Orezone Reports Positive Drill Results at Bomboré Demonstrating Growth Potential Ahead of Mineral Resource and Reserve Update in Q1 2027

VANCOUVER, British Columbia, Aug. 11, 2026 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE | ASX: ORE | OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to provide additional drill results from its Bomboré Gold Mine. The latest results are from multiple zones across the 14-kilometre-long reserve-defined Bomboré gold system.

Selected Drill Highlights1:

  • 2.97g/t over 34.0m (BBD1393)
  • 1.74g/t over 26.0m (BBD1437)
                Incl. 4.50g/t over 7.0m                 Incl. 3.33g/t over 6.0m
  • 4.00g/t over 11.3m (BBD1409)
  • 8.34g/t over 6.0m (BBD1418)
  • 1.26g/t over 34.0m (BBD1430)
  • 1.39g/t over 19.0m (BBD1408)
             Incl. 5.46g/t over 2.0m              Incl. 4.97g/t over 3.0m
  • 4.28g/t over 11.0m (BBD1393)
  • 223.25g/t over 1.0m (BBD1437)
  • 9.14g/t over 3.30m (BBD1411)
  • 4.88g/t over 4.60m (BBD1414)
  • 1.64g/t over 15.0m (BBD1394)
  • 1.81g/t over 13.0m (BBD1392)
  • 1.28g/t over 16.6m (BBD1402)
  • 1.70g/t over 12.0m (BBD1430)

Patrick Downey, President and CEO, commented “These latest exploration drill results continue to demonstrate the growth potential at Bomboré, confirming the continuity of gold mineralization beyond the current Mineral Resources and Mineral Reserves.

Step-out drilling continues to highlight significant exploration upside along strike, demonstrated by follow-up drilling at P16, that confirmed the zone’s 600 metre strike extension and its overall sub-parallel orientation to the P17 high-grade trend. As with P17, the emerging P16 trend hosts notably higher-grade zones within a broader envelope of lower grade mineralization. Ongoing structural studies and future exploration drilling will focus on refining the controls and continuity of these higher-grade zones, which are potentially amenable to underground mining and could significantly enhance the production profile.

In addition to our successful expansion drilling programs, the 2026 resource definition program focused on converting Inferred Resource to the Indicated category, supporting a Mineral Resource and Mineral Reserve update which is expected to be released in the first quarter of 2027. The updated estimate will incorporate the results of approximately 100,000m of additional drilling, in addition to an adjusted cut-off grade reflective of current operating costs and higher gold prices. Given Orezone’s ongoing exploration success in extending mineralization to depth and along strike, we expect that the new estimate will yield a material increase to both Mineral Resources and Mineral Reserves, further extending the overall life-of-mine at Bomboré”.

Exploration Drilling Results

Follow-up drilling at P16 was successful in confirming the P16 strike extension, which has now been traced over 600 metres to the northeast of the established P16 Mineral Resource. This newly emerging trend is subparallel to the established P17 Trend, located approximately 1 kilometre to the southeast. As with the P17 Trend, P16 hosts notably higher-grade zones, with mineralization plunging at 25 degrees to the north-northeast, parallel to the axes of tight folds in quartz veins. Follow-up drilling at P16 will look to both delineate mineralization along the broader trend, as well as to further refine the continuity of the higher-grade zones with increasingly tighter drill spacing.

The P16 strike extension is a significant discovery that has broader implications in terms of future resource growth within the Bomboré gold system. P16 strike extension was not previously recognized as a prospective target because of the approximately eight metres of Tertiary cover that masks the underlying mineralization. This recent finding opens up multiple areas under cover that were not previously advanced due to the absence of surficial geochemical anomalies.

P16 selected intercepts – 600 metres northeast of established P16 resource:

8.34g/t over 6.0m (BBD1418) 4.88g/t over 4.6m (BBD1414)
27.31g/t over 1.0m (BBD1405) 2.83g/t over 6.0m (BBD1405)
4.37g/t over 2.4m (BBD1422) 12.50g/t over 1.0m (BBC7353)
   

Previously reported – selected high-grade intercepts from P16 area:

10.63g/t over 14.0m (BBD0448) 16.50g/t over 5.0m (BBD0448)
9.03g/t over 12.0m (BBC3241) 6.69g/t over 15.5m (BBD0443)
5.91g/t over 15.0m (BBD0477) 7.82g/t over 9.0m (BBD0213)
58.91g/t over 3.0m (BBD0768) 25.87g/t over 1.0m (BBD0813)
   

Resource Definition Drill Results
For 2026, Orezone has budgeted approximately 65,000m of drilling at Bomboré, with 45,000 metres dedicated to resource definition drilling. The definition program follows more recent 100 metre-spaced step-out drilling, which was successful in extending gold mineralization below several of the current life-of-mine resource pits. Targeted infill drilling is expected to expand the existing resource base, with future pit optimizations potentially extending pit boundaries further down depth and along strike.

Further to the planned 2026 step-out and resource definition drill programs, mineralization at Bomboré remains open at depth and along strike. To date, the broader mineralized system has been traced across a continuous 14-kilometre strike length, with Mineral Reserves to an average depth of less than 40 metres and Mineral Resources to an average depth of approximately 70 metres. Future definition drilling at Bomboré will be focused on delineating higher-grade centers of mineralization, with the potential to be sequenced into the near-term mine plan, supporting further growth in production and operating cash flow.

North Zone selected intercepts:

2.97g/t over 34.0m (BBD1393) 1.64g/t over 15.0m (BBD1394)
Incl. 4.50g/t over 7.0m Incl. 2.31g/t over 4.0m
4.28g/t over 11.0m (BBD1393) 1.06g/t over 31.2m (BBD1394)
1.81g/t over 13.0m (BBD1392) Incl. 2.62g/t over 4.0m
1.05g/t over 12.4m (BBD1395) 3.27g/t over 5.0m (BBC7295)
   

P17 selected intercepts:

1.26g/t over 34.0m (BBD1430) 1.39g/t over 19.0m (BBD1408)
Incl. 5.46g/t over 2.0m Incl. 4.97g/t over 3.0m
4.00g/t over 11.3m (BBD1409) 9.14g/t over 3.3m (BBD1411)
1.70g/t over 12.0m (BBD1430) 4.92g/t over 3.0m (BBD1429)
   

Siga selected intercepts:

1.74g/t over 26.0m (BBD1437) 1.08g/t over 27.2m (BBD1438)
Incl. 3.33g/t over 6.0m Incl. 1.60g/t over 13.0m
223.25g/t over 1.0m (BBD1437) 2.96g/t over 7.0m (BBD1440)
1.09g/t over 13.4m (BBD1439)  
   

