Orezone Gold Corporation · TSX:ORE
Orezone Gold — Investor Presentation (November 2021)
31 slides from Orezone Gold's investor presentation, November 2021
Slide 1: Building Burkina Faso's Next Gold Mine
NS OREZONE Bombore Building Burkina Faso's Next Gold Mine November 2021 TSX.V: ORE OTCMKTS: ORZCF
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains certain information that may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward looking statements” within the meaning of applicable U.S. securities laws (together, the “forward-
Slide 3: About Orezone
About Orezone BOMBORE GOLD PROJECT 90% owned by Orezone First Gold Pour in Q3-2022 10% Burkina Faso Government & Fully financed development company with a proven track record of project construction and operations, financing, capital markets and M&A ~~ Large oxide resource underlain by an open sulph
Slide 4: Orezone: 2021 To Date
Orezone: 2021 To Date first gold in Q3-2022 Bomboré — Building Burkina Faso's Next Gold Mine 01 02 03 04 05 06 US$189M project construction finance package closed US$7.15M Silver Stream to fund exploration Lycopodium mobilized on-site - same team that built Perseus’ Yaouré and WAF’s Sanbrado project
Slide 5: Burkina Faso: An Established Gold Mining Jurisdiction
Burkina Faso: An Established Gold Mining Jurisdiction 01 Supportive mining jurisdiction ® 15 producing gold mines ~ Majority built on/ahead of schedule and on/under budget *& Strong support from local community and Government 02 “15Moz gold within 20km of Bomboré ®& West African Resources: Sanbrado,
Slide 6: Bomboré 2019 FS Economics
Bomboré 2019 FS Economics +13 years Mine Life 1.6Moz LOM Gold Production — 133.8ko0z/year first 10 years AISC®) of $672/oz first 10 years Capital Cost Phase | Oxide $153M Phase II Sulphide Expansion $63.2M ® Discounted to the planned start of commercial production BASE CASE $1,300/oz Au After-Tax NP
Slide 7: Bomboré Construction
NS OREZONE Bomboré Construction
Slide 8: West African Gold Projects Surpass Expectations
West African Gold Projects Surpass Expectations & Projects in West Africa have a long history of being built ahead of schedule and under budget Lycopodium West African projects reach design throughput in “30 Days on average and exceed nameplate capacity post commissioning West African Projects Lycop
Slide 9: Construction Progress — On Time and On Budget
Construction Progress — On Time and On Budget Detailed engineering completed, consistent with 2019 Feasibility Study Major contracts have been entered into - only minor contracts remain All major equipment and material orders were placed prior to recent cost inflation Site earth works progressing we
Slide 10: Site Water Management Pond
Site Water Management Pond rete
Slide 11: a
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Slide 12: Off Channel Reservoir
Off Channel Reservoir
Slide 13: Oxide Plant - Ball Mill Fabrication
Oxide Plant - Ball Mill Fabrication a ne -_ | Bomboré - Building Burkina Faso’s Next Gold Mine NS OREZONE
Slide 14: Construction Timeline
Construction Timeline Oxide Construction Timeline Regular Corporate Updates EPCM Site Preparation Earthworks OCR Mining and Development Frequent Construction Tailings Storage Facility Videos Process Plant Construction OCR Fill Commissioning First Gold Pour Q3-2022 Process Plant Ramp-Up First Gold Po
Slide 15: Exploration & Expansion Potential
NS OREZONE Exploration & Expansion Potential
Slide 16: Overview of Exploration Potential
> Overview of Exploration Potential 3 The primary objective of previous drilling at Bomboré was to bring the main shear zone to the Proven and Probable category to support a feasibility study and subsequent project financing in a cost-effective manner ® With the project financing now in place, Orezo
Slide 17: Near Surface High-Grade Mineralization at P17 Trend
