Name and Location
Bomboré gold project, Burkina Faso.

Client
Orezone Gold.

Project Description
The 105 km² Bomboré gold property is the largest undeveloped gold deposit in Burkina Faso. Metallurgical testing has revealed that the deposit is amenable to heap leaching, with indicated recoveries grading at 82% for oxide, 80% for transition and 93% recoveries for carbon-in-leach (CIL) mining.

The project plans to develop an openpit oxide heap-leach operation and a large CIL operation, with a total capacity of more than nine-million tons of ore a year.

The base case heap-leach project will have an eight-year mine life and average yearly production of 118 000 oz of gold, while it is envisioned that the larger CIL operation will operate for more than nine years and produce an average of 240 000 oz/y of gold.

Net Present Value/Internal Rate of Return
Not stated.

Value
The initial capital expenditure (capex) for the heap-leach and CIL projects is estimated at $204.7-million and $499.5-million respectively.

Duration
First gold production from the mine is planned for 2015.

Latest Developments
Orezone is on schedule to complete the feasibility study of its Bomboré gold project during the first quarter of next year, after which it will apply for a mining permit to develop the project during the second quarter.

Work on the mine plan will also start immediately and is expected to be completed early next year.

Work on the project’s environmental- and social-impact assessment and relocation plan will continue into the second quarter of 2015 in order for the company to apply for a mining permit, with a resource update also expected during the first quarter of next year.

The metallurgical test results, to date, continue to indicate that the overall gold recovery from the project’s combined heap-leach and CIL circuits will be between 80% and 90% on oxide materials.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Orezone Gold (Burkina Faso), tel +226 50 35 5642 or fax +226 50 35 5644; or CEO Ron Little, tel +1 613 241 3699 or email rlittle@orezone.com.