VANCOUVER, January 20, 2021 /PRNewswire/ – B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) (“B2Gold” or the “Firm”) is happy to announce its consolidated gold manufacturing and gold revenues for the fourth quarter and full-year 2020, along with its manufacturing and funds steering for 2021. All greenback figures are in United States {dollars} except in any other case indicated.

2020 Gold Manufacturing and Income Highlights

• Fourth quarter complete gold manufacturing of 270,469 ounces (together with 14,150 ounces of attributable manufacturing from Calibre Mining Corp. (“Calibre”)) and consolidated gold manufacturing of 256,319 ounces from the Firm’s three working mines
• Fourth quarter consolidated gold revenues of $480 million, a major improve of $166 million (53%) over the fourth quarter of 2019 (excluding revenues from discontinued operations)
• Document annual complete gold manufacturing of 1,040,737 ounces (together with 45,479 ounces of attributable manufacturing from Calibre)
• Document annual consolidated gold manufacturing from the Firm’s three working mines of 995,258 ounces, on the higher finish of the steering vary (of between 955,000 – 1,005,000 ounces), and considerably larger by 17% (144,142 ounces) over 2019 (excluding discontinued operations), marking the twelfth consecutive 12 months of report annual consolidated gold manufacturing
• Document annual consolidated gold revenues of $1.79 billion, a major improve of $0.63 billion (55%) over 2019 (excluding revenues from discontinued operations)
• The Firm expects to be on the low finish of its steering vary for complete consolidated money working prices (see “Non-IFRS Measures”) of between $415 – $455 per ounce and on the low finish of its steering vary for complete consolidated all-in sustaining prices (“AISC”) (see “Non-IFRS Measures”) of between $780 – $820 per ounce
• Profitable commissioning of the Fekola mill enlargement to 7.5 million tonnes each year (“Mtpa”) (a rise of 1.5 Mtpa from an assumed base price of 6 Mtpa) on September 10, 2020, a number of weeks forward of the scheduled completion date of September 30, 2020; the Fekola mill has the potential to run above the expanded annualized throughput price of seven.5 Mtpa and evaluation is at present underway to find out the optimum throughput price (for 2021 budgeting functions the Firm has assumed a throughput price of seven.75 Mtpa)
• Chosen because the recipient of two prestigious mining business awards in 2020 for B2Gold’s dedication to sustainable mining and improvement: the Prospectors & Builders Affiliation of Canada’s “2021 Sustainability Award” and the Mining Journal’s “2020 Most Sustainable Miner Award”
• In December 2020, the Gramalote Mission in Colombia acquired the “Seal of Antioquia Award” from the Authorities of Antioquia by the Ministry of Mines for big scale operations, recognizing its dedication to neighborhood assist
• B2Gold’s quarterly dividend price was elevated within the third quarter of 2020 by 100% to $0.04 per widespread share (or an annualized price of $0.16 per widespread share), one of many highest dividend yields within the gold sector

2021 Funds Highlights

• For 2021, B2Gold stays properly positioned for continued sturdy operational and monetary efficiency with complete manufacturing steering of between 970,000 – 1,030,000 ounces of gold (together with attributable ounces projected from Calibre of between 50,000 – 60,000 ounces) with complete consolidated forecast money working prices of between $500 – $540 per ounce and complete consolidated AISC of between $870 – $910 per ounce; consolidated money working prices and AISC per ounce are forecast to be larger than 2020, primarily because of the deliberate decrease manufacturing and better deliberate stripping actions at Fekola, larger forecast gas and labour prices in Mali, and the drawdown of ore stockpiles at Otjikoto
• As a consequence of open pit mine sequencing, consolidated gold manufacturing is predicted to be considerably weighted to the second half of 2021; for the primary half of 2021, consolidated gold manufacturing is forecasted to be between 365,000 – 385,000 ounces, which is predicted to extend considerably to between 555,000 – 585,000 ounces through the second half of 2021
• Primarily based on present working plans, over a five-year outlook from 2020 to 2024, annual consolidated gold manufacturing is forecast to common 950,000 ounces with AISC averaging $825 per ounce
• The outcomes of the Gramalote Feasibility Examine are anticipated to be introduced in April 2021, with a development choice anticipated to be made shortly thereafter
• The Firm is re-evaluating the Kiaka Mission in Burkina Faso, and expects to have an up to date financial evaluation of the venture for inner overview accomplished by the tip of the primary quarter of 2021, adopted by an up to date feasibility examine by mid-year 2021
• Following a really profitable 12 months for exploration in 2020, B2Gold is planning a 12 months of aggressive exploration in 2021 with a funds of roughly $66 million (excluding Gramalote), together with a report $25 million allotted to the Firm’s ongoing grassroots exploration packages
• An up to date mineral useful resource estimate for the Anaconda space (situated 20 kilometres north of Fekola), based mostly on the finished 2020 drill program, is predicted within the first quarter of 2021 and the Firm has allotted $8 million for drilling to increase the mineral useful resource estimate in 2021; as well as an preliminary mineral useful resource estimate is predicted to be accomplished for the Cardinal zone (situated inside 500 metres of the present Fekola useful resource pit) within the first quarter of 2021
• Primarily based on present assumptions, together with a gold value of $1,800 per ounce, the Firm expects to generate cashflows from working actions of roughly $630 million in 2021

Regardless of among the challenges that the present COVID-19 pandemic has created worldwide and in every of the places the place the Firm operates or is head-quartered, the Firm continues to function nearly unimpeded. The B2Gold government staff may be very pleased with the Firm’s workers’ dedication and resilience in these difficult instances and imagine it’s partly because of the government staff’s and mine workers’ years of expertise in all points of worldwide mining, and the Firm’s tradition of treating all its stakeholders with equity, respect and transparency. This profitable strategy is mirrored once more within the Firm’s report efficiency in 2020.

The Firm continues to deal with the COVID-19 pandemic and decrease its potential impression at B2Gold’s operations. B2Gold locations the protection and well-being of its workforce and all stakeholders as its highest precedence and continues to encourage enter from all its stakeholders because the COVID-19 scenario evolves. The Firm continues to implement measures and precautionary steps to handle and reply to the dangers related to COVID-19 to make sure the protection of B2Gold’s workers, contractors, suppliers and surrounding communities the place the Firm works whereas persevering with to function. The Firm is regularly updating these plans and response measures based mostly on the protection and well-being of its workforce, the severity of the pandemic in areas the place it operates, world response measures, authorities restrictions and in depth neighborhood session. The Firm is working carefully with nationwide and native authorities and continues to carefully monitor every web site’s scenario, together with public and worker sentiment to make sure that stakeholders are in alignment with continued protected operation of its mines.