Near Surface High-Grade Mineralization at P17 Trend ®& Drilling into the untested Gap between P17S NE and P17 extends strike length of mineralization over 600 m * 50 m of 1.40 g/t gold, including 3 m of 8.89 g/t gold into the untested gap & Drilling returns best hole to-date at P17S NE * 32m of 3.98
Slide 18: Near Surface High-Grade Mineralization at P17 Trend
Near Surface High-Grade Mineralization at P17 Trend P17S NE Extension Area: Section 730250 - Looking West 2021 P17S NE “600 m mineralized trend outside of current reserves i HE id at rin 3019 Fea ibility Study Pit outine IH oe | ce M 13434 | WW poo Au g/t f | Shallowly plunging Oo Geet ore shoots co
Slide 19: Infill Drilling
Infill Drilling ~~ Multiple opportunities throughout the project to convert inferred resources near the pit bottom to M&l through additional drilling Current reserves are based on US$1,250/oz gold ¢ Current resources based on US$1,400/oz gold * Inferred resources cannot be included in a mine plan ~
Slide 20: Siga South Inferred Resources
Siga South Inferred Resources ¥ 10500 ca 4—f ff ‘Au_inferred Au_Total OX_NITON2 ae 15 2 =” k 1 1 Bre 08 ose 0.35 0.29 AMC FS Pit Design . Conceptual USD $1,400 Pit Shell 3 00cee+ 3 O0PeCLF 3 00L8eL+ 2 +100 Junge rolang Nah 3) E ise 25 50
Slide 21: Maga Hill Inferred Resources
Maga Hill Inferred Resources Au_Inferred Au_Total Ox_Niton2 AMC FS Pit Design Conceptual USD $1,400 Pit Shell ay ry
Slide 22: Previous Drill Results Below Existing Reserve Pits
Previous Drill Results Below Existing Reserve Pits 22 el P m m SIGA EAST BBC2329 BBDO246 BBDO450 BBC4555 BBDO241 BBC4788 iv] o ° ay SIGA SOUTH BBD0647 BBDO'181 BBDO182 BBDO183 BBDO178 BBDO179 BBDO174 BBDO170 BBDO167 o oO ia) x a fo) a MAGA HILL BBDO904 BBDO803 BBDO803 BBDO133 BBD0878 BBDO136 Bomboré
Slide 23: Staged plant development: oxide and sulphide circuits
SS Le ¥ ; _ et SLs — STAGE 1: Oxide Plant ROOM TO EXPAND SULPHIDE CIRCUIT STAGE 2: Sulphide Circuit Oxide plant capacity of 5.2Mtpa * Oxide feed reduced to 3.0Mtpa upon commissioning of the sulphide circuit Sulphide circuit capacity of 2.2Mtpa * Expandable capacity to 4.0Mtpa with the addition of a
Slide 24: Value Proposition
NS OREZONE Value Proposition
Slide 25: Re-Rate Opportunity
Re-Rate Opportunity Lifecycle of a Junior Mining Company Relative Value EXPLORATION DEVELOPMENT MINING High Risk - H fh Potential Value + Lowered Risk Re-Rating Optimal Investing Stages RS OREZONE Feasibility Construction & Start-Up Operations Concept 25 Project execution is key to a re-rate ¢ Lycop
Slide 26: Share Price Performance During Construction
Share Price Performance During Construction Share Price Performance of Single Asset Development Companies During Construction 300% West African Resources 275% Commercial Production g 250% June 2020) E 225% 2 200% @ 175% 9 2 150% © 125% Roxgold Declares 5 Commercial Production 8 100% (October 2016) g
Slide 27: Capital Structure & Research Coverage
Capital Structure & Research Coverage Capital Structure (No 2021 Shares Issued 323,632,806 Shares Fully Diluted 397,635,163 Warrants (ORE.WT:TSX.V; CAD$0.80; exp. Jan. 29, 2023) 17,685,450 Options (CAD$0.30 - $1.05) 21,143,500 Restricted Share Units 2,368,000 Deferred Share Units 398,000 Convertible
Slide 28: CSR
NS OREZONE CSR
Slide 29: Livelihood Restoration Programs
Livelihood Restoration Programs * Market gardens developed - agronomist hired - additional gardens being developed & Specialty cash crops developed - spices, shea butter & Chicken farming, goat breeding and weaving commenced - successful and profitable & Reclamation including tree and shrub plantati
Slide 30: Phase I RAP - Construction Completed
Phase | RAP - Construction Completed | Bomboré — Building Burkina Faso’s Next Gold Mine NS OREZONE
Slide 31: A Clear Path to Value Re-rating
A Clear Path to Value Re-rating Fully Funded Project Construction Experienced Management Team and Contractors Competitive Cost of Capital Strong Management Team with Extensive Construction Experience Established Early Debt Package that Preserves Equity Value Maintain Flexibility for Additional Expan