Orezone Gold Corporation has released an updated life-of-mine plan for its Casa Berardi gold mine in Quebec, replacing previous transitional operating guidance with a projected 14-year production profile spanning 2027 to 2040.

Under the updated technical plan, Orezone forecasts total gold production of 1,630,000 ounces, averaging 116,000 ounces annually at an all-in sustaining cost of US$1,877 per ounce. This marks a material cost reduction from initial 2026 operating guidance issued after the company acquired the asset from Hecla Quebec Inc. on March 25, 2026, which projected a transitional all-in sustaining cost of US$2,600 to US$2,800 per ounce.

The updated study calculates an after-tax net present value at a five percent discount rate of US$1.05 billion using base case consensus gold prices, which rises to US$1.43 billion at a spot gold price of US$4,350 per ounce. Between 2030 and 2038, average annual production is scheduled to increase to a sustained 132,000 ounces at an all-in sustaining cost of US$1,776 per ounce, supported by investments in new underground equipment, underground development, and open pit waste stripping.

"The release of the Casa Berardi Life-of-Mine plan is a significant milestone for Orezone. The result of the Life-of-Mine plan clearly underscores the opportunity and value proposition identified by Orezone in acquiring the Casa Berardi Mine."

"The Life-of-Mine plan highlights a robust 14-year mine life, with average annual production of 116,000 ounces at an All-In Sustaining Cost of US$1,877 per ounce."

— Patrick Downey, President and CEO

The mine plan combines underground operations at the active West Mine with the planned reopening of the past-producing East Mine, alongside four separate open pits: F160, F134, Principal, and WMCP. Because the study incorporates inferred mineral resources, it is classified as a preliminary economic assessment, and no mineral reserves are currently defined for the asset.

To expand the operation, Orezone has reinitiated exploration at Casa Berardi, ramping up drilling to 100,000 metres per year. Permitting and operational milestones are already underway. Operations at the East Mine are scheduled to re-commence in 2029. Additionally, Orezone plans to submit the Phase 2 permit amendment for the F134 open pit in the fourth quarter of 2026, alongside a separate preliminary economic assessment study for its Heva-Hosco development project during the same quarter.

Read the full announcement: Life-of-Mine Plan for Casa Berardi Operations