Vital Exploration Goal for Golden Ridge, NE Tasmania

• Whole gold manufacturing of 180,553 ounces : Whole gold manufacturing within the third quarter of 2024 was 180,553 ounces. On the Fekola Mine, manufacturing was decrease than anticipated as a result of delayed timing of mining high-grade ore and by decrease than anticipated gear productiveness and inclement climate all through the quarter that decreased the mined volumes of high-grade ore. Harm to an excavator and the next want for substitute gear impacted gear availability at Fekola, lowering tonnes mined within the first and second quarters of 2024, which affected the provision of higher-grade ore for the third quarter of 2024. Masbate and Otjikoto each continued to outperform expectations within the third quarter.
• Whole consolidated money working prices of   $1,061   per gold ounce produced : Whole consolidated money working prices ( see “Non-IFRS Measures” ) have been $1,061 per gold ounce produced in the course of the third quarter of 2024. Whole consolidated money working prices of $865 per gold ounce produced for the primary 9 months of 2024 are on the mid-point of the Firm’s annual steerage vary.
• Whole consolidated all-in sustaining prices of $1,650 per gold ounce offered : Whole consolidated all-in sustaining prices (see “Non-IFRS Measures” ) have been $1,650 per gold ounce offered for the third quarter of 2024. Whole consolidated all-in sustaining prices of $1,405 per gold ounce offered for the primary 9 months of 2024 are beneath the Firm’s revised annual steerage vary.
• Attributable web lack of $0.48 per share; adjusted attributable web earnings of $0.02 per share : Internet loss attributable to the shareholders of the Firm within the third quarter of 2024 of $634 million ($0.48 per share), predominantly because of a non-cash impairment cost on the Goose Venture on account of the beforehand introduced building capital will increase (see “Goose Venture Growth”). Adjusted web earnings (see “Non-IFRS Measures” ) attributable to the shareholders of the Firm was $29 million ($0.02 per share). Adjusted web earnings attributable to the shareholders of the Firm within the third quarter was negatively impacted by one-time tax audit accruals of $30 million associated to the settlement between the Firm and the State of Mali in reference to the continuing operation and governance of the Fekola Advanced.
• Working money movement earlier than working capital changes of $118 million : Money movement supplied by working actions earlier than working capital changes was $118 million within the third quarter of 2024.
• Sturdy monetary place and liquidity : At September 30, 2024, the Firm had money and money equivalents of $431 million and dealing capital (outlined as present belongings much less present liabilities) of $419 million.
• This fall 2024 dividend of $0.04 per share declared : On November 6, 2024, B2Gold’s Board of Administrators declared a money dividend for the fourth quarter of 2024 of $0.04 per widespread share (or upon cost $0.16 per share on an annualized foundation), payable on December 12, 2024, to shareholders of report as of December 2, 2024.
• Goose Venture building and growth stays on schedule for first gold pour in Q2 2025 : All deliberate building 12 months up to now in 2024 has been accomplished and undertaking building and growth continues to progress on monitor for first gold pour on the Goose Venture within the second quarter of 2025 adopted by a ramp as much as industrial manufacturing within the third quarter of 2025. The 2024 sealift was accomplished efficiently on September 30, 2024, with ten ships and one barge having unloaded 123,000 cubic meters (“m ³ “) of dry cargo, greater than 84 million liters of arctic grade diesel gasoline and 58 extra vehicles for the 2025 Winter Ice Street (“WIR”) marketing campaign to the Marine Laydown Space (“MLA”) from international areas.
• Memorandum of Understanding with the State of Mali referring to the Fekola Advanced: On September 11, 2024, the Firm introduced that it had entered right into a Memorandum of Understanding (the “MOU Settlement”) with the State of Mali (the “State”) in reference to the continuing operation and governance of the Fekola Advanced, together with the event of each the underground undertaking on the Fekola Mine (owned 80% by B2Gold and 20% by the State of Mali) and Fekola Regional. Below the MOU Settlement, the State agreed to expedite the issuance of exploitation permits for Fekola Regional and the approval of the exploitation section for Fekola underground. Upon issuance of the exploitation allow for Fekola Regional, mining operations will start with preliminary gold manufacturing anticipated to begin in early 2025, with the potential to generate roughly 80,000 to 100,000 ounces of extra gold manufacturing per 12 months from Fekola Regional sources by way of the trucking of open pit ore to the Fekola mill. Preliminary gold manufacturing from Fekola underground is anticipated to begin in mid-2025.

Third Quarter 2024 Outcomes

^{(1) Attributable to the shareholders of the Firm.
(2) Non-IFRS measure. For an outline of how these measures are calculated and a reconciliation of those measures to probably the most straight comparable measures specified, outlined or decided below IFRS and introduced within the Firm’s monetary statements, consult with “Non-IFRS Measures”.}

Liquidity and Capital Assets

B2Gold continues to keep up a robust monetary place and liquidity. At September 30, 2024, the Firm had money and money equivalents of $431 million (December 31, 2023 – $307 million) and dealing capital (outlined as present belongings much less present liabilities) of $419 million (December 31, 2023 – $397 million). In the course of the quarter ended September 30, 2024, the Firm drew down $200 million on the Firm’s $700 million revolving credit score facility, leaving $500 million remaining out there for future draw downs.

Fourth Quarter 2024 Dividend

On November 6, 2024, B2Gold’s Board of Administrators declared a money dividend for the fourth quarter of 2024 (the “This fall 2024 Dividend”) of $0.04 per widespread share (or upon cost $0.16 per share on an annualized foundation), payable on December 12, 2024, to shareholders of report as of December 2, 2024.