2020 Gold Manufacturing and Improvement

Regardless of the challenges of the COVID-19 pandemic, B2Gold had one other exceptional 12 months of sturdy development in 2020, with the achievement of B2Gold’s twelfth consecutive 12 months of report annual gold manufacturing. The Firm’s complete gold manufacturing for 2020 was an annual report of 1,040,737 ounces (together with 45,479 ounces of attributable manufacturing from Calibre), on the higher finish of the steering vary (of between 1,000,000 – 1,055,000 ounces). Consolidated gold manufacturing from the Firm’s three working mines was an annual report of 995,258 ounces of gold, on the higher finish of the steering vary (of between 955,000 – 1,005,000 ounces), and considerably larger by 17% (144,142 ounces) than 2019 (excluding discontinued operations). The numerous improve in gold manufacturing over 2019 was pushed by the Fekola Mine in Mali, which produced an annual report of 622,518 ounces of gold, exceeding the higher finish of its steering vary (of between 590,000 – 620,000 ounces). Between the graduation of Fekola’s operations in September 2017 and December 31, 2020, the Fekola Mine has produced over 1.6 million ounces of gold (which is 155,000 ounces greater than initially forecast beneath Fekola’s Definitive Feasibility Examine over this era). The Masbate Mine in the Philippines achieved one other sturdy 12 months in 2020, producing 204,699 ounces of gold, on the midpoint of its steering vary (of between 200,000 – 210,000 ounces). Masbate’s sturdy operational efficiency was achieved regardless of a five-day momentary suspension of mining actions within the first quarter of 2020 as a result of gas shortages regarding COVID-19 restrictions, and a magnitude 6.6 earthquake roughly 90 kilometres from the mine web site on August 18, 2020, suspending mining and processing operations for 5 and 6 days, respectively, as inspections had been carried out to verify there was no harm to the mine from the earthquake. The Otjikoto Mine in Namibia additionally had one other strong 12 months in 2020, producing 168,041 ounces of gold, close to the midpoint of its steering vary (of between 165,000 – 175,000 ounces).

The Firm is at present compiling its remaining money working prices and AISC outcomes for 2020 and can launch its fourth quarter and full-year 2020 monetary outcomes after the North American markets shut on Tuesday, February 23, 2021. The Firm expects to be on the low finish of its steering vary for complete consolidated money working prices of between $415 – $455 per ounce and on the low finish of its steering vary for complete consolidated AISC of between $780 – $820 per ounce.

The Firm’s enlargement and improvement tasks additionally progressed properly all through 2020: 

• At Fekola, profitable commissioning of the Fekola mill enlargement to 7.5 Mtpa (a rise of 1.5 Mtpa from an assumed base price of 6 Mtpa), occurred on September 10, 2020, a number of weeks forward of the scheduled completion date of September 30, 2020. The Fekola mill has the potential to run above the annualized throughput price of seven.5 Mtpa and evaluation is at present underway to find out the optimum throughput price (for 2021 budgeting functions the Firm has assumed a throughput price of seven.75 Mtpa). Remobilization of the Fekola photo voltaic plant development group started in mid-September 2020, following a short lived suspension of development actions in April 2020 as a result of COVID-19.
• At Otjikoto, improvement of the Wolfshag underground mine continues to progress properly and on schedule. Within the third quarter of 2020, the mining contractor was mobilized, and improvement of the portal and first underground ramp has now commenced. Stope ore manufacturing is predicted to start in early 2022, in-line with authentic estimates.
• On the Gramalote Mission, feasibility work continued as deliberate from the recommencement of drilling on Could 11, 2020, with infill useful resource drilling accomplished on August 21, 2020. Through the fourth quarter of 2020, an up to date useful resource mannequin for Gramalote was accomplished, offering the data essential to advance pit design and mining engineering research. Feasibility stage metallurgical research and course of plant design had been accomplished by year-end and infrastructure design work continues. The outcomes of the Gramalote Feasibility Examine are anticipated to be introduced in April 2021, with a development choice anticipated to be made shortly thereafter.

Wanting ahead to 2021, B2Gold stays properly positioned for continued sturdy operational and monetary efficiency. The Firm’s complete gold manufacturing is forecast to be between 970,000 – 1,030,000 ounces (together with 50,000 – 60,000 ounces attributable ounces projected from Calibre) in 2021, with complete consolidated money working prices forecast to be between $500 – $540 per ounce and complete consolidated AISC forecast to be between $870 – $910 per ounce.

The Firm’s consolidated gold manufacturing from its three working mines is forecast to be between 920,000 – 970,000 ounces in 2021, with consolidated money working prices forecast to be between $480 – $520 per ounce and consolidated AISC forecast to be between $860 – $900 per ounce. The Firm’s 2021 manufacturing steering doesn’t embrace the potential upside to extend Fekola’s gold manufacturing in 2021 from extra mining areas and processing capability at present being investigated (see “2021 Manufacturing Outlook and Value Steerage” part beneath).  

Primarily based on present working plans, over a five-year outlook from 2020 to 2024, annual consolidated gold manufacturing is forecast to common 950,000 ounces with AISC averaging $825 per ounce.

2020 Gold Income  

For full-year 2020, consolidated gold income was a report $1.79 billion on gross sales of 1,006,455 ounces at a median value of $1,777 per ounce, in comparison with $1.16 billion on gross sales of 827,800 ounces at a median value of $1,396 per ounce in 2019 (excluding revenues from discontinued operations). This vital improve in gold income of 55% ($0.63 billion) was 33% attributable to the rise within the common realized gold value and 22% attributable to the rise in gold ounces offered (primarily because of the larger gold manufacturing).

For the fourth quarter of 2020, consolidated gold income was $480 million on gross sales of 256,655 ounces at a median value of $1,868 per ounce, in comparison with $314 million on gross sales of 211,800 ounces at a median value of $1,481 per ounce within the fourth quarter of 2019 (excluding revenues from discontinued operations). This vital improve in gold income of 53% ($166 million) was 32% attributable to the rise within the common realized gold value and 21% attributable to the rise in gold ounces offered (primarily because of the larger gold manufacturing).

2020 Operations

Mine-by-mine gold manufacturing within the fourth quarter and full-year 2020 (together with the Firm’s approximate 33% share of Calibre’s manufacturing) was as follows:  

Fekola Gold Mine – Mali

The Fekola Mine in Mali had a report 12 months in 2020, producing an annual report of 622,518 ounces of gold, exceeding the higher finish of its steering vary (of between 590,000 – 620,000 ounces), as processed grade, tonnes and recoveries all exceeded funds. Gold manufacturing for the 12 months additionally elevated considerably by 37% (166,708 ounces) over 2019, primarily because of the enlargement of the Fekola mining fleet and optimization of the pit designs and mine plan for 2020, which supplied entry to larger grade parts of the Fekola deposit sooner than anticipated in earlier mine plans. Between the graduation of Fekola’s operations in September 2017 to December 31, 2020, the Fekola Mine has produced over 1.6 million ounces of gold (which is 155,000 ounces greater than initially forecast beneath Fekola’s Definitive Feasibility Examine over this era). As at December 31, 2020, the Fekola Mine had achieved 347 days and not using a misplaced time harm (“LTI”). Within the fourth quarter of 2020, the Fekola Mine produced 158,548 ounces of gold, considerably larger than the fourth quarter of 2019 by 33% (39,305 ounces). 

In September 2020, the commissioning of the Fekola mill enlargement to 7.5 Mtpa (a rise of 1.5 Mtpa from an assumed base price of 6 Mtpa) was efficiently accomplished a number of weeks forward of schedule. The Fekola mill has the potential to run above the expanded annualized throughput price of seven.5 Mtpa and evaluation is at present underway to find out the optimum throughput price (for 2021 budgeting functions the Firm has assumed a throughput price of seven.75 Mtpa). As well as, considerably all the Fekola mine fleet enlargement tools deliberate for 2020 (together with excavators, vans, and drill rigs) have now arrived on web site and are operational, with the general mine enlargement now materially full.

