Slide 1: Burkina Faso's Newest Gold Mine
_ Burkina Faso’s Newest Gold Mine. = ; a ; Bess elk - D> Wjg = fA qi ” » October 2022 é cee = } Zn ‘ Fi j AI TSX: ORE | OTCQX: ORZCF r j i i I
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: Bomboré — Burkina Faso's Newest Gold Mine
Orezone’ 's Burkina Faso Country Manager, Ousseni Derra and VP, Project Development, Ricardo Rodrigues holding the first gold bar from the Bomboré Mine. | Bomboré — Burkina Faso's Newest Gold Mine
Slide 4: Bomboré Gold Project
BOMBORE GOLD PROJECT 90% owned by Orezone 10% Burkina Faso Government Commercial Production Q4-2022 Orezone highlights and re-rate opportunity Plant operations overview Grade control drilling ~~ P17 exploration update October 2022 Update: First Gold Poured in Q3 TSX: ORE TSX: ORE.WT ‘CQX: ORZCF As a
Slide 5: Re-Rate Opportunity
Re-Rate Opportunity Lifecycle of a Junior Mining Company ¢ Project completed on-schedule and under-budget ' — a rarity in the gold industry Project execution is key to a re-rate DEVELOPMENT MINING EXPLORATION High Risk - High Potential Value Lowered Risk Re-Rating ¢ First gold now poured and ramp-up
Slide 6: Capital Structure & Research Coverage
Capital Structure & Research Coverage 12 Month Share Price and Volume Shares Issued 332,002,102 fmt 600,000 Shares Fully Diluted (assumes Convertible conversion) 401,743,025 500,000 Warrants (ORE.WT:TSX; C$0.80; exp. Jan. 29, 2023) 11,560,750 CONES 300,000 Options (C$0.30 - C$1.60) 22,526,556 | 200,
Slide 7: Orezone: Poised for a Material Re-Rating
Orezone: Poised for a Material Re-Rating Built Bomboré on-schedule and under budget — during a period of rapid inflation and COVID-related disruptions Orezone IS West Significant 2022 drill program to support future expansions — Africa’s newest gol exceptional results from P17 led to an expanded 202
Slide 8: Burkina Faso: An Established Gold Mining Jurisdiction
Burkina Faso: An Established Gold Mining Jurisdiction 01 Supportive mining jurisdiction ® 16 mines brought into production & Majority of mines 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
Slide 9: Oxide Plant Site
NS OREZONE Oxide Plant Site Construction Completed Under Budget and Operations Commenced
Slide 10: Bomboré Oxide Plant
Bomboré Oxide Plant & Bomboré was financed, constructed and commissioned in 20 months — on-schedule and under budget ® No LTI’s during construction & Bomboré is the 16" mine to reach commercial production in Burkina Faso ®& First gold poured September 2022 and commercial production expected in Q4-20
Slide 11: Bomboré Oxide Plant
Bomboré Oxide Plant Bomboré — Burkina Faso’s Newest Gold Mine NS OREZONE
Slide 12: ROM Pad Feed Prep and Ball Mill
ROM Pad Feed Prep and Ball Mill | Bomboré — Burkina Faso’s Newest Gold Mine NS OREZONE
Slide 13: Mill Feed Conveyor
Mill Feed Conveyor | Bomboré — Burkina Faso’s Newest Gold Mine NS OREZONE
Slide 14: Bomboré
14 Bomboré — Burkina Faso’s Newest Gold Mine NS OREZONE
Slide 15: ROM Pad Dump
ROM Pad Dump 5 | Bomboré — Burkina Faso’s Newest Gold Mine Sy OREZONE
Slide 16: 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 operating ¢ OCR filled early in wet season ~~ Mining completed successfully using local contractor ¢ 5.8Mt of ore stockpiled available to feed plan
Slide 17: Tailings Storage Facility
Tailings Storage Facility 7 Bomboré — Burkina Faso’s Newest Gold Mine NS OREZONE
Slide 18: Grade Control Drilling
NS OREZONE Grade Control Drilling
Slide 19: 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 20: ay qe
ay qe > o_o 20s ~ Scale 12.910 Seale: 12,910 ) Ee 27.00 47.00 20.00 4.49 6.00 17.00 11.00 7.48 1.00 20.00 19.00 3.62 19.00 42.00 23.00 2.88 1.00 25.00 24.00 2.21 18.00 28.00 10.00 3.84 44.00 50.00 6.00 6.19 35.00 44.00 9.00 4.07 25.00 31.00 6.00 5.62 27.00 31.00 4.00 22.42 0.00 31.00 31.00 2.30 Figu
Slide 21: A1 and A2 Starter Pits
A1 and A2 Starter Pits | Bomboré — Burkina Faso’s Newest Gold Mine NS OREZONE
Slide 22: Exploration & Expansion Potential
NS OREZONE Exploration & Expansion Potential