P8P9 selected intercepts:

1.28g/t over 16.6m (BBD1402) 1.09g/t over 11.30m (BBD1401)
Incl. 3.01g/t over 3.0m 2.07g/t over 7.0m (BBC7341)
   

Figure 1 – Bomboré Plan Map Highlighting Selected Intercepts 

Bomboré Plan Map Highlighting Selected Intercepts

Figure 2 – North Zone Long Section

North Zone Long Section

Figure 3 – North Zone Cross Section

North Zone Cross Section

Figure 4 – Siga South Cross Section

Siga South Cross Section

Figure 5 – P16 Long Section

P16 Long Section

Table 1 – Drill Results Table

Hole Zone Easting
(m)
Northing
(m)
Elv.
(m)
Dip
(deg.)
Azi.
(deg.)
EOH
(m)
From
(m)
To
(m)
Length*
(m)
Grade
(g/t Au)
Type
BBC7271 CFU 729342 1352598 270 -50 312 70 9.00 12.00 3.00 0.87 OX
And               28.00 33.00 5.00 0.22 OX
BBC7272 CFU 729549 1352745 274 -50 312 111 0.00 5.00 5.00 0.43 OX
And               9.00 12.00 3.00 0.52 OX
And               19.00 25.00 6.00 0.39 OX
And               57.00 61.00 4.00 0.79 HR
And               78.00 84.00 6.00 0.80 HR
And               92.00 95.00 3.00 0.52 HR
And               107.00 111.00 4.00 0.33 HR
BBC7273 NORTH 728028 1352940 268 -50 312 132 15.00 20.00 5.00 1.40 OX
And               54.00 57.00 3.00 0.51 OX
And               68.00 77.00 9.00 0.28 OX
And               87.00 91.00 4.00 0.30 HR
And               117.00 120.00 3.00 0.97 HR
BBC7274 CFU 729545 1352666 272 -50 310 102 43.00 48.00 5.00 0.20 HR
And               90.00 93.00 3.00 0.46 HR
BBC7275 SIGA S 728233 1344889 267 -50 253 80 9.00 13.00 4.00 0.35 OX
And               22.00 26.00 4.00 0.24 OX
BBC7276 SIGA S 728250 1345004 269 -49 254 72 17.00 22.00 5.00 0.99 OX
And               43.00 47.00 4.00 0.26 HR
BBC7277 SIGA S 728218 1345098 270 -50 254 60 3.00 6.00 3.00 0.32 OX
BBC7278 SIGA S 728265 1345113 271 -49 254 70 11.00 14.00 3.00 0.35 OX
And               21.00 25.00 4.00 0.27 OX
BBC7279 SIGA S 728313 1344811 266 -49 252 80       NSR  
BBC7280 SIGA S 728887 1345126 264 -49 255 120 65.00 73.00 8.00 0.31 HR
BBC7281 NORTH 729817 1354838 279 -50 312 50 26.00 31.00 5.00 0.26 OX
BBC7282 NORTH 729798 1354793 280 -50 312 80 NSR     NSR  
BBC7283 NORTH 729901 1354901 277 -50 314 130 39.00 44.00 5.00 1.24 OX
BBC7284 NORTH 730108 1354780 277 -50 312 125 89.00 94.00 5.00 0.36 HR
And               106.00 110.00 4.00 0.29 HR
BBC7285 NORTH 730042 1354776 277 -50 311 60       NSR  
BBC7286 NORTH 730062 1354756 277 -48 315 100 18.00 26.00 8.00 0.35 OX
And               36.00 39.00 3.00 0.35 OX
BBC7287 NORTH 730394 1354323 278 -50 313 100 15.00 19.00 4.00 0.41 OX
And               26.00 29.00 3.00 0.83 OX
BBC7288 NORTH 730431 1354346 276 -50 312 100 18.00 39.00 21.00 0.47 OX
Incl.               34.00 36.00 2.00 1.18 OX
Incl.               31.00 38.00 7.00 0.64 OX
And               62.00 66.00 4.00 0.45 HR
BBC7289 NORTH 730173 1354118 282 -48 315 120       NSR  
BBC7290 NORTH 730204 1354261 280 -49 315 60       NSR  
BBC7291 NORTH 730306 1354233 281 -48 314 120       NSR  
BBC7292 NORTH 729809 1354814 279 -51 318 75       NSR  
BBC7293 NORTH 730265 1354570 277 -50 312 80 3.00 10.00 7.00 0.34 OX
BBC7294 NORTH 730356 1354257 280 -50 317 120 11.00 14.00 3.00 3.12 OX
Incl.               12.00 13.00 1.00 8.15 OX
BBC7295 NORTH 730356 1354290 280 -50 313 80 48.00 59.00 11.00 1.64 HR
Incl.               50.00 55.00 5.00 3.27 HR
And               63.00 70.00 7.00 0.90 HR
BBC7296 NORTH 730361 1354319 280 -51 317 80 38.00 43.00 5.00 0.19 OX
And               60.00 70.00 10.00 0.85 HR
BBC7297 NORTH 730356 1354358 279 -51 315 65 0.00 7.00 7.00 0.25 OX
BBC7298 NORTH 730236 1354533 277 -50 314 80       NSR  
BBC7299 NORTH 730299 1354577 279 -52 314 100 33.00 42.00 9.00 0.86 OX
BBC7333 NORTH 729731 1354447 287 -50 312 100 49.00 55.00 6.00 0.40 HR
And               80.00 85.00 5.00 0.43 HR
BBC7335 NORTH 730609 1354260 276 -51 313 130 64.00 67.00 3.00 0.84 HR
BBC7339 P8P9 727790 1352625 267 -49 313 99 28.00 35.00 7.00 0.99 OX
And               80.00 86.00 6.00 1.23 HR
Incl.               80.00 81.00 1.00 4.91 HR
BBC7340 P8P9 727834 1352585 267 -50 312 140 96.00 100.00 4.00 0.42 HR
BBC7341 P8P9 727945 1352472 267 -50 315 80 17.00 45.00 28.00 0.89 OX
Incl.               37.00 44.00 7.00 2.07 OX
BBC7342 P8P9 728025 1352559 266 -50 312 80 36.00 43.00 7.00 0.33 HR
BBC7343 P8P9 727831 1352658 267 -50 312 54 13.00 16.00 3.00 0.59 OX
BBC7344 P8P9 727878 1352722 267 -50 312 120 45.00 50.00 5.00 0.31 OX
BBC7345 P8P9 727947 1352757 267 -50 312 150 118.00 123.00 5.00 0.56 HR
BBC7346 P8P9 727902 1352799 267 -49 313 80 39.00 42.00 3.00 0.40 OX
BBC7347 NORTH 728295 1352591 266 -48 312 100 48.00 53.00 5.00 0.42 HR
BBC7348 P16 729673 1344348 260 -50 270 94       NSR  
BBC7349 P16 729750 1344350 260 -50 270 95       NSR  
BBC7350 P17 S 730181 1343198 260 -50 270 72       NSR  
BBC7351 P16 729255 1343900 261 -50 270 104 10.00 14.00 4.00 0.70 OX
BBC7352 P16 729383 1343948 262 -50 270 100       NSR  
BBC7353 P16 729396 1343899 262 -50 270 67 3.00 23.00 20.00 1.06 OX
Incl.               9.00 10.00 1.00 12.50 OX