For full-year 2020, mill feed grade was 2.99 grams per tonne (“g/t”) in comparison with funds of two.91 g/t and a couple of.16 g/t in 2019; mill throughput was 6.87 million tonnes in comparison with funds of 6.84 million tonnes and 6.98 million tonnes in 2019; and gold restoration averaged 94.3% in comparison with funds of 93.8% and 94.2% in 2019. The marginally decrease mill throughput in 2020 in comparison with 2019 was primarily as a result of the deliberate downtime for the Fekola mill enlargement tie-ins and softer low-grade ore being processed in 2019.

For full-year 2020, Fekola’s money working prices are anticipated to be on the higher finish of its steering vary of between $285 – $325 per ounce and AISC are anticipated to on the higher finish of its steering vary of between $555 – $595 per ounce (as a result of elevated royalties because of larger gold costs).

Fekola Photo voltaic Plant

Following the momentary suspension of photo voltaic plant development actions in April 2020 as a result of COVID-19 restrictions, development recommenced on October 2, 2020. At December 31, 2020, total development progress was roughly 70% full. On January 5, 2021, a fireplace (at present beneath investigation) within the photo voltaic storage yard destroyed roughly 25% of the photo voltaic panels for the venture. Primarily based on present projections, the Firm expects that 25% of the photo voltaic capability will develop into obtainable within the first quarter of 2021, 50% within the second quarter, with the remaining 25% by the third quarter. General venture completion timing is contingent on receiving replacements for the broken elements. The Firm doesn’t anticipate any vital impression on Fekola’s 2021 budgeted money working prices because of the delay in completion of the photo voltaic plant.  

The prevailing HFO and diesel energy plant have an put in capability of 64 megawatts whereas Fekola’s expanded mill amenities require solely roughly 40 megawatts for steady operations. The photo voltaic plant is due to this fact not a obligatory element to maintain the upper course of plant manufacturing price however is predicted to scale back Fekola’s working prices and emissions by lowering energy plant gas consumption and upkeep prices. When the plant is totally commissioned, it would cut back HFO consumptions by over 13 million litres per 12 months and decrease carbon dioxide emissions by an estimated 39,000 tonnes per 12 months.

Masbate Gold Mine – the Philippines

The Masbate Mine in the Philippines achieved one other sturdy 12 months in 2020, producing 204,699 ounces of gold, on the midpoint of its steering vary (of between 200,000 – 210,000 ounces). Masbate’s sturdy operational efficiency was achieved regardless of a 5 day momentary suspension of mining actions within the first quarter of 2020 as a result of gas shortages regarding COVID-19 restrictions, and a magnitude 6.6 earthquake roughly 90 kilometres from the mine web site on August 18, 2020, suspending mining and processing operations for 5 and 6 days, respectively, as inspections had been carried out to verify there was no harm to the mine from the earthquake. As well as, Masbate operations continued to run usually following an excellent storm (Storm Goni), which first made landfall in the Philippines on November 1, 2020. In comparison with 2019, gold manufacturing in 2020, as deliberate, was decrease by 6% (12,641 ounces), because the prior 12 months had benefited from larger grade ore tonnage from the Predominant Vein Pit. The Masbate Mine continued its exceptional security efficiency, extending the variety of days with out an LTI to 776 days as at December 31, 2020. Masbate had a powerful end to the 12 months, producing 57,566 ounces of gold within the fourth quarter of 2020, considerably larger than the fourth quarter of 2019 by 13% (6,825 ounces), primarily as a result of larger recoveries (because of mining extra oxide ore).  

For full-year 2020, mill feed grade was 1.00 g/t in comparison with funds of 1.01 g/t and 1.16 g/t in 2019; mill throughput was 7.76 million tonnes in comparison with funds of 8.2 million tonnes and eight.0 million tonnes in 2019; and gold restoration averaged 82.3% in comparison with funds of 76.3% and 73.2% in 2019. Common gold recoveries had been above funds as a result of mining extra oxide ore than budgeted.

For full-year 2020, Masbate’s money working prices are anticipated to be beneath the low finish of its steering vary of between $665 – $705 per ounce and AISC are anticipated to be inside its steering vary of between $965 – $1,005 per ounce.

Otjikoto Gold Mine – Namibia

The Otjikoto Mine in Namibia additionally had one other strong 12 months in 2020, producing 168,041 ounces of gold, close to the midpoint of its steering vary (of between 165,000 – 175,000 ounces). In comparison with 2019, gold manufacturing, as deliberate, was decrease by 6% (9,925 ounces) in 2020, because the prior 12 months had benefited from extra high-grade ore tonnes being mined from Section 2 of the Wolfshag Pit. The Otjikoto Mine has a exceptional security report, with no LTI’s from March 27, 2018 till October 29, 2020, when an LTI for a fractured ankle occurred. As at December 31, 2020, the Otjikoto Mine had achieved 63 days with out an LTI. Within the fourth quarter of 2020, the Otjikoto Mine produced 40,205 ounces of gold (fourth quarter of 2019 – 58,422 ounces). 

For full-year 2020, mill feed grade was 1.52 g/t in comparison with funds of 1.55 g/t and 1.64 g/t in 2019; mill throughput was 3.51 million tonnes in comparison with funds of three.41 million tonnes and three.42 million tonnes in 2019; and gold restoration averaged 98.4% in comparison with funds of 98.0% and 98.7% in 2019.

For full-year 2020, Otjikoto’s money working prices are anticipated to be beneath the low finish of its steering vary of between $480 – $520 per ounce and AISC are anticipated to be properly beneath the low finish of its steering vary of between $1,010 – $1,050 per ounce.

2020 Improvement

Gramalote Mission (B2Gold – 50%/AngloGold Ashanti Restricted – 50%) – Colombia

B2Gold has a 50% curiosity within the Gramalote Mission in Colombia, and on January 1, 2020 grew to become the operator of the Mission.

Primarily based on the optimistic outcomes from Gramalote’s Up to date Preliminary Financial Evaluation (launched on January 21, 2020), B2Gold believes that the Gramalote Mission has the potential to develop into a big, low-cost open-pit gold mine, topic to the outcomes of a remaining feasibility examine.  

Throughout 2020, Gramalote efficiently accomplished an intensive infill drill program of 42,500 meters in August 2020. The aim of the infill drilling was to verify and improve the Inferred Mineral Sources to Indicated standing to offer the idea for Gramalote’s Feasibility Examine. Through the fourth quarter of 2020, an up to date useful resource mannequin for Gramalote was accomplished, offering the data essential to advance pit design and mining engineering research. Feasibility stage metallurgical research and course of plant design had been accomplished by year-end and infrastructure design work continues. The outcomes of the Gramalote Feasibility Examine are anticipated to be introduced in April 2021, with a development choice anticipated to be made shortly thereafter.

Key social initiatives, together with resettlement work and artisanal miner formalization/relocation, continued to advance through the fourth quarter of 2020. Gramalote has additionally requested that the phrases of its EIA be modified to permit the resettlement course of to happen as development proceeds, which is able to help in accelerating the development sequence. 

