Orezone Gold Corporation: Positive Metallurgical and Drill Results from the Bondi Project

Orezone Gold Corporation (TSX:ORE) is pleased to provide an update on a recently
completed metallurgical study and the latest drill results for its wholly owned
Bondi Gold Project in Burkina Faso, West Africa. Bondi is the Company's second
tier project with an NI 43-101 qualified resource of 282,000 oz of Measured and
Indicated resources (4.2 Mt @ 2.1 g/t) and 149,700 oz of Inferred resources (2.5
Mt @ 1.8 g/t).


Metallurgical Highlights



--  Direct agitated cyanidation recoveries averaged 94% for oxide, 93% for
    semi-oxidized and 91% for sulphide material. 
--  Recoveries were greater than or equal to 90% for all of the composite
    samples at all grind sizes between 75 micrometre to 106 micrometre,
    irrespective of the cyanide concentration used (0.5 to 2.0 gNaCN/L). 
--  Rapid gold recovery at all feed sizes; 6 to 12 hours for oxide and
    within 12 hours for sulphide. 
--  Sulphide samples responded well to the scoping flotation testing at a
    grind size of 75 um with 88.3% of the gold recovered in 4.3% of the feed
    weight for a composite sample with a grade of 2.2 g/t, and 91.6% of the
    gold recovered in 6.8% of the feed weight for a composite sample with a
    grade of 6.9 g/t.



Drilling Highlights



--  New infill core holes within the inferred resources were broadly in line
    with the resource model and will assist to upgrade those resources to
    the indicated category. 
--  New RC holes tested auger drill anomalies generated in 2012, extending
    zone 372 by about 275 m to the SE, and intersected gold mineralization
    about 1,500 m to the south of zone 2S, in the same host rock (porphyry).
    Many of the better auger anomalies remain untested. 
--  A Mobile Metal Ions (MMI(TM)) geochemical survey test was completed over
    a 400 m section where two blind deposits are present (Zone 2NW and 2NE):
    the test was conclusive, with a strong gold anomaly over the blind
    deposits where conventional soil chemistry did not work. This will be
    useful for future target generation and prioritization where the
    geophysics indicates strong structures and the conventional soil
    geochemistry has been weak.



Metallurgical Study

A suite of thirty-six samples representative of Bondi oxide, sulphide and mixed
gold-bearing material were submitted to McClelland Laboratories in Sparks,
Nevada last year for detailed head analysis to characterize the samples by
grade, cyanide solubility, elemental make-up and carbon and sulphide content.
Direct agitated cyanidation tests were performed on all samples at a feed size
of 80% passing 75 micrometre and a cyanide concentration of 1.0 g NaCN/L for a
standard leach time of 72 hours. The majority of the samples were then combined
into four different composites that represented medium grade oxide (MGO), high
grade oxide (HGO), medium grade sulphide (MGS) and high grade sulphide (HGS)
material. Metallurgical testing of the four composite samples included:




--  direct agitated cyanidation at various feed sizes to determine gold and
    silver recoveries, recovery rate, reagent consumption and feed size
    sensitivity; 
--  direct agitation at various cyanide concentrations to determine optimum
    cyanide dosing; 
--  mechanically agitated cyanidation to evaluate the benefits of sparging
    and the addition of lead nitrate; and 
--  Carbon-in-leach (CIL) mechanically agitated cyanidation to determine the
    effects of adding activated carbon during leaching.



In addition, metallurgical testing of the two sulphide composite samples
included scoping level bulk sulphide flotation at a feed size of 80% passing 75
micrometre, followed by further testing at other feed sizes between 80% passing
106 micrometre and 80% passing 53 micrometre.


Two master composite samples were prepared for gravity testing, combining the
MGO and HGO variability samples into an Oxide Master Composite (Oxide MC) and
the MGS and HGS variability samples into a Sulphide Master Composite (Sulphide
MC), which were both subjected to:




--  scoping level gravity concentration to evaluate recovery using a Knelson
    concentrator; 
--  extended gravity recoverable gold (E-GRG) to determine the GRG content
    of the composite and the distribution of the GRG by particle size; and 
--  agitated cyanidation on gravity concentration products to determine
    response to cyanidation and optimum leaching conditions for both gravity
    concentrate and gravity tails;



A petrographic study of the four composite samples was completed by Economic
Geology Consultants from Reno, NV, USA.