In 2023, the Firm applied a Dividend Reinvestment Plan (“DRIP”). For the needs of the This fall 2024 Dividend, the Firm is happy to announce {that a} low cost of three% might be utilized to calculate the Common Market Value (as outlined within the DRIP) of its widespread shares issued from treasury. Nevertheless, the Firm could, every now and then, in its discretion, change or get rid of any relevant low cost, which might be publicly introduced, all in accordance with the phrases and circumstances of the DRIP. Participation within the DRIP is optionally available. So as to take part within the DRIP in time for the This fall 2024 Dividend, registered shareholders should ship a correctly accomplished enrollment type to Computershare Belief Firm of Canada by no later than 4:00 p.m. (Toronto time) on December 5, 2024. Useful shareholders who want to take part within the DRIP ought to contact their monetary advisor, dealer, funding seller, financial institution, monetary establishment, or different middleman by way of which they maintain widespread shares nicely prematurely of the above date for directions on easy methods to enroll within the DRIP.

This dividend is designated as an “eligible dividend” for the needs of the Earnings Tax Act (Canada). Dividends paid by B2Gold to shareholders outdoors Canada (non-resident traders) might be topic to Canadian non-resident withholding taxes.

The declaration and cost of future dividends and the quantity of any such dividends might be topic to the dedication of the Board, in its sole and absolute discretion, considering, amongst different issues, financial circumstances, enterprise efficiency, monetary situation, progress plans, anticipated capital necessities, compliance with B2Gold’s constating paperwork, all relevant legal guidelines, together with the principles and insurance policies of any relevant inventory change, in addition to any contractual restrictions on such dividends, together with any agreements entered into with lenders to the Firm, and every other elements that the Board deems applicable on the related time. There will be no assurance that any dividends might be paid on the supposed charge or in any respect sooner or later.

For extra info relating to the DRIP and enrollment within the DRIP, please consult with the Firm’s web site at https://www.b2gold.com/traders/stock_info/ .

This information launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase securities in any jurisdiction nor will there be any sale of those securities in any province, state or jurisdiction by which such provide, solicitation or sale can be illegal previous to registration or qualification below the securities legal guidelines of any such province, state or jurisdiction.

The Firm has filed a registration assertion referring to the DRIP with the U.S. Securities and Alternate Fee that could be obtained below the Firm’s profile on the U.S. Securities and Alternate Fee’s web site at http://www.sec.gov/EDGAR or by contacting the Firm utilizing the contact info on the finish of this information launch.

Operations

Fekola Advanced – Mali

^{(1) Non-IFRS measure. For an outline of how these measures are calculated and a reconciliation of those measures to probably the most straight comparable measures specified, outlined or decided below IFRS and introduced within the Firm’s monetary statements, consult with “Non-IFRS Measures”.}

The Fekola Mine in Mali (owned 80% by the Firm and 20% by the State of Mali) produced 78,207 ounces of gold within the third quarter of 2024, beneath expectations as a result of delayed timing of mining of high-grade ore leading to much less high-grade ore processed in the course of the quarter. For the third quarter of 2024, mill feed grade was 1.07 grams per tonne (“g/t”), mill throughput was 2.47 million tonnes, and gold restoration averaged 92.7%. Decrease than anticipated gear productiveness and inclement climate all through the quarter impacted the mined volumes of high-grade ore in the course of the third quarter of 2024. Harm to an excavator and the next want for substitute gear impacted gear availability for the primary 9 months of 2024, lowering tonnes mined in the course of the first and second quarters of 2024, which affected the provision of higher-grade ore of Section 7 of the Fekola pit leading to much less high-grade ore processed in the course of the third quarter of 2024. The broken machine has been changed and the brand new unit operated for the total third quarter of 2024. The discount in mining charges skilled within the first 9 months of 2024 is anticipated to proceed to affect the provision of higher-grade ore from Section 7 of the Fekola pit in the course of the fourth quarter of 2024 leading to an anticipated lower in Fekola manufacturing as in comparison with preliminary manufacturing estimates. Mining and processing of those ounces is now anticipated within the first quarter of 2025. Regardless of quick time period variations, total, ore volumes and grades proceed to reconcile comparatively nicely with modelled values.

The Fekola Mine’s money working prices (see “Non-IFRS Measures” ) for the third quarter of 2024 have been $1,434 per gold ounce produced ($1,393 per gold ounce offered). Money working prices per gold ounce produced for the third quarter of 2024 have been larger than anticipated on account of decrease than anticipated gold manufacturing in the course of the third quarter, partially offset by decrease gasoline prices, larger mill throughput, larger gold restoration and decrease mining prices because of decrease than anticipated mined tonnage.

All-in sustaining prices (see “Non-IFRS Measures” ) for the third quarter of 2024 have been $2,287 per gold ounce offered. All-in sustaining prices have been larger than anticipated on account of larger than anticipated manufacturing prices per gold ounce offered, decrease than anticipated gold ounces offered, larger than anticipated sustaining capital expenditures as a result of timing of expenditures and better gold royalties ensuing from a better than anticipated common realized gold value.

Capital expenditures within the third quarter of 2024 totalled $64 million primarily consisting of $12 million for deferred stripping, $10 million for cellular gear purchases and rebuilds, $7 million for the development of a brand new tailings storage facility, $20 million for Fekola underground growth and $11 million for photo voltaic plant enlargement. All photo voltaic panels, inverters, transformers and the monitoring system have been put in for the photo voltaic plant enlargement and the photo voltaic discipline was energized on September 29, 2024. Commissioning has continued with last completion of the photo voltaic plant enlargement anticipated by the top of November 2024.

On account of the delay in accessing higher-grade ounces from Section 7 of the Fekola pit, manufacturing from the Fekola Advanced is anticipated to be in the direction of the low finish of Fekola’s revised steerage vary of between 420,000 and 450,000 ounces of gold in 2024. Money working prices and all-in sustaining prices are anticipated to be in the direction of the higher ends of their respective revised steerage ranges of between $870 and $930 per ounce and $1,510 and $1,570 per ounce.

