on July 11, 2025, and is expected to close on July 21, 2025.
• Trading on the ASX is expected to commence on a normal settlement basis on or about Aug. 8, 2025, under the ASX code ORE (subject to the company satisfying ASX's listing requirements, which it is currently working toward).
• Using an exchange rate of 89.5 Australian cents to $1, the offer price per CDI is approximately $1.02 and the gross proceeds of the offer is approximately $67.1-million.
• The offer price represents a 7.2-per-cent discount to Orezone's closing price of $1.10 on the Toronto Stock Exchange on July 9, 2025, and an 8.5-per-cent discount to the five-day volume-weighted average price (VWAP) of $1.115.

In accordance with Section 734(6) of the Australian Corporations Act 2001 (Cth), the company advises in respect of the offer of CDIs under the prospectus:

• The issuer of the CDIs is Orezone Gold (ARBN 686 478 875).
• The prospectus is available on-line for Australian residents only.
• The offer will only be made in, or accompanied by, a copy of the prospectus.
• A person should consider the prospectus in deciding whether to acquire the CDIs.
• Anyone who wishes to acquire the CDIs under the offer will need to complete the application form that will be in, or will accompany, the prospectus.
• The offer under the prospectus will only be made available to persons receiving the prospectus in Australia and certain investors in New Zealand, Hong Kong, Singapore, the United Kingdom, the European Union (excluding Austria), Switzerland, Canada (Alberta, British Columbia and Ontario) and the United States.

The offer is subject to certain conditions, including, but not limited to, receipt of all necessary regulatory approvals, including any approvals of the ASX, the TSX and applicable securities regulatory authorities.

The prospectus has not been filed with any securities commission in Canada and the CDIs may not be offered or sold within Canada or for the account of any Canadian residents except in transactions exempt from, or not subject to, the prospectus and registration requirements of applicable Canadian securities laws.

A copy of the prospectus, containing full details of the offer, will be available on SEDAR+ under Orezone's profile.

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 oxide operations on Dec. 1, 2022, and is now focused on its staged hard-rock expansion, which is expected to materially increase annual and life-of-mine gold production from the processing of hard-rock mineral reserves. 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 M&A (mergers and acquisitions).

The technical report, entitled "Bombore Phase II Expansion, Definitive Feasibility Study," is available on SEDAR+ and the company's website.

We seek Safe Harbor.