Orezone Gold Corporation · TSX:ORE
Orezone Gold — Investor Presentation (July 2021)
33 slides from Orezone Gold's investor presentation, Jul 12, 2021
Slide 1: Building Burkina Faso's Next Gold Mine
NS OREZONE Bombore Building Burkina Faso’s Next Gold Mine July 12, 2021 Investor Webinar TSX.V: ORE OTCMKTS: ORZCF
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: About Orezone
About Orezone BOMBORE GOLD PROJECT 90% owned by Orezone First Gold Pour in Q3-2022 10% Burkina Faso Government ®& Fully financed Canadian development company with a proven track record of project construction and operation, financing, capital markets and M&A Largest undeveloped gold deposit in Burki
Slide 4: Alignment of Interests
4 Alignment of Interests * * Orezone’s Core Principles Management and board aligned with shareholders * Acquired “5% of outstanding shares in the market Commitment to local stewardship Protect the Capital Structure & % Focused on NAV/share and share price accretion Staged development to reduce dilut
Slide 5: Investment Highlights
Investment Highlights * Mining friendly jurisdiction ° Management and contractors with = eer 2 proven track records wes = aes ; » Funded to production rT ag ae = 9 . 4 =—s ° Continued exploration success <A - <i St ping oe * Scalable project with significant Sine Oy, E expansion potential = SS 4 oy
Slide 6: Burkina Faso: An Established Gold Mining Jurisdiction
Burkina Faso: An Established Gold Mining Jurisdiction 01 02 03 Supportive mining jurisdiction ® 15 producing gold mines ~ Majority built on/ahead of schedule and on/under budget *& Strong support from local community and Government officials “10Moz gold within 15km of Bomboré * West African Resource
Slide 7: West African Gold Projects Surpass Expectations
West African Gold Projects Surpass Expectations Projects in West Africa have a long history of being built ahead of schedule and under budget Lycopodium projects in West Africa reach design throughput in “30 Days on average and exceed nameplate capacity post commissioning West African Projects Lycop
Slide 8: Bomboré's Advantage is its Simplicity
Bomboré’s Advantage is its Simplicity EARLY WORKS ETN Flat Topography Simple Logistics Rapid Construction Timeline MINING PROCESSING T =, Lu Standard Truck and Shovel Conventional CIL Shallow Pits Low Work Index Low Pit Maintenance Fast Leach Kinetics 2019 Feasibility Study* +13 years Mine Life Aver
Slide 9: Orezone: 2021 To Date
Orezone: 2021 To Date 01 Announced a US$189M finance package to fund Bomboré to production Construction is on-track atBomboré to pour | Announced a US$7.15M Silver Stream to fund exploration 03 Lycopodium selected as EPCM contractor - same team that built Perseus’ Yaouré and WAF’s Sanbrado projects
Slide 10: Bomboré Construction Rapidly Advancing
Bomboré Construction Rapidly Advancing 410 Bomboré — Building Burkina Faso’s Next Gold Mine NS OREZONE
Slide 11: Access Road
Access Road At Process Plant Area
Slide 12: Construction Timeline
Construction Timeline Oxide Construction Timeline Regular Corporate Updates EPCM Site Preparation Earthworks OCR Mining and Development Frequent Construction Tailings Storage Facility Videos Process Plant Construction OCR Fill Commissioning First Gold Pour Q@3-2022 Process Plant Ramp-Up First Gold P
Slide 13: Exploration & Expansion Potential
NS OREZONE Exploration & Expansion Potential
Slide 14: Overview of Exploration Potential
Overview of Exploration Potential The primary objective of previous drilling at Bomboré was to bring the main shear zone to the Proven and Probable category to support a feasibility study and subsequent project financing in a cost-effective manner With the project financing now in place, the company
Slide 15: Near Surface High-Grade Mineralization at P17 Trend
Near Surface High-Grade Mineralization at P17 Trend ®& Drilling returns best hole to-date at P17S NE * 32m of 3.87 g/t gold including 6 m of 14.40 g/t gold ®& Discovery of several, wide multigram gold intercepts near surface and outside of current reserves and resources & Multiple high-grade stacked
Slide 16: Near Surface High-Grade Mineralization at P17 Trend
Near Surface High-Grade Mineralization at P17 Trend alae BBD1044 incl. and incl. BBD1045 BBD1046 BBD1048 incl. and incl. and incl BBD1055 BBD1057 BBD1060 incl. BBD106 incl. 2 |S |n]2 S a a a incl. BBD1065 BBD1066 incl. 10.80 10.80 62.00 62.00 7.00 12.50 15.00 17.00 75.00 76.00 24.00 91.00 39.00 49.0
