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14 Year Mine Life with an After-Tax NPV5% of US$1.05 Billion
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VANCOUVER, British Columbia, Sept. 15, 2026 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE | ASX: ORE | OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to announce an updated Life-of-Mine plan for its recently acquired Casa Berardi gold mine, located in Quebec, Canada.
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Casa Berardi Life-of-Mine Plan Highlights
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- 14-year mine life (2027-2040) with 1,630,000 ounces of total gold production
- Life-of-Mine average annual gold production of 116,000 ounces at AISC1 of $1,877 per ounce
- Years 2030-2038 average annual gold production of 132,000 ounces at AISC of $1,776 per ounce
- After-tax NPV5%2 of $1.05 billion at Base Case consensus gold prices3
- After-tax NPV5% increases to $1.43 billion at $4,350 per ounce spot gold price4
- Orezone has reinitiated exploration at Casa Berardi, currently ramping-up drilling to 100,000 metres per annum. Multiple actionable exploration fronts, with clear opportunity to increase underground grades, expand production and further reduce costs
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Patrick Downey, President and CEO, commented “The release of the Casa Berardi Life-of-Mine plan is a significant milestone for Orezone. The result of the Life-of-Mine plan clearly underscores the opportunity and value proposition identified by Orezone in acquiring the Casa Berardi Mine. Its transformational acquisition positions the Company as an established multi-asset producer, with a significant and fully funded growth profile.
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The Life-of-Mine plan highlights a robust 14-year mine life, with average annual production of 116,000 ounces at an All-In Sustaining Cost (“AISC”) of US$1,877 per ounce. The initial years of the plan are marked by a ramp-up phase, with investments in new equipment, underground development and open pit waste stripping, supporting an increase in average annual production to a sustained 132,000 ounces. The Company views this Life-of-Mine plan as an excellent baseline, which with ongoing optimization and exploration, we fully expect to further increase the production profile and lower costs.
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This upside potential has already been well demonstrated, with the Casa Berardi mill continuously operating at rates above that assumed in the Life-of-Mine plan, and initial exploration results highlighting the near-term potential to delineate higher-grade underground zones of near-surface mineralization.
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The Casa Berardi Life-of-Mine plan also marks an important milestone in Orezone’s expansion into Quebec, the foundation of which is the support of our dedicated employees, community partners and First Nations. The Company looks to continue this momentum with the release of a PEA study on its Heva-Hosco development project, located along the prolific Cadillac Larder-Lake Break in Quebec, in the fourth quarter.”