B2Gold Proclaims Preliminary Inferred Mineral Useful resource Estimate for the Springbok Zone of the Antelope Deposit on the Otjikoto Mine in Namibia

VANCOUVER, British Columbia, June 20, 2024 (GLOBE NEWSWIRE) — B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Firm”) is happy to announce an preliminary Inferred Mineral Useful resource Estimate for the Springbok Zone, the southernmost shoot of the just lately found Antelope deposit, situated roughly three kilometers (“km”) south of the Otjikoto Part 5 open pit on the Otjikoto Mine in Namibia. All greenback figures are in United States {dollars} until in any other case indicated.

Highlights

• Preliminary discovery to graduation of a Preliminary Financial Evaluation (“PEA”) in beneath two years
  • The Antelope deposit, comprised of the Springbok Zone, the Oryx Zone, and a attainable third construction, Impala, topic to confirmatory drilling, was found in 2022 following deep drill testing by B2Gold exploration personnel on three-dimensional fashions of airborne magnetic knowledge
  • Over 36,000 meters (“m”) have been drilled into the Springbok Zone thus far, with 33 holes totaling 16,950 m accomplished in 2024, to ascertain the 50 x 50 m spacing that informs this preliminary Inferred Mineral Useful resource Estimate

• Preliminary Inferred Mineral Useful resource Estimate of 390,000 gold ounces meets the B2Gold threshold to provoke PEA-level research of improvement by underground mining strategies, much like the Wolfshag deposit
  • The Mineral Useful resource estimate on the Springbok Zone that may kind the premise for a possible PEA consists of Inferred Mineral Sources of 1.75 million tonnes grading 6.91 grams per tonne (“g/t”) gold for a complete of 390,000 ounces of gold
  • Ongoing exploration drilling on the Oryx Zone, which seems to signify a second shoot northeast of and stacked stratigraphically above the Springbok Zone, has returned high-grade intervals that reveal the potential to extend the Mineral Useful resource estimate

• Topic to receipt of a constructive PEA research and allow, mining of the Springbok Zone, coupled with the exploration potential of the higher Antelope deposit, might start to contribute to gold manufacturing at Otjikoto in 2026
  • 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

• Current drilling on the Springbok Zone stays open southward, indicating further exploration potential past the at present outlined useful resource
  • Drill gap GH24-097 intersected 13.68 g/t gold over 6.10 m from 470.63 m, and drill gap GH24-104 intersected 21.64 g/t gold over 5.88 m from 502.37 m

Determine 1. Otjikoto Mine and Antelope Deposit Location Overview

Springbok Zone June 2024 Mineral Useful resource Estimate

Notes:

1. The Certified Particular person as outlined beneath Nationwide Instrument 43-101 for the Springbok Zone June 2024 Mineral Useful resource estimate is Andrew Brown, P.Geo., B2Gold’s Vice President, Exploration.
2. Mineral Sources have been labeled utilizing the 2014 CIM Definition Requirements. Mineral Sources that aren’t Mineral Reserves shouldn’t have demonstrated financial viability. There is no such thing as a assure that every one or any a part of the Mineral Useful resource shall be transformed right into a Mineral Reserve. Inferred Sources are thought of too geologically speculative to have mining and financial concerns utilized to them that might allow them to be categorized as Mineral Reserves.
3. The Springbok Zone June 2024 Mineral Useful resource Estimate has an efficient date of June 14, 2024.
4. Mineral Sources are reported on a 100% foundation.
5. The Springbok Zone June 2024 Mineral Useful resource Estimate assumes an underground mining methodology. Mineral sources are reported inside optimized stopes that have been created utilizing a 3 g/t Au cut-off and minimal thickness of 4 m.
6. “Different” useful resource ounces are adjoining to the principle Springbok Zone and are throughout the 50 x 50 m drill spacing that defines the inferred mineral useful resource.
7. All tonnage, grade and contained metallic content material estimates have been rounded; rounding might end in obvious summation variations between tonnes, grade, and contained metallic content material.

Useful resource Mannequin Methodology

The preliminary Springbok Mineral Useful resource mannequin was ready in-house by B2Gold personnel. Drilling accomplished in help of the June 2024 Mineral Useful resource Estimate consists of 60 diamond drillholes (32,249 m of drilling).

Excessive-grade mineralization on the Springbok Zone types shallowly plunging shoots inside gently dipping stratigraphy. Excessive-grade and low-grade mineralization domains have been modeled alongside these traits in three-dimensions and used to manage the estimation of gold grades.

All sources on the Springbok Zone are hosted inside contemporary rock.