Slide 17: Staged Development: Oxide Plant and Sulphide Circuit
SS Le ¥ ; _ et SLs — STAGE 1: Oxide Plant ROOM TO EXPAND SULPHIDE CIRCUIT STAGE 2: Sulphide Circuit Oxide plant capacity of 5.2Mtpa * Oxide feed reduced to 3.0Mtpa upon commissioning of the sulphide circuit Sulphide circuit capacity of 2.2Mtpa * Expandable capacity to 4.0Mtpa with the addition of a
Slide 18: Our Community, Our Commitments
NS OREZONE Our Community, Our Commitments
Slide 19: Strong Commitment to Local Stewardship
Strong Commitment to Local Stewardship Project Financing Facility Offering Entrepreneurial First Company Awarded to a Local Bank Retains Opportunities to Surrounding In Burkina Faso to use Capital in Country Communities LNG as Power Supply Prioritizing Local Active Member Contractors for Constructio
Slide 20: Livelihood Restoration Programs
Livelihood Restoration Programs * Market gardens developed - agronomist hired - additional gardens being developed & Specialty cash crops developed - spices, shea butter & Chicken farming, goat breeding and weaving commenced - successful and profitable & Reclamation including tree and shrub plantati
Slide 21: Phase I RAP - Construction Completed
Phase | RAP - Construction Completed | Bomboré — Building Burkina Faso’s Next Gold Mine NS OREZONE
Slide 22: Strong Government Relations
Strong Government Relations ited 2. Burkina Faso’s Minister of Mines visits Bomboré, June 2021 rf President of Burkina Faso — January 2021 | Bomboré - Building Burkina Faso’s Next Gold Mine NSS OREZONE
Slide 23: Value Proposition
NS OREZONE Value Proposition
Slide 24: Bomboré Economics
Bomboré Economics +13 years Mine Life 1.6Moz LOM Gold Production — 133.8ko0z/year first 10 years AISC®) of $672/oz first 10 years Capital Cost Phase | Oxide $153M Phase II Sulphide Expansion $63.2M ® Discounted to the planned start of commercial production BASE CASE $1,300/oz Au After-Tax NPVs¢, Aft
Slide 25: Re-Rate Opportunity
Re-Rate Opportunity Lifecycle of a Junior Mining Company Project execution is key to a re-rate pe Pitnnleae H ae & Lycopodium has built the past 10+ mines in West Africa Lith Lowered Risk H Re-Rating High Potential Value . p £ * Construction team have come straight from Perseus Yaouré and West Afric
Slide 26: Share Price Performance During Construction
Share Price Performance During Construction Share Price Performance of Single Asset Development Companies During Construction 300% West African Resources 275% Commercial Production g 250% June 2020) E 225% 2 200% @ 175% 9 2 150% © 125% Roxgold Declares 5 Commercial Production 8 100% (October 2016) g
Slide 27: Value Proposition
Value Proposition Market Cap/NPV™ 160 1.51 1.40 1.28 1.20 1M 415 0.99 1,00 0.80 0.64 0.60 053 0.57 0.40 0.35, 0.28 0.22 . | | 0.00 Bluestone” Perpetua Integra Rio2 Sabina Orezone Ascot” Pure Gold” Victoria Gold” WAF®! Orla Orezone is Currently Trading at a Discount to its Emerging Developer Peers on
Slide 28: The Orezone Opportunity
NS OREZONE The Orezone Opportunity
Slide 29: Capital Structure & Research Coverage
Capital Structure & Research Coverage Capital Structure (as at March 31, 202 12 Month Share Price and Volume TSX.V: ORE $1.80 2,500,000 Shares Issued 322,930,806 $1.60 $140 2,000,000 Shares Fully Diluted 364,697,756 $120 1,500,000 Warrants (ORE.WT:TSX.V; CAD$0.80) 18,247,450 G16 COE 1,000,000 Option
Slide 30: Upcoming Milestones and Catalysts
30 VY) a > < _ < O Bomboré - Building Burkina Faso’s Next Gold Mine Commenced Pre-Production Mining Commenced Sitewide Earthworks Awarded LOM LNG/Solar Power Contract Additional Exploration Drilling Resource Update Expansion and Optimization Studies Pour First Gold Q3-2022 NS OREZONE
Slide 31: A Clear Path to Value Re-rating
A Clear Path to Value Re-rating Fully Funded Project Construction Experienced Management Team and Contractors Competitive Cost of Capital Strong Management Team with Extensive Construction Experience Established Early Debt Package that Preserves Equity Value Maintain Flexibility for Additional Expan
Slide 32: For more information, please contact
NS OREZONE For more information, please contact: Vanessa Pickering Manager, Investor Relations © info@orezone.com @ 778-945-3974
Slide 33: 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 Au git ooot Au git Au koz ooot Au gi