Orezone Reports Robust Q4-2024 Gold Production of 36,502 Ounces, With the Full Year Exceeding the Mid-Point of 2024 Guidance

Production Performance - Q4 2024 gold production reached 36,502 ounces, a 37% increase quarter-over-quarter [1] - Annual gold production for 2024 totaled 118,746 ounces, exceeding the mid-point of guidance (110,000 to 125,000 ounces) [1][5] - Record quarterly ore processed in Q4 2024 at 1.65 million tonnes, 27% above nameplate design and a 14% increase from Q4 2023 [5] - Gold recovery remained robust at 89.1% in Q4 2024 despite significantly higher throughput rates [5] Financial Performance - Q4 2024 gold sales were 34,833 ounces at an average realized price of US$2,632/oz, generating revenue of US$91.7 million [5] - Full-year 2024 gold sales totaled 118,697 ounces at an average realized price of US$2,384/oz, resulting in revenue of US$282.9 million [5] Operational Highlights - Zero lost-time injuries in 2024, maintaining the company's strong safety record [5] - Annual production guidance achieved for the second consecutive year since the oxide plant was commissioned in 2022 [1] Expansion and Growth Plans - Stage I hard rock plant expansion is well-advanced, with completion and commissioning set for Q4 2025 [2] - The expansion is expected to increase gold production by an additional 50% and is fully financed, on time, and on budget [2] - The hard rock plant has the potential for significantly greater capacity than its 2.5Mt per annum design [2] Exploration and Resource Development - Ongoing multi-year exploration campaign at Bomboré targets a long-term global resource base of 7-10 million gold ounces [3] - Regular updates on hard rock construction milestones and drill results will be provided throughout the year [3]