Orezone Resources Inc.

Orezone Resources Inc.

May 30, 2006 13:19 ET

Orezone Reports on Kossa Drilling Intersects 4m at 69.9 g/t in Narrow, High Grade Gold Zone

OTTAWA, ONTARIO--(CCNMatthews - May 30, 2006) - Orezone Resources Inc. (TSX:OZN) (AMEX:OZN) reports that additional results have been received from the first phase of drilling on the Company's 100 per cent owned Kossa permit in Niger, West Africa. Kossa is located immediately adjacent to the Orezone/Gold Fields Limited Essakane Project with the two properties being separated by the border between Burkina Faso and Niger. A number of major target areas have been identified on Kossa based on soil geochemistry as well as geophysics and geological mapping.

Assay results have been received from four of the five initial target areas and the most significant new intersection was 4m grading 69.9g/t in hole KRC0017 on the Kossa Main prospect. The drilling program consists of widely spaced fences over very large areas and more detailed follow-up of the better results is required. A complete table of results can be found at www.orezone.com/site/properties/kossatable.asp

Results have not yet been received from a 2000m follow up drilling program on the KBF and Fatatako targets where previously reported intersections included 9m grading 2.9 g/t in hole KBC020 as well as 4m grading 7.4 g/t KBC020. Both of these holes were located at the north end of a 2.5km long IP anomaly. Other previously reported intersections included 8m grading 3.4 g/t in hole FKC016 as well as 13m grading 1.5 g/t and 10m grading 2.2 g/t in hole FKC036.

Mr. Ron Little, President & CEO stated: "Although results from the initial 10,000m drill program have been encouraging in that we have intersected bedrock mineralization associated with significant structures, we have not yet intersected "Essakane Main Zone" widths. The style of mineralization and the host rocks are very similar to what is typical of the Essakane Project. This is a very large property that is still at the early stages of exploration."

The latest results are part of an ongoing $2.3 million exploration program in Niger covering the Kossa permit and the Namaga and Koyria permits optioned from Greencastle Resources. A 5000m RAB drilling program on Namaga should be completed this week. Drilling production has been significantly improved to over 1000m per week and sample turn around at the assay labs has been steadily improving.

Drilling on the Kossa property was supervised by Dr. Pascal Marquis, VP Exploration and Mr. Jeff Ackert, VP Technical Services, P.Geo., who is a Qualified Person under National Instrument 43-101 and has reviewed and approved the technical information in this release. Samples were collected at a minimum of every 1m down the hole and analyzed using a 2kg bottle roll cyanide leach at the Abilab Laboratory in Ouagadougou, Burkina Faso, an internationally recognized laboratory. A minimum of 10% of the samples are for QA/QC, which includes random head assays, duplicates, standards and blanks, as well as tail assays on samples that returned at least 0.5 g/t.

Orezone is an emerging gold producer that has an exploration permit for Essakane, the largest gold deposit in Burkina Faso, West Africa where partner Gold Fields Limited is earning a 60 per cent interest by completing a bankable feasibility study. Orezone also has a pipeline of promising 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.

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on 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 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

  • Orezone Resources Inc.
    Ron Little
    President & CEO
    (613) 241-3699 or Toll Free: (888) 673-0663
    Orezone Resources Inc.
    Greg Bowes
    Vice President & CFO
    (613) 241-3699 or Toll Free: (888) 673-0663