And               39.00 44.00 5.00 0.57 OX
And               50.00 54.00 4.00 0.46 HR
BBD1374 SIGA E 728691 1347159 274 -48 252 252 111.00 114.00 3.00 1.46 HR
And               197.00 201.00 4.00 1.07 HR
And               205.00 210.00 5.00 0.84 HR
BBD1375 P8P9 728540 1351955 269 -50 310 309 2.00 17.00 15.00 0.67 OX
Incl.               8.00 10.00 2.00 1.75 OX
And               22.00 28.50 6.50 0.71 OX
And               151.10 179.00 27.90 0.83 HR
Incl.               170.00 178.00 8.00 1.30 HR
BBD1376 P8P9 727428 1350533 302 -51 312 252 46.00 49.00 3.00 2.55 HR
BBD1377 SIGA E 728408 1346499 266 -50 250 375 153.25 156.40 3.15 0.55 HR
And               193.30 206.15 12.85 0.69 HR
And               243.00 248.00 5.00 0.64 HR
And               256.00 260.10 4.10 0.31 HR
And               279.00 288.00 9.00 0.69 HR
And               293.00 298.00 5.00 0.43 HR
BBD1378 SIGA S 728791 1344665 261 -58 248 255 149.40 153.10 3.70 0.39 HR
BBD1379 SIGA S 728632 1345724 270 -50 249 354 98.10 101.45 3.35 0.79 HR
And               195.00 202.00 7.00 0.46 HR
And               253.00 256.00 3.00 0.70 HR
And               293.60 299.00 5.40 0.75 HR
And               305.20 322.00 16.80 0.75 HR
Incl.               306.00 315.00 9.00 0.99 HR
BBD1380 P8P9 728536 1352025 268 -50 311 252 132.10 135.90 3.80 1.40 HR
BBD1382 P8P9 728542 1351824 270 -52 312 372 267.00 272.00 5.00 0.88 HR
And               278.00 286.00 8.00 0.47 HR
And               316.01 322.00 5.90 0.64 HR
And               332.00 339.00 7.00 0.65 HR
BBD1383 SIGA S 728667 1345686 268 -51 252 372 136.15 143.00 6.85 0.58 HR
And               265.00 270.00 5.00 0.64 HR
And               274.00 280.00 6.00 0.98 HR
And               293.00 298.00 5.00 0.75 HR
And               317.00 320.00 3.00 0.63 HR
And               324.00 333.00 9.00 1.52 HR
Incl.               235.00 241.00 6.00 2.01 HR
And               339.00 351.10 12.10 1.01 HR
Incl.               345.00 350.10 5.10 1.76 HR
BBD1384 SIGA S 728632 1345140 267 -46 250 228 12.00 16.00 4.00 0.53 OX
And               182.00 191.80 9.80 0.87 HR
BBD1385 SIGA S 728715 1345068 270 -49 253 285 9.30 13.10 3.80 1.21 OX
And               17.00 25.00 8.00 0.61 OX
And               83.00 86.00 3.00 0.52 HR
And               136.00 141.15 5.15 0.59 HR
And               154.00 163.00 9.00 1.66 HR
Incl.               154.00 158.00 4.00 2.75 HR
And               208.00 214.30 6.30 0.53 HR
And               217.55 223.00 5.45 1.45 HR
Incl.               222.15 223.00 0.85 6.66 HR
And               229.85 235.00 5.15 0.70 HR
BBD1386 SIGA S 728805 1344776 262 -50 250 267 19.80 24.00 4.20 0.78 OX
And               208.00 213.00 5.00 0.60 HR
BBD1387 SIGA S 728727 1344965 264 -50 251 241 6.00 12.50 6.50 0.44 OX
And               121.00 134.00 13.00 0.76 HR
And               171.30 176.00 4.70 0.64 HR
And               194.00 198.00 4.00 0.39 HR
BBD1388 SIGA E 728172 1346993 274 -50 253 267 116.00 126.00 10.00 0.55 HR
And               141.00 147.00 6.00 0.75 HR
And               160.00 169.00 9.00 0.42 HR
And               197.00 203.10 6.10 0.47 HR
BBD1390 SIGA E 727891 1347537 275 -50 252 192 124.00 129.00 5.00 0.46 HR
And               141.00 144.00 3.00 0.38 HR
BBD1391 SIGA S 728928 1344823 262 -51 248 382 336.00 339.00 3.00 0.65 HR
BBD1392 NORTH 728965 1353592 278 -54 311 273 190.00 198.00 8.00 1.37 HR
Incl.               193.00 195.00 2.00 2.83 HR
And               205.00 218.00 13.00 1.81 HR
Incl.               205.00 210.00 5.00 2.57 HR
BBD1393 NORTH 728897 1353620 279 -50 313 252 2.10 6.70 4.60 0.73 OX
And               29.00 41.00 12.00 0.69 OX
And               149.00 183.00 34.00 2.97 HR
Incl.               152.00 159.00 7.00 4.50 HR
And               162.00 173.00 11.00 4.28 HR
And               219.50 225.20 5.70 2.08 HR
Incl.               219.50 222.00 2.50 3.15 HR
BBD1394 NORTH 729446 1354272 286 -55 311 327 43.00 50.00 7.00 0.71 HR
And               229.00 260.15 31.15 1.06 HR
Incl.               233.00 237.00 4.00 2.62 HR
And               270.00 285.00 15.00 1.64 HR
Incl.               277.00 281.00 4.00 2.31 HR
BBD1395 NORTH 729442 1354206 285 -57 311 399 81.00 87.00 6.00 0.78 HR
And               91.00 97.00 6.00 0.53 HR
And               131.00 137.00 6.00 0.50 HR
And               304.00 353.00 49.00 0.87 HR
Incl.               304.00 316.40 12.40 1.05 HR
And               359.00 364.90 5.90 0.83 HR
BBD1396 NORTH 729094 1354083 285 -54 312 297 117.00 141.00 24.00 0.64 HR
Incl.               140.00 141.00 1.00 3.39 HR
And               198.00 201.00 3.00 0.46 HR
BBD1397 NORTH 729051 1353955 284 -56 308 366 30.00 34.00 4.00 0.71 HR
And               73.00 76.50 3.50 0.61 HR
And               169.00 174.00 5.00 0.78 HR
And               198.00 204.00 6.00 0.71 HR
And               246.60 250.00 3.40 1.02 HR
And               305.00 308.00 3.00 0.64 HR
And               322.00 330.00 8.00 0.46 HR
And               343.10 348.00 4.90 0.51 HR
BBD1398 NORTH 728895 1353785 280 -50 312 189       NSR  