Fekola Regional Growth

The Fekola Advanced is comprised of the Fekola Mine (Medinandi allow internet hosting the Fekola and Cardinal pits and Fekola underground) and Fekola Regional (Anaconda Space (Bantako, Menankoto, and Bakolobi permits) and the Dandoko allow).

The event of Fekola Regional is anticipated to reveal optimistic economics by way of the enhancement of the general manufacturing profile and the extension of mine lifetime of the Fekola Advanced. Primarily based on B2Gold’s preliminary planning, Fekola Regional might present selective higher-grade saprolite materials (common annual grade of as much as 2.2 g/t gold) to be trucked roughly 20 kilometers (“km”) and fed into the Fekola mill at a charge of as much as 1.5 million tonnes every year.

On September 11, 2024, the Firm introduced the MOU Settlement with the State in reference to the continuing operation and governance of the Fekola Advanced, together with the event of each the underground undertaking on the Fekola Mine and Fekola Regional. Below the MOU Settlement, the State agreed to expedite the issuance of exploitation permits for Fekola Regional and the approval of the exploitation section of Fekola underground. Upon issuance of the exploitation allow for Fekola Regional, mining operations will start with preliminary gold manufacturing anticipated to begin in early 2025, with the potential to generate roughly 80,000 to 100,000 ounces of extra gold manufacturing per 12 months from Fekola Regional sources by way of the trucking of open pit ore to the Fekola mill. Preliminary gold manufacturing from Fekola underground is anticipated to begin in mid-2025.

Masbate Mine – The Philippines

^{(1) Non-IFRS measure. For an outline of how these measures are calculated and a reconciliation of those measures to probably the most straight comparable measures specified, outlined or decided below IFRS and introduced within the Firm’s monetary statements, consult with “Non-IFRS Measures”.}

The Masbate Mine within the Philippines continued its robust efficiency with third quarter of 2024 gold manufacturing of fifty,215 ounces, above expectations because of larger mill throughput and better than anticipated mill feed grade. For the third quarter of 2024, mill feed grade was 0.98 g/t, mill throughput was 2.20 million tonnes, and gold restoration averaged 72.4%, decrease than anticipated. Decrease gold restoration within the third quarter was a results of mining extra decrease restoration high-grade sulphide ore in the course of the third quarter. Precise gold restoration for the third quarter of 2024 remained in keeping with modeled restoration values for the ore mined.

The Masbate Mine’s money working prices (see “Non-IFRS Measures” ) for the third quarter of 2024 have been $811 per gold ounce produced ($890 per gold ounce offered). Money working prices per gold ounce produced for the third quarter of 2024 have been considerably decrease than anticipated on account of larger gold manufacturing, decrease than anticipated mining and processing prices, larger mill productiveness and decrease gasoline prices.

All-in sustaining prices (see “Non-IFRS Measures” ) for the third quarter of 2024 have been $1,167 per ounce offered. All-in sustaining prices for the third quarter of 2024 have been considerably decrease than anticipated on account of decrease than anticipated manufacturing prices per gold ounce offered, larger than anticipated gold ounces offered and decrease than anticipated sustaining capital expenditures.

Capital expenditures within the third quarter of 2024 totalled $5 million, primarily consisting of $2 million for cellular gear purchases and rebuilds and $1 million for enlargement of the present tailings storage facility.

The Masbate Mine is anticipated to supply between 175,000 and 195,000 ounces of gold in 2024. Money working prices and all-in sustaining prices are anticipated to be at or beneath the low finish of their respective revised steerage ranges of between $910 and $970 per ounce and $1,260 and $1,320 per ounce.

Otjikoto Mine – Namibia

^{(1) Non-IFRS measure. For an outline of how these measures are calculated and a reconciliation of those measures to probably the most straight comparable measures specified, outlined or decided below IFRS and introduced within the Firm’s monetary statements, consult with “Non-IFRS Measures”.}

The Otjikoto Mine in Namibia, by which the Firm holds a 90% curiosity, continued to outperform in the course of the third quarter of 2024, producing 52,131 ounces of gold, above expectations on account of larger than anticipated mill feed grade and better than anticipated mill throughput. For the third quarter of 2024, mill feed grade was 1.88 g/t, mill throughput was 0.87 million tonnes, and gold restoration averaged 98.8%. Ore manufacturing from the Wolfshag underground mine for the third quarter of 2024 averaged over 1,800 tonnes per day at a mean grade of three.64 g/t gold.

The Otjikoto Mine’s money working prices (see “Non-IFRS Measures” ) for the third quarter of 2024 have been $740 per gold ounce produced ($742 per ounce gold offered). Money working prices per gold ounce produced for the third quarter of 2024 have been decrease than anticipated because of larger than anticipated gold manufacturing within the third quarter of 2024.

All-in sustaining prices (see “Non-IFRS Measures” ) for the third quarter of 2024 have been $896 per gold ounce offered. All-in sustaining prices for the third quarter of 2024 have been decrease than anticipated on account of decrease than anticipated money working prices and better gold ounces offered, partially offset by larger gold royalties because of a better than anticipated common realized gold value.

Capital expenditures for the third quarter of 2024 totalled $1 million for Wolfshag underground mine growth.

The Otjikoto Mine is anticipated to supply between 185,000 and 205,000 ounces of gold in 2024 at money working prices of between $685 and $745 per ounce and all-in sustaining prices at or beneath the decrease finish of its steerage vary of between $960 and $1,020 per ounce.

Goose Venture Growth

The Again River Gold District consists of 5 mineral claims blocks alongside an 80 km belt. Development is underway on the most superior undertaking within the district, the Goose Venture, and has been de-risked with important infrastructure presently in place.

B2Gold acknowledges that respect and collaboration with the Kitikmeot Inuit Affiliation (“KIA”) is central to the license to function within the Again River Gold District and can proceed to prioritize growing the undertaking in a fashion that acknowledges Inuit priorities, addresses considerations, and brings long-term socio-economic advantages to the Kitikmeot Area. B2Gold seems ahead to persevering with to construct on its robust collaboration with the KIA and Kitikmeot Communities.

