VANCOUVER, British Columbia, June 10, 2024 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company” or “Orezone”) reports that all resolutions from the Company’s annual general and special meeting of shareholders held on June 7, 2024 (the “Meeting”) were approved with 61.45% of the total issued and outstanding shares of the Company represented at the Meeting.

Following the Meeting, the directors of the Company appointed Mr. Sean Harvey as Chair of the board of directors.

Sean Harvey, Chair stated “On behalf of the Company and the board, I would like to thank all of the shareholders who voted and to welcome Ms. Tara Hassan as Orezone’s newest board member. In addition, we are grateful for Mr. Michael Halvorson for his past leadership and dedication to Orezone during his tenure as Chair and director. Under Mr. Halvorson’s guidance, the Company achieved significant milestones as it advanced Bomboré from an exploration stage project through development and into production. We also want to thank Mr. Charles Oliver who was a long-standing member of the board and made invaluable contributions to the Company.

I am honoured to assume the role of Chair and look forward to working alongside this talented and dedicated team. The Company is focused on deleveraging the balance sheet, building a strong treasury with the upcoming construction of the Stage I Hard Rock Expansion and a continued focus on exploration with a planned multi-year campaign.”

Patrick Downey, President & CEO stated “On behalf of the board and shareholders, I welcome both Sean and Tara into their new appointments. Sean has an extremely well-established track record in West Africa and his experience will have a positive influence as the Company continues to establish a platform for growth.

With respect to the Hard Rock Expansion, we are finalizing the debt proposal received from Coris Bank and expect to enter into a binding term sheet this month. With regards to the multi-year exploration campaign, drilling is anticipated to commence in Q3-2024. The focus of this program will be to add additional high-grade ounces to the project’s mineral inventory, in addition to testing the broader Tier 1 potential of the Bomboré mineralized system. With the current mineral resource down to an average depth of ~200m across 14km of strike, we see significant potential to advance on both fronts.”

Results of Voting

Detailed voting results for the election of directors are as follows:

Additional matters approved at the Meeting are as follows:

• The number of directors was fixed at eight.
• The amendment to increase the number of common shares reserved under the Company’s Restricted Share Unit Plan by 7,500,000 common shares for a total of 15,000,000 common shares was approved.
• The amendment to increase the number of common shares reserved under the Company’s Deferred Share Unit Plan by 2,500,000 common shares for a total of 5,000,000 common shares was approved.
• The Advance Notice By-Law was ratified and approved.
• Deloitte LLP was appointed as auditors for the fiscal year ending December 31, 2024, and the board of directors was authorized to fix their remuneration.

The “Report of Voting Results”, which is available under the Company’s profile on SEDAR+ and on the Company’s website, discloses the detailed voting results for the above resolutions. For additional details, please also see the Management Information Circular of the Company dated May 10, 2024.

About Orezone Gold Corporation

Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a West African gold producer engaged in mining, developing, and exploring its flagship Bomboré Gold Mine in Burkina Faso. The Bomboré mine achieved commercial production on its oxide operations on December 1, 2022, and is now focussed on its staged hard rock expansion that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves. Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets and M&A.  

The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company’s website.

Patrick Downey
President and Chief Executive Officer

Vanessa Pickering
Manager, Investor Relations

Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
[email protected] / www.orezone.com

For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at www.orezone.com.

The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.

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