Orezone Reports Robust Q4-2024 GOLD Production of 36,502 Ounces, with the Full Year Exceeding the Mid-Point of 2024 Guidance
OREZONE GOLD CORPORATION
450-505 Burrard Street
Vancouver, BC, V7X 1M3
T: 778-945-8977
OREZONE REPORTS ROBUST Q4-2024 GOLD PRODUCTION OF 36,502 OUNCES, WITH THE FULL
YEAR EXCEEDING THE MID-POINT OF 2024 GUIDANCE
January 7, 2025 – Vancouver, BC - Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company”
or “Orezone”) is pleased to announce its fourth quarter and full year 2024 gold production results from
its Bomboré Gold Mine:
• Q4 gold production of 36,502 ounces.
• Annual gold production of 118,746 ounces exceeding the mid-point of guidance of 110,000 to
125,000 ounces.
• Record quarterly ore processed of 1.65 million tonnes (“Mt”) or 18,163 tonnes per day, which
is 27% above nameplate design and a 14% increase from Q4-2023. Importantly, gold recoveries
remain robust at the significantly higher throughput rates, with Q4 gold recovery at 89.1%.
• Zero lost-time injuries in 2024, continuing Orezone’s strong safety record.
• Gold sales in Q4 of 34,833 ounces at an average realized price of US$ 2,632/oz, resulting in
revenue of US$91.7 million.
• For the full year, gold sales totaled 118,697 ounces at an average realized price of US$2,384/oz,
resulting in revenue of US$282.9 million.
Patrick Downey, President & CEO stated, “The fourth quarter marked another significant milestone for
the Bomboré Gold Mine, with record quarterly mill throughput of 1.65Mt of ore processed. While Q4 was
expected to be the highest production quarter due to mine sequencing, the higher throughput rates
solidified a strong finish to the year. Gold production in Q4 totaled 36,502 ounces, a 37% increase quarter-
over-quarter, with annual production of 118,74 6 ounces exceeding the mid -point of guidance . This
accomplishment is a testament to the hard work and dedication of our operating team, with annual
production guidance now achieved for the second consecutive year since the oxide plant was
commissioned in 2022.
The achievements at Bomboré in 2024 have now positioned Orezone for a transformational 2025 . The
Stage I hard rock plant expansion is well-advanced, with completion and commissioning set for Q4 of this
year. This next stage of growth at Bomboré, which will increase gold production by an additional 50%, is
fully financed, and remains on time and on budget. The Stage I hard rock plant incorporates the same
conservative design parameters as the current oxide plant , and as such , we see the potential for
significantly greater capacity than its 2.5Mt per annum design.
We look forward to providing regular hard rock construction milestone updates throughout the year, as
well as drill results from our ongoing multi-year exploration campaign at Bomboré which targets a long-
term global resource base of 7-10 million gold ounces.”
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Bomboré 2024 Production Results
Unit Q4-2024 Q3-2024 Q2-2024 Q1-2024 FY2024
Ore processed Tonnes 1,652,844 1,491,740 1,428,396 1,355,619 5,928,599
Ore grade Au g/t 0.77 0.63 0.64 0.78 0.71
Plant recovery % 89.1 87.4 86.8 89.0 88.2
Gold produced Au oz 36,502 26,581 25,524 30,139 118,746
Gold sold Au oz 34,833 27,698 24,937 31,229 118,697
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
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.
Qualified Persons
The scientific and technical information in this news release was reviewed and approved by Mr. Rob
Henderson, P. Eng, Vice -President of Technical Services and Mr. Dale Tweed, P. Eng., Vice -President of
Engineering, both of whom are Qualified Persons as defined under NI 43-101 - Standards of Disclosure for
Mineral Projects.
Cautionary Note Regarding Forward-Looking Statements
This press 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 (together, “f orward-looking statements”). Forward-looking statements are frequently
characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”,
“possible” and other similar words, or statements that certain events or conditions “may”, “will”, “could”, or “should”
occur. Forward-looking statements in this press release include, but are not limited to, statements that Orezone is
positioned for a transformational 2025 , the construction of the Phase II Hard Rock expansion is well advanced (and
fully financed) with completion and commissioning set for Q4 -2025 and once commissioned, will increase annual
production by 50%, the potential greater capacity than the 2.5Mtpa design of the hard rock plant and the multi-year
exploration campaign at Bomboré which targets a long-term global resource base of 7-10Moz.
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All such forward-looking statements are based on certain assumptions and analyses made by management in light
of their experience and perception of historical trends, current conditions and expected future developments, as well
as other factors management and the qualified persons believe are appropriate in the circumstances.
All forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected in the forward-looking statements including, but not
limited to, delays caused by pandemics, terrorist or other violent attacks (including cyber security attacks), the failure
of parties to contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their
enforcement by applicable authori ties; social or labour unrest; changes in commodity prices; unexpected failure or
inadequacy of infrastructure, the possibility of unanticipated costs and expenses, accidents and equipment
breakdowns, political risk, unanticipated changes in key management personnel and general economic, market or
business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results
and the failure of ongoing and uncertainties relating to the availability and costs of financin g needed in the future,
and other factors described in the Company's most recent annual information form and management discussion and
analysis filed on SEDAR+. Readers are cautioned not to place undue reliance on forward -looking statements.
Although the forward-looking statements contained in this press release are based upon what management of the
Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be
consistent with these forward-looking statements. These forward-looking statements are made as of the date of this
press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities
laws, the Company does not assume any obligation to upd ate or revise the forward -looking statements contained
herein to reflect events or circumstances occurring after the date of this press release.