As introduced in Might 2024, growth of the open pit and underground was barely delayed because of gear availability (commissioning and availability of the open pit gear), hostile climate circumstances and the prioritization of crucial path building actions. An extra three months of mining was added to the schedule to make sure that the Umwelt open pit, underground growth, and crown pillar actions align and that there’s adequate tailings storage capability within the Echo open pit. With the schedule change, the mill is anticipated to begin moist commissioning within the second quarter of 2025 with ramp as much as full manufacturing within the third quarter of 2025. The Firm continues to estimate that gold manufacturing in calendar 12 months 2025 might be between 120,000 ounces and 150,000 ounces. The up to date manufacturing profile has resulted within the Firm now estimating that common annual gold manufacturing for the six 12 months interval from 2026 to 2031 will improve to be in extra of 310,000 ounces per 12 months. The Firm stays on monitor to finish an up to date Goose Venture lifetime of mine plan by the top of the primary quarter of 2025.

B2Gold efficiently accomplished the 2024 WIR marketing campaign within the second quarter of 2024 and delivered all crucial supplies from the MLA to finish the development of the Goose Venture. All deliberate building 12 months up to now in 2024 has been accomplished and undertaking building and growth continues to progress on monitor for first gold pour on the Goose Venture within the second quarter of 2025 adopted by ramp as much as industrial manufacturing within the third quarter of 2025. The 2024 sealift was accomplished efficiently on September 30, 2024, with ten ships and one barge having unloaded 123,000 m ³ of dry cargo, greater than 84 million liters of arctic grade diesel gasoline and 58 extra vehicles for the 2025 WIR marketing campaign to the MLA from international areas. Sealift offloading efficiency considerably elevated all through the 2024 sealift because of a newly constructed barge ramp. Present actions on the MLA now embrace continued upkeep and preparation of the WIR building and haulage fleet and staging all supplies for cargo on the 2025 WIR to the Goose Venture web site.

Growth of the open pit and underground stay the Firm’s main focus to make sure that enough materials is on the market for mill startup and that the Echo pit is on the market for tailings placement. Mining of the Echo pit is assembly manufacturing targets and is anticipated to be able to obtain tailings when the mill begins. The underground mine stays on schedule for graduation of manufacturing by the top of the second quarter of 2025.

Within the third quarter and first 9 months of 2024, the Firm incurred money expenditures of $121 million (C$165 million) and $366 million (C$498 million), respectively, for the Goose Venture on building and mine growth actions and $110 million (C$150 million) and $155 million (C$211 million), respectively, on provides stock.

As introduced on September 12, 2024, the full Goose Venture building, mine growth, and sustaining capital money expenditures estimate (the “Whole Goose Venture Development and Mine Growth Price”) earlier than first gold manufacturing estimate is C$1,540 million, a C$290 million (or 23%) improve from the earlier estimate from January 2024. Roughly 52% (or C$150 million) of the rise will be attributed to the one quarter delay in first gold manufacturing beforehand disclosed, mixed with the acceleration of capital gadgets that have been beforehand anticipated to happen after first gold manufacturing. The acceleration of sure capital gadgets is anticipated to make the Goose Venture a extra dependable and de-risked operation upon mill startup. The accelerated capital gadgets embrace accelerated purchases of mining gear versus the earlier estimate to make sure continued progress in mining charges by way of 2025, the constructing of an lodging advanced on the MLA which is able to cut back ongoing annual prices related to operating the WIR, the development of crucial infrastructure on the Goose Venture web site, inclusive of warehousing, upkeep, mine dry facility, camp facility enlargement, and the design acceleration of a reverse osmosis plant to optimize water administration and decrease ongoing working prices. Roughly 24% (or C$70 million) of the rise within the Whole Goose Venture Development and Mine Growth Price will be attributed to the elevated value of the logistics of delivery supplies to the Goose Venture web site.

On account of the beforehand introduced will increase to the Whole Goose Venture Development and Mine Growth Price earlier than first gold manufacturing estimate, the Firm incurred a non-cash impairment of $661 million on the Goose Venture carrying worth within the third quarter of 2024.

Gramalote Venture Growth

On June 18, 2024, the Firm introduced the outcomes of a optimistic Preliminary Financial Evaluation(” PEA”) on its 100% owned Gramalote Venture positioned within the Division of Antioquia, Colombia. The PEA outlines a big manufacturing profile with common annual gold manufacturing of 185,000 ounces over a 12.5 12 months undertaking life with a low-cost construction and favorable metallurgical traits. Moreover, the PEA outlines robust undertaking economics with an after-tax NPV _5% of $778 million and an after-tax inside charge of return of 20.6%, with a undertaking payback on pre-production capital of three.1 years.

The estimated pre-production capital value for the undertaking is $807 million (together with roughly $93 million for mining gear and $63 million for contingency). A sturdy quantity of historic drilling and engineering research have been accomplished on the Gramalote Venture, which considerably de-risks future undertaking growth. Primarily based on the optimistic outcomes from the PEA, B2Gold believes that the Gramalote Venture has the potential to develop into a medium-scale, low-cost open pit gold mine.

B2Gold has commenced feasibility work with the objective of finishing a feasibility examine by mid-2025 and a $10 million price range has been authorised by the Board. Because of the work accomplished for earlier research, the work remaining to finalize a feasibility examine for the up to date medium-scale undertaking just isn’t anticipated to be intensive. The principle work packages for the feasibility examine embrace geotechnical and environmental web site investigations for the processing plant and waste dump footprints, in addition to capital and working value estimates.

The Gramalote Venture will proceed to advance resettlement packages, set up coexistence packages for small miners, work on well being, security and environmental initiatives and proceed to work with the federal government and native communities on social packages.

