Orezone Gold Corporation · TSX:ORE
Orezone Gold — John Tumazos Virtual Conference 2022
35 slides from Orezone Gold's conference presentation, Aug 9, 2022
Slide 1: Bomboré: Burkina Faso's Next Gold Mine
NS OREZONE Bombore Burkina Faso's Next Gold Mine John Tumazos Virtual Conference August 9, 2022 TSX: ORE OTCQX: 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: August 2022 Update: First Gold Imminent
August 2022 Update: First Gold Imminent BOMBORE GOLD PROJECT 90% owned by Orezone 10% Burkina Faso Government ¥ Introduction to Orezone * Construction overview and update Grade Control Drilling P17 exploration update and next steps Future expansion potential ~~ Value catalysts First Gold Pour Q3-202
Slide 4: Orezone: Poised for a Material Re-Rating
Orezone: Poised for a Material Re-Rating Building Bomboré on-schedule and under-budget — set to be Burkina Faso’s 16" producing mine Orezone is set to Conducting exploration through construction to support future become West Africa’s expansions — exceptional results from P17 led to an expanded 2022
Slide 5: Alignment of Interests
5 Alignment of Interests * Orezone’s Core Principles Management and board aligned with shareholders * Acquired “5% of Orezone’s outstanding shares in the market Protect the Capital Structure & % Focused on NAV/share and share price accretion Staged development reduces risk & dilution Low Cost of Cap
Slide 6: 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 communities and Government 02 “17Moz gold within 20km of Bomboré* ®& West African Resources: Sanbra
Slide 7: Bomboré Construction
NS OREZONE Bomboré Construction
Slide 8: Bomboré Oxide Plant: Construction Completed
Bomboré Oxide Plant: Construction Completed ® Construction completed ®& All equipment installed and energized & Site commissioning in final stages & First gold pour Q3-2022 | Bomboré — Burkina Faso’s Next Gold Mine NS OREZONE
Slide 9: Plant Site
Plant Site Lf. Gold Room d Plant Overview — Looking Noah: v ‘ J = Z —s & \ i} —.. e. ROM Pad = On & Off Ramps Elution Area
Slide 10: ROM Pad: Ore Fingers Ready for Mill Feed
oo ROM Pad: Ore Fingers Ready for Mill Feed 10 Bomboré — Burkina Faso’s Next Gold Mine NS OREZONE
Slide 11: Off Channel Reservoir & Mining
Off Channel Reservoir & Mining OCR mining completed in early May Serves as water storage during operations © OCR water infrastructure installed and tested OCR filled early in wet season & Mining completed successfully using local contractor AMt of ore stockpiled from OCR available to feed plant Mini
Slide 12: Tailings Storage Facility
Tailings Storage Facility & TSF earthworks and lining complete & Overland piping for TSF and reclaim water supply completed 12 | Bomboré — Burkina Faso’s Next Gold Mine Sy OREZONE
Slide 13: Ancillary Buildings
Ancillary Buildings & Ancillary buildings essentially complete, including: ¢ Security entrance ¢ Plant site offices ¢ Reagent storage 2 Z : = = = te > a R agents Storage 3 — ¢ Laboratory * Control room * Warehouse Sechaoa : TSF Feed and Reclaim Water Piping 13 | Bomboré — Burkina Faso’s Next Gold Mi
Slide 14: Bomboré Camp and Infrastructure
Bomboré Camp and Infrastructure Front Gate Security 14 Bomboré — Burkina Faso’s Next Gold Mine NS OREZONE
Slide 15: Grade Control Drilling
NS OREZONE Grade Control Drilling
Slide 16: Grade Control Drilling: A1 and A2 Starter Pits
Grade Control Drilling: A1 and A2 Starter Pits © Grade control drilling confirms the geological interpretation and grade estimation in ALL starter pits * Returned consistent thicker high-grade intervals * Will be the source of higher- grade oxide mill feed for the first year of production * Higher-g
Slide 17: ro TBO q i ro
ro TBO q i ro Hae 2 alr wn Ea vn fo. Ea toner zanna 20.2000 scale 12810 Grade g/t gold) 20.00 4.49 11.00 7.48 19.00 3.62 23.00 2.88 24.00 2.21 10.00 3.84 6.00 6.19 9.00 4.07 6.00 5.62 ~ ns 4.00 22.42 ae % wae 0.00 31.00 31.00 2.30 Figure 1: At Pit Resources and Reserves Model Plan View |s{+oRezone F
Slide 18: A1 and A2 Starter Pits
A1 and A2 Starter Pits 18 | Bomboré — Burkina Faso’s Next Gold Mine Sy OREZONE
Slide 19: Exploration & Expansion Potential
NS OREZONE Exploration & Expansion Potential
Slide 20: Overview of Exploration Potential
LEGEND @ Ox-Tr>=10 gpt @ Ox-Tr>=5 gpt Overview of Exploration Potential oa (Mining permit (© Exploration permit Drilling at the P17 Trend continues to return excellent results beyond current reserves and resources — high-grade and near-surface ~~ Several higher-grade zones within the main ore body a
Slide 21: Significant Expansion Potential: P17 Trend
Significant Expansion Potential: P17 Trend 6 o ®& Drilling continues to intersect several wide zones of multigram gold mineralization near surface and outside of current reserves & Two of the best intersections returned from new P17S NE drilling in 2021 and 2022 * 32.00 m of 3.98 g/t gold, including
Slide 22: P17 Exploration: What is it telling us?
