Orezone Gold Corporation · TSX:ORE
Orezone Gold — Q4 2022 Earnings Presentation
14 slides from Orezone Gold's earnings presentation, March 2023
Slide 1: Bomboré: Burkina Faso's Newest Gold Mine
SS"OREZONE Bombore Burkina Faso’s Newest Gold Mine (All $ figures in this presentation are in USD unless otherwise noted) TSX: ORE OTCQX: ORZCF
Slide 2: Forward Looking Statements and Qualified Persons
Forward Looking Statements and Qualified Persons This presentation contains certain information that 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 (toget
Slide 3: Bomboré: Commercial Production Achieved
Bomboré: Commercial Production Achieved ~~ Commercial Production declared on December 1, 2022 * Power issues negatively impacting production during commissioning are now squarely behind us with rental power system in full operations ~~ Process plant has ramped up rapidly and is performing above expe
Slide 4: Mill Throughput ('000s tonnes)
Mill Throughput ('000s tonnes) - 100 200 300 400 500 600
Slide 5: Financial and Operating Highlights
5 Bomboré — Burkina Faso's Newest Gold Mine Financial and Operating Highlights Operating Performance roa FY-2022 Gold Production 22,258 27831 Gold Sales Oz 24,676 24,676 Average realized gold price $/oz 1,760 1,760 AlLin sustaining costs! (‘AISC”) per gold ounce sold $/oz 1,075 1,075 Revenue $000s 4
Slide 6: Production and Unit Cost Summary
Production and Unit Cost Summary [Mining Physicals 2022] 2022 | Ore tonnes mined tonnes 1,526,949 4,818,474 Waste tonnes mined tonnes 3,087,950 8,695,210 Total tonnes mined tonnes 4,614,899 13,513,684 Strip ratio waste:ore Processes Ore tonnes milled tonnes 806,875 1,019,465 Head grade milled Au g/t
Slide 7: Cash and Liquidity
Cash and Liquidity Cash of US$9.2M at Dec 31, 2022, an increase of $1.8M from Sep 30, 2022 ¢ $5.1 million of interest and fees deferred by Coris Bank in Q4-2022 on senior loans fully settled at year- end with no penalty or extra costs Working capital position negatively effected by extended commissi
Slide 8: 2023 Guidance
1. AISC is a non-IFRS measure. See “Non-IFRS Measures” section in Orezone’s MD&A for the year ended 2. December 31, 2022 for additional information. Foreign exchange rates used to forecast cost metrics include XOF/USD of 625 and CAD/USD of 1.30. 3. Government royalties included in AISC ass
Slide 9: Strong Growth with Exploration Success - Expansion Study Underway
Strong Growth with Exploration Success - Expansion Study Underway ~~ Over 100,000 metres of drilling completed since last resource update ~~ New discoveries including the high grade P17NE extension 2022 drill program exceeded expectations in terms of infill of targeted inferred resources and expandi
Slide 10: P8P9 Drilling
P8P9 Drilling P8P9 Section 1237.5N P8P9 Section 1350N 2017 [ A72gtau | Resource Pit 1.01 git Au 30:00im 3.73 git Au (1.31 git Au 19.80 m an Mine Depletion SULPHIDE be 43.00 m TEEN om s $ i & Re) ee” 400m .. oy 4 |. L 1.27 git Au 79.00 m 2.93 git Au TR 20.00 m / $s 1.05 git Au 30.00 m 2017 Resource P
Slide 11: Timeline and Upcoming Milestones
Timeline and Upcoming Milestones Q1 production results (early April) Phase |- Oxide Plant Construction First Gold ~~ Updated Feasibility Study (Q3-23) 2023 Results & Projects Drill Results ae Updated FS ¢ Includes an additional 100,000m Grid Power Connection of drilling results Phase Il & III RAP Ph
Slide 12: Grid Power Connection
Grid Power Connection Grid power connection * Connect to existing 132kV line — Recently improved grid reliability and capacity with connection upgrades to Ghana & Cote d’lvoire * 23km grid spur line to Bomboré — $15M-18M forecasted capex — Powerline survey complete, major equipment ordered, and inst
Slide 13: Summary
Summary 2022 Achievements & 2023 Outlook 01 Strong ramp-up to commercial production Plant consistently running above 02 nameplate capacity Focused on strengthening 03 balance sheet and debt reduction Investing in near-term cost 04 reduction opportunities 05 Positioning Bomboré and Company for growth
Slide 14: Contact
NS OREZONE For more information on Orezone, please contact: Vanessa Pickering vpickering@orezone.com 604-202-2940 www.orezone.com