Because of the desired modifications to the processing plant and infrastructure areas, a Modified Atmosphere Impression Research is required. B2Gold has commenced work on the modifications to the Atmosphere Impression Research and anticipate it to be accomplished and submitted shortly following the completion of the feasibility examine. If the ultimate economics of the feasibility examine are optimistic and B2Gold makes the choice to develop the Gramalote Venture as an open pit gold mine, B2Gold would make the most of its confirmed inside mine building crew to construct the mine and mill amenities.

Outlook

Whole gold manufacturing for 2024 is forecast to be in the direction of the low finish of the Firm’s steerage vary of between 800,000 and 870,000 ounces, together with 20,000 ounces of attributable manufacturing from Calibre Mining Corp (“Calibre”).

Gold manufacturing in 2025 is anticipated to extend considerably relative to 2024 on account of the scheduled mining and processing of higher-grade ore from the Fekola and Cardinal pits made accessible by the significant stripping marketing campaign that has been undertaken all through 2024, the anticipated full 12 months of contribution from Fekola Regional, which is anticipated to contribute between 80,000 and 100,000 ounces of extra manufacturing, and graduation of mining the higher-grade Fekola underground (topic to receipt of crucial permits for Fekola Regional and Fekola underground).

Upon completion of building actions on the Goose Venture, the mine is anticipated to begin gold manufacturing within the second quarter of 2025 and contribute between 120,000 and 150,000 ounces of gold in calendar 12 months 2025. Over the primary six full calendar years of operation from 2026 to 2031, the common annual gold manufacturing for the Goose Venture is estimated to be in extra of 310,000 ounces of gold per 12 months.

The optimistic PEA outcomes on the Firm’s 100% owned Gramalote Venture, positioned within the Division of Antioquia, Colombia, outlines a big manufacturing profile with common annual gold manufacturing of 234,000 ounces per 12 months for the primary 5 years of manufacturing, and robust undertaking economics over a 12.5 12 months undertaking life. In consequence, B2Gold has commenced feasibility work with the objective of finishing a feasibility examine by mid-2025 and a $10 million price range has been authorised by the Board.

Following the discharge of an preliminary Inferred Mineral Useful resource Estimate for the Springbok Zone, the southernmost shoot of the not too long ago found Antelope deposit, positioned roughly three km south of the Otjikoto Section 5 open pit on the Otjikoto Mine in Namibia, within the second quarter of 2024, the Firm has commenced a PEA which is anticipated to be accomplished within the first half of 2025. Topic to receipt of a optimistic PEA and allow, mining of the Springbok Zone, coupled with the exploration potential of the better Antelope deposit, might start to contribute to gold manufacturing at Otjikoto in 2026. The Antelope deposit has the potential to complement the processing of low-grade stockpiles on the Otjikoto Mine by way of 2031, with the objective of accelerating gold manufacturing ranges to over 100,000 ounces per 12 months from 2026 by way of 2031.

The Firm’s ongoing technique is to proceed to maximise worthwhile manufacturing from its current mines, keep a robust monetary place, understand the numerous potential improve in gold manufacturing from the Firm’s current growth initiatives, proceed exploration packages throughout the Firm’s strong land packages, consider new exploration, growth and manufacturing alternatives and proceed to return capital to shareholders.

Third Quarter 2024 Monetary Outcomes – Convention Name Particulars

B2Gold executives will host a convention name to debate the outcomes on Thursday, November 7, 2024, at 8:00 am PT / 11:00 am ET.

Members could register for the convention name right here: registration hyperlink . Upon registering, individuals will obtain a calendar invitation by electronic mail with dial in particulars and a singular PIN. This may permit individuals to bypass the operator queue and join on to the convention. Registration will stay open till the top of the convention name. Members can also dial in utilizing the numbers beneath:

• Toll-free in U.S. and Canada: +1 (844) 763-8274
• All different callers: +1 (647) 484-8814

The convention name might be out there for playback for 2 weeks by dialing toll-free within the U.S. and Canada: +1 (855) 669-9658, replay entry code 4078435. All different callers: +1 (412) 317-0088, replay entry code 4078435.

About B2Gold

B2Gold is a low-cost worldwide senior gold producer headquartered in Vancouver, Canada. Based in 2007, at the moment, B2Gold has working gold mines in Mali, Namibia and the Philippines, the Goose Venture below building in northern Canada and quite a few growth and exploration initiatives in varied nations together with Mali, Colombia and Finland. B2Gold forecasts whole consolidated gold manufacturing of between 800,000 and 870,000 ounces in 2024.

Certified Individuals

Invoice Lytle, Senior Vice President and Chief Working Officer, a certified particular person below NI 43-101, has authorised the scientific and technical info associated to operations issues contained on this information launch.

Andrew Brown, P. Geo., Vice President, Exploration, a certified particular person below NI 43-101, has authorised the scientific and technical info associated to exploration and mineral useful resource issues contained on this information launch.

ON BEHALF OF B2GOLD CORP.

“Clive T. Johnson”
President and Chief Govt Officer

Supply: B2Gold Corp.

The Toronto Inventory Alternate and NYSE American LLC neither approve nor disapprove the knowledge contained on this information launch.

Manufacturing outcomes and manufacturing steerage introduced on this information launch replicate whole manufacturing on the mines B2Gold operates on a 100% undertaking foundation. Please see our Annual Info Kind dated March 14, 2024 for a dialogue of our possession curiosity within the mines B2Gold operates.

