Orezone Reports First Quarter 2026 Gold Production

• Orezone Gold Corporation reported Q1 2026 consolidated gold production of 38,789 oz, a significant increase from 28,688 oz in Q1 2025.
• Consolidated gold sold was 37,962 oz at an average realized price of $4,887/oz.
• The Bomboré Stage 1 hard rock expansion achieved commercial production on January 16, 2026, with throughput exceeding nameplate design by 10% during the quarter.
• Casa Berardi mine operations contributed 1,226 oz of gold produced in Q1 post-acquisition (closed March 25, 2026).
• Mining sequence at Bomboré was impacted by intermittent emulsion deliveries, but a second supplier has been secured to stabilize production.
• 2026 Production Guidance for Bomboré remains 160,000 to 180,000 ounces with AISC of $2,100-$2,300/oz.
• Stage 2A expansion at Bomboré (rock breaker, thickener, oxygen plant) is expected to be completed in late Q3 2026.

• The news confirms the successful integration of the Casa Berardi acquisition and the operational ramp-up of the Bomboré hard rock expansion as previously guided in March 2026.
• Production figures exceed prior year levels significantly, validating the multi-asset producer thesis established by the Hecla Quebec transaction.
• Operational hiccups regarding emulsion delivery are noted but mitigated with a new supplier, preventing material disruption to the production profile.
• As this is a quarterly operational update following the major acquisition announcement in March 2026, the information is largely expected and priced into the stock.
• The news does not introduce new transformative assets or financing structures that would alter the fundamental valuation thesis beyond what was already disclosed.

• Orezone Gold Corporation operates the Bomboré gold mine in Burkina Faso and recently acquired the Casa Berardi gold mine in Quebec, Canada.
• Flagship Project: Bomboré Mine includes oxide processing and a new Stage 1 hard rock expansion (2.5Mtpa) achieving commercial production in early 2026.
• Secondary Asset: Casa Berardi Mine adds Tier 1 jurisdiction diversification with ~1.2 Moz Proven & Probable reserves.
• Exploration targets include expanding the Bomboré resource from ~5 Moz to a long-term target of 7-10 Moz.
• Stage 2 hard rock expansion at Bomboré is planned to increase annual production capacity to 220,000-250,000 oz annually post-completion.