Gold Fields, Orezone Resources Reviewing Essakane Gold Study

Orezone Resources Inc. and Gold Fields Ltd. announced on September 11 that a NI 43-101 compliant Definitive Feasibility Study for the Essakane project in Burkina Faso, West Africa, has been delivered to Orezone as part of an agreement which provides for Gold Fields earning a 60% interest in Essakane upon issuance of the DFS. The study was prepared by GRD Minproc of South Africa. Orezone and Gold Fields have 90 days to review the study prior to a final production decision being made. The permitting process is already under way in Burkina Faso and the companies believe all permits including a mining convention will be in place prior to making a production decision before the end of the year.

Capital costs have been estimated at $346.5 million (+/-15%) to build a 5.4- million-mt/y CIL plant that will produce an average of 292,000 oz of gold per year at an average cash cost of $298/oz over an 8.6-year mine life. The stripping ratio is 3.1:1. Power will be provided by a 32-MW HFO and diesel power station with an estimated cost of $0.16 per kwh.

Mineral resources for the Essakane Main Zone have been estimated and constrained within a $650/oz pit shell. The Probable Mineral Reserves associated with this mine design are 46.4 million mt with a diluted (mill feed) grade of 1.78 g/t. The mineral reserves are based on cutoff grades of 0.52 g/t for saprolite, 0.58 g/t for saprock, and 0.62 g/t for fresh ores. The average metallurgical recovery over the life of mine is estimated to be 94.6%.

Based on the economic parameters that were determined for the Essakane project, the surface mine yields average production of 292,000 oz/y for a total of 2,507,000 recovered ounces.

Gold Fields has approved a budget of $15 million to advance project development until a production decision by the end of the year. Final commissioning is targeted for late October 2009, with plant handover scheduled for mid- December 2009.

“The completion of a positive feasibility study for Essakane is a defining moment for our company and the country of Burkina Faso,” said Ron Little, CEO of Orezone. “Should a production decision be made, this will be the largest private capital investments in the history of the country.”