2021 Manufacturing Outlook and Value Steerage

The Firm’s complete gold manufacturing is forecast to be between 970,000 – 1,030,000 ounces (together with 50,000 – 60,000 ounces attributable ounces projected from Calibre) in 2021 (in comparison with complete manufacturing of 1,040,737 ounces in 2020).

For 2021, the Firm’s consolidated gold manufacturing from its three working mines is forecast to be between 920,000 – 970,000 ounces, decrease than 2020 consolidated manufacturing of 995,258 ounces by roughly 5%. The lower is attributable to decrease anticipated manufacturing from Fekola in 2021 (as Section 5 and 6 of the Fekola Pit are developed within the first half of 2021), partially offset by an anticipated total 16% improve in manufacturing from Otjikoto. Fekola’s 2021 manufacturing forecast (of between 530,000 – 560,000 ounces), nevertheless, doesn’t embrace the potential upside to extend Fekola’s gold manufacturing in 2021 from extra mining areas and processing capability at present being investigated (as mentioned beneath). Gold manufacturing on the Masbate Mine is forecast to be corresponding to 2020.

For 2021, the Firm’s complete consolidated money working prices (together with forecast money working prices from B2Gold’s attributable 33% share of Calibre manufacturing) are forecast to be between $500 – $540 per ounce (in comparison with 2020 steering of between $415 – $455 per ounce) and complete consolidated AISC are forecast to be between $870 – $910 per ounce (in comparison with 2020 steering of between $780 – $820 per ounce).

The Firm’s consolidated money working prices from its three working mines are forecast to be between $480 – $520 per ounce (in comparison with 2020 steering of between $395 – $440 per ounce) and consolidated AISC are forecast to be between $860 – $900 per ounce (in comparison with 2020 steering of between $765 – $805 per ounce). Consolidated AISC per ounce are anticipated to extend by roughly 12% in 2021, primarily because of the deliberate decrease manufacturing and better interval stripping actions at Fekola (partially offset by larger manufacturing at Otjikoto), larger forecast gas prices, import duties and ongoing COVID-19 associated labour and medical prices in Mali, and the drawdown of ore stockpiles at Otjikoto.

Mine-by-mine 2021 ranges (together with the Firm’s approximate 33% share of Calibre’s El Limon and La Libertad mines) for forecast gold manufacturing, money working prices per ounce and AISC per ounce are introduced within the tables beneath.

The Firm’s consolidated gold manufacturing from its three working mines is predicted to be considerably weighted to the second half of 2021, because of the deliberate vital waste stripping at each the Fekola and Otjikoto Mines within the first half of 2021 (for Section 5 and Section 6 of the Fekola Pit, and Section 3 of the Wolfshag and Otjikoto Pits). For the primary half of 2021, consolidated gold manufacturing is predicted to be between 365,000 – 385,000 ounces, which is predicted to extend considerably to between 555,000 – 585,000 ounces through the second half of 2021 (when mining reaches the upper grade portion of Section 5 of the Fekola Pit and Section 3 of the Wolfshag Pit). Primarily based primarily on the weighting of manufacturing and timing of stripping, consolidated money working prices are anticipated to be between $620 – $660 per ounce within the first half of 2021, earlier than considerably enhancing to between $380 – $420 per ounce through the second half of 2021. As well as, consolidated AISC are anticipated to be between $1,040 – $1,080 per ounce within the first half of 2021, earlier than considerably enhancing to between $745 – $785 per ounce through the second half of 2021.

 

 

Fekola Gold Mine – Mali

The low-cost Fekola Mine in Mali is predicted to supply between 530,000 – 560,000 ounces of gold in 2021 at money working prices of between $405 – $445 per ounce and AISC of between $745 – $785 per ounce. Fekola’s gold manufacturing is forecast to be decrease in 2021, as a result of waste stripping and decrease mined ore grades anticipated within the first half of 2021, as Section 5 and 6 of the Fekola Pit are developed. Nonetheless, extra mining areas and processing capability are at present being investigated, with the potential to extend Fekola’s budgeted 2021 and long-term gold manufacturing. The close by Cardinal (situated inside 500 metres of the present Fekola useful resource pit) and Anaconda space (situated 20 kilometres north of Fekola) embrace each saprolite and hard-rock gold mineralization, with the potential to start mining in 2021, topic to acquiring all obligatory permits. Grade management drilling is already underway at a portion of the Cardinal deposit to allow ore to be mined for processing on the Fekola mill within the second quarter of 2021. As well as, mill processing trials carried out within the fourth quarter of 2020 show the potential to optimize the grind-throughput capability of the expanded facility and improve hard-rock throughput to roughly 8.0 Mtpa, and assist the addition of saprolite ore tonnage in extra of the hard-rock capability. Fekola’s AISC per ounce are anticipated to extend in 2021 (in comparison with 2020 steering of $555 – $595 per ounce), primarily because of the deliberate decrease manufacturing and better interval stripping actions at Fekola, and better forecast gas prices, import duties and ongoing COVID-19 associated labour and medical prices.

For 2021, the Fekola Mine is budgeted to course of a complete of seven.75 million tonnes of ore, at a median grade of two.32 g/t and course of gold restoration of 94%. With Section 4 of the Fekola Pit accomplished in 2020, ore is scheduled to be sourced from Section 5 and 6 of the Fekola Pit in 2021 along with current stockpiles. Because of the deliberate waste stripping and decrease mined ore grades within the first half of 2021, as Section 5 and 6 of the Fekola Pit are developed, manufacturing is predicted to be considerably weighted to the second half of 2021 (when mining reaches the upper grade portion of Section 5 of the Fekola Pit). For the primary half of 2021, Fekola’s gold manufacturing is predicted to be between 220,000 – 230,000 ounces, which is predicted to extend considerably to between 310,000 – 330,000 ounces through the second half of 2021. Primarily based primarily on the weighting of manufacturing and timing of waste stripping, Fekola’s money working prices are anticipated to be between $530 – $570 per ounce within the first half of 2021, earlier than considerably enhancing to between $315 – $355 per ounce through the second half of 2021. As well as, Fekola’s AISC are anticipated to be between $850 – $890 per ounce within the first half of 2021, earlier than considerably enhancing to between $670 – $710 per ounce through the second half of 2021.

Sustaining capital prices in 2021 on the Fekola Mine are budgeted to complete $86 million, together with $58 million for pre-stripping (improvement of Section 5 and 6 of the Fekola Pit), $15 million for cellular tools rebuilds and $4 million for pit dewatering infrastructure and tools. Non-sustaining capital prices are budgeted to complete $8 million to finish the solar energy plant (excluding the damages associated to the hearth).

Masbate Gold Mine – the Philippines

The Masbate Mine in the Philippines is predicted to supply between 200,000 – 210,000 ounces of gold in 2021 at money working prices of between $650 – $690 per ounce and AISC of between $955 – $995 per ounce (corresponding to 2020). For 2021, Masbate is budgeted to course of a complete of 8.0 million tonnes of ore at a median grade of 1.10 g/t and course of gold restoration of 73.4%. Mill feed is budgeted to consist primarily of recent ore (88%), sourced from the Predominant Vein Pit (Stage 4 and 6) and the Montana Pit. Masbate’s gold manufacturing is scheduled to be comparatively constant all through 2021.

