Orezone Receives Approval of Expanded Mining Permit for Bomboré
Orezone Receives Approval of Expanded Mining Permit for Bomboré
VANCOUVER, British Columbia, July 29, 2020 -- Orezone Gold Corporation (TSX.V: ORE OTCQX: ORZCF) is pleased to
announce that Burkina Faso’s National Commission of Mines has approved the modification of the Bomboré mining permit to
include all aspects of the future Phase II Expansion. This follows on from the recent environmental (ESIA) approval received in
April 2020 (see Press Release dated April 14, 2020).
The approval encompasses the Phase II mining and processing of higher-grade fresh rock and lower transition reserves, and
the high-grade P17S deposit, in addition to the Phase I oxide reserves covered under the original mining permit.
Patrick Downey, President and CEO commented, “We have now received all major permitting required to execute on the mine
plan in the 2019 feasibility study for the Bomboré Gold Project. We can now look forward to finalizing project financing and
starting full scale construction in the near future. We would also like to thank the Government of Burkina Faso and the local
communities for their continued support.”
Orezone Gold Corporation
Orezone Gold Corporation (TSX.V: ORE OTCQX: ORZCF) is a Canadian development company which owns a 90% interest in
Bomboré, one of the largest undeveloped gold deposits in Burkina Faso.
The 2019 feasibility study highlights Bomboré as an attractive shovel-ready gold project with forecasted annual gold production
of 118,000 ounces over a 13+ year mine life at an All-In Sustaining Cost of US$730/ounce with an after-tax payback period of
2.5 years at an assumed gold price of US$1,300/ounce. Bomboré is underpinned by a mineral resource base in excess of 5
million gold ounces and possesses significant exploration potential.
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
Qualified Persons
Dr. Pascal Marquis, Geo., Senior VP Exploration, and Ian Chang, P. Eng., VP Projects, are the Qualified Persons who have
approved the scientific and technical information in this news release.
For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at
www.orezone.com .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain information that may constitute “forward-looking information” under applicable Canadian
securities legislation. Forward-looking information in this press release relates to statements with respect to the expanded
Bomboré mining permit and the 2019 feasibility study including project financing, strategic plans, future operations, future work
programs, capital expenditures, and corporate and technical objectives (including those discussed in the Company’s press
release dated April 14, 2020 and the 2019 feasibility study). Forward-looking information is necessarily based upon a number
of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors
which may cause the actual results and future events to differ materially from those expressed or implied by such forward-
looking information, including the risks inherent to the recent COVID-19 pandemic, the mining industry, adverse economic and
market developments and the risks identified in Orezone’s annual information form under the heading “Risk Factors”. There
can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking
information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the
opinions and estimates of management and information available to management as at the date hereof. The Company
disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information,
future events or otherwise, except as required by law.