This information launch consists of sure “forward-looking info” and “forward-looking statements” (collectively forward-looking statements”) throughout the that means of relevant Canadian and United States securities laws, together with: projections; outlook; steerage; forecasts; estimates; and different statements relating to future or estimated monetary and operational efficiency, gold manufacturing and gross sales, revenues and money flows, and capital prices (sustaining and non-sustaining) and working prices, together with projected money working prices and AISC, and budgets on a consolidated and mine by mine foundation; future or estimated mine life, steel value assumptions, ore grades or sources, gold restoration charges, stripping ratios, throughput, ore processing; statements relating to anticipated exploration, drilling, growth, building, allowing and different actions or achievements of B2Gold; and together with, with out limitation: remaining nicely positioned for continued robust operational and monetary efficiency in 2024; projected gold manufacturing, money working prices and AISC on a consolidated and mine by mine foundation in 2024; whole consolidated gold manufacturing of between 800,000 and 870,000 ounces (together with 20,000 attributable ounces from Calibre) in 2024, with money working prices of between $835 and $895 per ounce and AISC of between $1,420 and $1,480 per ounce; B2Gold’s continued prioritization of growing the Goose Venture in a fashion that acknowledges Indigenous enter and considerations and brings long-term socio-economic advantages to the realm; the Goose Venture capital value being roughly C$1,190 million and the web value of open pit and underground growth, deferred stripping, and sustaining capital expenditures to be incurred previous to first gold manufacturing being roughly C$350 million and the price for reagents and different working capital gadgets being C$330 million; the Goose Venture producing roughly 310,000 ounces of gold per 12 months for the primary six years; the potential for first gold manufacturing within the second quarter of 2025 from the Goose Venture and the estimates of such manufacturing; trucking of selective higher-grade saprolite materials from the Anaconda Space to the Fekola mill having the potential to generate roughly 80,000 to 100,000 ounces of extra gold manufacturing per 12 months from Fekola Regional sources; the receipt of the exploitation allow for Fekola Regional and Fekola Regional manufacturing anticipated to begin initially of 2025; the receipt of a allow for Fekola underground and Fekola underground commencing operation in mid-2025; the potential for the Antelope deposit to be developed as an underground operation and contribute gold in the course of the low-grade stockpile processing in 2026 by way of 2031; the outcomes and estimates within the Gramalote PEA, together with the undertaking life, common annual gold manufacturing, processing charge, capital value, web current worth, after-tax web money movement, after-tax inside charge of return and payback; the timing and outcomes of a feasibility examine on the Gramalote Venture; and the potential to develop the Gramalote Venture as an open pit gold mine. All statements on this information launch that handle occasions or developments that we anticipate to happen sooner or later are forward-looking statements. Ahead-looking statements are statements that aren’t historic information and are usually, though not at all times, recognized by phrases equivalent to “anticipate”, “plan”, “anticipate”, “undertaking”, “goal”, “potential”, “schedule”, “forecast”, “price range”, “estimate”, “intend” or “imagine” and related expressions or their destructive connotations, or that occasions or circumstances “will”, “would”, “could”, “might”, “ought to” or “may” happen. All such forward-looking statements are based mostly on the opinions and estimates of administration as of the date such statements are made.

Ahead-looking statements essentially contain assumptions, dangers and uncertainties, sure of that are past B2Gold’s management, together with dangers related to or associated to: the volatility of steel costs and B2Gold’s widespread shares; adjustments in tax legal guidelines; the risks inherent in exploration, growth and mining actions; the uncertainty of reserve and useful resource estimates; not attaining manufacturing, value or different estimates; precise manufacturing, growth plans and prices differing materially from the estimates in B2Gold’s feasibility and different research; the power to acquire and keep any crucial permits, consents or authorizations required for mining actions; environmental rules or hazards and compliance with advanced rules related to mining actions; local weather change and local weather change rules; the power to switch mineral reserves and determine acquisition alternatives; the unknown liabilities of corporations acquired by B2Gold; the power to efficiently combine new acquisitions; fluctuations in change charges; the provision of financing; financing and debt actions, together with potential restrictions imposed on B2Gold’s operations consequently thereof and the power to generate adequate money flows; operations in overseas and growing nations and the compliance with overseas legal guidelines, together with these related to operations in Mali, Namibia, the Philippines and Colombia and together with dangers associated to adjustments in overseas legal guidelines and altering insurance policies associated to mining and native possession necessities or useful resource nationalization usually; distant operations and the provision of enough infrastructure; fluctuations in value and availability of vitality and different inputs crucial for mining operations; shortages or value will increase in crucial gear, provides and labour; regulatory, political and nation dangers, together with native instability or acts of terrorism and the results thereof; the reliance upon contractors, third events and three way partnership companions; the shortage of sole decision-making authority associated to Filminera Assets Company, which owns the Masbate Venture; challenges to title or floor rights; the dependence on key personnel and the power to draw and retain expert personnel; the danger of an uninsurable or uninsured loss; hostile local weather and climate circumstances; litigation danger; competitors with different mining corporations; neighborhood help for B2Gold’s operations, together with dangers associated to strikes and the halting of such operations every now and then; conflicts with small scale miners; failures of knowledge programs or info safety threats; the power to keep up enough inside controls over monetary reporting as required by legislation, together with Part 404 of the Sarbanes-Oxley Act; compliance with anti-corruption legal guidelines, and sanctions or different related measures; social media and B2Gold’s status; dangers affecting Calibre having an affect on the worth of the Firm’s funding in Calibre, and potential dilution of our fairness curiosity in Calibre; in addition to different elements recognized and as described in additional element below the heading “Danger Elements” in B2Gold’s most up-to-date Annual Info Kind, B2Gold’s present Kind 40-F Annual Report and B2Gold’s different filings with Canadian securities regulators and the U.S. Securities and Alternate Fee (the “SEC”), which can be considered at www.sedar.com and www.sec.gov, respectively (the “Web sites”). The checklist just isn’t exhaustive of the elements which will have an effect on B2Gold’s forward-looking statements.

B2Gold’s forward-looking statements are based mostly on the relevant assumptions and elements administration considers cheap as of the date hereof, based mostly on the knowledge out there to administration at such time. These assumptions and elements embrace, however are usually not restricted to, assumptions and elements associated to B2Gold’s means to hold on present and future operations, together with: growth and exploration actions; the timing, extent, period and financial viability of such operations, together with any mineral sources or reserves recognized thereby; the accuracy and reliability of estimates, projections, forecasts, research and assessments; B2Gold’s means to satisfy or obtain estimates, projections and forecasts; the provision and value of inputs; the value and marketplace for outputs, together with gold; overseas change charges; taxation ranges; the well timed receipt of crucial approvals or permits; the power to satisfy present and future obligations; the power to acquire well timed financing on cheap phrases when required; the present and future social, financial and political circumstances; and different assumptions and elements usually related to the mining business.