Orezone submitted a suite of nineteen whole PQ core samples representative of
Bondi oxide, sulphide and mixed gold-bearing material to McClelland Laboratories
in June 2012. McClelland submitted in July 2012 four composite whole PQ core
samples of oxide (2) and sulphide (2) gold-bearing material to Hazen Research
Inc. from Golden, CO, USA, for comminution test work that yielded the following
results:




----------------------------------------------------------------------------
Comminution Test                            Oxide    Oxide    Fresh    Fresh
                                             (I1)     (S3)     (I1)     (S3)
----------------------------------------------------------------------------
Bond ball mill work index         kWh/t       5.9      4.0     21.0     18.1
----------------------------------------------------------------------------
Bond crusher work index           kWh/t       1.8      1.9     14.3      8.7
----------------------------------------------------------------------------
Bond abrasion index               Gram      0.001    0.009    0.145    0.053
----------------------------------------------------------------------------
Unconfined Compressive Strength   Psi                                       
 (UCS)                                                       15,960   11,530
----------------------------------------------------------------------------
Overall AG-SAG hardness (A x b)               473      584       36       68
----------------------------------------------------------------------------
Drop Weight Index                 kWh/m3      0.6      0.5      8.1      4.1
----------------------------------------------------------------------------



Conclusions of the McClelland Laboratories Metallurgical report were:



--  Overall metallurgical performance of the oxide and sulphide gold-bearing
    materials was very similar; 
--  All variability samples were amenable to whole ore milling cyanidation
    treatment at a feed size of 80% passing 75 micrometre and a cyanide
    concentration of 1.0 g NaCN/L; 
--  Maximum or near maximum gold recoveries for the oxide composites were
    obtained at a feed size of 80% passing 75 micrometre; 
--  Maximum or near maximum gold recoveries for the sulphide composites were
    obtained at a feed size of 80% passing 53 micrometre; 
--  Maximum or near maximum gold recoveries for the oxide composites were
    obtained at a cyanide concentration of 0.5 gNaCN/L (the lowest
    concentration used for this optimization work, leaving possibly room for
    improvement); 
--  Maximum or near maximum gold recoveries for the sulphide composites were
    obtained at a cyanide concentration of 0.5 to 1.0 gNaCN/L; 
--  Rapid gold recovery rates were achieved with leaching substantially
    complete within twelve hours for most variability samples and composites
    evaluated; 
--  Air sparging, oxygen sparging and lead nitrate addition during
    cyanidation testing did not improve gold recoveries; 
--  Sulphide composites responded well to flotation treatment for recovery
    of gold; 
--  Gravity recoverable gold is generally liberated evenly through the grind
    sizes tested; 
--  Gold recovery from the cyanidation of gravity products is essentially
    the same as that from the whole ore cyanidation.



Recommendations of the McClelland Metallurgical report are:



--  Further optimization of flotation conditions for the sulphide composites
    is warranted as they showed high gold recoveries by flotation; 
--  Further optimization of the cyanide concentration as gold recoveries did
    not decrease for many oxide and sulphide samples at the lowest cyanide
    concentration tested (0.5 gNaCN/L), and cyanide concentrations as low as
    0.25 gNaCN/L were effective for gravity product cyanidation.



The complete metallurgical report is filed on the Company's website at
www.orezone.com.


Exploration and definition drilling

The recent drilling included a 14-hole (2,497 m) core program that targeted
Inferred blocks within the existing resource, and a 93-hole (4,581 m) RC program
that tested auger drill anomalies generated in 2012 in the area located to the
SE of the current resource.


The core drilling program returned results that were broadly in line with the
resource model and that will assist to upgrade part of the current Inferred
blocks to the Indicated category.


