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Orezone Gold Corporation

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Orezone Gold Corporation (TSX: ORE | ASX: ORE | OTCQX: ORZCF) is an emerging intermediate gold producer with operations in Canada and West Africa.

Investor website: https://orezone.com/

About

Orezone Gold Corporation (TSX: ORE | ASX: ORE | OTCQX: ORZCF) is an emerging intermediate gold producer with operations in Canada and West Africa. Its Casa Berardi and Bomboré gold mines host significant mineral endowments, growth opportunities, and exploration upside. The recently acquired Casa Berardi mine in Quebec has produced over 3.2Moz of gold to date, with the Bomboré mine constructed and brought into production by Orezone in late 2022. Orezone is led by an experienced management team committed to safe, sustainable, and responsible mining practices, with a focus on delivering long-term value for all stakeholders.

Verified company data

Cash position
112 M
Shares outstanding
667 M
Fully diluted shares
744 M
Mineral resource
Heva-Hosco Mineral Resource Estimate as of December 31, 2025: Mineral resources at Heva and Hosco are based on a gold cut-off grade of 0.008 oz/ton (0.277 g/tonnes) for open pit and 0.102 oz/ton (3.5 g/tonne) for underground and metallurgical recoveries of 95% for gold at Heva and 81.5% and 87.7% for gold at Hosco depending on zone. Heva and Hosco resources are diluted 20% and reported using a 7% mining loss.
Projects
["## FunFortress\n\nLorem ipsum dolor sit amet, consectetuer adipiscing elit. Maecenas porttitor congue massa. Fusce posuere, magna sed pulvinar ultricies, purus lectus malesuada libero, sit amet commodo magna eros quis urna. Nunc viverra imperdiet enim. Fusce est. Vivamus a tellus. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Proin pharetra nonummy pede.…\n\n[Read more: FunFortress](https://orezone.com/project/funfortress/)","## GiggleGrotto\n\nLorem ipsum dolor sit amet, consectetuer adipiscing elit. Maecenas porttitor congue massa. Fusce posuere, magna sed pulvinar ultricies, purus lectus malesuada libero, sit amet commodo magna eros quis urna. Nunc viverra imperdiet enim. Fusce est. Vivamus a tellus. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Proin pharetra nonummy pede.…\n\n[Read more: GiggleGrotto](https://orezone.com/project/gigglegrotto/)","## PlayfulPlaza\n\nLorem ipsum dolor sit amet, consectetuer adipiscing elit. Maecenas porttitor congue massa. Fusce posuere, magna sed pulvinar ultricies, purus lectus malesuada libero, sit amet commodo magna eros quis urna. Nunc viverra imperdiet enim. Fusce est. Vivamus a tellus. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Proin pharetra nonummy pede.…\n\n[Read more: PlayfulPlaza](https://orezone.com/project/playfulplaza/)","## Casa Berardi, Quebec\n\n| Highlights | |\n| --- | --- |\n| **Location:** | Quebec, Canada |\n| **Ownership:** | 100% |\n| **Method:** | Underground and Open Pit |\n| **Status:** | Operating |\n| **Production:** | FY-25: 91,160oz |\n| **Throughput:** | 1.4Mtpa |\n| **Exploration:** | Camp scale property package covering 37km section of the Casa Berardi Fault. |\n\nOrezone owns a 100% interest in the Casa Berardi gold mine, located in Quebec, Canada. The mine is located 95km north of the town of La Sarre and is accessible via a paved highway and a 38km mine access road.\n\nOperations at Casa Berardi commenced in 1988, with >3.2Moz of gold produced to date. Production from Casa Berardi over the last 5-years has averaged ~105,000oz/yr.\n\nOrezone closed its acquisition of Hecla Quebec, which included the Casa Berardi mine, on March 25, 2026.\n\n### **Mineral Resource Estimate as of December 31, 2025**\n\n### +Notes on Mineral resource Estimate on Casa Berardi\n\n- In-situ mineral resources are classified in accordance with the CIM Standards and the NI 43-101 classification system.\n- Mineral reserves are 100% attributable to Orezone Gold Corporation.\n- Mineral resources are stated inclusive of mineral reserves.\n- Mineral resources outside of mineral reserves have not demonstrated economic viability.\n- Mineral resources were estimated using a gold price of $2,250/oz.\n- Totals may not represent the sum of the parts due to rounding.\n\n### **Mineral Reserve Estimate December 31, 2025**\n\n### +Notes for Mineral Reserve Estimate on Casa Berardi\n\n- Classification of mineral reserves is in accordance with NI 43-101.\n- Mineral reserves are reported as delivered to the processing plant.\n- Mineral reserves are reported in-situ with estimates of mining dilution and mining loss.\n- Mineral reserves are 100% attributable to Orezone Gold Corporation.\n- Mineral reserves were estimated using a gold price of $2,100/oz.\n- Totals may not represent the sum of the parts due to rounding.","## Bomboré, Burkina Faso\n\n| Highlights | |\n| --- | --- |\n| **Location:** | Burkina Faso, West Africa |\n| **Ownership:** | 85% |\n| **Method:** | Open Pit |\n| **Status:** | Operating |\n| **Production:** | FY-25: 110,014oz |\n| **Throughput:** | Oxide Plant – 6.0Mtpa<br>Hard Rock – 2.5Mtpa<br>**Total Capacity – 8.5Mtpa** |\n| **Expansion**: | Stage 2A hard rock (underway)<br>Stage 2B hard rock (+3.0Mtpa HR) |\n| **Exploration:** | 14km long reserve defined system with an average reserve pit depth of <40m |\n\nThe Company owns an 85% interest in the Bomboré gold mine with the government of Burkina Faso retaining a 15% free carried interest. Bomboré is situated 85 km east of the capital city of Ouagadougou and is readily accessed by paved international highway, offering excellent access and simple logistics.