Slide 1: Developing Bomboré into a World-class Gold Deposit
Developing Bomboré into a World-class Gold Deposit October, 2011
Slide 2: Forward Looking Statements
Forward Looking Statements This Presentation may contain “forward-looking information” which may include, but is not limited to, statements with respect to: political conditions and government regulations in foreign countries; timing of the receipt of governmental approvals and/or acceptances; targe
Slide 3: Background
Background Orezone Resources Orezone Gold 1995 - 2009 2009 (ORE.T ) Essakane Same team 1.5 5.3 Moz + 3 gold projects Progress Permits Bomboré Debt Facility 0.9 3.5 Moz +5 ? Start Construction Market Cap Buys Orezone (OZN.T) Jan. 2009 $20 M $350 M Oct. 2011 $300 M 3
Slide 4: Highlights
Highlights Bomboré - World-class potential and location • 3.5 Moz (1.6 M&I + 1.9 Inferred) • 35,000 oz gold per vertical meter • 60 m avg. drill depth to date & open below • 170,000 m drill program to get to 120 m (70% complete) • 85 km from capital of Burkina Faso, adjacent to highway Solid financi
Slide 5: Summary: Gold Resources
Summary: Gold Resources Category Tonnes Grade Gold Content (millions) (Au g/t) (ounces) Bomboré Measured & Indicated 60.9 0.81 1,589,000 Inferred 60.6 0.96 1,873,000 Sega Measured & Indicated 8.3 1.69 450,400 Inferred 2.9 1.58 147,300 Bondi Measured & Indicated 4.1 2.12 282,000 Inferred 2.5 1.84 149
Slide 6: Corporate Structure
Corporate Structure Capital Structure ORE.TSX Shareholders Shares Issued 83.7 M 5% Management Shares Fully Diluted 89.5 M + 50% Institutional Cash $40 M Passport Capital AGF Debt None JP Morgan IG Market Cap $300 M Van Eck & ETF UBS Average Daily Volume 250,000 Beutel Goodman BMO Share Price $3.50 T
Slide 7: Experienced Team
Experienced Team Senior Management Years Experience Ron Little P.Eng Founder, CEO & President 25 Pascal Marquis PhD, P.Geo SVP Exploration 25 Sean Homuth CA CFO 10 George McTaggart MBA VP Corporate Development 25 Joe McCoy MBA VP Administration 25 Board of Directors Ron Little Founder, CEO also Orez
Slide 8: Burkina Faso
Burkina Faso 6th Best region worldwide for exploration (Fraser Institute, 2011) 6 New gold mines since 2007 4th Largest African gold producer by 2012 2004 Modernized mining code 16 Million people 1987 Stable democracy Re-elected Capital: Ouagadougou + 1 Moz / yr Cotton Producer 8
Slide 9: Location
Location Gold Mine Niger Gold Deposit Avocet Iamgold Gold Deposit (Orezone) Inata 2.8 Moz Essakane 5.9 Moz 0 100 200 km High River Taparko 1.7 Moz Semafo Sega 0.6 Moz Samira Hill 2.5 Moz Cluff Kalsaka 0.6 Moz Ouagadougou Bombore 3.5 Moz Semafo Mana 6.0 Moz Volta Kiaka 4.3 Moz Mali Endeavour Youga 0.
Slide 10: Bomboré Overview
Bomboré Overview 11 km 168 km² 10
Slide 11: Bomboré Pit Shell Cross-Section
Bomboré Pit Shell Cross-Section W E Looking North Oxide Pit 100 m Oxide Fresh CIL Pit Drilling at Depth 11
Slide 12: 2011 Drill Results
2011 Drill Results Gold mineralization continues at depth CIL Pit (2010) 200 m 50 m Au Grades >0.5 g/t >0.2 g/t 12
Slide 13: Improved Continuity – Siga South
Improved Continuity – Siga South October, 2010 August, 2011 Whittle Pit Shell will expand, based on 2011 drilling + 20,000 m drilling CIL Whittle Pit Shell CIL Whittle Pit Shell 2010 Resource Update 2010 Resource Update Higher grade envelopes Higher grade N >0.5 g/t N envelopes will significantly ex
Slide 14: 2011 Resource Growth Plan
2011 Resource Growth Plan $24 M, 170,000 m infill and expansion drill program Total Drilled Avg. Depth RC Drilling Core Drilling m m m m < 2010 120,000 60 105,000 15,000 2011 170,000 120 85,000 85,000 Total 290,000 120 190,000 100,000 11Results km to date Compared to 2010 resource model 11km (70% co
Slide 15: Comparable gold deposits?
