Mr. Patrick Downey reports

OREZONE REPORTS FIRST QUARTER 2026 GOLD PRODUCTION

Orezone Gold Corp. has released its operating results for the three months ended March 31, 2026. All dollar amounts are in United States dollars unless otherwise indicated.

Patrick Downey, president and chief executive officer, commented: "The first quarter of 2026 included several important milestones for the company. In late March, the company closed its acquisition of Hecla Quebec, which included the operating Casa Berardi gold mine and a portfolio of exploration properties, all located in Quebec. With this transaction, Orezone is now a multiasset diversified producer with an established and self-funded growth profile.

"At Bombore, the company achieved commercial production of the 2.5 Mtpa stage 1 hard rock expansion on Jan. 16, which was accomplished in just over a month from the announcement of first gold. This achievement is a testament to the hard work and dedication of the operating team at Bombore. During the quarter, mine sequencing was affected by intermittent deliveries of emulsion for planned hard rock blasting, resulting in lower than planned grades to the hard rock mill. Despite this, the mill performed extremely well and overall production costs trended in line for the quarter. Deliveries of emulsion have steadily improved, with gold production from the hard rock plant increasing month over month, with production weighted towards H2 2026 as originally guided."

Operations commentary

Bombore operations

Mining rates in the first quarter were in line with budget. However, intermittent deliveries of emulsion for blasting necessitated an adjustment to the hard rock mining sequence which resulted in lower tonnes of high-grade hard rock ore being mined and processed in the quarter. The company has since secured a second emulsion supplier which is expected to support more consistent deliveries. Orezone reiterates its 2026 Bombore production guidance of 160,000 to 180,000 ounces.

Following the announcement of first gold on Dec. 15, 2025, the 2.5 Mtpa (million tonnes per annum) stage 1 hard rock plant achieved commercial production on Jan. 16, 2026, with throughput exceeding nameplate design by 10 per cent during the quarter.

All major components of the stage 2A hard rock expansion have now been procured and earthworks initiated. The stage 2A expansion consisting of a rock breaker, thickener and oxygen plant is expected to be completed in late Q3 2026 and will serve to incrementally improve recoveries and throughput.

Casa Berardi operations

The company closed its acquisition of Hecla Quebec on March 25, 2026. Following a scheduled shutdown for mill maintenance, five days of gold production from Casa Berardi were attributable to Orezone in the first quarter.

At quarter end, Orezone entered into an agreement with an underground mining contractor, which is now in the process of mobilizing to site. The contractor will be utilized to ramp-up development rates in support of increasing underground production as well as to establish exploration platforms for planned drilling in 2026 and 2027.

Surface and underground exploration drilling are underway with three drills, with an additional two drills to be added within the next month.

The company plans to provide 2026 postacquisition guidance for Casa Berardi in the second quarter.

About Orezone Gold Corp.

Orezone Gold is an emerging intermediate gold producer with operations in Canada and West Africa. Its Casa Berardi and Bombore gold mines host significant mineral endowments, growth opportunities and exploration upside. The recently acquired Casa Berardi mine in Quebec has produced over 3.2 Moz of gold to date while the Bombore mine was constructed and brought into production by Orezone in late 2022.

Orezone is led by an experienced management team committed to safe, sustainable and responsible mining practices, with a focus on delivering long-term value for all stakeholders.

Qualified persons and competent person statement

The scientific and technical information in this news release was reviewed and approved by Rob Henderson, PEng, vice-president of technical services, and Dale Tweed, PEng, vice-president of engineering, both of whom are qualified persons as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and competent persons as defined under the Joint Ore Reserves Committee Code (2012 Edition).

Each of Mr. Henderson and Mr. Tweed have sufficient experience that is relevant to the scientific and technical information disclosed in this news release and to the type of activity undertaken to qualify as competent persons as defined in the JORC Code. Both are employees of the company and have consented to the inclusion in this announcement of all technical information based on their work the form and context in which it appears.

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