Orezone Resources Inc.
TSX : OZN
AMEX : OZN

Orezone Resources Inc.

November 06, 2006 10:03 ET

Orezone Resources Inc.: Sega Drilling Intersects Strong Gold Mineralization at Depth

13.4m at 10.8 g/t and 6m at 59.1g/t in RZ Zone 49.5m at 3.1 g/t in Bakou Zone

OTTAWA, ONTARIO--(CCNMatthews - Nov. 6, 2006) - Orezone Resources Inc. (TSX:OZN)(AMEX:OZN) is pleased to announce drill results from a combined core and RC drilling program at its 100% owned Sega project in Burkina Faso, West Africa. Drilling at the 3 principle zones, RZ, Gambo and Bakou indicate that: 1) not only does the mineralization continue at depth, it can be locally very high grade and 2) shallow core drilling results confirm the previous RC drilling and therefore RC drilling can be relied upon to evaluate the near surface mineralization. Please see table of results at www.orezone.com/site/properties/segatable.asp. Highlights of the program are listed below. Hole lengths are down hole intersections and not true widths:



--------------------------------------------------------------------
Section Zone (i)Hole # From To Length Grade
--------------------------------------------------------------------
m m m g/t
--------------------------------------------------------------------
7675 RZ-VV RZC900 64.00 68.00 4.00 4.51
--------------------------------------------------------------------
7700 RZ-VV RZC895 74.00 83.00 9.00 1.65
--------------------------------------------------------------------
7825 RZ-VV RZD010 10.70 14.80 4.10 29.69
--------------------------------------------------------------------
7850 RZ-VV RZD016 53.00 69.00 16.00 2.58
--------------------------------------------------------------------
7875 RZ-VV RZD008 50.00 63.40 13.40 10.75
--------------------------------------------------------------------
8365 RZ East RZD020 223.00 232.00 9.00 3.28
--------------------------------------------------------------------
7850 RZ RZD023 152.50 161.50 9.00 1.11
--------------------------------------------------------------------
7875 RZ RZD038 241.00 244.00 3.00 4.55
--------------------------------------------------------------------
7900 RZ RZD037 229.00 235.00 6.00 59.08
--------------------------------------------------------------------
7925 RZ RZD021 177.00 186.00 9.00 9.94
--------------------------------------------------------------------
7925 RZ RZD022 218.00 222.50 4.50 13.25
--------------------------------------------------------------------
7925 RZ RZD022 91.00 95.00 4.00 6.66
--------------------------------------------------------------------
6775 Gambo SW GRC902 36.00 41.00 5.00 4.86
--------------------------------------------------------------------
6825 Gambo SW GRC904 19.00 30.00 11.00 3.57
--------------------------------------------------------------------
6850 Gambo SW GRC905 14.00 20.00 6.00 4.53
--------------------------------------------------------------------
7270 Bakou BKD035 162.50 212.00 49.50 3.09
--------------------------------------------------------------------
7270 Bakou BKD035 69.00 99.00 30.00 1.18
--------------------------------------------------------------------
7350 Bakou BKD005 46.00 61.00 15.00 1.19
--------------------------------------------------------------------
7375 Bakou BKD034 104.00 127.00 23.00 2.31
--------------------------------------------------------------------
7375 Bakou BKD034 52.00 70.00 18.00 1.51
--------------------------------------------------------------------

(i) Note: Hole numbers with "D" indicates Diamond Core Hole


Two areas have been delineated within the RZ and Bakou structures that indicate these zones have some interesting depth potential. For example, a panel of mineralization, which includes hole RZD022 and RZD037, has been defined at depth on the RZ main structure with dimensions of 75m long and 100m deep with an average grade of more than 12.0g/t. The zone is open at depth with the best results from two of the deepest intersections. See the map of the RZ Zone longsection at www.orezone.com/site/pdf/rzlong.pdf

Ron Little, President of Orezone Resources Inc. comments "With these higher grades at depth, we will have to extend our pit models or consider the cost of an underground component." Mr Little adds "The next phase of drilling will investigate new targets along strike that have arisen from recent large scale modelling, ground geophysics, geological mapping and structural interpretation. Our goal is to qualify a minimum recoverable resource of 600,000 ounces at 2 g/t or better before we can contemplate a mining scenario. We believe that this target is attainable within the next exploration season ending June 2007. Three drill rigs are now working on our other projects in Burkina and Niger and we are expecting one of these rigs to be free in January to commence drilling at Sega."

These latest drill results have been incorporated into revised geological models that have allowed Orezone to produce an up to date block model. Orezone has contracted Genivar to produce a new 43-101 compliant resource that will act as the foundation for an economic study. The study was initiated in September this year with completion expected in December or January. The scope of the study is to outline the expected development costs, environmental issues, and water sources in order to maintain momentum with the project.

Drilling on the Sega 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 were 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 fire assays, duplicates, standards and blanks, as well as tail assays on samples that returned at least 0.5 g/t.

Orezone is an explorer and 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