Preheat the oven to 375 degrees. Prepare a large baking sheet by lining with foil. Set aside. Melt butter over medium heat in a large skillet. Place sliced almonds on a plate in an even layer.
In a shallow bowl, whisk together milk, eggs, sugar {or honey}, vanilla extract, almond extract and orange zest.
Dunk each piece of bread briefly into the milk mixture, flipping over to coat both sides. Allow excess to drip off, then quickly put bread directly onto the plate of sliced almonds & press down lightly to adhere. Flip & repeat on the other side. Repeat the process with the remaining pieces of bread.
Place almond-coated bread in the skillet, and allow to cook until the almonds turn golden brown, about 3-4 minutes. Flip and cook other side. {The bread might still seem a little soggy at this point.}
Remove from skillet and place onto foil-lined baking sheet. Bake for about 5-7 minutes {flip half way through cooking time if desired} until the bread is golden brown and is no longer wet -- it should seem a bit more "set."
Remove from the oven and allow to cool slightly while you make the sauce.