BBD1399 NORTH 728937 1353819 281 -50 309 396 91.00 95.00 4.00 0.30 HR
And               295.00 298.00 3.00 0.46 HR
And               345.00 353.00 8.00 0.75 HR
BBD1400 NORTH 729158 1354026 285 -56 313 405 5.00 10.00 5.00 0.47 OX
And               251.00 262.00 11.00 0.73 HR
And               312.00 318.00 6.00 1.52 HR
Incl.               312.00 315.00 3.00 1.90 HR
And               325.00 333.00 8.00 1.47 HR
Incl.               330.00 333.00 3.00 3.34 HR
BBD1401 P8P9 727744 1350791 287 -50 313 324 8.00 14.80 6.80 0.69 OX
And               70.00 79.00 9.00 0.88 HR
And               90.00 105.00 15.00 0.89 HR
Incl.               96.00 102.00 6.00 1.10 HR
And               142.00 165.00 23.00 0.49 HR
And               174.00 178.20 4.20 0.51 HR
And               187.00 193.00 6.00 0.53 HR
And               206.00 218.00 12.00 0.57 HR
And               249.00 282.00 33.00 0.66 HR
Incl.               252.70 264.00 11.30 1.09 HR
And               285.80 291.00 5.20 0.60 HR
BBD1402 P8P9 727672 1350717 292 -50 312 321 16.00 21.10 5.10 0.37 HR
And               80.00 83.00 3.00 0.68 HR
And               102.20 105.20 3.00 0.89 HR
And               119.90 126.00 6.10 0.63 HR
And               215.00 219.00 4.00 0.66 HR
And               227.40 244.00 16.60 1.28 HR
Incl.               233.00 236.00 3.00 3.01 HR
BBD1403 P8P9 727669 1350789 291 -50 312 240 4.00 30.00 26.00 0.37 OX
And               92.80 97.00 4.20 0.69 HR
And               123.00 132.00 9.00 0.76 HR
BBD1404 P16 N 729666 1344998 261 -52 270 186 103.00 104.00 1.00 1.24 HR
BBD1405 P16 N 729581 1344897 261 -50 269 228 88.00 100.00 12.00 2.68 HR
Incl.               99.00 100.00 1.00 27.31 HR
And               107.00 111.00 4.00 0.48 HR
And               125.00 130.00 5.00 1.72 HR
Incl.               125.00 128.00 3.00 2.69 HR
And               147.00 151.00 4.00 0.41 HR
And               185.00 191.00 6.00 0.43 HR
And               207.00 213.00 6.00 2.83 HR
Incl.               207.00 211.00 4.00 3.92 HR
BBD1406 P17 S 730207 1343149 260 -50 270 81 59.50 67.50 8.00 0.59 HR
And               71.00 72.00 1.00 7.55 HR
BBD1407 P17 S 730209 1343099 260 -49 270 87 54.00 56.00 2.00 1.36 HR
BBD1408 P17 S 730212 1343201 260 -50 271 105 10.00 15.00 5.00 2.04 HR
Incl.               14.20 15.00 0.80 5.20 HR
And               37.00 44.00 7.00 0.51 HR
And               48.00 67.00 19.00 1.39 HR
Incl.               64.00 67.00 3.00 4.97 HR
BBD1409 P17 S 730118 1342899 259 -54 271 81 55.00 66.30 11.30 4.00 HR
Incl.               60.40 61.20 0.80 3.98 HR
BBD1410 P17 S 730231 1343149 261 -50 270 114 87.00 88.00 1.00 4.18 HR
BBD1411 P17 S 730250 1343200 261 -49 270 153 19.00 27.30 8.30 3.81 HR
Incl.               24.00 27.30 3.30 9.14 HR
And               114.00 122.00 8.00 0.77 HR
And               130.00 143.00 13.00 1.19 HR
Incl.               137.00 141.00 4.00 2.67 HR
BBD1412 P17 S 730045 1343156 260 -49 269 120       NSR  
BBD1413 SIGA S 728774 1344504 259 -49 250 168       NSR  
BBD1414 P16 N 729545 1344850 261 -51 269 207 75.50 80.10 4.60 4.88 HR
Incl.               76.50 77.50 1.00 12.69 HR
And               150.00 155.00 5.00 0.49 HR
BBD1415 SIGA S 729375 1345629 261 -50 251 141 11.00 27.00 16.00 0.45 OX
And               99.00 104.00 5.00 1.17 HR
BBD1416 P8P9 727575 1350670 297 -49 311 255 76.80 83.00 6.20 0.70 HR
BBD1417 P16 N 729514 1344903 261 -50 270 198 86.00 91.00 5.00 0.73 HR
And               154.00 157.90 3.90 0.52 HR
And               180.70 184.15 3.45 0.72 HR
BBD1418 P16 N 729562 1344952 261 -51 271 255 27.00 32.00 5.00 0.41 HR
And               44.00 56.00 12.00 4.32 HR
Incl.               48.00 54.00 6.00 8.34 HR
And               149.00 153.30 4.30 0.41 HR
And               181.00 186.00 5.00 0.36 HR
BBD1419 P16 N 729626 1344949 261 -51 270 204       NSR  
BBD1420 P16 N 729680 1345099 261 -49 270 204 168.00 169.00 1.00 4.41 HR
BBD1421 P16 N 729369 1345049 261 -49 270 120 94.70 95.80 1.10 0.74 HR
BBD1422 P16 N 729480 1344851 261 -51 272 159 64.40 66.00 1.60 0.77 HR
And               132.00 135.20 3.20 3.79 HR
Incl.               132.80 135.20 2.40 4.37 HR
BBD1423 P16 N 729580 1344800 261 -50 269 243 44.00 49.00 5.00 0.52 HR
BBD1424 P16 N 729528 1344750 261 -50 268 165 29.00 30.00 1.00 0.58 OX
BBD1425 P17 S 730448 1343253 261 -51 270 261       NSR  
BBD1426 P17 S 730286 1343250 260 -51 271 189 11.35 13.00 1.65 1.62 HR
And               21.00 25.00 4.00 1.27 HR
And               39.00 41.00 2.00 2.44 HR
And               50.00 55.00 5.00 1.61 HR
Incl.               53.00 54.00 1.00 3.57 HR
And               76.00 78.00 2.00 1.81 HR
And               91.00 93.20 2.20 1.01 HR
And               106.00 112.00 6.00 2.22 HR
Incl.               110.90 112.00 1.10 10.79 HR
And               170.00 177.00 7.00 0.88 HR
And               181.00 188.00 7.00 1.39 HR
Incl.               186.00 188.00 2.00 2.83 HR
BBD1427 P17 S 730219 1343251 260 -50 271 120 34.00 39.00 5.00 0.30 HR
BBD1428 P17 S 730354 1343424 262 -50 271 228 107.00 110.00 3.00 0.72 HR