Sustaining capital prices in 2021 on the Masbate Mine are budgeted to complete $29 million, together with $9 million for cellular fleet rebuilds and replacements, $5 million for a tailings water therapy plant, $3 million for pre-stripping and $3 million for energy plant rebuilds. Non-sustaining capital prices are budgeted to complete $9 million.

Otjikoto Gold Mine – Namibia

The Otjikoto Mine in Namibia is predicted to supply between 190,000 – 200,000 ounces of gold in 2021, a major improve of roughly 16% (in comparison with 168,041 ounces produced in 2020), and is within the vary of Otjikoto’s annual manufacturing report (of 191,534 ounces achieved in 2017), as high-grade ore is scheduled to be sourced from Section 3 of the Wolfshag Pit within the second half of 2021. Otjikoto’s money working prices are forecast to be between $480 – $520 per ounce and AISC to be between $830 – $870 per ounce. Otjikoto’s AISC per ounce are anticipated to lower in 2021 (in comparison with 2020 steering of between $1,010 – $1,050 per ounce), primarily as a result of larger manufacturing and decrease capitalized pre-stripping prices forecast at Otjikoto in 2021, partially offset by the price of ore stockpiles drawn within the 12 months.

For 2021, Otjikoto is budgeted to course of a complete of three.4 million tonnes of ore at a median grade of 1.77 g/t with course of gold restoration of 98%. Mining actions are scheduled to give attention to waste stripping in Section 3 of the Wolfshag Pit and Section 3 of the Otjikoto Pit within the first half of 2021. Within the first half of 2021, ore is scheduled to be sourced primarily from medium grade stockpiles, leading to a median head grade of roughly 0.87 g/t within the first half of 2021, in comparison with a head grade of roughly 2.67 g/t within the second half of 2021 when excessive grade ore from Section 3 of the Wolfshag Pit is out there.

The Wolfshag ore zone is slender and excessive grade, with pit and section strip ratios that lead to a extremely variable gold manufacturing profile. Roughly 70% of the gold produced in 2021 is predicted to be mined from Section 3 of the Wolfshag Pit, (with materials ore manufacturing beginning early within the third quarter of 2020 following the waste stripping marketing campaign). Because of the timing of this high-grade ore mining, Otjikoto’s manufacturing is predicted to be considerably weighted to the second half of 2021. For the primary half of 2021, Otjikoto’s gold manufacturing is predicted to be between 45,000 – 50,000 ounces, which is predicted to extend considerably to between 145,000 – 150,000 ounces through the second half of 2021. Primarily based primarily on the weighting of the deliberate manufacturing and timing of upper waste stripping, Otjikoto’s money working prices are anticipated to be between $940 – $980 per ounce within the first half of 2021, earlier than considerably enhancing to between $330 – $370 per ounce through the second half of 2021. As well as, Otjikoto’s AISC are anticipated to be between $1,600 – $1,640 per ounce within the first half of 2021, earlier than considerably enhancing to between $580 – $620 per ounce through the second half of 2021. Within the first quarter of 2021, forecast gold manufacturing at Otjikoto is decrease and forecast prices are larger than the second quarter of 2021, because of the vital quantity of waste stripping and decrease stockpile grades processed early within the 12 months.

Otjikoto’s larger 2021 gold manufacturing degree of between 190,000 – 200,000 ounces is predicted to proceed by to 2024, as manufacturing from Wolfshag underground is predicted to start in early 2022 and can complement ore from the Otjikoto Pit in addition to current medium and low-grade stockpiles for about three years based mostly on present estimates.

Sustaining capital prices in 2021 on the Otjikoto Mine are budgeted to complete $44 million, together with $36 million for capitalized pre-stripping and $7 million for cellular tools rebuilds and tools purchases. Non-sustaining capital prices are budgeted to complete $33 million, together with $26 million for improvement of the Wolfshag underground venture and $7 million for a connection to the nationwide energy grid, initially deliberate for 2020, and delayed as a result of COVID-19. The delay in connecting to the nationwide energy grid to 2021 shouldn’t be anticipated to impression the focused commissioning date of the Wolfshag underground mine.

Improvement of the Wolfshag underground mine continues to progress properly and on schedule. This venture is predicted to deliver ahead manufacturing of high-grade ore from the Wolfshag deposit and cut back manufacturing prices. The mine improvement can even present entry for down-plunge and parallel exploration and has been designed to assist future expansions. Mission spending is at present estimated to complete $57 million (of which $26 million is budgeted to be incurred in 2021) from completion of the interior examine to manufacturing of stope ore. Portal improvement was accomplished in 2020, and actions in 2021 will give attention to horizontal and vertical improvement to supply stope ore within the first quarter of 2022. The present Wolfshag underground Mineral Reserve estimate consists of 1.2 million tonnes of ore at a median grade of 5.57 g/t, for a complete of 210,000 contained ounces of gold.

2021 Gramalote Mission Funds (B2Gold – 50%/AngloGold Ashanti Restricted – 50%) – Colombia

The preliminary 2021 funds for the Gramalote Mission in Colombia is $52 million (B2Gold’s 50% share is $26 million) for the continued improvement of the venture, together with continued environmental and social actions supporting native communities. The Gramalote funds additionally consists of $9 million for exploration in 2021. This follows a profitable infill drill program in 2020 which supported an up to date useful resource mannequin, offering the idea for Gramalote’s Feasibility Examine. A complete of 18,000 metres of diamond drilling is deliberate in 2021. This consists of 8,000 metres for additional drilling at Gramalote Ridge and 10,000 metres at two satellite tv for pc deposits (Trinidad and Monjas West), that are proximal to the deliberate infrastructure.

Gramalote’s 2021 funds consists of venture improvement as much as the feasibility completion and development choice level within the second quarter of 2021, and due to this fact doesn’t embrace early works or development prices, similar to mobilization and pioneering. A separate development funds is predicted to be developed for the second half of 2021, based mostly on a optimistic Gramalote Feasibility Examine and development choice.

Kiaka Mission Funds – Burkina Faso

The Firm is at present updating the prevailing feasibility examine for the Kiaka Mission in Burkina Faso, because of the potential for improved economics ensuing from decrease gas costs, different energy choices and a better gold value. An up to date useful resource mannequin was accomplished in December 2019, offering the idea for detailed mining and processing schedules. Preliminary evaluations have indicated an optimum processing price of 12 Mtpa. Engineering of the plant, infrastructure, open pit, dumps, stockpiles, and the tailing storage facility are underway. The Firm expects to have accomplished an up to date financial evaluation of the venture for inner overview accomplished by the tip of the primary quarter of 2021, adopted by the up to date feasibility examine by mid-year 2021. The 2021 funds for the Kiaka Mission is $5.4 million.

2021 Exploration Steerage

Following a really profitable 12 months for exploration in 2020, B2Gold is planning one other 12 months of aggressive exploration in 2021 with a funds of roughly $66 million (excludes drilling included within the Gramalote Mission funds). Exploration will focus predominantly in Mali, different working mine websites in Namibia and the Philippines, in addition to expanded give attention to grassroots targets around the globe. A few years of goal era and pursuing alternatives in potential gold areas has culminated within the Firm allocating a report $25 million for its grassroots exploration packages, together with plenty of new areas.

