Orezone Gold Corporation · TSX:ORE
Orezone Gold — Investor Presentation (March 2025)
21 slides from Orezone Gold's investor presentation, March 2025
Slide 1: Build. Operate. Expand.
TSX ORE OTCQX ORZCF BUILD. OPERATE. EXPAND. Corporate Presentation | March 2025 BOMBORÉ GOLD MINE BURKINA FASO
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain “forward-looking information” within the meaning of applicable Canadian recommendations are not intended as investment advice and should not be relied upon by investors to make securities laws. Forward-looking information and forward-looking statements (
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 I Commercial Production >170,000 oz/yr Drilling Multi-year Expansion Production Guidance Achieved Underway Drill
Slide 4: 3 Year Production Forecast & Ramp-Up
BUILD | OPERATE | EXPAND 3 YEAR PRODUCTION FORECAST & RAMP-UP FY-2024 Guidance Bomboré Three-Year Production • Gold Production: 110,000 - 125,000oz (100% Basis) 220 - • AISC: $1,400 - $1,475/oz 250koz 170 - Stage I Hard Rock – 2.5Mtpa 185koz • Construction underway 141koz 115 - 119koz 130koz • Commi
Slide 5: Stage I Hard Rock Expansion – 2.5Mtpa
BUILD | OPERATE | EXPAND STAGE I Hard Rock Expansion – 2.5Mtpa Estimated Capex of $85M • Fully financed Existing Expansion ahead of schedule Oxide Plant 5.0Mtpa • Concrete 3-months ahead of Jaw Crusher SAG Mill schedule • Engineering ahead of schedule, bulk quantities in line with budget Ore Bin • A
Slide 6: Stage I Hard Rock Expansion – 2.5Mtpa
BUILD | OPERATE | EXPAND STAGE I Hard Rock Expansion – 2.5Mtpa 1 2 3 4 5 1. Hard rock expansion area with oxide plant and shared infrastructure 2. Dump pocket & crusher foundation 3. CIL ring beams 4. SAG mill foundation 5. First delivery of hard rock mining fleet onsite 6
Slide 7: Stage II Hard Rock Expansion – 5.0Mtpa
BUILD | OPERATE | EXPAND STAGE II Hard Rock Expansion – 5.0Mtpa Mill throughput increased from 2.5Mtpa to 5.0Mtpa Thickener Water Tank Production 220,000 - 250,000oz/yr Ball Mill Pebble Crusher Additions to hard rock plant 4 CIL • 4 additional CIL tanks Tanks • Ball mill & pebble crusher • Thickener
Slide 8: 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 9: 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 Zone • 2.4Moz Mineral Reserve1 P16 • Average reserve pit depth <40m • Full ramp-up: 220,000-250,000oz/yr Siga • Only 38 holes deeper than 250m P11
Slide 10: North Zone Long Section Looking Southwest
NORTH ZONE LONG SECTION Looking Southwest Highlighted intercepts below current resource & reserve pits 10
Slide 11: P17 Long Section Looking North-northwest
P17 LONG SECTION Looking North-northwest Highlighted intercepts within higher-grade sub-zones 11
Slide 12: Current Position
NS OREZONE Current Position
Slide 13: Orezone Significantly Undervalued
OREZONE Significantly Undervalued 2024 Production Market Capitalization Stage I Hard Rock Expansion Source: S&P Capital IQ Pro & Public Disclosure as at close on January 31, 2025 13
Slide 14: Financial Position
FINANCIAL POSITION Financial position 1 Outlook $66.9M cash Expected $80M in senior debt outstanding upon completion of Stage I hard rock plant $68.1M senior debt with Coris Bank in late 2025 • 9 - 10% interest rate Debt free by Q3-2027 – with senior debt and convert fully repaid $35M convert with R
Slide 15: Capital Structure & Research Coverage
CAPITAL STRUCTURE & Research Coverage TSX: ORE, OTCQX: ORZCF Major Shareholders3 Shares Issued1 466,109,856 Shares Fully Diluted2 549,316,749 Market Capitalization1 C$340M 20% Nioko 47% 16% Retail & Other Analyst Target Price and Recommendations RCF Broker Date Recommendation Target Price Canaccord
Slide 16: Appendix
NS OREZONE Appendix
Slide 17: Burkina Faso: An Established Gold Mining Jurisdiction
BURKINA FASO An Established Gold Mining Jurisdiction Ideal Location 90-minute drive from the capital city Ease of logistics and security Skilled local labour force > 18Moz Gold within 50km* West African Resources: Sanbrado, Toega and Kiaka New high-grade gold discoveries Supportive Mining Jurisdicti
Slide 18: Bomboré Site Layout
BOMBORE Site Layout Exploration Permit 2023 FS Reserve Pits Process Plant P13 XY
Slide 19: Management & Directors
MANAGEMENT & DIRECTORS Significant Hands-on Experience MANAGEMENT BOARD PATRICK DOWNEY ROB HENDERSON PATRICK G. DOWNEY TARA HASSAN President, CEO and Director VP, Technical Services President, CEO and Director Director Former President, Chief Executive Officer and Director VP, Corporate Development
Slide 20: Resource and Reserve Estimates
RESOURCE AND RESERVE ESTIMATES Bomboré Gold Project Resource Estimate as of March 28, 20231 Measured Indicated Measured and Indicated Inferred Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Mt Au g/t Au koz Mt Au g/t Au koz Mt Au g/t Au koz Mt Au g/t Au koz Oxide 16.
Slide 21: Contact
CONTACT Vanessa Pickering 604-202-2940 vpickering@orezone.com www.orezone.com