And               139.00 141.00 2.00 2.49 HR
And               168.00 175.00 7.00 2.03 HR
Incl.               173.00 174.00 1.00 10.70 HR
BBD1429 P17 S 730348 1343375 261 -51 271 300 71.30 76.00 4.70 0.72 HR
And               89.00 95.00 6.00 0.57 HR
And               100.00 102.00 2.00 1.44 HR
And               111.00 113.00 2.00 0.95 HR
And               136.00 137.00 1.00 3.24 HR
And               146.00 149.00 3.00 4.92 HR
And               161.00 171.00 10.00 0.81 HR
And               215.00 216.90 1.90 2.03 HR
And               281.00 292.60 11.60 0.89 HR
Incl.               285.00 287.00 2.00 3.05 HR
BBD1430 P17 S 730340 1343325 261 -50 270 300 29.00 34.00 5.00 0.65 HR
And               40.00 52.00 12.00 1.70 HR
Incl.               43.00 48.00 5.00 3.37 HR
And               57.00 62.00 5.00 2.16 HR
Incl.               59.00 62.00 3.00 3.16 HR
And               68.00 102.00 34.00 1.26 HR
Incl.               68.00 70.00 2.00 5.46 HR
And               91.00 93.00 2.00 5.29 HR
And               125.00 134.00 9.00 1.47 HR
Incl.               131.00 133.00 2.00 3.81 HR
And               151.00 158.00 7.00 0.71 HR
BBD1431 P17 S 730310 1343175 261 -51 271 348 31.40 34.60 3.20 0.85 HR
And               47.60 59.00 11.40 0.95 HR
And               105.00 115.20 10.20 0.88 HR
And               296.00 301.00 5.00 1.99 HR
Incl.               299.00 300.00 1.00 5.04 HR
BBD1432 P17 S 730335 1342825 252 -54 270 186 137.00 144.90 7.90 1.71 HR
Incl.               139.00 143.00 4.00 2.07 HR
BBD1433 P17 S 730220 1343300 261 -49 269 135       NSR  
BBD1434 P17 S 730322 1343448 262 -49 271 303       NSR  
BBD1435 SIGA S 729042 1344809 262 -49 253 221 199.00 206.00 7.00 0.30 HR
BBD1436 SIGA S 728744 1344917 263 -50 250 225 31.00 36.00 5.00 0.34 HR
And               60.30 67.30 7.00 1.17 HR
Incl.               62.00 63.00 1.00 4.72 HR
And               123.00 128.00 5.00 0.45 HR
And               142.80 148.00 5.20 0.45 HR
And               166.90 195.90 29.00 0.51 HR
And               199.30 211.00 11.70 0.43 HR
BBD1437 SIGA S 728702 1344955 264 -50 249 191 8.00 41.00 33.00 0.46 OX
And               88.00 114.00 26.00 1.74 HR
Incl.               97.00 103.00 6.00 3.33 HR
And               152.00 167.30 15.30 14.64 HR
Incl.               154.00 155.00 1.00 223.25 HR
And               174.00 189.70 15.70 0.45 HR
BBD1438 SIGA S 728635 1345297 269 -45 250 248 30.00 34.00 4.00 0.62 HR
And               52.00 59.00 7.00 0.63 HR
And               100.00 112.00 12.00 0.49 HR
And               151.80 179.00 27.20 1.08 HR
Incl.               165.00 178.00 13.00 1.60 HR
And               188.00 193.00 5.00 1.31 HR
And               228.00 231.00 3.00 0.60 HR
BBD1439 SIGA S 728703 1345000 265 -50 250 231 113.00 126.40 13.40 1.09 HR
Incl.               123.00 126.40 3.40 2.79 HR
And               163.00 199.00 36.00 0.72 HR
Incl.               178.00 180.00 2.00 3.32 HR
BBD1440 SIGA S 728672 1345634 269 -53 251 351 2.00 18.00 16.00 0.45 OX
And               47.00 54.00 7.00 0.38 HR
And               105.00 114.00 9.00 0.40 HR
And               119.00 124.00 5.00 0.42 HR
And               252.00 256.00 4.00 0.53 HR
And               264.00 271.00 7.00 0.59 HR
And               299.00 308.00 9.00 0.57 HR
And               328.00 344.00 16.00 1.60 HR
Incl.               336.00 343.00 7.00 2.96 HR
BBD1441 SIGA S 728642 1345623 269 -48 249 180 10.70 15.00 4.30 0.46 OX
BBD1442 SIGA S 728629 1345828 267 -51 253 321 78.40 86.00 7.60 0.32 HR
And               147.00 153.00 6.00 0.31 HR
And               165.00 168.00 3.00 0.48 HR
And               233.00 245.00 12.00 0.38 HR
And               303.00 321.00 18.00 0.89 HR
Incl.               312.00 317.00 5.00 1.62 HR
BBD1444 SIGA S 728576 1345919 265 -55 248 300 6.00 20.50 14.50 0.57 OX
And               92.10 95.40 3.30 2.13 HR
And               118.00 127.00 9.00 0.52 HR
And               212.00 220.00 8.00 0.71 HR
And               255.80 261.20 5.40 1.57 HR
And               266.00 283.00 17.00 0.50 HR
BBD1448 SIGA S 728364 1346161 263 -50 253 231 75.75 91.00 15.25 0.57 HR
And               111.00 122.00 11.00 0.42 HR
And               137.00 143.00 6.00 0.99 HR
And               157.00 164.00 7.00 0.32 HR
And               185.00 191.20 6.20 0.94 HR
BBD1451 NORTH 728853 1353894 279 -50 312 240 171.00 174.00 3.00 0.50 HR
And               178.00 199.10 21.10 0.57 HR
And               217.00 231.00 14.00 0.95 HR
BBD1452 NORTH 728810 1353863 279 -50 313 261 7.00 14.00 7.00 0.26 OX
And               178.00 188.00 10.00 0.67 HR
And               227.00 233.00 6.00 2.31 HR
Incl.               227.00 228.00 1.00 9.98 HR
BBD1454 NORTH 728744 1353859 277 -51 311 210 32.00 36.00 4.00 0.79 HR
And               63.50 67.00 3.50 1.26 HR
And               110.00 113.00 3.00 0.52 HR
And               189.40 199.00 9.60 0.68 HR
BBD1455 NORTH 728363 1353459 271 -50 313 270 62.00 68.00 6.00 0.69 HR
And               141.00 145.00 4.00 0.55 HR