Slide 23: Overview of Exploration Potential
LEGEND @ Ox-Tr>= 10 gpt @ Ox-Tr>=S5gpt Overview of Exploration Potential aon 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 are
Slide 24: Significant Expansion Potential: P17 Trend
Significant Expansion Potential: P17 Trend ®& Drilling continues to intersect several wide zones of multigram gold mineralization near surface and outside of current reserves and resources Two of the best intersections returned from new P17S- NE drilling in 2021 and 2022 * 32.00 m of 3.98 g/t gold,
Slide 25: 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
Slide 26: P17S-NE: Section 43125N
P17S-NE: Section 43125N Section 43125N | orezone| Bept081 at Tagen 100 m Ho" 4 SF Sit omc Proutine ‘Overburden 7 Neeptns 2021/2022 Drill Trace ny 2021/2022 Intersection 26 | Bomboré — Burkina Faso’s Newest Gold Mine NS OREZONE
Slide 27: P17S-NE: Section 43250N
P17S-NE: Section 43250N Section 43250N |< onezone BED1103 BBD1104 nd BEDOSE4 ces BBD1106 re / 2019 Mineral Resource Pit outtine ‘Overburden 100 m 2021/2022 Drilt Trace 2021/2022 Intersection Pre.2021 Drill Trace Ir sq Pre-2021 Intersection 27 | Bomboré — Burkina Faso’s Newest Gold Mine NS OREZONE
Slide 28: P17S-NE: Section 43350N
P17S-NE: Section 43350N 28 Section 43350N | s orezone 3.40 g/t Au 8.00 m 445 g/t Au 3.00m BBDOS94 BBDI132 BBDOS83 BBD1133 BED125 100m -—"" 4 / 2019 Mineral Resource | | | Legend Pit Outtine Overburden 2021/2022 Drill Trace 2021/2022 Intersection Pre-2021 Drill Trace Pre-2021 Intersection Bomboré — B
Slide 29: P17S-NE: Section 43400N
P17S-NE: Section 43400N Section 43400N | s& orezone| All intercepts on Section 43400N are outside of the 2019 Mineral Resource Pit Outline 5.58 git Au “360m [~~ soagr au BBD1134 BBD1142 BBDO985 BED1141 4.55 git Au 3.80 m wr & s NG Legend COverburden 2021/2022 Drill Trace 2021/2022 Intersection, Pre-
Slide 30: Main Shear Zone Resource & Reserve Conversion
Main Shear Zone Resource & Reserve Conversion at LEGEND, © Oxtr>=10gpt ~~ Main sulphide zones contain significant inferred resources beneath the >, |S eee ae shallow M&l resource and reserve pits TS tng permit KT" TS expioraton permit a Current reserves are based on US$1,250/oz gold 1st ¢ Current re
Slide 31: Siga South Inferred Resources
Siga South Inferred Resources 4—f ff ‘Au_inferred Au_Total OX_NITON2 1 ose 0.35 0.29 . AMC FS Pit Design Conceptual USD $1,400 Pit Shell 3 00cee+ 3 O0PeCLF 3 00L8eL+ 7 00GB 312 25 +100 Junge rolang Nah 3) E ise 50
Slide 32: Maga Hill Inferred Resources
Maga Hill Inferred Resources Au_Inferred Au_Total Ox_Niton2 ae 1s 2 ox oe. op os a7 vu unknown AMC FS Pit Design Conceptual USD $1,400 Pit Shell ry
Slide 33: Previous Drill Results Outside Reserve Pits
Previous Drill Results Outside Reserve Pits ., To Length BSNS 88¢2329 41.00 46.00 5.00 2.19 MAGA HILL Ela 500246 43.50 63.00 19.50 6.06 [EE 55003803 HE -8800450 208.00 215.00 7.00 323 [ER 8800203 3804555 56.00 63.00 7.00 2” [ERR cepors3 3800241 69.00 73.50 4.50 336 [EE 5500878 384788 63.00 70.00 7.0
Slide 34: Processing Plant Expandability
Processing Plant Expandability bee id ia) J > STAGE 1: ; i, | 7 Oxide Plant Oxide plant capacity of 5.2Mtpa - ROOM TO EXPAND 7 SULPHIDE * Oxide feed reduced to 3.0Mtpa upon CIRCUIT commissioning of the sulphide circuit ® Sulphide circuit capacity of 2.2Mtpa * Expandable capacity to >4.0Mtpa with the
Slide 35: CSR
NS OREZONE CSR
Slide 36: 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 37: Phase I RAP — Building Better Communities
Phase I RAP — Building Better Communities | Bomboré — Burkina Faso’s Newest Gold Mine NS OREZONE
Slide 38: Value-Catalysts
NS OREZONE Value-Catalysts
Slide 39: Near-Term Value Catalysts
Near-Term Value Catalysts Commercial production in Q@4 Ongoing exploration drilling at P17 and other areas throughout 2022 Oxide and sulphide expansion study to be delivered H1-2023 | Bomboré — Burkina Faso’s Newest Gold Mine NS OREZONE
Slide 40: 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 Augit oot Aught ‘Au koz oot Augit Auko