Higher Grade Zone at Bomboré Expands Along Newly Identified Mineralized Trend

Highlights include 12 m at 3.4 gpt and 9.6 m at 3.8 gpt
Recent drill results suggests potential for a 3 km prospective corridor

OTTAWA, June 07, 2017 (GLOBE NEWSWIRE) — Orezone Gold Corporation (“Orezone” or the “Company”) (TSXV:ORE) is pleased to announce further positive results from an ongoing drill program at its Bomboré Gold Project in Burkina Faso. The program is currently focused on expanding the P17S sulphide zone situated 2 km south of the Bomboré mining permit, and exploring for similar granodiorite-hosted gold mineralization on the property.

Drilling to date has now intersected the P17S mineralized granodiorite from surface to a vertical depth of 150 m with a down-plunge continuity exceeding 425 m. Highlights include:

Hole TYD0073, which returned 4.80 m of 2.29 g/t Au and 6.30 m of 4.47 g/t Au;

Hole TYD0074, which returned 8.50 m of 3.95 g/t Au;

Hole TYD0075, which returned 9.60 m of 3.80 g/t Au;

Hole TYD0076, which returned 12.00 m of 3.40 g/t Au;

Hole TYD0077, which returned 14.00 m of 1.65 g/t Au;

Hole TYD0078, which returned 5.00 m of 4.94 g/t Au;

Hole TYD0079, which returned 5.90 m of 2.44 g/t Au;

Hole TYD0080, which returned 5.00 m of 3.17 g/t Au;

Hole TYD0081, which returned 8.80 m of 2.70 g/t Au;

Hole TYD0082, which returned 13.30 m of 2.06 g/t Au;

Hole TYD0083, which returned 9.70 m of 3.38 g/t Au;

Hole TYD0084, which returned 2.00 m of 14.10 g/t Au; and

Hole TYD0087, which returned 6.90 m of 4.85 g/t Au.

Significantly mineralized granodiorite has now been intercepted to the northeast of P17S in a series of scout drilling holes that were targeting the gap between the P17S and P17 deposits where the prospective sequence has now been confirmed over an additional strike length of more than 400 m.  Highlights include:

Hole BBD0978, which returned 9.00 m of 1.49 g/t Au;

Hole BBD0980, which returned 10.00 m of 3.20 g/t Au;

Hole BBD0981, which returned 8.20 m of 1.89 g/t Au and 7.80 m of 1.54 g/t Au;

Hole BBD0982, which returned 9.80 m of 1.55 g/t Au; and

Hole TYD0077, which returned 14.00 m of 1.65 g/t Au.

Furthermore, at Zone 172, less than one kilometer to the southwest of P17S, scout RC drilling of auger drilled gold anomalies and limited core drilling intersected mineralized granodiorite within a meta-gabbro sequence. All three zones, (172, P17S and P17) span a corridor of more than 2.5 kilometers in length and about 400 m in width that is now interpreted to be very prospective for the higher-grade granodiorite-hosted gold mineralization.  See Figures 1 and 2 below.

Commenting on the results, Patrick Downey, President and CEO, stated, “These new drill results along the P17 corridor continue to demonstrate the potential to both expand higher grade shallow resources at Bomboré and open up previously untested zones.  The drilling continues both to intercept mineralization containing both good grade and widths and is open along strike and down dip.  The Company plans to continue drilling in this prospective corridor and to evaluate and drill other prospective areas on this largely underexplored property.”

The Company has completed more than 13,000 m of auger, reverse circulation and core drilling to date in 2017 and is planning additional drilling before the 2017 rainy season.

All assays were performed using a 1kg bottle roll technique (identical to the other Bomboré samples); leach residue assays are pending for 3 core holes.  A complete list of historical drill results on P17S and analytical procedures can be found on the Company’s website at the following link (P17S Drill Results). Please note true widths to be determined.

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 Bomboré, 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.  The Company is continuing with exploration and various technical studies in order to be in a position to release highlights of an updated feasibility study in Q4 2017.

For further information please contact Orezone at +1 (613) 241‑3699 or visit the Company’s website at www.orezone.com.

Tim Miller, SME and COO, Pascal Marquis, Geo and SVP and Patrick Downey, PEng and CEO of Orezone, are Qualified Persons under National Instrument 43-101 and have approved 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; the drill results from the recently completed drill program P17S have the potential to both expand higher grade shallow resources at Bomboré and open up previously untested zones, recent drill results suggests potential for a 3 km prospective corridor, and releasing highlights of an updated feasibility study at Bomboré in Q4 2017.

Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

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.

Photos accompanying this release are available at 
http://www.globenewswire.com/NewsRoom/AttachmentNg/147dc6d4-a3f8-4344-9a97-1d7f7f98c259
http://www.globenewswire.com/NewsRoom/AttachmentNg/2483d050-5f41-49a4-872d-28039810bff8

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