*True width of mineralized intercept to drill core length: Siga 80-100%, P8P9 & P17 75-85%, North Zone 60-80%, P16 yet to be determined

ABOUT OREZONE GOLD CORPORATION

Orezone Gold is an emerging intermediate gold producer with operations in Canada and West Africa. Its Casa Berardi and Bomboré gold mines host significant mineral endowments, growth opportunities, and exploration upside. The recently acquired Casa Berardi mine in Quebec has produced over 3.2 million oz of gold to-date while the Bomboré 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.

CONTACT INFORMATION

Patrick Downey
President and Chief Executive Officer

Amanda Mallough
Vice President, Investor Relations

Tel: 1 778 945 8977
[email protected] / www.orezone.com

For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at www.orezone.com.

The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.

This announcement was authorized for release by Patrick Downey, Director, President & CEO.

Qualified Person and Competent Persons Statement

Alastair Gallaugher (CGeol), Exploration Manager for Orezone, is the Qualified Person under NI 43-101 and has reviewed and approved the scientific and technical information contained in this news release. 

Information in this press release that relates to grade control drilling and exploration results is based on, and fairly represents, information and supporting documentation prepared by Mr. Gallaugher, a Competent Person who is a Member of the Geological Society of London. Mr. Gallaugher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a ‘Competent Person’ as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr. Gallaugher is an employee of the Company and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain information that may constitute "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of applicable U.S. securities laws (collectively, "forward-looking statements"). Forward-looking statements are frequently characterized by words such as "expect", "anticipate", "believe", "plan", "intend", "estimate", "potential", "continue", "may", "will", "could", "would" and similar expressions, or statements that certain actions, events or results "may", "could", "would" or "will" occur.

Forward-looking statements in this news release include, but are not limited to, statements regarding: the continuity, extent and potential expansion of mineralization at Bomboré; the potential for future Mineral Resource and Mineral Reserve growth; the expected timing of an updated Mineral Resource and Mineral Reserve estimate in the first quarter of 2027; the incorporation of approximately 100,000 metres of drilling into the updated estimate; the expected impact of revised cut-off grades; the potential to extend the mine life at Bomboré; the delineation and continuity of higher-grade mineralized zones; the potential for future underground mining opportunities; the timing, scope and results of current and future drilling programs; future pit optimizations; the conversion of Inferred Mineral Resources to the Indicated category; and the Company's exploration plans, objectives and expenditures.

All forward-looking statements are based on assumptions that management believes are reasonable at the time such statements are made, including, without limitation, assumptions regarding the continuity of mineralization, the accuracy of geological interpretations, the results of current and future exploration programs, the completion of resource modelling and estimation work, the completion of pit optimization and mine planning studies, gold prices, operating costs, exchange rates, permitting, political and regulatory conditions, and the availability of labour, equipment and supplies.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, without limitation: exploration results not supporting future Mineral Resource or Mineral Reserve estimates; geological, technical or metallurgical uncertainties; changes in mineral resource estimation assumptions; fluctuations in gold prices, foreign exchange rates and operating costs; delays in obtaining permits or regulatory approvals; changes in applicable laws or regulations; political and security risks in Burkina Faso; the availability of financing, labour, equipment and supplies; community relations; environmental and climate-related risks; operational risks; and the other risks described in the Company's Annual Information Form and Management's Discussion and Analysis filed under the Company's profile on SEDAR+ at www.sedarplus.ca.

Although Orezone believes that the expectations reflected in the forward-looking statements contained in this news release are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. Except as required by applicable securities laws, Orezone undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