Outlier assays have been capped at 4 g/t gold within the low-grade area and 35 g/t gold within the high-grade area. Gold grades have been capped previous to compositing to 1 m. Grades have been estimated into the block mannequin utilizing Inverse Distance Cubed (ID3) interpolation with searches dynamically managed alongside mineralized zone traits.

A complete of 4,382 bulk density measurements have been made at website on drill core samples utilizing the Archimedes water-displacement methodology. The typical density is 3.11 tonnes per cubic meter (“t/m³”) within the low-grade area and three.37 t/m³ within the high-grade area.

Nominal drill gap spacing for Inferred Mineral Sources is 50 x 50 m.

2024 Otjikoto Exploration Drilling Program

The 2024 exploration price range for Namibia is $9 million, funding the most important drill program on the Otjikoto Mine for the reason that definition of the Wolfshag discovery in 2012. A complete of 39,000 m of drilling have been budgeted for 2024 and 5 rigs are at present lively on the drill program.

General, the Antelope deposit mineralization has been intersected by drilling over a mixed strike size of roughly 1,500 m. Over two km of potential stratigraphy stay comparatively untested between the Oryx Zone and the southernmost recognized mineralization in Part 5 of the Otjikoto Mine open pit. Drilling over this zone is deliberate for the second half of 2024.

The preliminary Inferred Mineral Useful resource for the Springbok Zone is a big milestone, following the 2022 discovery of the Antelope deposit, a blind goal, in that mineralization doesn’t outcrop on the Otjikoto mining license. Mineralization within the Springbok Zone is characterised by quartz-pyrrhotite-magnetite veins and domestically, seen gold. Mineralization has been overprinted by deformation targeted alongside two fundamental marble beds, that function main stratigraphic markers within the Otjikoto Mine stratigraphy.

Excessive-grade gold mineralization displays continuity alongside a shoot-like geometry plunging shallowly north-northeast. This means a refined inflection within the stratigraphy that hosts the Otjikoto deposit, the place the mineralized zones plunge shallowly south-southwest. Of the 16,950 m of drilling accomplished on the Springbok Zone in 2024, drill holes similar to GH24-104 (21.64 g/t gold over 5.88 m from 502.37 m) and GH24-097 (13.68 g/t gold over 6.10 m from 470.63 m) spotlight among the high-grade width intervals current throughout the Springbok Zone. Probably the most latest drill holes, GH24-117, intersected 7.13 g/t gold over 6.56 m from 416.72 m, together with a higher-grade interval of 11.13 g/t gold over 3.81 m, and is the southernmost intersection of the Springbok Zone, indicating that mineralization stays open-ended to the southeast. As beforehand reported, the deep mineralization within the Antelope deposit, together with the Springbok Zone, is probably amenable to underground mining primarily based on comparable inputs from the underground mining of the Wolfshag deposit.

Highlights from the 2024 infill drill program on the Springbok Zone embody:

Notice:

1. All composites reported are above a 3.5 g/t gold cutoff, making use of a most inside dilution of two m. Outcomes are uncapped. Core lengths approximate true width of mineralized intervals.

With the 50 x 50 m infill drill program of the Springbok Zone accomplished, three rigs shall be deployed to the Oryx Zone. Beforehand introduced drill holes similar to GH23-056, which intersected 9.86 g/t gold over 7.48 m from 517.55 m, point out that useful resource potential is open to the northeast alongside strike from the Springbok Zone.

Determine 2. Springbok Zone 2024 Infill Drilling Outcomes

High quality Assurance/High quality Management on Pattern Assortment and Assaying

LeachWell evaluation on the Otjikoto Mine Lab has been the first methodology of research of half core (NQ) samples from the Antelope deposit. Assay composites offered herein are derived from 1-kilogram samples. Tails from mineralized zones are fireplace assayed to find out the gold recoveries, which averages ~95%. Quarterly submission of coarse reject materials is distributed to an authorized exterior laboratory for Display Hearth Assay examine evaluation. In-house research by B2Gold point out that LeachWell outcomes evaluate favorably to fireside assay accomplished by ALS Johannesburg.

High quality assurance and high quality management procedures embody the systematic insertion of blanks, LeachWell licensed requirements and duplicates within the drill core pattern sequence. The outcomes of the management samples are evaluated regularly with partial batches re-analyzed and/or resubmitted on exploration samples, as wanted. All outcomes said on this announcement have been accepted in accordance with B2Gold’s high quality assurance and high quality management protocols.

About B2Gold

B2Gold is a low-cost worldwide senior gold producer headquartered in Vancouver, Canada. Based in 2007, as we speak, B2Gold has working gold mines in Mali, Namibia and the Philippines, the Goose Undertaking beneath development in northern Canada and quite a few improvement and exploration tasks in varied nations together with Mali, Colombia and Finland.

