Orezone Announces Grant of Restricted Share Units

VANCOUVER, British Columbia, Dec. 10, 2020 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX.V: ORE OTCQX: ORZCF) announces that pursuant to its Restricted Share Unit (“RSU”) plan, the Company has granted 1,207,000 RSUs to certain officers and employees of the Company. Each RSU is exercisable into one common share of the Company upon vesting. The RSUs will vest in two equal installments on the first and second anniversaries from the date of grant.

Orezone Gold Corporation

Orezone Gold Corporation (TSX.V: ORE OTCQX: ORZCF) is a Canadian development company which owns a 90% interest in Bomboré, one of the largest undeveloped gold deposits in Burkina Faso.

The 2019 feasibility study highlights Bomboré as an attractive shovel-ready gold project with forecasted annual gold production of 118,000 ounces over a 13+ year mine life at an All-In Sustaining Cost of US$730/ounce with an after-tax payback period of 2.5 years at an assumed gold price of US$1,300/ounce.  Bomboré is underpinned by a mineral resource base in excess of 5 million ounces of gold and possesses significant expansion potential.

Patrick Downey,
President and Chief Executive Officer

Vanessa Pickering
Manager, Investor Relations

Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
info@orezone.com /www.orezone.com

For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at www.orezone.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.