Orezone Gold Corporation press release

OSI announces that award of Royal Australian Navy contract still pending; previous news release issued in error

2005-11-17

TSX - Toronto Stock Exchange · Gold · Silver · Canada

VANCOUVER, Nov. 17 /CNW/ - Offshore Systems International Ltd. (OSI) announced that its news release of November 15, 2005 respecting the award of a $1.2 million contract with the Royal Australian Navy was issued in error and that the contract remains pending. "While we are confident that the contract will come to closure, negotiations are ongoing," said Ken Kirkpatrick, President and CEO. Kirkpatrick noted that a draft of the news release announcing the contract was sent to Canada Newswire Services with directions that it not be disseminated unless and until OSI provided further instructions; however, due to a clerical error, the news release was disseminated by Canada Newswire Services without company knowledge or consent. Canada Newswire Services has accepted full responsibility for the error and has issued an apology to OSI, its shareholders and the Royal Australian Navy for any inconvenience it may have caused. For further information please contact Tracy Rawa, OSI Investor Relations Manager at (604) 904-4627 or 1-888-880-9797.

About OSI:

Offshore Systems International Ltd. (OSI) makes geographic-intelligence software, systems and data products mainly for large government and civilian customers. The company operates three business units: OSI Navigation Systems (moving-map display systems and software for naval surface ships and submarines); OSI Applications (network-based map and target display software and services for national defence and homeland security) and Mapcon Mapping (digital land mapping and marine charting services for civilian customers).

Forward-Looking Statements:

This news release contains items that constitute forward-looking statements within the meaning of securities laws including Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. These statements are made under the 'safe harbour' provisions of the Private Securities Litigation Reform Act of 1995 and, as such, involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Offshore Systems International can give no assurances that its representations will be achieved or that it will update them at any time in the future.