The RC drill program intersected narrow gold mineralization along strike from
zone 372 resulting in a possible extension of 275 m to the SE for a total strike
length of at least 1,150 m. This zone is still open-ended to the SE, and hole
BRC0833 intersected mineralization about 90 m into the footwall of zone 372
where most of the best auger anomalies were not tested due to difficult drilling
conditions, including a shallow water table. Hole BRC0833 was stopped in
mineralization and intersected 4 m at a grade of 12.6 g/t, including one meter
at 43.3 g/t.


Breakdown of Drilling Meterage for this Release



----------------------------------------------------------------------------
Zone                                    Core Drilling            RC Drilling
                               ---------------------------------------------
                                # of holes    Total m  # of holes    Total m
----------------------------------------------------------------------------
Z2                                      11      2,066           0          0
----------------------------------------------------------------------------
Z2S                                      3        431           0          0
----------------------------------------------------------------------------
Z2SE                                     0          0           1         50
----------------------------------------------------------------------------
372                                      0          0           4        179
----------------------------------------------------------------------------
GBF                                      0          0          88       4353
----------------------------------------------------------------------------
TOTAL                                   14      2,497          93      4,581
----------------------------------------------------------------------------



Highlights of Core Drilling Results for this Release



--------------------------------------------------------------
                                                 Uncut     Cut
                          From      To  Length   Grade   Grade
Zone  Section Hole         (m)     (m)     (m)   (g/t)   (g/t)
--------------------------------------------------------------
Z2    3550N   BDD0058    101.0   103.0     2.0    6.33    5.00
--------------------------------------------------------------
Z2    3375N   BDD0063    156.0   165.0     9.0    6.62    3.55
--------------------------------------------------------------
Z2    3225N   BDD0065    134.0   136.0     2.0   34.91    5.00
--------------------------------------------------------------
Z2    3225N   BDD0065    191.0   201.0    10.0    2.17    1.78
--------------------------------------------------------------
Z2    3025N   BDD0066    169.0   175.0     6.0    2.32    2.18
--------------------------------------------------------------
Z2    2975N   BDD0067    195.0   202.0     7.0    1.89    1.89
--------------------------------------------------------------
Z2    2900N   BDD0068    134.5   142.0     7.5    1.58    1.58
--------------------------------------------------------------
Z22S  2400N   BDD0070    135.0   151.0    16.0    2.54    2.25
--------------------------------------------------------------



Reverse Circulation ( "RC" ) Drilling Results for this Release



--------------------------------------------------------------
                                                 Uncut     Cut
                          From      To  Length   Grade   Grade
Zone  Section Hole         (m)     (m)     (m)   (g/t)   (g/t)
--------------------------------------------------------------
372   6000    BRC0830    18.00   23.00    5.00    0.63    0.63
--------------------------------------------------------------
372   6050    BRC0831    21.00   24.00    3.00    1.14    1.14
--------------------------------------------------------------
372   6100    BRC0832    18.00   23.00    5.00    1.20    1.20
--------------------------------------------------------------
372   6000    BRC0833    40.00   44.00    4.00   12.60    3.04
--------------------------------------------------------------
GBF W 5800    BRC0856    12.00   14.00    2.00    0.68    0.68
--------------------------------------------------------------
GBF W 5400    BRC0868    41.00   45.00    4.00    0.72    0.72
--------------------------------------------------------------
GBF W 5400    BRC0874    35.00   47.00   12.00    0.96    0.96
--------------------------------------------------------------
GBF W 5400    BRC0874    52.00   55.00    3.00    0.94    0.94
--------------------------------------------------------------
GBF W 5400    BRC0875    22.00   24.00    2.00    0.88    0.88
--------------------------------------------------------------
GBF W 5200    BRC0892    15.00   19.00    4.00    2.21    2.21
--------------------------------------------------------------
GBF W 5200    BRC0892    33.00   35.00    2.00    1.01    1.01
--------------------------------------------------------------



The mineralized intervals are based on a lower cut-off grade of 0.5 g/t, a
minimal width of 2 m and up to a maximum of one meter of dilution being
included. Grades are weighted average of individual assays. Cut grades use a
top-cut of 5 g/t as per historical procedures. The true width of the
mineralization is approximately 70% of the drill length interval. The half-core
samples were collected by Orezone employees using a diamond saw. The core
samples were prepared by SGS Burkina Faso s.a.r.l. at the Bombore site facility
and then split by Orezone to 1 kg using Rotary Sample Dividers (RSDs). A 1 kg
aliquot was analyzed for leachable gold at BIGS Global Burkina s.a.r.l in
Ouagadougou, by bottle-roll cyanidation using a LeachWell(TM) catalyst.