West African Exploration

In 2021, roughly $27 million is budgeted to be spent on exploration in Mali, specializing in the Anaconda space, Cardinal/FMZ and Fekola North. A complete of 98,500 meters of diamond and reverse circulation drilling is deliberate.

The Firm plans to proceed specializing in upgrading and increasing the prevailing saprolite Mineral Useful resource estimate of 21.6 million tonnes at 1.11 g/t for 770,000 ounces within the Anaconda space. An up to date saprolite Mineral Useful resource estimate based mostly on the finished 2020 drill program is predicted within the first quarter of 2021 and can feed into engineering research at present underway. This estimate can even embrace an preliminary Mineral Useful resource estimate on the sulphide materials beneath the saprolite. This sulphide mineralization will proceed to be adopted up in 2021. There are a number of different prospects within the Anaconda space the place attainable Fekola-style mineralization has been intersected in recent rock which shall be drilled in 2021. 

Nearer to Fekola, an preliminary Mineral Useful resource estimate for Cardinal is predicted to be accomplished within the first quarter of 2021. Grade management drilling is underway at a portion of this accretion to allow ore to be mined for processing on the Fekola plant within the second quarter of 2021, topic to acquiring all obligatory permits. Ongoing exploration drilling can even give attention to infilling the high-grade parts of Cardinal and prolong these down plunge. Drilling at Fekola North can even proceed to trace the primary Fekola construction north of the prevailing open pit.

A complete of $2.5 million is deliberate in different areas of West Africa, leveraging off the appreciable geological expertise gained at Fekola. This funds consists of establishing an exploration presence and pursuing alternatives within the extremely potential and under-explored nation of Cote d’Ivoire.

Masbate Exploration

The Masbate exploration funds for 2021 is roughly $6.3 million, together with roughly 15,000 metres of drilling. The 2021 exploration program will observe up the place 2020 drilling intersected larger grades in beforehand low-grade areas that had been sparsely drilled. It can additionally give attention to drill testing probably the most potential inferred mineral useful resource areas beneath current design pits to find out if current open pits may be expanded because of larger gold costs. A number of grassroot greenfield targets shall be additional examined as properly.

Namibia Exploration

The entire exploration funds for Namibia in 2021 is roughly $4.8 million. Exploration in 2021 will embrace 25,000 metres of diamond drilling and three,200 metres of RAB drilling break up between Otjikoto Mission and the Ondundu three way partnership, situated roughly 200 kilometres southwest of Otjikoto. The vast majority of the diamond drilling will goal the extension of the prevailing Wolfshag underground useful resource space and a lone drillhole intersection greater than 700 metres down plunge. A number of new zones situated parallel to and east of Wolfshag with the potential to boost the underground venture can even be examined.

Grassroots Exploration

B2Gold has allotted roughly $25 million in 2021 for its grassroots exploration packages, together with Finland, Uzbekistan and plenty of new areas.

In Finland, the Firm has allotted $4.8 million to the Central Lapland joint Enterprise with Aurion Gold. Most importantly, the westward extension of Rupert Sources’ Ikarri discovery traits instantly onto the three way partnership floor.  This pattern coincides with B2Gold’s base-of-till (BOT) drilling and the identical interpreted construction as outlined by airborne geophysics.

In Uzbekistan, the Firm has allotted $5 million to advance exploration on the bottom acquired in proximity to the world class Muruntau super-mine. Exploration in 2020, mapping, RAB drilling and trenching recognized a number of targets on constructions and lithologies which have the identical alteration and geochemical traits as Muruntau. Reverse circulation and diamond drilling are deliberate in 2021.

As well as, the Firm has allotted roughly $15 million for a number of different greenfield targets at present being pursued.

Liquidity and Capital Sources

B2Gold maintains a powerful monetary place and liquidity. Through the third quarter of 2020, the Firm totally repaid the excellent Revolving Credit score Facility (“RCF”) steadiness of $425 million with the total quantity of the $600 million RCF now undrawn and obtainable. As well as, at December 31, 2020, the Firm had money and money equivalents of roughly $480 million.

As a result of Firm’s sturdy internet optimistic money place, sturdy working outcomes and the present larger gold value setting, B2Gold’s quarterly dividend price was elevated within the third quarter of 2020 by 100% to $0.04 per widespread share (or an annualized price of $0.16 per widespread share), one of many highest dividend yields within the gold sector.

The Firm has not but finalized its 2020 monetary outcomes. Nonetheless, for the 12 months ended December 31, 2020, the Firm expects to have generated cashflows from operations of roughly $950 million.

In 2021 and based mostly on present assumptions together with a median gold value of $1,800 per ounce, the Firm expects to generate cashflows from working actions of roughly $630 million. The Firm’s 2021 working cashflows are anticipated to be decrease than 2020, primarily as a result of decrease manufacturing, larger money working prices and better money tax funds (primarily for Fekola, for the anticipated settlement of its remaining 2020 revenue tax liabilities of roughly $75 million on the time of submitting its tax return in April 2021 and for the fee of the 2020 precedence dividend to the Mali authorities of roughly $50 million anticipated in mid-year 2021).

Environmental, Social and Governance Dedication

B2Gold is dedicated to delivering optimistic impacts in environmental, social and governance (“ESG”) with our many stakeholders. In 2020, in Mali, Namibia, the Philippines, Colombia and Canada, B2Gold supplied roughly $4 million in monetary help to the native communities and the native and nationwide authorities, together with Cdn. $1 million within the Vancouver space, in response to the COVID-19 pandemic. We proceed to observe COVID-19 throughout all our operations and work to make sure the well being and security of our workers and communities.

B2Gold was chosen because the recipient of two prestigious mining business awards in 2020 for its dedication to sustainable mining and improvement: the Prospectors & Builders Affiliation of Canada’s “2021 Sustainability Award” and the Mining Journal’s “2020 Most Sustainable Miner Award”. B2Gold is honoured and challenged by this recognition to work to repeatedly enhance our efficiency and keep our social license to function.

B2Gold is happy to announce that in 2021 it plans to use for membership to the World Gold Council. The World Gold Council is the worldwide authority on the gold market comprised of the world’s main gold mining corporations. The World Gold Council can also be a pacesetter in accountable mining by its Accountable Gold Mining Ideas, a complete framework that addresses key environmental, social and governance points for the gold mining sector.

Extra data on B2Gold’s ESG administration and efficiency, in addition to its security efficiency and financial contributions throughout its operations may be discovered within the Firm’s annual accountable mining report, “Elevating the Bar”.

Outlook

B2Gold had one other exceptional 12 months of sturdy development in 2020, marking the twelfth consecutive 12 months of report annual gold manufacturing. The Firm’s complete gold manufacturing for 2020 was an annual report of 1,040,737 ounces, and consolidated gold manufacturing from the Firm’s three working mines was an annual report of 995,258 ounces of gold. As a result of Firm’s sturdy internet optimistic money place, sturdy working outcomes and the present larger gold value setting, B2Gold’s quarterly dividend price was elevated within the third quarter of 2020 by 100% to $0.04 per widespread share (or an annualized price of $0.16 per widespread share), one of many highest dividend yields within the gold sector.