B2Gold’s forward-looking statements are based mostly on the opinions and estimates of administration and replicate their present expectations relating to future occasions and working efficiency and converse solely as of the date hereof. B2Gold doesn’t assume any obligation to replace forward-looking statements if circumstances or administration’s beliefs, expectations or opinions ought to change apart from as required by relevant legislation. There will be no assurance that forward-looking statements will show to be correct, and precise outcomes, efficiency or achievements might differ materially from these expressed in, or implied by, these forward-looking statements. Accordingly, no assurance will be provided that any occasions anticipated by the forward-looking statements will transpire or happen, or if any of them do, what advantages or liabilities B2Gold will derive therefrom. For the explanations set forth above, undue reliance shouldn’t be positioned on forward-looking statements.

Non-IFRS Measures
This information launch consists of sure phrases or efficiency measures generally used within the mining business that aren’t outlined below Worldwide Monetary Reporting Requirements (“IFRS”), together with “money working prices” and “all-in sustaining prices” (or “AISC”). Non-IFRS measures do not need any standardized that means prescribed below IFRS, and subsequently they is probably not akin to related measures employed by different corporations. The info introduced is meant to supply extra info and shouldn’t be thought-about in isolation or as an alternative choice to measures of efficiency ready in accordance with IFRS and ought to be learn at the side of B2Gold’s consolidated monetary statements. Readers ought to consult with B2Gold’s Administration Dialogue and Evaluation, out there on the Web sites, below the heading “Non-IFRS Measures” for a extra detailed dialogue of how B2Gold calculates sure of such measures and a reconciliation of sure measures to IFRS phrases.

Cautionary Assertion Relating to Mineral Reserve and Useful resource Estimates
The disclosure on this information launch was ready in accordance with Canadian Nationwide Instrument 43-101, which differs considerably from the necessities of america Securities and Alternate Fee (“SEC”), and useful resource and reserve info contained or referenced on this information launch is probably not akin to related info disclosed by public corporations topic to the technical disclosure necessities of the SEC. Historic outcomes or feasibility fashions introduced herein are usually not ensures or expectations of future efficiency.

NON-IFRS MEASURES

Money working prices per gold ounce offered and whole money prices per gold ounce offered

‘‘Money working prices per gold ounce” and “whole money prices per gold ounce” are widespread monetary efficiency measures within the gold mining business however, as non-IFRS measures, they don’t have a standardized that means below IFRS and subsequently is probably not akin to related measures introduced by different issuers. Administration believes that, along with typical measures ready in accordance with IFRS, sure traders use this info to guage our efficiency and skill to generate money movement. Accordingly, these measures are supposed to supply extra info and shouldn’t be thought-about in isolation or as an alternative choice to measures of efficiency ready in accordance with IFRS. The measures, together with gross sales, are thought-about to be a key indicator of the Firm’s means to generate earnings and money movement from its mining operations.

Money value figures are calculated on a gross sales foundation in accordance with a normal developed by The Gold Institute, which was a worldwide affiliation of suppliers of gold and gold merchandise and included main North American gold producers. The Gold Institute ceased operations in 2002, however the usual is the accepted commonplace of reporting money value of manufacturing in North America. Adoption of the usual is voluntary and the price measures introduced is probably not akin to different equally titled measures of different corporations. Different corporations could calculate these measures in another way. Money working prices and whole money prices per gold ounce offered are derived from quantities included within the assertion of operations and embrace mine web site working prices equivalent to mining, processing, smelting, refining, transportation prices, royalties and manufacturing taxes, much less silver by-product credit. The tables beneath present a reconciliation of money working prices per gold ounce offered and whole money prices per gold ounce offered to manufacturing prices as extracted from the unaudited condensed interim consolidated monetary statements on a consolidated and a mine-by-mine foundation ({dollars} in 1000’s):

Money working prices per gold ounce produced

Along with money working prices on a per gold ounce offered foundation, the Firm additionally presents money working prices on a per gold ounce produced foundation. Money working prices per gold ounce produced is derived from quantities included within the assertion of operations and embrace mine web site working prices equivalent to mining, processing, smelting, refining, transportation prices, much less silver by-product credit. The tables beneath present a reconciliation of money working prices per gold ounce produced to manufacturing prices as extracted from the unaudited condensed interim consolidated monetary statements on a consolidated and a mine-by-mine foundation ({dollars} in 1000’s):

All-in sustaining prices per gold ounce

In June 2013, the World Gold Council, a non-regulatory affiliation of the world’s main gold mining corporations established to advertise using gold to business, shoppers and traders, supplied steerage for the calculation of the measure “all-in sustaining prices per gold ounce”, however as a non-IFRS measure, it doesn’t have a standardized that means below IFRS and subsequently is probably not akin to related measures introduced by different issuers. The unique World Gold Council commonplace turned efficient January 1, 2014 with additional updates introduced on November 16, 2018 which have been efficient beginning January 1, 2019.

Administration believes that the all-in sustaining prices per gold ounce measure gives extra perception into the prices of manufacturing gold by capturing the entire expenditures required for the invention, growth and sustaining of gold manufacturing and permits the Firm to evaluate its means to help capital expenditures to maintain future manufacturing from the technology of working money flows. Administration believes that, along with typical measures ready in accordance with IFRS, sure traders use this info to guage the Firm’s efficiency and skill to generate money movement. Accordingly, it’s supposed to supply extra info and shouldn’t be thought-about in isolation or as an alternative choice to measures of efficiency ready in accordance with IFRS. Adoption of the usual is voluntary and the price measures introduced is probably not akin to different equally titled measures of different corporations. The Firm has utilized the ideas of the World Gold Council suggestions and has reported all-in sustaining prices on a gross sales foundation. Different corporations could calculate these measures in another way.

