Orezone’s Dual-Mine Strategy Delivers, Weathers Wildfire Challenge

VANCOUVER, British Columbia – July 14, 2026 – In the world of business momentum, few signals are as clear as a successful strategic pivot. Orezone Gold Corporation just sent one of those signals, reporting strong Q2 production numbers that mark its first full quarter as a multi-mine producer. The results not only showcase the successful integration of its recently acquired Casa Berardi mine in Canada but also underscore the operational strength of its foundational Bomboré mine in West Africa. Yet, even as the company celebrates this milestone, it faces a real-world test of its resilience: a wildfire forcing a temporary suspension at its new Canadian asset.

For investors and analysts decoding growth signals, Orezone’s current position is a compelling case study. The company is executing a complex geographic and operational expansion while navigating the unpredictable challenges inherent in the natural resources sector. The latest production report provides a clear look under the hood of this emerging intermediate producer, revealing a dual-engine strategy firing on schedule, even as external pressures mount.

A New Chapter in Production

Orezone’s transformation into a multi-asset gold producer became tangible this quarter. The company reported consolidated gold production of 58,566 ounces, a significant jump from the 38,789 ounces produced in Q1. This leap is the direct result of the Casa Berardi mine, acquired from Hecla Mining on March 25, 2026, contributing a full quarter of production for the first time.

"The second quarter marked Orezone's first full quarter as a multi-mine producer following the acquisition of Casa Berardi, with both operations performing in line with our expectations," commented Patrick Downey, President and CEO.

Breaking down the numbers reveals a balanced contribution. The Bomboré mine in Burkina Faso produced a steady 38,063 ounces, while the Casa Berardi mine in Quebec added 20,503 ounces. With year-to-date production now at 97,355 ounces, Orezone is on a clear trajectory to meet its full-year consolidated guidance of 220,000 to 240,000 ounces. However, achieving this will depend entirely on a heavily back-weighted second half of the year, a strategy the company has been telegraphing for months. To hit the low end of its guidance, Orezone will need to produce over 122,000 ounces in the next two quarters—a significant ramp-up, but one for which it has been actively preparing.

Investing for the Future at Casa Berardi

The Casa Berardi mine is more than just a new line item on a production report; it represents a strategic diversification into a Tier-1 mining jurisdiction and the foundation for Orezone’s next stage of growth. The company has designated 2026 as a “transition year” for the asset, a signal that it is prioritizing long-term value over short-term output. This involves significant capital investment aimed at optimizing the mine for decades to come.

During the quarter, Orezone poured capital into underground development, expanded its definition drilling programs, and mobilized new equipment and labor. This work is designed to support higher underground throughput and production in future quarters. While the mine currently processes some lower-grade stockpiles to feed its mill—which is already outperforming, averaging 4,000 tonnes per day against a plan of 3,900—the real prize comes in Q4, when access to higher-grade direct feed ore is scheduled to increase. This sequencing is a deliberate and crucial part of the plan, designed to bridge the production gap while the necessary development work is completed. Investors are now keenly awaiting an updated Life-of-Mine study, expected in September, which should provide the first comprehensive look at Orezone’s long-term vision for this cornerstone asset.

Bomboré’s Hard Rock Engine Powers Up

While Casa Berardi represents the new frontier, the Bomboré mine remains the company’s operational heart. Having built and brought the mine into production in late 2022, Orezone is now executing the critical pivot from processing softer oxides to mining and processing higher-grade hard rock ore. This transition is the primary driver behind the mine's expected production surge in the second half of 2026.

In Q2, Bomboré delivered strong mining performance, with mining activities advancing as planned after overcoming intermittent explosive supply issues experienced in Q1. By securing a second supplier, the company has mitigated a key operational risk—a signal of a maturing and proactive management team. The focus is now on gaining improved access to the higher-grade P17 pit, which will be the main source of ore in the latter half of the year. The processing plant has proven its capability, with both oxide and hard rock circuits continuing to exceed their nameplate design capacity. Further enhancements are imminent, with a Stage 2A expansion—including a new rock breaker, thickener, and oxygen plant—on track for completion in late Q3, promising incremental gains in recovery and throughput.

Trial by Fire: A Test of Operational Resilience

On July 10, the complexities of operating in the real world arrived in the form of a wildfire that started approximately twelve kilometers from the Casa Berardi site. In a move prioritizing safety, Orezone voluntarily suspended operations. For any other company in a delicate transition phase, such an event could be a major setback, potentially derailing production targets and shaking investor confidence.

However, Orezone’s response is a growth signal in itself. The company has stated it does not expect the temporary suspension to impact its 2026 production guidance for Casa Berardi. This confidence stems from several factors: favorable weather and suppression efforts are expected to allow a swift resumption of operations, and the mine's production schedule already contains flexibility. With Q3 planned to be the weakest quarter for Casa Berardi before a strong Q4 ramp-up, the operational plan has inherent buffers to absorb such a short-term disruption. By navigating this external threat without flinching on its annual targets, Orezone is demonstrating a level of operational resilience and contingency planning that is critical for any company aspiring to become a sustainable, long-term producer.