Wanting ahead to 2021, B2Gold stays properly positioned for continued sturdy operational and monetary efficiency with complete gold manufacturing steering of between 970,000 – 1,030,000 ounces in 2021, complete consolidated money working prices forecast to be between $500 – $540 per ounce and complete consolidated AISC forecast to be between $870 – $910 per ounce. The Firm’s consolidated gold manufacturing from its three working mines is forecast to be between 920,000 – 970,000 ounces in 2021 (in keeping with the Firm’s five-year outlook from 2020 to 2024 for annual consolidated gold manufacturing, anticipated to common 950,000 ounces with AISC averaging $825 per ounce, based mostly on present working plans). The Firm’s 2021 manufacturing steering doesn’t, nevertheless, embrace the potential upside to extend Fekola’s gold manufacturing in 2021 from extra mining areas and processing capability at present being investigated.

In reference to advancing the Firm’s pipeline of improvement tasks, the Firm expects to announce the outcomes of the Feasibility Examine for the Gramalote Mission in Colombia in April 2021, with a development choice anticipated to be made shortly thereafter. Primarily based on the optimistic outcomes from Gramalote’s Up to date Preliminary Financial Evaluation (launched on January 21, 2020), B2Gold believes that the Gramalote Mission has the potential to develop into a big, low-cost open-pit gold mine (topic to the outcomes of a remaining feasibility examine). The Firm is at present updating the prevailing feasibility examine for the Kiaka Mission in Burkina Faso, because of the potential for improved economics ensuing from decrease gas costs, different energy choices and a better gold value. The Firm expects to have accomplished an up to date financial evaluation of the Kiaka Mission by the tip of the primary quarter of 2021 for inner overview, adopted by the up to date feasibility examine by mid-year 2021.

Following a really profitable 12 months for exploration in 2020, B2Gold is planning a 12 months of aggressive exploration in 2021 with a funds of roughly $66 million (excluding Gramalote). Exploration will focus predominantly in Mali, different working mine websites in Namibia and the Philippines, together with a report $25 million allotted to the Firm’s ongoing grassroots exploration packages around the globe.

The Firm is targeted on upgrading and increasing the prevailing saprolite sources on the Anaconda space in Mali (situated 20 kilometres north of Fekola), with an up to date mineral useful resource estimate anticipated within the first quarter of 2021, which is able to feed into engineering research at present underway. This useful resource estimate can even embrace the preliminary mineral useful resource estimate on the sulphide materials beneath the saprolite. There are a number of different prospects within the Anaconda space the place attainable Fekola-style mineralization has been intersected in recent rock which shall be drilled in 2021.

An preliminary mineral useful resource estimate is predicted to be accomplished for the Cardinal zone (situated inside 500 metres of the present Fekola useful resource pit) within the first quarter of 2021, and grade management drilling is already underway at a portion of this accretion to allow ore to be mined for processing on the Fekola plant within the second quarter of 2021. Ongoing exploration drilling can even give attention to infilling the high-grade parts of the Cardinal zone and prolong these down plunge. Drilling at Fekola North can even proceed to trace the primary Fekola construction north of the prevailing open pit.

The Firm’s ongoing technique is to proceed to maximise worthwhile manufacturing from its mines, additional advance its pipeline of improvement and different exploration tasks, consider alternatives and proceed to pay a dividend.

About B2Gold Corp.

B2Gold is a low-cost worldwide senior gold producer headquartered in Vancouver, Canada. Based in 2007, immediately, B2Gold has working gold mines in Mali, Namibia and the Philippines and quite a few exploration and improvement tasks in numerous nations together with Mali, Colombia and Burkina Faso. B2Gold forecasts complete consolidated gold manufacturing of between 970,000 and 1,030,000 ounces in 2021.

Certified Individuals

Invoice Lytle, Senior Vice President of Operations, a professional particular person beneath Nationwide Instrument 43-101, has accredited the scientific and technical data contained on this information launch.

Fourth Quarter and 12 months-end 2020 Monetary Outcomes – Convention Name Particulars

B2Gold will launch its fourth quarter and year-end 2020 monetary outcomes after the North American markets shut on Tuesday, February 23, 2021.

B2Gold executives will host a convention name to debate the outcomes on Wednesday, February 24, 2021, at 10:00 am PDT/1:00 pm EDT. It’s possible you’ll entry the decision by dialing the operator at +1 (647) 427-7450 (native or worldwide) or toll free at +1 (888) 231-8191 previous to the scheduled begin time or you could take heed to the decision through webcast by clicking: https://www.webcaster4.com/Webcast/Page/1493/39662. A playback model shall be obtainable for 2 weeks after the decision at +1 (416) 849-0833 (native or worldwide) or toll free at +1 (855) 859-2056  (passcode 9676547).

ON BEHALF OF B2GOLD CORP.

“Clive T. Johnson”                                                    
President and Chief Govt Officer                                 

For extra data on B2Gold please go to the Firm web site at www.b2gold.com or contact:

