Orezone Announces Update on the Sale of the Bondi Gold Project to Sarama

OTTAWA, July19, 2017(GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX-V:ORE) is pleased to advise that the Ministry of Mines and Quarries in Burkina Faso, West Africa has issued and Sarama has paid the invoice for the transfer of the Bondi Gold Project (Djarkadougou exploration permit) from Orezone's subsidiary company to Sarama Resources subsidiary company. This is the last step of the approval process before the official transfer that will be effective when the Ministry of Mines will deliver the new Djarkadougou Order ("Arr??t?(C)") in Sarama's name, at which point Sarama Resources shares and warrants issued to Orezone as part of the transaction will be released from escrow. The issuance of the Arr??t?(C) is a matter of process which should happen through the course of Q3 2017.

About Orezone Gold Corporation

Orezone is a Canadian company with a successful gold discovery track record and recent mine development experience in Burkina Faso, West Africa. The Company owns a 90% interest in Bombor?(C), a fully permitted, undeveloped oxide gold deposit in West Africa, which is situated 85 km east of the capital city, adjacent to an international highway.

For further information please contact Orezone at (613) 241?EUR'3699 or visit the Company's website at www.orezone.com.

Patrick Downey, CEO and Pascal Marquis, SVP of Orezone, are Qualified Persons under National Instrument 43-101 and have reviewed the information in this release.Readers should refer to the annual information form of Orezone for the year ended December 31, 2016 and other continuous disclosure documents filed by Orezone since January 1, 2017 available at www.sedar.com, for this detailed information, which is subject to the qualifications and notes set forth therein.

FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements in this release include statements regarding, among others; satisfying all conditions to closing and completing the sale of the Bondi exploration permit to Sarama during Q3 2017.

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.