Comparable gold deposits? Kinross Tasiast Orezone Bomboré Mauritania Burkina Faso 7.5 km 2010 pit shells 11 km 2010 CIL pit shells 300 m Depth of drilling 60 m Average drilling depth to date 32,000 oz Gold per vertical meter 35,000 oz Gold per vertical meter 9.7 Moz @ 1.3 g/t 3.5 Moz @ 0.9 g/t Time
Slide 16: CIL - Preliminary Economics ($US)
CIL - Preliminary Economics ($US) Mineral Resource in mine plan 2,506,608 oz Key Parameters Average Grade 0.94 g/t $1000/oz gold pit shell, $1100 revenue 2010 1.6 Moz M&I and 1.9 Moz Inf Maximum Throughput 9.3 Mt 120,000 m of drilling Average Recovery 87% Average drill depth 60m Mine Life 9.
Slide 17: CIL - Operating Costs
CIL - Operating Costs Total Cost Avg. Cost Avg. Cost Category $ Millions $ / t milled $ / oz Mining $633.7 $7.64 $290 Processing $648.0 $7.81 $297 General Services $229.0 $2.76 $105 Transport & Refining $5.5 $0.07 $3 Total Cost $1,516.2 $18.27 $694 Royalty to Gov’t $96.1 $1.16 $44 Cost with Royalty
Slide 18: Bomboré Schedule
Bomboré Schedule 2011 2012 2013 2014 2015 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 Drilling: Infill & Expansion ● ● ● ● ● Prelim Economic Study ● Resource Update ● Full Feasibility Study ● Permitting ● ● Construction ● ● ● ● ● ● ● Production ● ● ● ● Our Goal: + 250,000 oz / yr 18
Slide 19: Sega Gold Project
Sega Gold Project Near-surface, heap leachable gold deposit 18 km from Kalsaka mine (Cluff) • 313 km² project area • 455,000 oz Indicated • 147,000 oz Inferred • Grade 1.7 g/t • 7 pittable deposits • Heap leach potential • 10,000 m drilling – Q4 • Scoping study – ongoing 19
Slide 20: Bondi Gold Project
Bondi Gold Project Near-surface, heap leachable, with potential at depth • 4 km trend, open along strike • 282,000 oz Indicated • 150,000 oz Inferred • Average Grade 2.0 g/t • Higher Grades up to 20g/t Zone Z2 Drill Hole Highlights Results over 4g/t Hole # from to m g/t Section BRC130 8.0 16.0 8.0 4
Slide 21: Uranium – Niger – 67% owner
Uranium – Niger – 67% owner New discovery adjacent to producing mines Niger: 3rd largest uranium producing region worldwide by 2014 • Brighton Energy Corp. • 5 permits: 4,000km² • Adjacent to operating mines (Areva) • Adjacent to GoviEx (Friedland) • Along main structures with favourable geology • A
Slide 22: Corporate Social Responsibility
Corporate Social Responsibility Water for Communities • Support communities by establishing water and sanitation services • Over $650,000 raised and spent to date for water projects / Ryan’s Well Foundation a partner Education and Training • $190,000 invested to date • Collaborative research with Un
Slide 23: Analyst Coverage
Analyst Coverage Target Institution Analyst Update (CDN) Cosmos Chiu Jul-2011 $7.50 Nicholas Campbell Sep-2011 $7.00 Andrew Mikitchook Sep-2011 $6.25 Brian Christie Sep-2011 $6.25 Brad Humphrey Aug-2011 $6.00 Paolo Lostritto Sep-2011 $5.20 Andrew Breichmanas Aug-2011 $5.00 23
Slide 24: Orezone Gold Corporation
Orezone Gold Corporation 290 Picton Avenue, Suite 201 Ottawa, Ontario, Canada www.orezone.com info@orezone.com Toll Free: 1-888-673-0663 Tel: 1-613-241-3699