Orezone Gold Corporation · TSX:ORE
Orezone Gold — Corporate Update (January 2021)
17 slides from Orezone Gold's corporate update, Jan 28, 2021
Slide 1: Bomboré: Fully Funded to Production
NS OREZONE Bombore Fully Funded to Production January 28, 2021 Project Financing Presentation 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 laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (together, “forward-looking sta
Slide 3: Transactions Highlights
Transactions Highlights ~~ Bomboré development fully funded to commercial production ¢ Senior Debt Facility of “US$96M — Coris Bank International * Convertible Note Facility of “US$35M — Resource Capital Fund VII L.P. and Beedie Investments Ltd. * Closed Equity Offering of ‘US$58M priced at C$1.05/s
Slide 4: About the Lenders
About the Lenders Coris Bank International (“Coris”) * Coris Bank is one of the largest and fastest growing banks in West Africa * Balance sheet in excess of US$2.8 billion » Resource Capital Fund VII L.P. (“RCF”) ¢ RCF Vil is part of Resource Capital Funds, a global mining private equity firm * Gro
Slide 5: Senior Debt Facility - ~US$96M
Senior Debt Facility -“US$96M Lender: Coris Bank International Borrower: Orezone Bomboré SA » Denomination: West African Communauté Financiére Africaine francs (“XOF’) Structure: Split into a Medium-term Loan and a Short-term Loan * The Medium-term Loan to fund construction costs, the Short-term Loa
Slide 6: Senior Debt Facility - ~US$96M
Senior Debt Facility -“US$96M ~ Medium-term Loan of “US$64 million (KOF 35.0 billion) ¢ Term: 5 years ¢ Interest rate: 9.0% per annum ¢ First drawdown by December 31, 2021 ¢ Deferral of principal repayments for the first 24 months ¢ Early repayment permitted with prepayment penalty ranging from 2% t
Slide 7: Convertible Note Facility - ~US$35M
Convertible Note Facility -“US$35M Convertible Note Lenders: RCF, Beedie Borrower: Orezone Gold Corporation ~ Denomination: US dollars & Key Terms: * Term: 5 year ¢ Interest rate: 8.5% per annum — payable up to 75% in common shares at the option of the Company * Convertible at a 30% premium to the E
Slide 8: Equity Offering - ~US$58M
Equity Offering - “~US$58M “US$58M Co-led by Canaccord Genuity Corp. and CIBC Capital Markets ¢ Issued 61,950,000 shares at a price of C$1.05 for gross proceeds of C$65,047,500 ¢ Underwriters purchased an additional 8,292,500 Shares at a price of C$1.05 per Underwriter Option Shares for additional g
Slide 9: Bomboré Economics
Bomboré Economics $1,300/oz Au uw AISC USD$/oz oe After-Tax NPVs, After-Tax IRR re $361M1014 $1,234 w |. ae a $99.5M free cash flo Year 1 $991 2.5-year after-tax payback $730 $756 After-Tax IRR $142.5M free cash flow in Year 1 0.9-year after-tax payback +13 years Mine Life Orezone West Africa Americ
Slide 10: Phase I RAP - Construction Completed
Phase | RAP - Construction Completed Completed Village | Bomboré - Developing Burkina Faso’s Next Gold Mine NS OREZONE
Slide 11: Bomboré's Advantage is its Simplicity
Bomboré’s Advantage is its Simplicity Open Pit — Carbon in Leach EARLY WORKS Flat Topography Simple Established Logistics Rapid Construction Timeline MINING rom Standard Truck and Shovel Shallow Pits Low Pit Maintenance PROCESSING 7 Conventional CIL Low Work Index Fast Leach Kinetics 11 | Bomboré -
Slide 12: West African Gold Projects Surpass Expectations
West African Gold Projects Surpass Expectations Projects in West Africa get built on or ahead of schedule and on or below budget Projects in West Africa Reach Design Throughput In “30 Days Company Saline Process Plant Ramp Up Curves Houndé Endeavour Burkina Faso Ahead Under Ity CIL Endeavour Céte d'
Slide 13: Value Proposition
Value Proposition 3.00 2.50 2.00 1.50 1.00 0.50 0.00 "Based on compan NPV estimates using $1,500/0z and market oat 0.47 0.49 = || LJ L| Midas Orezone Integra Bluestone Market Cap/NPV™ Pure Gold” Orla 0.59 Rio2 Victoria Gold” Ascot © Sabina war?) Orezone is Currently Trading at a Discount to its Emer
Slide 14: 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 9 250% June 2020) E 225% 2 200% & 175% g S 150% % 125% Roxgold Declares g Commercial Production 8 100% (October 2016) g
Slide 15: Next Steps
Next Steps With Bomboré’s construction fully funded, All construction activities will ramp up rapidly and first gold pour is scheduled for Q3-2022 ~~ Order long lead critical path items ¢ Ball mill- March 2021 ~~ Award the mining contract and commence excavation (mining) of the water storage facilit
Slide 16: Why Orezone, Why Now?
Why Orezone, Why Now? Scarcity of Permitted Shovel-Ready Gold Projects Attractive Entry Point Orezone — Bomboré Bluestone — Cerro Blanco Sabina — Back River Orla — Camino Rojo West African Projects Built Ahead of Schedule & Under Budget Houndé Bissa Ity CIL Akyem Yaramoko Fekola Wabhgnion Mako Sissi
Slide 17: For more information, please contact
NS OREZONE For more information, please contact: Vanessa Pickering Manager, Investor Relations © info@orezone.com @ 778-945-3974