The Company owns a 90% interest in the Bomboré Gold Mine with the government of Burkina Faso retaining a 10% carried interest. Bomboré is situated 85 km east of the capital city of Ouagadougou and is readily accessed by paved international highway thereby offering excellent infrastructure and simple logistics.

Bomboré was constructed on-time and under budget and achieved commercial production of its Phase I oxide plant on December 1, 2022, which has successfully operated above its planned nameplate at a processing rate of 5.9Mtpa. Orezone is currently constructing an independent, parallel 2.5Mtpa hard rock plant which will increase production to >170,000oz gold/year, commencing in Q4-2025. A secondary hard rock expansion, adding another 2.5Mtpa processing capacity and increasing gold production to 220,000 – 250,000oz/year, is targeting completion in late 2026.

Project Highlights

• 14km long reserve defined trend
• Average reserve pit depth of <40m
• 85km from capital of Ouagadougou
• Connected to grid power

2023 Feasibility Study Highlights*

(at Base Case gold price of $1,750/oz. All reported figures are in US dollars and are on a 100% project basis unless otherwise stated)

• After-tax NPV_5% of $635.9M with rapid payback
• Mine-life of 11.3 years with gold production totalling 2.11Moz
• Conventional open pit mining at a low strip ratio of less than 2:1
• Phase II hard rock plant capital costs of $167.5M
• Average annual gold production of 231,000oz in the first three full years after expansion at an AISC^** of $1,081/oz

*The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company’s website.
**AISC includes operating costs, royalties, sustaining capital, and closure costs (net of salvage values) but excludes the costs of the Phase II hard rock plant expansion, growth capital, and corporate G&A.