Orezone Gold Corporation has received a credit committee approved binding term sheet from Coris Bank for a senior secured project-level term loan (the ?Phase II Term Loan?) for the hard rock expansion. The Phase II Term Loan is denominated in West African Communauté Financière Africain francs (?XOF?), the official currency of Burkina Faso, which will provide a natural currency hedge for local construction costs. approximately $58 million (XOF 35.0 billion at an assumed FX rate of 600).

Term of three years. Interest rate of 11.0% per annum. Available in multiple draws with the first drawdown to repay the Company?s existing bridge loan of approximately $20 million (XOF 12.0 billion) entered into with Coris Bank on May 10, 2024.

Deferral of principal repayments to January 2026. Early repayment permitted, with a prepayment fee of 2%. Conditions precedent to loan drawdowns include execution and delivery of final loan documentation, intercreditor consents and approvals with the existing convertible debenture holders, and other customary conditions.