Orezone Resources Inc.

Orezone Resources Inc.

December 19, 2007 16:58 ET

Orezone Closes Over-Allotment Option

OTTAWA, ONTARIO--(Marketwire - Dec. 19, 2007) - Orezone Resources Inc. (TSX:OZN) (AMEX:OZN) is pleased to announce that the underwriters of its previously announced public offering of common shares have exercised their option to purchase an additional 13,873,830 common shares and that Orezone has issued such shares to the underwriters. The purchase was made pursuant to the Underwriting Agreement between the underwriters and Orezone dated November 16, 2007.

The syndicate of investment dealers, led by BMO Capital Markets, CIBC World Markets and J.P. Morgan Securities Inc., and that included Canaccord Capital Corporation Inc. and Raymond James Ltd., purchased the 13,873,830 shares at a price of US$1.20 per share for additional gross proceeds of US$16,648,596. This increases the total gross proceeds from the common share financing to US$216,688,596, including the concurrent US$15,000,000 private placement announced on November 26, 2007.

Orezone is an explorer and emerging gold producer whose main asset is Essakane, the largest gold deposit in Burkina Faso, West Africa. The company has a pipeline of projects, all located in politically stable areas of West Africa which is one of the world's fastest growing gold producing regions. Orezone's mission is to create wealth by discovering and developing the earth's resources in an efficient and responsible manner.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or province in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or province.

A copy of the final prospectus may be obtained from BMO Capital Markets - in Canada, call BMO Nesbitt Burns' distribution center, Des Raposo at 416-363-6996 (ext. 224); in the U.S., contact BMO Capital Markets, 3 Times Square, 27th Floor, New York, New York, 10036 Attn: Catherine Cruz Tel: 212-702-1937.

Statements relating to the anticipated use of proceeds are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including and other risks and uncertainties, including those described in Orezone's Annual Report on Form 40-F for the year ended December 31, 2006 and Reports on Form 6-K filed with or furnished to the Securities and Exchange Commission. Other risks include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, 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.

Contact Information