Orezone Gold Corporation has acquired Hecla Quebec Inc., including the Casa Berardi gold mine, for $352M upfront and deferred consideration, with contingent consideration of up to $241M. The transaction establishes Orezone as a diversified gold producer with immediate scale and increased production capacity.

Casa Berardi Mine, an established gold mine in Quebec, has produced over 3.2M ounces of gold to date. It contains proven and probable reserves of 1.3M ounces and significant exploration upside. The 2026 gold production guidance is 83,000 to 91,000 ounces, with a history of averaging 106,100 ounces annually.

The acquisition of Casa Berardi adds a cash-flow-generating asset to Orezone’s portfolio, enhancing its production capacity and financial metrics. The transaction, funded by a mix of cash, common shares, and contingent payments, positions Orezone for sustained growth and value creation.

The transaction financing includes a $100M gold stream agreement with Franco-Nevada, leveraging Orezone’s balance sheet and free cash flow from its Bomboré mine. The stream will deliver fixed gold deliveries over five years and enhance Orezone’s financial flexibility.

BMO Capital Markets is advising Orezone on the transaction, while Stikeman Elliott LLP is providing legal counsel. Advisors and legal counsel for Hecla include GenCap Mining Advisory and Cassels Brock & Blackwell LLP. The transaction is expected to close in the first quarter of 2026.

Orezone will host a conference call and webcast on January 26, 2026, to discuss the acquisition. The company’s President and CEO, Patrick Downey, and Vice President of Corporate Development and Investor Relations, Kevin MacKenzie, will be available to provide further details.

Rob Henderson, VP Technical Services at Orezone, has approved the scientific and technical information in the press release. Michael S Lindholm, C.P.G., of RESPEC Company LLC, has reviewed the technical information derived from the Casa Berardi Technical Report. Both individuals are Qualified Persons under NI 43-101.

Orezone Gold Corporation is a West African gold producer engaged in mining the Bomboré Gold Mine in Burkina Faso. The company forecasts production of 170,000 to 185,000 ounces in 2026 and is advancing stage 2 of the hard rock expansion.

The acquisition of Casa Berardi mine by Orezone Gold Corporation marks a significant milestone, positioning the company for growth and value creation. With a diversified portfolio, increased production capacity, and strong financial backing, Orezone is poised for long-term success in the gold mining industry.

Read more at GlobeNewswire: Orezone Gold Announces Transformational Expansion into