Certified Individuals

Andrew Brown, P.Geo., Vice President, Exploration at B2Gold, a certified particular person beneath Nationwide Instrument 43-101, has reviewed and permitted the scientific data associated to exploration and mineral useful resource issues contained on this information launch.

ON BEHALF OF B2GOLD CORP.

“Clive T. Johnson”
President & Chief Government Officer

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

Manufacturing outcomes and manufacturing steerage offered 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 data” and “forward-looking statements” (collectively forward-looking statements”) throughout the which 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, metallic worth assumptions, ore grades or sources, gold restoration charges, stripping ratios, throughput, ore processing; statements relating to anticipated exploration, drilling, improvement, development, allowing and different actions or achievements of B2Gold; and together with, with out limitation: the potential for the Antelope deposit to be developed as an underground mining operation and contribute gold through the low-grade stockpile processing on the Otjikoto Mine in 2026. All statements on this information launch that tackle occasions or developments that we count on to happen sooner or later are forward-looking statements. Ahead-looking statements are statements that aren’t historic information and are typically, though not at all times, recognized by phrases similar to “count on”, “plan”, “anticipate”, “undertaking”, “goal”, “potential”, “schedule”, “forecast”, “price range”, “estimate”, “intend” or “consider” and related expressions or their unfavourable connotations, or that occasions or circumstances “will”, “would”, “might”, “might”, “ought to” or “may” happen. All such forward-looking statements are primarily based 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 metallic costs and B2Gold’s frequent shares; modifications in tax legal guidelines; the hazards inherent in exploration, improvement and mining actions; the uncertainty of reserve and useful resource estimates; not reaching manufacturing, price or different estimates; precise manufacturing, improvement plans and prices differing materially from the estimates in B2Gold’s feasibility and different research; the flexibility to acquire and preserve any needed 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 flexibility to exchange mineral reserves and determine acquisition alternatives; the unknown liabilities of firms acquired by B2Gold; the flexibility to efficiently combine new acquisitions; fluctuations in alternate charges; the supply of financing; financing and debt actions, together with potential restrictions imposed on B2Gold’s operations in consequence thereof and the flexibility to generate adequate money flows; operations in overseas and creating 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 modifications in overseas legal guidelines and altering insurance policies associated to mining and native possession necessities or useful resource nationalization typically; distant operations and the supply of enough infrastructure; fluctuations in worth and availability of power and different inputs needed for mining operations; shortages or price will increase in needed tools, provides and labour; regulatory, political and nation dangers, together with native instability or acts of terrorism and the consequences thereof; the reliance upon contractors, third events and three way partnership companions; the dearth of sole decision-making authority associated to Filminera Sources Company, which owns the Masbate Undertaking; challenges to title or floor rights; the dependence on key personnel and the flexibility to draw and retain expert personnel; the chance of an uninsurable or uninsured loss; adversarial local weather and climate circumstances; litigation threat; competitors with different mining firms; group help for B2Gold’s operations, together with dangers associated to strikes and the halting of such operations every so often; conflicts with small scale miners; failures of knowledge programs or data safety threats; the flexibility to take care of 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 components recognized and as described in additional element beneath the heading “Threat 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 seen at www.sedar.com and www.sec.gov, respectively (the “Web sites”). The listing is just not exhaustive of the components that will have an effect on B2Gold’s forward-looking statements.

B2Gold’s forward-looking statements are primarily based on the relevant assumptions and components administration considers cheap as of the date hereof, primarily based on the data out there to administration at such time. These assumptions and components embody, however will not be restricted to, assumptions and components associated to B2Gold’s potential to hold on present and future operations, together with: improvement and exploration actions; the timing, extent, length 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 potential to fulfill or obtain estimates, projections and forecasts; the supply and value of inputs; the value and marketplace for outputs, together with gold; overseas alternate charges; taxation ranges; the well timed receipt of needed approvals or permits; the flexibility to fulfill present and future obligations; the flexibility to acquire well timed financing on cheap phrases when required; the present and future social, financial and political circumstances; and different assumptions and components typically related to the mining business.

B2Gold’s forward-looking statements are primarily based 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 aside from as required by relevant legislation. There might 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 might be on condition 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.

Cautionary Assertion Concerning 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 the US Securities and Alternate Fee (“SEC”), and useful resource and reserve data contained or referenced on this information launch is probably not similar to related data disclosed by public firms topic to the technical disclosure necessities of the SEC. Historic outcomes or feasibility fashions offered herein will not be ensures or expectations of future efficiency.

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