JORC Code, 2012 Edition

All dollar amounts are in USD unless otherwise indicated

Section 1 – Sampling Techniques and Data

Criteria JORC Code Explanation Commentary
Sampling techniques
  • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.
  • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
  • Aspects of the determination of mineralisation that are Material to the Public Report.
  • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.
  • Reverse circulation (RC) drill samples are collected every metre for the entire length of the borehole. All material from each meter was sampled via conical splitter attached to the RC rig cyclone. This produces a 2-3kg sub-sample which is collected in a prelabelled sample bag with sequential sample numbers.
  • Historical RC sampling includes collecting the cyclone underflow sample, splitting in a rotary sample divider to generate a RC sub-sample with a mass of ±2.1 kg.
  • HQ and NQ drill core samples are collected from half-drill core cut evenly lengthwise with a diamond saw at regular 1 m intervals. Sampling per geological contacts is permitted ± 0.2m either side of the meter mark. Samples are numbered and bagged before dispatch to the laboratory. Samples were consistently cut on a nominal 10 degree rotation from the orientation line mark on the core (where orientation available, otherwise a consistent cut-line is established) and the non-orientation/cut-line marked side of the core is submitted for assay.
  • Samples were submitted to BIGS Laboratory in Ouagadougou after drying, the entire sample is crushed to 6 mm and pulverised to achieve 85% passing 106 μm. The pulverised samples are returned to site and rotary split to 1 kg for use as original samples and duplicates. Samples are returned to BIGS for Au determination by 1kg LeachWELL with atomic absorption spectrometry (AAS) finish.
Drilling techniques
  • Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).
  • RC drilling was undertaken using a contractor owned rig with auxiliary air. 4” or 4 1/2” face sampling hammers are used.
  • Diamond drill core material from both surface drilling and pre-collars is collected from a combination of HQ and NQ diameter diamond drilling (collaring in HQ and change over to NQ diameter in fresh rock) obtained by wireline drilling with standard tube.
  • Core orientations were completed using Reflex ACT III RD and ACTx orientation tools with the orientation line marked up at the rig side and reviewed by geologists in the core shed.
Drill sample recovery
  • Method of recording and assessing core and chip sample recoveries and results assessed.
  • Measures taken to maximise sample recovery and ensure representative nature of the samples.
  • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
  • Diamond core recoveries are measured in the core trays and recorded as recovered meters and recovered % as part of the geological logging process. RC sample recovery was qualitatively logged with weights of bulk samples recorded at the rig side.
  • Sample recovery and integrity was maximised by drilling with sufficient air pressure to maintain dry samples with holes stopped if significant water ingress. Dry, moist or wet samples are recorded in the database.
  • Examination of the RC and DD composite grade distributions suggests a slight positive bias between the RC and DD composite sample populations at grades <0.15 g/t, and a negative bias between these two populations at grades higher than 0.20 g/t. These biases are not considered critical, and no correction factors were applied.
Logging
  • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
  • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.
  • The total length and percentage of the relevant intersections logged.
  • Logging protocols were followed to a level of detail suitable for support of the Mineral Resource and Ore Reserve estimate. Both RC chip samples and core samples include quantitative analysis (Niton XRF) and photographs. Core sample logging included qualitative data such as lithology, weathering intensity, competence (RQD) and discontinuities.
  • All reported drilling is logged in its entirety.
Sub-sampling techniques and sample preparation
  • If core, whether cut or sawn and whether quarter, half or all core taken.
  • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.
  • For all sample types, the nature, quality and appropriateness of the sample preparation technique.
  • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
  • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.
  • Whether sample sizes are appropriate to the grain size of the material being sampled.
  • Core samples are collected from half-drill core cut lengthwise with a diamond saw.
  • RC samples representing a 1/8 split of each meter drilled are collected from a rig-mounted cone splitter. Drilling is discontinued if dry sample is unable to be maintained.
  • Field duplicates are collected from the RC rig splitter and inserted into the regular sample stream every 50 samples. Mineralised RC field duplicates for 2025 drilling are within 1 % of the original split. Lab-aware pulp duplicates a inserted every 25 samples for diamond core samples.
  • For both RC and DD samples, the entire sample is crushed and pulverised with >85% passing 75microns.
  • The 2-3 kg sample size is deemed appropriate given that the gold occurs as fine grained electrum.
Quality of assay data and laboratory tests
  • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
  • For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
  • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.
  • Reviews of the sampling, analytical, and quality assurance and quality control (QA/QC) protocols used on the RC and core programs have been completed and acceptable levels of accuracy have been achieved.
  • No geophysical tools, spectrometers, or handheld XRF instruments have been used in the reported exploration results to determine chemical composition at a semi-quantitative level of accuracy. Assaying for gold is by the LeachWELL bottle roll cyanide leach method. Gold content in the solution is determined using atomic absorption analysis. For all the samples having liquor grade >0.2 g/t Au, the tail is washed, dried and a 50 g charge is split and submitted for assaying using a conventional fire assay procedure on 50 g sub-sample.
  • The QA/QC protocol since 2011 is to submit 2% Blind Field Duplicates, 3% Blind Pulp Duplicates, 5% Lab Aware Pulp Duplicates, 2% Blind Blanks and 3% Blind Standards.
  • The laboratory inserted commercial standards and completed repeat assays. Repeat or duplicate analysis for samples shows that the precision of samples is within acceptable limits, and a review of results from both laboratory and Company inserted commercial standards indicate acceptable levels of accuracy have been established.
Verification of sampling and assaying
  • The verification of significant intersections by either independent or alternative company personnel.
  • The use of twinned holes.
  • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
  • Discuss any adjustment to assay data.
  • The Competent Person has confirmed the sample preparation, security, analytical procedures and QA/QC undertaken are adequate for the purposes of Mineral Resource estimation and that there are no factors that materially impact the reliability or accuracy of the dataset employed in the calculation.
  • Data acquisition is completed on a combination of paper log sheets, and entry into a self-validating data entry software package (LogChief). Integrated datasets have been uploaded to the Company’s SQL hosted database and archived on physical back-up drives.
  • There are no twinned holes.
  • Below detection limit values (negatives) have been replaced by background values.
Location of data points
  • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
  • Specification of the grid system used.
  • Quality and adequacy of topographic control.
  • The borehole collars are spotted in the field and pegged using a differential global positioning system (DGPS) set to achieve sub-metre accuracy. Post drilling, the completed holes are surveyed by Bomboré mine surveyors using Trimble GNSS with correction by real time kinematic (RTK) to ensure sub decimeter accuracy.
  • Grid system is based on the UTM30N grid on the WGS84 ellipsoid. Down hole surveys were undertaken by the Company using a Reflex Ez-Trac tool and Reflex OMNI Gyro with readings measured in continuous and multishot mode with readings taken between 10-30m. Holes are validated in IMDEX Hub prior to inclusion in the drillhole database. Azimuths measured using magnetic fields are converted to a geographic azimuth using the declination applicable at the time of the survey.
Data spacing and distribution
  • Data spacing for reporting of Exploration Results.
  • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
  • Whether sample compositing has been applied.
  • Data spacing is variable across the deposit, ranging from 50x50m at the periphery to 25x25m in the more densely drilled core.
  • The oxide resources have been defined along 50 m-spaced drill sections with 25 m between the drill collars. The hard rock resources have been defined generally along 50 m-spaced drill sections with 50 m between the drill collars.
  • Drill samples were composited to 1m for use in resource estimation. Mining at Bomboré has demonstrated reasonable continuity over a strike of 10 km at a cut-off grade of 0.15 g/t Au. At this cut-off grade, the gold mineralisation forms corridors 500 m to 1,000 m in length and 10 m to 100 m in width. At a cut-off grade of 0.5 g/t Au, the higher-grade subdomains have a strike length of up to 500 m and a width typically between 5 m and 30 m.
  • Support of the strong continuity of mineralisation along strike has been confirmed by mining production and mapping of pit walls and floors.
Orientation of data in relation to geological structure
  • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
  • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
  • In all areas, the drilling direction is opposite to the dip and orthogonal to the average strike of the lithological units, major fabrics, and wireframed mineralised domains. The plunge of the boreholes at the collar is generally 50° ±5°, thereby intersecting the lithological units, major fabric and wireframed mineralised domains at an angle between 65° and 90°.
  • No sampling bias was deemed to have occurred.
Sample security
  • The measures taken to ensure sample security.
  • Strict security measures are applied throughout the sampling, sample preparation, and analytical stages. The RC samples and the drill core retrieved by the drillers are collected and handled at the drill site by Orezone personnel. The sample bags are transported by a dedicated driver to a secure storage area in the Bomboré Gold Project area. The sample storage area at the Bomboré Gold Project is fenced and a watchman provides full-time security. Finally, the samples are dispatched to the analytical laboratories under the direct control of Orezone staff, who monitor the preparation and shipment of the samples. This procedure ensures reasonable chain of custody by Orezone from the drill sites to the analytical laboratory.
Audits or reviews
  • The results of any audits or reviews of sampling techniques and data.
  • In 2017, Mr Yassa collected 50 samples from 15 RC boreholes and 35 cored boreholes during the site visit for independent analysis of gold content. There was a good correlation between the independently collected verification samples analysed at SGS and the Orezone data.


