Orezone Resources Inc.

Orezone Resources Inc.

March 08, 2005 09:02 ET

Orezone Resources Inc.: Significant New Mineralization Intersected Below Essakan Main Zone


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: OREZONE RESOURCES INC.

TSX, AMEX SYMBOL: OZN

MARCH 8, 2005 - 09:02 ET

Orezone Resources Inc.: Significant New Mineralization
Intersected Below Essakan Main Zone

OTTAWA, ONTARIO--(CCNMatthews - March 8, 2005) -

Intersections include 16.1 g/t over 23.5m and 6.6 g/t over 16.5m

Orezone Resources Inc. (TSX:OZN)(AMEX:OZN) is pleased to announce that
drilling on the Company's Essakan gold project in Burkina Faso, West
Africa has intersected significant new zones of mineralization in the
footwall below the Essakan Main Zone ("EMZ"). Results include 16.1 g/t
over 23.5m in hole ERC708D, 6.6 g/t over 16.5m in hole ERC707D and 14.4
g/t over 7.5m in hole ERC858D.

The footwall mineralization has been intersected on multiple sections
and could represent one or more zones which parallel the EMZ near
surface and at depth. Modelling of the footwall mineralization is in
progress and drilling on 50m by 100m sections will continue to evaluate
the potential of the footwall zones. Orezone currently has 5 reverse
circulation ("RC") drill rigs and one diamond core rig working on the
EMZ.

To date, 36,301m of RC and 4,713m of diamond core drilling have been
completed during an ongoing $6.6 million program which commenced in
August, 2004. The objectives of the program are to both increase and
upgrade resources in the EMZ. The core drilling primarily consists of
deepening shallow holes drilled with RC drill rigs that have limited
depth capabilities. The program includes both infill drilling the
existing resource on 25m by 25m centres and expansion drilling which is
targeting the down plunge extension of the EMZ, the western margin of
the EMZ, and mineralization which consistently showed up in the bottom
of holes drilled through the EMZ and into the footwall.

Ron Little, President of Orezone stated that "This new discovery
confirms that there is significant potential to expand resources in the
EMZ. Further drilling is required to define the limits of the
mineralization down dip, along strike to the north and in the footwall."
Indicated resources in the EMZ currently total 49 Mt grading 1.5 g/t
(2.4 Moz) and inferred resources total an additional 5.7 Mt grading 1.7
g/t (0.3 Moz) based on a 0.5 g/t cut off grade. These resources were
calculated in August, 2004 and before the current drilling campaign
commenced.



Table 1. Summary of Recent Results from the EMZ.
(see complete table of results at www.orezone.com/emztable.asp)

---------------------------------------------------------------------
Hole Section From To Length Grade Grade Minerali- Comments
Cut zation
M m m g/t 30g/t Zone
---------------------------------------------------------------------
ERC990 49850N 3.0 15.0 12.0 3.77 Main RC
ERC990 49850N 28.0 38.0 10.0 3.16 FW RC
ERC990 49850N 51.0 70.0 19.0 9.12 4.95 FW RC
ERC993 49850N 0.0 21.0 21.0 1.37 Main RC
ERC995 49900N 45.0 52.0 7.0 5.07 Main RC
ERC995 49900N 62.0 71.0 9.0 2.54 FW RC
ERC998 49900N 14.0 43.0 29.0 0.75 Main RC
ERC1000 49950N 56.0 61.0 5.0 6.18 FW RC
ERC1001 49950N 3.0 26.0 23.0 1.36 Main RC
ERC1001 49950N 42.0 58.0 16.0 1.28 FW RC
ERC1002 49950N 36.0 45.0 9.0 2.18 FW RC
ERC1003 49950N 33.0 59.0 26.0 1.06 FW RC
ERC1010 50050N 11.0 34.0 23.0 1.51 Main RC
ERC1011 50100N 33.0 51.0 18.0 1.54 FW RC
ERC1016 50150N 81.0 90.0 9.0 5.17 FW #2 RC
ERC1019 50200N 0.0 52.0 52.0 0.64 Main RC
ERC864 50825N 3.0 121.0 118.0 1.91 Main RC
ERC861 50875N 9.0 72.0 63.0 1.93 Main RC
ERC862 50875N 22.0 85.0 63.0 2.34 Main RC
ERC862 50875N 149.0 154.0 5.0 25.11 FW #2 RC
ERC863 50875N 52.0 100.0 48.0 1.62 Main RC
ERC810D 50925N 0.0 1.0 28.0 0.80 Main RC
ERC858D 50925N 12.0 78.0 65.0 1.39 Main RC
ERC858D 50925N 156.5 164.0 7.5 14.44 FW #2 DD
ERC859D 50925N 21.0 61.0 40.0 1.53 Main RC
ERC859D 50925N 73.0 82.0 9.0 2.42 FW RC
ERC860D 50925N 55.0 92.0 37.0 12.57 Main RC
ERC866 50950N 5.0 42.0 37.0 1.14 Main RC
ERC852D 50975N 114.0 151.0 37.0 1.61 FW #2 DD
ERC865 50975N 5.0 41.0 36.0 0.77 Main RC
ERC1051 51000N 7.0 47.0 40.0 1.01 Main RC
ERC707D 51250N 144.0 180.0 36.0 3.71 3.02 FW DD
including 154.5 171.0 16.5 6.63 4.40 FW DD
ERC708D 51250N 131.0 150.0 19.0 4.67 Main RC
ERC708D 51250N 171.0 194.5 23.5 16.11 7.37 FW DD


Note: Samples were collected at a minimum of every 1m down the hole and
analyzed using a 2kg bottle roll cyanide leach at the SGS Laboratory in
Tarkwa, Ghana, an internationally recognized laboratory. A minimum of 5%
of the samples are for QA/QC, which includes duplicates, triplicates,
standards and blanks. The program was carried out under the supervision
of Jeffrey Ackert, VP Exploration, and qualified person for Orezone.

Gold Fields Limited can earn a 50 per cent interest in the Essakan
Property by spending US $8 million over five years, and can increase its
interest to 60 per cent by financing and completing a bankable
feasibility study. Gold Fields will surpass US $8 million in
expenditures by July 05, making this project its top priority. The
objective is to complete a new resource calculation by June 05, commence
a full feasibility study by September 06 and make a production decision
by June 06. Orezone is currently the operator of the joint venture.

Orezone Resources Inc. (OZN:TSX, AMEX) is a Canadian emerging gold
producer that owns Essakan, the largest gold deposit in Burkina Faso, as
well as several advanced stage projects in West Africa. Essakan is under
joint venture with Gold Fields Limited and has progressed to the
feasibility stage. Burkina Faso is a politically stable country that is
located in 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.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Orezone Resources Inc.
    Ron Little
    President & CEO
    (613) 241-3699 or Toll Free: (888) 673-0663
    (613) 241-6005 (FAX)
    rlittle@orezone.com
    or
    Orezone Resources Inc.
    Greg Bowes
    Vice President, Corporate Development
    (613) 241-3699 or Toll Free: (888) 673-0663
    (613) 241-6005 (FAX)
    gbowes@orezone.com
    www.orezone.com