The RC drilling samples were divided by Orezone employees using Rotary Sample
Dividers (RSDs). A 2 kg split was prepared by SGS Burkina Faso s.a.r.l. at the
Bombore site facility and then split by Orezone to 1 kg using Rotary Sample
Dividers (RSDs). A 1 kg aliquot was analyzed for leachable gold at BIGS Global
Burkina s.a.r.l in Ouagadougou, by bottle-roll cyanidation using a LeachWell(TM)
catalyst. The leach residues from all samples with a leach grade in excess of
0.2 g/t were prepared by BIGS Global Burkina s.a.r.l. and then split by Orezone
to 50 g using Rotary Sample Dividers (RSDs). A 50 g aliquot was analyzed by fire
assay at SGS Burkina Faso s.a.r.l.. Orezone employs a rigorous Quality Control
Program (QCP) including a minimum of 10% standards, blanks and duplicates.


Qualified Persons 

The drilling program was executed under the supervision of Pascal Marquis, SVP
Exploration for Orezone; the report titled "Report on Metallurgical Testing -
Bondi Drill Samples, MLI Job No. 3685" was prepared under the supervision of J.
McPartland, Metallurgist and VP Operations at McClelland Laboratories. All are
Qualified Persons under National Instrument 43-101 and approved their respective
technical information in this release. 


About Orezone Gold Corporation 

Orezone is a Canadian company with a gold discovery track record of +12 Moz and
recent mine development experience in Burkina Faso, West Africa. The company
owns a 100% interest in Bombore which is situated 85 km east of the capital
city, adjacent to an international highway. Mineral resources are constrained
within optimized open pit shells that span 11 km, and include 4.13 Moz of
measured and indicated (125 Mt @ 1.03 g/t) and 1.03 Moz of inferred resources
(35 Mt @ 1.00 g/t) with an average depth of drilling to only 120 meters. The
Company is completing a Feasibility Study ("FS") at Bombore for a phase one
oxide-only CIL plant in 2H 2013 in order to become a mid-tier gold producer.


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; upgrading Bondi
resources, improved metallurgical recoveries, completing a FS in 2H 2013, and
becoming a mid-tier gold producer.


FORWARD-LOOKING STATEMENTS are based on certain assumptions, the opinions and
estimates of management at the date the statements are made, and are subject to
a variety of risks and uncertainties and other factors that could cause actual
events or results to differ materially from those projected in the
forward-looking statements. These factors include the inherent risks involved in
the exploration and development of mineral properties, the uncertainties
involved in interpreting drilling results and other geological and geotechnical
data, fluctuating metal prices, the possibility of project cost overruns or
unanticipated costs and expenses, the ability of contracted parties (including
laboratories and drill companies to provide services as contracted);
uncertainties relating to the availability and costs of financing needed in the
future and other factors. The Company undertakes no obligation to update
forward-looking statements if circumstances or management's estimates or
opinions should change. The reader is cautioned not to place undue reliance on
forward-looking statements. Comparisons between any resource model or estimates
with the subsequent drill results are preliminary in nature and should not be
relied upon as potential qualified changes to any future resource updates or
estimates.


Readers are advised that National Instrument 43-101 of the Canadian Securities
Administrators requires that each category of mineral reserves and mineral
resources be reported separately. Readers should refer to the annual information
form of Orezone for the year ended December 31, 2012 and other continuous
disclosure documents filed by Orezone since January 1, 2013 available at
www.sedar.com, for this detailed information, which is subject to the
qualifications and notes set forth therein.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Orezone Gold Corporation
Ron Little, CEO
[phone]
Toll Free: [phone]
[e-mail]


Orezone Gold Corporation
Pascal Marquis, SVP Exploration
[phone]
Toll Free: [phone]
[e-mail]