Orezone Gold Corporation · TSX:ORE
Orezone Gold — Investor Presentation (September 2025)
19 slides from Orezone Gold's investor presentation, September 2025
Slide 1: Build. Operate. Expand.
TSX ORE I ASX ORE I OTCQX ORZCF BUILD. OPERATE. EXPAND. Corporate Presentation | September 2025 BOMBORÉ GOLD MINE BURKINA FASO
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain “forward-looking information” within the meaning of applicable Canadian The Company provides analyst target price and recommendations for informational purposes only. These securities laws. Forward-looking information and forward-looking statements (toge
Slide 3: Build | Operate | Expand
BUILD | OPERATE | EXPAND Oxide plant built >100,000 oz/yr Tier 1 potential 14km reserve defined on-time and under-budget Operations Exploration system, average reserve depth of <40m Stage 1 Commercial Production >170,000 oz/yr Drilling Multi-year Expansion Production Guidance Achieved Underway Drill
Slide 4: 2025 A Significant Transition Year
BUILD | OPERATE | EXPAND 2025 A Significant Transition Year Stage 1 Hard Rock – 2.5Mtpa Bomboré Three-Year Production • Construction nearing completion (100% Basis) • Commissioning Q4-2025 220-250koz • Production: >170,000oz/yr 170-185koz Stage 2 Hard Rock – 5.5Mtpa 141koz 119koz 115 -130koz • Detai
Slide 5: Stage 1 Hard Rock Expansion – 2.5Mtpa
BUILD | OPERATE | EXPAND STAGE 1 Hard Rock Expansion – 2.5Mtpa Budgeted CAPEX of $90-95M Existing Oxide Plant On Schedule and Budget Current Progress 5.5Mtpa Jaw Crusher SAG Mill Engineering and procurement complete Jaw crusher installation advanced Ore bin structural steel advanced SAG mill install
Slide 6: Stage 1 Hard Rock Major Mill Components
BUILD | OPERATE | EXPAND STAGE 1 Hard Rock Major Mill Components Jaw Crusher & Dump Pocket Lime Silo & Ore Bin 6
Slide 7: Stage 1 Hard Rock Major Mill Components
BUILD | OPERATE | EXPAND STAGE 1 Hard Rock Major Mill Components 9.0MW SAG Mill Trash Screen & CIL Tanks 7
Slide 8: Stage 1 Hard Rock Expansion
BUILD | OPERATE | EXPAND STAGE 1 Hard Rock Expansion TSF Cell 1 TSF Cell 2 TSF Expansion Hard Rock Mining Fleet 8
Slide 9: Stage 2 Hard Rock Expansion – 5.5Mtpa
BUILD | OPERATE | EXPAND STAGE 2 Hard Rock Expansion – 5.5Mtpa Mill throughput to increase from 2.5Mtpa to 5.5Mtpa Thickener Existing Oxide Plant Rock Breaker Ball Mill Overall Production 220,000 – 250,000oz/yr Additions to hard rock plant 4 additional CIL tanks Pebble Crusher Ball mill & pebble cru
Slide 10: Key to Our Success: Commitment to Local Content
KEY TO OUR SUCCESS Commitment to Local Content Local Workforce 97% Burkinabe First to use an in-country workforce mining contractor • Well established workforce in • Very successful ramp-up and country with 16 mines developed performance since commissioning • Only four expats • Now performing simila
Slide 11: Evolving Exploration Outlook
BUILD | OPERATE | EXPAND EVOLVING EXPLORATION OUTLOOK Prior to 2017: heap leach focus P17 2017 to 2022: hard rock integration • New management team North • 2.4Moz Mineral Reserve1 Zone P16 • Average reserve pit depth <40m • Full ramp-up: 220,000-250,000oz/yr • Only 38 holes deeper than 250m Siga P11
Slide 12: Bomboré Recent Drilling & Discoveries
BOMBORÉ Recent Drilling & Discoveries 1. See Orezone’s news release dated June 10, 2025 for drilling disclosure 12
Slide 13: North Zone FW Long Section Looking Northeast
NORTH ZONE FW LONG SECTION Looking Northeast 13
Slide 14: North Zone Cross Section Looking Northeast
NORTH ZONE CROSS SECTION Looking Northeast B Historic Drilling B’ Northwest BBD1313 BBD1314 Southeast BBD1313 0.75g/t Au / 11.1m BMC0180 0.90g/t Au / 16m BBD0639 1.25g/t Au / 47.5m BBD1313 1.02g/t Au / 57m over 200 meters below reserve pits (US$1,500/oz) BBD1314 1.64g/t Au / 46m Incl. 2.03g/t Au / 2
Slide 15: P17 Long Section Looking West
P17 LONG SECTION Looking West Highlighted intercepts within higher-grade sub-zones 15
Slide 16: Orezone Significantly Undervalued
OREZONE Significantly Undervalued Mid-point 2025 Production Guidance Market Capitalization Stage 2 HR Stage 1 HR 2025 Guidance Source: S&P Capital IQ Pro & Public Disclosure as at close on August 31, 2025 16
Slide 17: 2025 A Transformational Year
BUILD | OPERATE | EXPAND 2025 A Transformational Year Completion of ASX Renewed Focus: Stage 1 Hard Rock Secondary Listing Multi-year Exploration Expansion (began trading Aug. 8) Program Planned • To increase overall production by • Increased trading liquidity and • Current drilling focused on 45% t
Slide 18: Capital Structure & Research Coverage
CAPITAL STRUCTURE & Research Coverage Capital Structure Major Shareholders3 TSX: ORE, ASX: ORE, OTCQX: ORZCF Shares Issued1 597,799,455 17% Nioko Shares Fully Diluted1 625,004,355 Market Capitalization2 C$681M 37% Other 20% Analyst Coverage North America Broker Analyst Argonaut Patrick Streater Cana
Slide 19: Contact
CONTACT Kevin MacKenzie VP, Corporate Development & IR kmackenzie@orezone.com www.orezone.com
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