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

Manufacturing outcomes and manufacturing steering introduced on this information launch replicate complete manufacturing on the mines B2Gold operates on a 100% venture foundation. Please see our Annual Data Kind dated March 20, 2020 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”) inside the which means of relevant Canadian and United States securities laws, together with: projections; outlook; steering; 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; the impression of the COVID-19 pandemic on B2Gold’s operations, together with any restrictions or suspensions with respect to our operations and the impact of any such restrictions or suspensions on our monetary and operational outcomes; the flexibility of the Firm to efficiently keep our operations if they’re briefly suspended, and to restart or ramp-up these operations effectively and economically, the impression of COVID-19 on the Firm’s workforce, suppliers and different important sources and what impact these impacts, in the event that they happen, would have on our enterprise, our deliberate capital and exploration expenditures; 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, improvement, development, allowing and different actions or achievements of B2Gold; and together with, with out limitation: B2Gold producing working cashflows of roughly $950 million in 2020 and $630 million in 2021; remaining properly positioned for continued sturdy operational and monetary efficiency for 2021; projected gold manufacturing, money working prices and AISC on a consolidated and mine by mine foundation in 2021, together with manufacturing being weighted closely to the second half of 2021; complete consolidated money working prices for 2020 being between $415 and $455 per ounce and at AISC of between $780 and $820 per ounce; complete consolidated gold manufacturing of between 970,000 and 1,030,000 ounces in 2021 with money working prices of between $500 and $540 per ounce and AISC of between $870 and $910 per ounce; the Firm’ annual consolidated gold manufacturing to common 950,000 ounces of gold per 12 months between 2020 and 2024 with AISC averaging $825 per ounce; the flexibility of the Fekola mill to run above the annualized throughput price of seven.5 Mtpa; the anticipated value, timing and outcomes for the addition of a photo voltaic plant to the Fekola Mine, together with the completion of development by the tip of the third quarter of 2021, contingent on receiving replacements for the broken elements; the completion of an up to date mineral useful resource estimate for the Anaconda space within the first quarter of 2021; the completion of an preliminary mineral useful resource estimate on the Cardinal zone within the first quarter of 2021; the event of the Wolfshag underground mine at Otjikoto, together with the outcomes of such improvement and the prices and timing thereof; stope ore manufacturing on the Wolfshag underground mine at Otjikoto commencing in early 2022; the completion of the Gramalote Feasibility Examine within the second quarter of 2021 and the outcomes therein, and a development choice to be made shortly thereafter; the completion of an inner financial evaluation of the Kiaka venture by the tip of the primary quarter of 2021 and up to date feasibility examine by mid-year 2021; the settlement in 2021 of the Firm’s remaining 2020 revenue tax liabilities of roughly $75 million (on the time of submitting its tax return in April 2021) and for the fee of the 2020 precedence dividend to the Mali authorities of roughly $50 million anticipated in mid-year 2021; the potential fee of future dividends, together with the timing and quantity of any such dividends, and the expectation that quarterly dividends shall be maintained on the identical degree; the provision of the RCF for future drawdowns; and B2Gold’s attributable share at El Limon and La Libertad. All statements on this information launch that deal with 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 usually, though not all the time, recognized by phrases similar to “count on”, “plan”, “anticipate”, “venture”, “goal”, “potential”, “schedule”, “forecast”, “funds”, “estimate”, “intend” or “imagine” and related expressions or their damaging connotations, or that occasions or circumstances “will”, “would”, “might”, “may”, “ought to” or “would possibly” 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 period and extent of the COVID-19 pandemic, the effectiveness of preventative measures and contingency plans put in place by the Firm to answer the COVID-19 pandemic, together with, however not restricted to, social distancing, a non-essential journey ban, enterprise continuity plans, and efforts to mitigate provide chain disruptions; escalation of journey restrictions on folks or merchandise and reductions within the means of the Firm to move and refine doré; the volatility of steel costs and B2Gold’s widespread shares; modifications in tax legal guidelines; the risks inherent in exploration, improvement and mining actions; the uncertainty of reserve and useful resource estimates; not attaining manufacturing, value 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 keep any obligatory permits, consents or authorizations required for mining actions; environmental laws or hazards and compliance with complicated laws related to mining actions; local weather change and local weather change laws; the flexibility to switch mineral reserves and establish acquisition alternatives; the unknown liabilities of corporations acquired by B2Gold; the flexibility to efficiently combine new acquisitions; fluctuations in alternate charges; the provision of financing; financing and debt actions, together with potential restrictions imposed on B2Gold’s operations in consequence thereof and the flexibility to generate ample money flows; operations in international and creating nations and the compliance with international legal guidelines, together with these related to operations in Mali, Namibia, the Philippines, Colombia and Burkina Faso and together with dangers associated to modifications in international legal guidelines and altering insurance policies associated to mining and native possession necessities or useful resource nationalization usually, together with in response to the COVID-19 outbreak; distant operations and the provision of ample infrastructure; fluctuations in value and availability of vitality and different inputs obligatory for mining operations; shortages or value will increase in obligatory 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 shortage of sole decision-making authority associated to Filminera Sources Company, which owns the Masbate Mission; 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 danger; competitors with different mining corporations; neighborhood assist for B2Gold’s operations, together with dangers associated to strikes and the halting of such operations once in a while; conflicts with small scale miners; failures of knowledge methods or data safety threats; the flexibility to take care of ample inner controls over monetary reporting as required by regulation, 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 popularity; dangers affecting Calibre having an impression 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 Components” in B2Gold’s most up-to-date Annual Data Kind, B2Gold’s present Kind 40-F Annual Report and B2Gold’s different filings with Canadian securities regulators and the U.S. Securities and Trade Fee (the “SEC”), which can be seen at www.sedar.com and www.sec.gov, respectively (the “Web sites”). The listing shouldn’t be exhaustive of the components which will have an effect on B2Gold’s forward-looking statements

B2Gold’s forward-looking statements are based mostly on the relevant assumptions and components administration considers cheap as of the date hereof, based mostly on the data obtainable to administration at such time. These assumptions and components embrace, however will not be restricted to, assumptions and components associated to B2Gold’s means to hold on present and future operations, together with: the period and results of COVID-19 on our operations and workforce; improvement 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 fulfill or obtain estimates, projections and forecasts; the provision and value of inputs; the worth and marketplace for outputs, together with gold; international alternate charges; taxation ranges; the well timed receipt of obligatory 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 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 regulation. There may be no assurance that forward-looking statements will show to be correct, and precise outcomes, efficiency or achievements may differ materially from these expressed in, or implied by, these forward-looking statements. Accordingly, no assurance may 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 beneath Worldwide Monetary Reporting Requirements (“IFRS”), together with “money working prices” and “all-in sustaining prices” (or “AISC”). Non-IFRS measures don’t have any standardized which means prescribed beneath IFRS, and due to this fact they is probably not corresponding to related measures employed by different corporations. The information introduced is meant to offer extra data and shouldn’t be thought of in isolation or as an alternative to measures of efficiency ready in accordance with IFRS and needs to be learn together with B2Gold’s consolidated monetary statements. Readers ought to confer with B2Gold’s Administration Dialogue and Evaluation, obtainable on the Web sites, beneath 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 Be aware to United States Traders
The disclosure on this information launch was ready in accordance with Canadian Nationwide Instrument 43-101 (“NI 43-101”), which differs considerably from the present necessities of the SEC set out in Trade Information 7. Accordingly, such disclosure is probably not corresponding to related data made public by corporations that report in accordance with Trade Information 7. Specifically, this information launch might confer with “mineral sources,” “indicated mineral sources” or “inferred mineral sources”. Whereas these classes of mineralization are acknowledged and required by Canadian securities legal guidelines, they aren’t acknowledged by Trade Information 7 and haven’t traditionally been permitted to be disclosed in SEC filings by U.S. corporations topic to Trade Information 7. U.S. buyers are cautioned to not assume that any a part of a “mineral useful resource,” “indicated mineral useful resource” or “inferred mineral useful resource” will ever be transformed right into a “reserve.” As well as, this information launch makes use of the phrases “reserves” and “mineral reserves” that are reported by the Firm beneath Canadian requirements and will not qualify as reserves beneath Trade Information 7. Below Trade Information 7, mineralization is probably not categorized as a “reserve” except the mineralization may be economically and legally extracted or produced on the time the “reserve” willpower is made. Accordingly, data contained or referenced on this information launch containing descriptions of the Firm’s mineral deposits is probably not suitable to related data made public by U.S. corporations topic to the reporting and disclosure necessities of Trade Information 7. “Inferred mineral sources” have a large amount of uncertainty as to their existence and nice uncertainty as to their financial and authorized feasibility. It can’t be assumed that every one or any a part of an inferred mineral useful resource will ever be upgraded to a better class. Disclosure of “contained ounces” in a useful resource is permitted disclosure beneath Canadian reporting requirements; nevertheless, Trade Information 7 usually solely permits issuers to report mineralization that doesn’t represent “reserves” by Trade Information 7 requirements as in-place tonnage and grade regardless of unit measures. Additional, whereas NI 43-101 permits corporations to reveal financial projections contained in preliminary financial assessments and pre-feasibility research, which aren’t based mostly on “reserves”, U.S. corporations topic to Trade Information 7 haven’t usually been permitted to reveal financial projections for a mineral property of their SEC filings previous to the institution of “reserves.” Historic outcomes or feasibility fashions introduced herein will not be ensures or expectations of future efficiency.

SOURCE B2Gold Corp.