Orezone Appoints Sean Harvey to the Board of Directors

VANCOUVER, British Columbia, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) ("Orezone" or "Company") is pleased to announce that as part of its ongoing board renewal process, veteran mining industry professional, Sean Harvey, has joined the Company's Board of Directors.

Mr. Harvey has held multiple senior executive and Board positions over the last 20 years and was most recently the Chair of the Board of Perseus Mining Limited. During his 14-year tenure on the Board and as Chair, he was actively involved in Perseus's growth strategy, which saw the company grow from a single asset producer in Ghana into a highly profitable mid-tier West African mining company. During this period, Perseus' market capitalization grew from approximately US$210 million to over US$1.5 billion.

Michael Halvorson, Chair of the Board, commented: "It's my pleasure to welcome Sean to Orezone's Board of Directors. Sean's well-established track record in West Africa and his extensive business and leadership experience will prove invaluable as Orezone continues to expand production at Bomboré and establish a platform for growth in the region."

Mr. Harvey commented: "I am very pleased to be joining Orezone's Board of Directors at such a pivotal point in the Company's growth. With a successful first full year of production, the Company has established a solid platform and is now entering the next stage of growth with plans to increase gold production at Bomboré to over 200,000oz/year. Having worked in West Africa for several years, I am excited about the growth prospects for Orezone as the Company develops into mid-tier gold producer."

Mr. Harvey is currently Chair of Victoria Gold Corp. and has extensive board and management experience including TVX Gold Inc., Orvana Minerals Corp. and Serabi Gold plc. He has also served as chair of several audit, governance, and special committees. Mr. Harvey holds an MBA in Finance from the University of Toronto and an LLB from the University of Western Ontario, specializing in tax and corporate law. Prior to his tenure as a mining executive, Mr. Harvey spent 10 years in investment and merchant banking, primarily focused on the mining sector.

About Orezone Gold Corporation

Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a Canadian mining company operating the open pit Bomboré Gold Mine in Burkina Faso.

The Company is mining and processing the Phase I near surface free-dig oxides at a throughput of 5.9 million tonnes per annum (Mtpa). The Company's planned Phase II Expansion consists of an independent 4.4Mtpa hard rock plant operating alongside the existing oxide plant to deliver a significant increase in annual gold production at a low incremental capital cost. Construction of the new 4.4Mtpa hard rock plant will enable Bomboré to produce an average of 209,000 gold oz/year at a mine-level AISC of $1,121/oz for over 8 years. First gold from the Phase II expansion is scheduled for Q3-2025. Significant exploration potential exists to expand Bomboré's mineral reserves through future resource conversion and new discoveries from drilling of promising high-priority targets.

Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets and M&A.?

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

Contact Information

Patrick Downey
President and Chief Executive Officer

Vanessa Pickering
Manager, Investor Relations

Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
[email protected] / www.orezone.com