Section 2 – Reporting of Exploration Results

Criteria JORC Code Explanation Commentary
Mineral tenement and land tenure status
  • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
  • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
  • The Project covers an area of 12,963 ha and consists of one Industrial Operating Permit (the Bomboré Mining Permit) of 2,887 ha, surrounded by four Mining Exploration Permits: the Bomboré II Exploration Permit of 1,265 ha, the Bomboré III Exploration Permit of 3,360 ha, the Bomboré IV Exploration Permit of 833 ha and the Bomboré V permit of 4,618 ha.
  • The Bomboré Mining Permit is registered in the name of Orezone Bomboré S.A. (OBSA), a 90%-owned subsidiary of Orezone Inc. S.A.R.L, itself a 100%-owned subsidiary of Orezone Inc., which is 100% owned by Orezone. The Bomboré Mining Permit was granted to OBSA by way of Decree No. 2016-1266/PRES/PM/MEMC/MINEFID/MEEVCC dated 30 December 2016 and is valid for an initial tenure of 10.7 years but can be extended if the mine life is extended beyond what was initially applied for.
  • All mining ventures in Burkina Faso are subject to a 10% free carried interest and a royalty on gold sold in favour of the Government of Burkina Faso, upon the award of an operating permit from the government.
Exploration done by other parties
  • Acknowledgment and appraisal of exploration by other parties.
  • Between 1989 and 2000, mineral exploration programs were completed by La Générale des Mines et des Carrières (GMC), Channel, Solomon, and Placer Dome. A total of 1,271 core, RC and rotary air blast (RAB) boreholes were completed. Channel completed 10 diamond boreholes for approximately 1,100 m, 261 RC boreholes for approximately 20,000 m, and 1,000 RAB boreholes for approximately 34,000 m.
Geology
  • Deposit type, geological setting and style of mineralisation.
  • Bomboré is an orogenic gold deposit, exhibiting structural control and associated hydrothermal alteration mineral assemblages. The deposit represents a large tonnage, low-grade gold mineralisation system similar to other Birimian gold deposits, such as Kiaka in Burkina Faso, Damang, Yamfo-Selwi in Ghana, and Sadiola in Mali.
  • The geological setting is part of a northeast–southwest trending greenstone belt extending for 50 km. The permit area is underlain mainly by a metasedimentary flysch-type sequence dominated by metasandstones with subordinate carbonaceous meta-pelites and polymictic metaconglomerates.
  • The Bomboré gold deposits occur within a major north to northeast trending structure. The gold deposits were discovered by tracing gold-in-soil anomalies to bedrock by drilling. Gold mineralisation is associated with arrays of structurally controlled quartz veins and veinlets and attendant silica, sulphide, and carbonate alteration.
Drill hole Information
  • A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
    • easting and northing of the drill hole collar
    • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar
    • dip and azimuth of the hole
    • down hole length and interception depth
    • hole length.
  • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
  • The Bomboré mine commenced production in 2022.
  • The Mineral Resource estimate includes a total of 6,322 RC drill holes and 1,426 diamond drill core holes.
  • The Competent Person has determined that the detailed information on the drill holes is not material and does not detract from the understanding of the report.
Data aggregation methods
  • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.
  • Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
  • The assumptions used for any reporting of metal equivalent values should be clearly stated.
  • All intersections are assayed on predominantly 1 m intervals and no top-cuts are applied to exploration results.
  • Reporting of mineralised intervals is based on a lower cut-off grade of 0.28 g/t in the Oxide+Upper Transition zone, and 0.45 g/t Au in the Lower Transition+Hard Rock zone, with a minimal width of 1.5 m and up to a maximum of 3.0 m of dilution being included.
Relationship between mineralisation widths and intercept lengths
  • These relationships are particularly important in the reporting of Exploration Results.
  • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
  • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).
  • The majority of the drilling was planned to intersect mineralisation in a perpendicular manner or as close as practicable.
  • The true width of the mineralisation to drill core length:

-Siga: 80-100%

-P8P8 & P17: 75-85%

-North Zone: 60-80%

-P16: Yet to be determined

Diagrams
  • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
  • Appropriate diagrams have been included for reporting of significant intercepts.
Balanced reporting
  • Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
  • All grades, high and low, are reported accurately with ‘from’ and ‘to’ depths and ‘hole identification’ shown.
Other substantive exploration data
  • Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
  • All material exploration data including metallurgical test results have been reported.
Further work
  • The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).
  • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
  • In 2024 Orezone designed an initial 30,000 m first pass exploration drill program, that will test multiple targets across the greater than 14 km long mineralised system. This initial program will be used to refine target priority for subsequent exploration drilling in this multi-year campaign, as well as to advance the project’s evolving structural framework. Phase 1 of this initial program will be centred on the North Zone and thereafter, drilling will progressively advance towards the southern half of the mining lease.
  • First pass drilling along the Bomboré Shear Zone (BSZ) will be focused on testing the potential of the mineralised system to depths of up to 400 m. While drilling will be wide spaced in nature, the objective will be to increase pit depths longer-term, as well as to illustrate the broad continuity of multiple higher grade plunging zones of mineralisation that are well defined by shallower drilling and current mining operations. These higher-grade plunging sub-zones may further support an underground mining scenario later in the project’s mine life, once high-grade near-surface open pits are depleted.

__________________________________
1. Results are from multiple zones, are uncapped, and have variable true widths. See Section 2 of release for per zone estimated true widths.

Photos accompanying this announcement are available at 

https://www.globenewswire.com/NewsRoom/AttachmentNg/7f14d351-07c2-43fc-aaed-9588a9b333e9

https://www.globenewswire.com/NewsRoom/AttachmentNg/d3078b32-4669-4e3d-9c4d-5421d3065048

https://www.globenewswire.com/NewsRoom/AttachmentNg/e44d49e3-64ec-47e0-b986-2a7723d7caed

https://www.globenewswire.com/NewsRoom/AttachmentNg/423a0461-c4b3-4bb1-a8eb-d3d5c8510acb

https://www.globenewswire.com/NewsRoom/AttachmentNg/b8ef5ce9-2be6-452e-9ea4-f3d4c890780e 


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