• Complete gold manufacturing of 180,553 ounces : Complete 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 tools productiveness and inclement climate all through the quarter that diminished the mined volumes of high-grade ore. Harm to an excavator and the following want for alternative tools impacted tools availability at Fekola, lowering tonnes mined within the first and second quarters of 2024, which affected the supply of higher-grade ore for the third quarter of 2024. Masbate and Otjikoto each continued to outperform expectations within the third quarter.
• Complete consolidated money working prices of   $1,061   per gold ounce produced : Complete consolidated money working prices ( see “Non-IFRS Measures” ) had been $1,061 per gold ounce produced in the course of the third quarter of 2024. Complete 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.
• Complete consolidated all-in sustaining prices of $1,650 per gold ounce bought : Complete consolidated all-in sustaining prices (see “Non-IFRS Measures” ) had been $1,650 per gold ounce bought for the third quarter of 2024. Complete consolidated all-in sustaining prices of $1,405 per gold ounce bought 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 as a result of a non-cash impairment cost on the Goose Undertaking on account of the beforehand introduced development capital will increase (see “Goose Undertaking 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 continued operation and governance of the Fekola Complicated.
• Working money move earlier than working capital changes of $118 million : Money move offered by working actions earlier than working capital changes was $118 million within the third quarter of 2024.
• Robust 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 Undertaking development and growth stays on schedule for first gold pour in Q2 2025 : All deliberate development 12 months to this point in 2024 has been accomplished and challenge development and growth continues to progress on monitor for first gold pour on the Goose Undertaking within the second quarter of 2025 adopted by a ramp as much as business 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 further vans for the 2025 Winter Ice Highway (“WIR”) marketing campaign to the Marine Laydown Space (“MLA”) from world areas.
• Memorandum of Understanding with the State of Mali referring to the Fekola Complicated: 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 continued operation and governance of the Fekola Complicated, together with the event of each the underground challenge on the Fekola Mine (owned 80% by B2Gold and 20% by the State of Mali) and Fekola Regional. Beneath 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 start in early 2025, with the potential to generate roughly 80,000 to 100,000 ounces of further gold manufacturing per 12 months from Fekola Regional sources by the trucking of open pit ore to the Fekola mill. Preliminary gold manufacturing from Fekola underground is anticipated to start 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 essentially the most immediately comparable measures specified, outlined or decided below IFRS and offered within the Firm’s monetary statements, consult with “Non-IFRS Measures”.}

Liquidity and Capital Sources

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). Through 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 accessible 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 carried out 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% shall be utilized to calculate the Common Market Value (as outlined within the DRIP) of its widespread shares issued from treasury. Nonetheless, the Firm might, every so often, in its discretion, change or get rid of any relevant low cost, which might be publicly introduced, all in accordance with the phrases and situations of the DRIP. Participation within the DRIP is non-compulsory. As a way 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. Helpful shareholders who want to take part within the DRIP ought to contact their monetary advisor, dealer, funding vendor, financial institution, monetary establishment, or different middleman by which they maintain widespread shares nicely upfront of the above date for directions on find out how to enroll within the DRIP.

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

The declaration and cost of future dividends and the quantity of any such dividends shall be topic to the dedication of the Board, in its sole and absolute discretion, bearing in mind, amongst different issues, financial situations, enterprise efficiency, monetary situation, progress plans, anticipated capital necessities, compliance with B2Gold’s constating paperwork, all relevant legal guidelines, together with the foundations and insurance policies of any relevant inventory alternate, in addition to any contractual restrictions on such dividends, together with any agreements entered into with lenders to the Firm, and another elements that the Board deems acceptable on the related time. There may be no assurance that any dividends shall be paid on the supposed fee or in any respect sooner or later.

For extra data concerning the DRIP and enrollment within the DRIP, please consult with the Firm’s web site at https://www.b2gold.com/buyers/stock_info/ .

This information launch doesn’t represent a proposal to promote or the solicitation of a proposal to purchase securities in any jurisdiction nor will there be any sale of those securities in any province, state or jurisdiction wherein 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 Change Fee which may be obtained below the Firm’s profile on the U.S. Securities and Change Fee’s web site at http://www.sec.gov/EDGAR or by contacting the Firm utilizing the contact data on the finish of this information launch.

Operations

Fekola Complicated – Mali

^{(1) Non-IFRS measure. For an outline of how these measures are calculated and a reconciliation of those measures to essentially the most immediately comparable measures specified, outlined or decided below IFRS and offered 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 tools 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 following want for alternative tools impacted tools 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 supply of higher-grade ore of Part 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 complete third quarter of 2024. The discount in mining charges skilled within the first 9 months of 2024 is anticipated to proceed to impression the supply of higher-grade ore from Part 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 brief 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 had been $1,434 per gold ounce produced ($1,393 per gold ounce bought). Money working prices per gold ounce produced for the third quarter of 2024 had been increased than anticipated on account of decrease than anticipated gold manufacturing in the course of the third quarter, partially offset by decrease gasoline prices, increased mill throughput, increased gold restoration and decrease mining prices as a result of decrease than anticipated mined tonnage.