\n\nCommercial production was achieved on the oxide and stage 1 hard rock plants in late 2022 and early 2026, respectively.  Combined production from the oxide and stage 1 hard rock operations is forecasted to total between 160,000 and 180,000 ounces in 2026. The Company is also advancing the stage 2 hard rock expansion, which is forecasted to increase annual production to between 220,000 and 250,000 ounces.\n\n### **Bomboré Mineral Resource Estimate as of March 28, 2023**\n\n### +Notes for Mineral Resource Estimate on Bomboré Deposit\n\n- “Oxide” includes Regolith, Oxide and Transitional Upper units reported at a cut-off of 0.25g/t Au.\n- “Hard Rock” includes Transitional Lower and Fresh units reported at a cut-off of 0.45g/t Au.\n- Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues.\n- Mineral resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.\n- The inferred mineral resource in this estimate has a lower level of confidence than that applied to an indicated mineral resource and must not be converted to a mineral reserve. It is reasonably expected that the majority of the inferred mineral resource could be upgraded to an indicated mineral resource with continued exploration.\n- Totals may differ due to rounding.\n- Mineral resources are reported within an optimized pit shell at a gold price of $1,700/troy oz.\n- Mineral resources are inclusive of mineral reserves, however, exclude ore stockpiles.\n- The mineral resource estimates include oxide grade reduction factors applied by Orezone based on recent mine to mill reconciliation data.\n\n### **Bomboré Mineral Reserve Estimate as of March 28, 2023**\n\n### +Notes for Mineral Reserve Estimate on Bomboré Deposit\n\n- CIM Definition Standards for mineral resources and mineral reserves (CIM, 2014) were used for reporting of mineral reserves.\n- Mineral reserves are estimated using a long-term gold price of $1,500 per troy oz for all mining areas.\n- Mineral reserves are stated in terms of delivered tonnes and grade before process recovery.\n- “Oxide” includes Regolith, Oxide, and Upper Transition material. Hard Rock includes Lower Transition and Fresh material.\n- Mineral reserves are based on modified re-blocked mine models with variable internal dilution and mining recoveries.\n- Mineral reserves for Block 1 (Maga), Block 2 (CFU and P8P9), Block 3 (P11), and Block 4 (Siga) are based on marginal cut-off grades that range from 0.252 to 0.270g/t Au for Oxides, and 0.464 to 0.516g/t Au for Hard Rock.\n- Mineral reserves for mining blocks Block 5 (P16) and Block 6 (P17S) are based on polygons developed by Orezone delimiting oxide material averaging above 0.30g/t Au and fresh rock above 0.50g/t Au.\n- The mineral reserve estimates include oxide grade reduction factors applied by Orezone based on recent mine to mill reconciliation data.\n- Tonnage and grade measurements are in metric units. Contained Au is reported as troy ounces.\n- Processing recovery varies by weathering unit and location.\n- Mineral resources, which are not mineral reserves, do not have demonstrated economic viability.\n- Mineral reserves are reported effective March 28, 2023.\n- Rounding of some figures might lead to minor discrepancies in totals."]
Leadership
Patrick Downey (President, CEO and Director, Over 40 years of international experience in the resource industry. Previously held senior positions at Elgin Mining Inc., Aura Minerals Inc., and Viceroy Exploration Ltd.), Peter Tam (EVP & Chief Financial Officer, Seasoned financial executive with over 25 years of experience in senior-level finance positions in mining.), Marc-Andre Pelletier (Chief Operating Officer, Professional mining engineer with over 30 years of experience in open pit and underground gold mines.), Ryan Goodman (SVP & General Counsel, Corporate lawyer with extensive experience in mining companies, specializing in financings, M&A, and corporate governance.), Kevin MacKenzie (SVP Corporate Development, Over 18 years of capital markets and industry experience, previously Managing Director at Canaccord Genuity.), Jean-François Ravenelle (VP Exploration, Over 20 years of experience in structural geology and exploration, previously Vice President Geology at New Gold.), Dale Tweed (VP Engineering, Professional engineer with over 30 years of experience in project development.), Rob Henderson (VP Technical Services, Global mining industry leader with 35 years of experience in operating and acquiring mineral properties.), Gareth Withers (VP Finance, Finance professional with over 20 years of experience in mining companies.), Amanda Mallough (VP Investor Relations, Over a decade of investor relations and corporate communications experience in the mining sector.), Sophie Bertrand (VP, Sustainability, Nearly 20 years of international mining experience in sustainability and responsible mining.)

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