Orezone Reports Positive Drill Results at Bomboré Demonstrating Growth Potential Ahead of Mineral Resource and Reserve Update in Q1 2027

VANCOUVER, British Columbia, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX: ORE | ASX: ORE | OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to provide additional drill results from its Bomboré Gold Mine. The latest results are from multiple zones across the 14-kilometre-long reserve-defined Bomboré gold system.

Selected Drill Highlights1:

Patrick Downey, President and CEO, commented “These latest exploration drill results continue to demonstrate the growth potential at Bomboré, confirming the continuity of gold mineralization beyond the current Mineral Resources and Mineral Reserves.

Step-out drilling continues to highlight significant exploration upside along strike, demonstrated by follow-up drilling at P16, that confirmed the zone’s 600 metre strike extension and its overall sub-parallel orientation to the P17 high-grade trend. As with P17, the emerging P16 trend hosts notably higher-grade zones within a broader envelope of lower grade mineralization. Ongoing structural studies and future exploration drilling will focus on refining the controls and continuity of these higher-grade zones, which are potentially amenable to underground mining and could significantly enhance the production profile.

In addition to our successful expansion drilling programs, the 2026 resource definition program focused on converting Inferred Resource to the Indicated category, supporting a Mineral Resource and Mineral Reserve update which is expected to be released in the first quarter of 2027. The updated estimate will incorporate the results of approximately 100,000m of additional drilling, in addition to an adjusted cut-off grade reflective of current operating costs and higher gold prices. Given Orezone’s ongoing exploration success in extending mineralization to depth and along strike, we expect that the new estimate will yield a material increase to both Mineral Resources and Mineral Reserves, further extending the overall life-of-mine at Bomboré”.

Exploration Drilling Results

Follow-up drilling at P16 was successful in confirming the P16 strike extension, which has now been traced over 600 metres to the northeast of the established P16 Mineral Resource. This newly emerging trend is subparallel to the established P17 Trend, located approximately 1 kilometre to the southeast. As with the P17 Trend, P16 hosts notably higher-grade zones, with mineralization plunging at 25 degrees to the north-northeast, parallel to the axes of tight folds in quartz veins. Follow-up drilling at P16 will look to both delineate mineralization along the broader trend, as well as to further refine the continuity of the higher-grade zones with increasingly tighter drill spacing.

The P16 strike extension is a significant discovery that has broader implications in terms of future resource growth within the Bomboré gold system. P16 strike extension was not previously recognized as a prospective target because of the approximately eight metres of Tertiary cover that masks the underlying mineralization. This recent finding opens up multiple areas under cover that were not previously advanced due to the absence of surficial geochemical anomalies.

P16 selected intercepts – 600 metres northeast of established P16 resource:

Previously reported – selected high-grade intercepts from P16 area:

Resource Definition Drill Results
For 2026, Orezone has budgeted approximately 65,000m of drilling at Bomboré, with 45,000 metres dedicated to resource definition drilling. The definition program follows more recent 100 metre-spaced step-out drilling, which was successful in extending gold mineralization below several of the current life-of-mine resource pits. Targeted infill drilling is expected to expand the existing resource base, with future pit optimizations potentially extending pit boundaries further down depth and along strike.

Further to the planned 2026 step-out and resource definition drill programs, mineralization at Bomboré remains open at depth and along strike. To date, the broader mineralized system has been traced across a continuous 14-kilometre strike length, with Mineral Reserves to an average depth of less than 40 metres and Mineral Resources to an average depth of approximately 70 metres. Future definition drilling at Bomboré will be focused on delineating higher-grade centers of mineralization, with the potential to be sequenced into the near-term mine plan, supporting further growth in production and operating cash flow.

North Zone selected intercepts:

P17 selected intercepts:

Siga selected intercepts:

P8P9 selected intercepts:

Figure 1 – Bomboré Plan Map Highlighting Selected Intercepts 

Figure 2 – North Zone Long Section

Figure 3 – North Zone Cross Section

Figure 4 – Siga South Cross Section

Figure 5 – P16 Long Section

Table 1 – Drill Results Table

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