P17 Exploration: What is it telling us? Several repeat folds that start at or near surface - ease of mining ¢ Continuity of repeat folds being confirmed by current drilling ~~ P17S open at depth and along strike Recent drilling has returned thick high-grade intercepts outside of resource envelopes t
Slide 23: Main Shear Zone Resource & Reserve Conversion
Main Shear Zone Resource & Reserve Conversion LEGEND. @ OxTr>=10 pt ~~ Multiple opportunities throughout the project to convert inferred resources ; © Ox-1r>=10 9pt @ OxTr>=10 gpt near the pit bottom to M&l through additional drilling el Many perma Exploration permit Current reserves are based on US
Slide 24: Siga South Inferred Resources
Siga South Inferred Resources ¥ 10500 ca 4—f ff (00 ‘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+ +100 Junge rolang Nah 3) E ise 25 50
Slide 25: Previous Drill Results Outside Reserve Pits
Previous Drill Results Outside Reserve Pits a To Length esmcat | wee | or | ay | Mest | BSNS 88¢2329 41.00 46.00 5.00 2.19 MAGA HILL Ela 500246 43.50 63.00 19.50 6.06 [NE ssp0s03 HE -8800450 208.00 215.00 7.00 3.23 [EE 5800203 3804555 56.00 63.00 7.00 21 [ERE ceposs 3800241 69.00 73.50 4.50 3.86 [EE
Slide 26: Stage 1 Oxide Plant and Stage 2 Sulphide Circuit
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 27: CSR
NS OREZONE CSR
Slide 28: Livelihood Restoration Programs
Livelihood Restoration Programs & Market gardens developed - agronomist assists in marketing and pricing - additional gardens being developed - Specialty cash crops developed - spices, shea butter & New farming methods introduced and proven successful & Commercial scale chicken farming introduced, g
Slide 29: Phase I RAP — Building Better Communities
Phase I RAP — Building Better Communities | Bomboré — Burkina Faso’s Next Gold Mine NS OREZONE
Slide 30: Near Term Value Propositions
NS OREZONE Near Term Value Propositions
Slide 31: Near-Term Value Catalysts
Near-Term Value Catalysts 2022 Catalysts On-schedule and 01 under-budget for first gold pour in Q3 02 Commercial production in Q4 Ongoing exploration drilling at 03 P17 and other areas throughout 2022 4 Oxide and sulphide expansion study to be delivered H1-2023 3 OREZONE 31 | Bomboré - Burkina Faso’
Slide 32: Re-Rate Opportunity
Re-Rate Opportunity Lifecycle of a Junior Mining Company DEVELOPMENT d MINING Re-Rating EXPLORATION | High Risk - H High Potential Value i Lowered Risk Optimal Investing Stages " ¥ bs ‘OREZONE Relative Value Feasibility Construction & Start-Up Operations Concept Project execution is key to a re-rate
Slide 33: 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 34: Capital Structure & Research Coverage
Capital Structure & Research Coverage Capital Structure (June 022) Shares Issued 331,985,602 Shares Fully Diluted (assumes Convertible conversion) 401,582,315 Warrants (ORE.WT:TSX; C$0.80; exp. Jan. 29, 2023) 11,560,750 Options (C$0.30 - C$1.42) 22,442,499 Restricted Share Units 2,237,292 Deferred S
Slide 35: Bomboré Mineral Resource and Reserve Estimates
Bomboré Mineral Resource and Reserve Estimates Mineral Resource Estimate as of January 5, 2017 Classification Measured Indicated Measured + Indicated Inferred Cutoff Tonnage Grade Contained Tonnage Grade Contained | Tonnage Grade Contained Tonnage Grade Contained Au git ooot Au git Au koz ooot Au gi