Orezone Gold Corporation · TSX:ORE
Orezone Gold — Metals Investor Forum January 2021
22 slides from Orezone Gold's conference presentation, January 2021
Slide 1: Developing Burkina Faso's Next Gold Mine
NS OREZONE Bombore Developing Burkina Faso’s Next Gold Mine January 2021 Metals Investor Forum TSX.V: ORE OTCMKTS: ORZCF
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains certain “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of applicable United States securities laws. Forwarclooking information and forward-looking statem
Slide 3: Investment Highlights
Bomboré — Developing Burkina Faso’s Next Gold Mine Investment Highlights Permitted and shovel-ready project * Lycopodium selected as EPCM contractor * Phase | Resettlement Action Plan (“RAP”) relocation complete * Construction scheduled to commence in February 2021 * Project financing debt package t
Slide 4: Capital Structure & Research Coverage
Capital Structure & Research Coverage Capital Structure (as at January 12, 2021 Shares Issued 252,653,306 Shares Fully Diluted 290,076,256 Warrants (ORE.WT:TSX.V; CAD$0.80) 18,247,450 Options (CAD$0.30 - $0.81) 19,175,500 Cash (no debt)(unaudited)(as at September 30, 2020) USD$12.2M Market Cap (as a
Slide 5: Burkina Faso: An Established Gold Country
Burkina Faso: An Established Gold Country 01 02 03 Supportive mining jurisdiction ~~ 15 gold mines have reached production *& Majority of mines built on/ahead of schedule and on/under budget History of smooth and rapid start-up of operations “10Moz gold within 15km of Bomboré * West African Resource
Slide 6: 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 7: 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 7 | Bomboré - D
Slide 8: 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 9: Value Proposition
Value Proposition Emerging Developers Enterprise Value Trading Multiples“ 900 8 $834 $800 $792 " 8 Q $700 2 3 $600 5 Progression towards produ $518 © $500 a § $400 ¢ $366 2 324 $317 A $285 $287 8 $300 $251 E $200 $180 $186 ga7 a $92 g73 $104 $107 g6 $120 $108 . $42 $38 sf Mies Integra Rio2 | Orezone
Slide 10: 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 Gold 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
Slide 11: Share Price Performance During Construction
Share Price Performance During Construction Share Price Performance of Single Asset Development Companies During Construction 250% West African Resources Announce: Gold Atlantic Gold Declares Commercial Production (March 2018) ag 3 a 2 Roxgold Declares Commercial Production (October 2016) 3 Pretium
Slide 12: Plant Design: Room to Expand
SS Le ¥ ; _ et SLs — STAGE 1: Oxide Plant ROOM TO EXPAND SULPHIDE CIRCUIT STAGE 2: Sulphide Circuit Oxide plant capacity of 5.2Mtpa * Oxide feed reduced to 3.0Mtpa upon commissioning of the sulphide circuit Sulphide circuit capacity of 2.2Mtpa * Expandable capacity to 4.0Mtpa with the addition of a
Slide 13: Leverage to Gold Price
Leverage to Gold Price Current Mineral Reserves of Siga South Deposit — One of the only pits drilled to depth 1.8M Au oz are based on an average gold price of “$1,185/o0z ~~ M&l Resources of 5.1M Au oz are calculated using $1,400/oz ® Significant MI&l tonnes of higher grade sulphides below existing
Slide 14: Exploration Upside — High-Grade Zones
LEGEND Exploration Upside — High-Grade Zones ® Historical drilling identified several high-grade intercepts ~ The discovery of the high-grade P17S zone prompted a reassessment of the continuity of these higher-grade hits ¢ Higher-grade plunging folds at 22 degrees vs 55 degrees dip ¢ Drilling betwee
Slide 15: Exploration Upside — High-Grade Plunging W Folds
Exploration Upside — High-Grade Plunging W Folds (@ ovcoucens051 © ceviouden 1090.0 @ overoursens-1o opt Ay Weetutzan 2008 A. Wesieredzone 105093] [BB sercezone-3055 HE svorzono 02a D suncezones0a5 A. wesmereazonesoa I CFU BBDO921: 175.4 g/t ) re Au 75576 BBCO768: 118.3 g/t 4 Au(89-90 m) Au (48-49.5
Slide 16: Livelihood Restoration Programs
Livelihood Restoration Programs * Market gardens developed - agronomist hired - additional gardens being developed & Specialty cash crops being developed - spices, shea butter & Chicken farming commenced - self funding and very successful to date & Reclamation including tree and shrub plantations de
Slide 17: Phase I RAP - Construction Completed
Phase | RAP - Construction Completed Completed Village | Bomboré - Developing Burkina Faso’s Next Gold Mine NS OREZONE
Slide 18: Phase I RAP - Construction Completed
Phase | RAP - Construction Completed Water Well New School | Bomboré - Developing Burkina Faso’s Next Gold Mine NS OREZONE
Slide 19: The Orezone Opportunity
SS OREZONE The Orezone Opportunity
Slide 20: 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 21: Upcoming Milestones: Project Financing to First Gold
st 1 Project Financing - 2 Award Mining Contract WY) 3 Commence Construction 7; 4 Pour First Gold Q@3-2022 > 5 Bomboré is Burkina Faso’s Next Gold Mine 21 | Bomboré - Developing Burkina Faso’s Next Gold Mine NS OREZONE
Slide 22: For more information, please contact
NS OREZONE For more information, please contact: Vanessa Pickering Manager, Investor Relations © [email protected] @ 778-945-3974