B2Gold defines all-in sustaining prices per ounce because the sum of money working prices, royalties and manufacturing taxes, capital expenditures and exploration prices which might be sustaining in nature, sustaining lease expenditures, company common and administrative prices, share-based cost bills associated to restricted share items/deferred share items/efficiency share items/restricted phantom items (“RSUs/DSUs/PSUs/RPUs”), neighborhood relations expenditures, reclamation legal responsibility accretion and realized (positive factors) losses on gasoline by-product contracts, all divided by the full gold ounces offered to reach at a per ounce determine.

The desk beneath reveals a reconciliation of all-in sustaining prices per ounce to manufacturing prices as extracted from the unaudited condensed interim consolidated monetary statements on a consolidated and a mine-by-mine foundation for the three months ended September 30, 2024 ({dollars} in 1000’s):

^{( 1) Included as a element of Share-based funds on the Assertion of operations.
(2) Discuss with Sustaining capital expenditures and Sustaining mine exploration reconciliations beneath.}

The desk beneath reveals a reconciliation of sustaining capital expenditures to working mine capital expenditures as extracted from the unaudited condensed interim consolidated monetary statements for the three months ended September 30, 2024 ({dollars} in 1000’s):

The desk beneath reveals a reconciliation of sustaining mine exploration to working mine exploration as extracted from the unaudited condensed interim consolidated monetary statements for the three months ended September 30, 2024 ({dollars} in 1000’s):

The desk beneath reveals a reconciliation of all-in sustaining prices per ounce to manufacturing prices as extracted from the unaudited condensed interim consolidated monetary statements on a consolidated and a mine-by-mine foundation for the three months ended September 30, 2023 ({dollars} in 1000’s):

^{(1) Included as a element of Share-based funds on the Assertion of operations.
(2) Discuss with Sustaining capital expenditures and Sustaining mine exploration reconciliations beneath.}

The desk beneath reveals a reconciliation of sustaining capital expenditures to working mine capital expenditures as extracted from the unaudited condensed interim consolidated monetary statements for the three months ended September 30, 2023 ({dollars} in 1000’s):

The desk beneath reveals a reconciliation of sustaining mine exploration to working mine exploration as extracted from the unaudited condensed interim consolidated monetary statements for the three months ended September 30, 2023 ({dollars} in 1000’s):

The desk beneath reveals a reconciliation of all-in sustaining prices per ounce to manufacturing prices as extracted from the unaudited condensed interim consolidated monetary statements on a consolidated and a mine-by-mine foundation for the 9 months ended September 30, 2024 ({dollars} in 1000’s):

^{(1) Included as a element of Share-based funds on the Assertion of operations.
(2) Discuss with Sustaining capital expenditures and Sustaining mine exploration reconciliations beneath.}

The desk beneath reveals a reconciliation of sustaining capital expenditures to working mine capital expenditures as extracted from the unaudited condensed interim consolidated monetary statements for the 9 months ended September 30, 2024 ({dollars} in 1000’s):

The desk beneath reveals a reconciliation of sustaining mine exploration to working mine exploration as extracted from the unaudited condensed interim consolidated monetary statements for the 9 months ended September 30, 2024 ({dollars} in 1000’s):

The tables beneath present a reconciliation of all-in sustaining prices per ounce to manufacturing prices as extracted from the unaudited condensed interim consolidated monetary statements on a consolidated and a mine-by-mine foundation for the 9 months ended September 30, 2023 ({dollars} in 1000’s):

^{(1) Included as a element of Share-based funds on the Assertion of operations.
(2) Discuss with Sustaining capital expenditures and Sustaining mine exploration reconciliations beneath}

The desk beneath reveals a reconciliation of sustaining capital expenditures to working mine capital expenditures as extracted from the unaudited condensed interim consolidated monetary statements for the 9 months ended September 30, 2023 ({dollars} in 1000’s):

The desk beneath reveals a reconciliation of sustaining mine exploration to working mine exploration as extracted from the unaudited condensed interim consolidated monetary statements for the 9 months ended September 30, 2023 ({dollars} in 1000’s):

Adjusted web earnings and adjusted earnings per share – fundamental

Adjusted web earnings and adjusted earnings per share – fundamental are non-IFRS measures that do not need a standardized that means prescribed by IFRS and subsequently is probably not akin to related measures introduced by different issuers. The Firm defines adjusted web earnings as web earnings attributable to shareholders of the Firm adjusted for non-recurring gadgets and in addition important recurring non-cash gadgets. The Firm defines adjusted earnings per share – fundamental as adjusted web earnings divided by the essential weighted variety of widespread shares excellent.

Administration believes that the presentation of adjusted web earnings and adjusted earnings per share – fundamental is suitable to supply extra info to traders relating to gadgets that we don’t anticipate to proceed on the identical stage sooner or later or that administration doesn’t imagine to be a mirrored image of the Firm’s ongoing working efficiency. Administration additional believes that its presentation of those non-IFRS monetary measures present info that’s helpful to traders as a result of they’re essential indicators of the energy of our operations and the efficiency of our core enterprise. Accordingly, it’s supposed to supply extra info and shouldn’t be thought-about in isolation as an alternative choice to measures of efficiency ready in accordance with IFRS. Different corporations could calculate this measure in another way.

A reconciliation of web (loss) earnings to adjusted web earnings as extracted from the unaudited condensed interim consolidated monetary statements is about out within the desk beneath:

For extra info on B2Gold please go to the Firm web site at www.b2gold.com or contact: Michael McDonald VP, Investor Relations & Company Growth +1 604-681-8371 investor@b2gold.com Cherry DeGeer Director, Company Communications +1 604-681-8371 investor@b2gold.com