All-in sustaining prices (see “Non-IFRS Measures” ) for the third quarter of 2024 had been $2,287 per gold ounce bought. All-in sustaining prices had been increased than anticipated on account of increased than anticipated manufacturing prices per gold ounce bought, decrease than anticipated gold ounces bought, increased 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 cell tools 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 growth. All photo voltaic panels, inverters, transformers and the monitoring system have been put in for the photo voltaic plant growth and the photo voltaic area was energized on September 29, 2024. Commissioning has continued with remaining completion of the photo voltaic plant growth anticipated by the tip of November 2024.

On account of the delay in accessing higher-grade ounces from Part 7 of the Fekola pit, manufacturing from the Fekola Complicated 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 Complicated 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 show optimistic economics by the enhancement of the general manufacturing profile and the extension of mine lifetime of the Fekola Complicated. Based mostly 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 fee 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 continued operation and governance of the Fekola Complicated, together with the event of each the underground challenge on the Fekola Mine and Fekola Regional. Beneath 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 start in early 2025, with the potential to generate roughly 80,000 to 100,000 ounces of further gold manufacturing per 12 months from Fekola Regional sources by the trucking of open pit ore to the Fekola mill. Preliminary gold manufacturing from Fekola underground is anticipated to start 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 essentially the most immediately comparable measures specified, outlined or decided below IFRS and offered within the Firm’s monetary statements, consult with “Non-IFRS Measures”.}

The Masbate Mine within the Philippines continued its sturdy efficiency with third quarter of 2024 gold manufacturing of fifty,215 ounces, above expectations as a result of increased 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 further decrease restoration high-grade sulphide ore in the course of the third quarter. Precise gold restoration for the third quarter of 2024 remained according to modeled restoration values for the ore mined.

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

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

Capital expenditures within the third quarter of 2024 totalled $5 million, primarily consisting of $2 million for cell tools purchases and rebuilds and $1 million for growth 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 essentially the most immediately comparable measures specified, outlined or decided below IFRS and offered within the Firm’s monetary statements, consult with “Non-IFRS Measures”.}

The Otjikoto Mine in Namibia, wherein 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 increased 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 had been $740 per gold ounce produced ($742 per ounce gold bought). Money working prices per gold ounce produced for the third quarter of 2024 had been decrease than anticipated as a result of increased than anticipated gold manufacturing within the third quarter of 2024.

All-in sustaining prices (see “Non-IFRS Measures” ) for the third quarter of 2024 had been $896 per gold ounce bought. All-in sustaining prices for the third quarter of 2024 had been decrease than anticipated on account of decrease than anticipated money working prices and better gold ounces bought, partially offset by increased gold royalties as a result 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 Undertaking Growth

The Again River Gold District consists of 5 mineral claims blocks alongside an 80 km belt. Development is underway on the most superior challenge within the district, the Goose Undertaking, and has been de-risked with vital 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 challenge in a fashion that acknowledges Inuit priorities, addresses considerations, and brings long-term socio-economic advantages to the Kitikmeot Area. B2Gold appears ahead to persevering with to construct on its sturdy collaboration with the KIA and Kitikmeot Communities.

As introduced in Might 2024, growth of the open pit and underground was barely not on time as a result of tools availability (commissioning and availability of the open pit tools), antagonistic climate situations and the prioritization of important path development actions. A further 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 enough 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 shall 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 enhance to be in extra of 310,000 ounces per 12 months. The Firm stays on monitor to finish an up to date Goose Undertaking lifetime of mine plan by the tip 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 Undertaking. All deliberate development 12 months to this point in 2024 has been accomplished and challenge development and growth continues to progress on monitor for first gold pour on the Goose Undertaking within the second quarter of 2025 adopted by ramp as much as business 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 further vans for the 2025 WIR marketing campaign to the MLA from world areas. Sealift offloading efficiency considerably elevated all through the 2024 sealift as a result of a newly constructed barge ramp. Present actions on the MLA now embody continued upkeep and preparation of the WIR development and haulage fleet and staging all supplies for cargo on the 2025 WIR to the Goose Undertaking web site.

Growth of the open pit and underground stay the Firm’s major focus to make sure that ample materials is offered for mill startup and that the Echo pit is offered 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 tip 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 Undertaking on development 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 whole Goose Undertaking development, mine growth, and sustaining capital money expenditures estimate (the “Complete Goose Undertaking Development and Mine Growth Value”) earlier than first gold manufacturing estimate is C$1,540 million, a C$290 million (or 23%) enhance from the earlier estimate from January 2024. Roughly 52% (or C$150 million) of the rise may be attributed to the one quarter delay in first gold manufacturing beforehand disclosed, mixed with the acceleration of capital gadgets that had been beforehand anticipated to happen after first gold manufacturing. The acceleration of sure capital gadgets is anticipated to make the Goose Undertaking a extra dependable and de-risked operation upon mill startup. The accelerated capital gadgets embody accelerated purchases of mining tools versus the earlier estimate to make sure continued progress in mining charges by 2025, the constructing of an lodging advanced on the MLA which is able to scale back ongoing annual prices related to working the WIR, the development of important infrastructure on the Goose Undertaking web site, inclusive of warehousing, upkeep, mine dry facility, camp facility growth, 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 Complete Goose Undertaking Development and Mine Growth Value may be attributed to the elevated price of the logistics of delivery supplies to the Goose Undertaking web site.

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

Gramalote Undertaking Growth

On June 18, 2024, the Firm introduced the outcomes of a optimistic Preliminary Financial Evaluation(” PEA”) on its 100% owned Gramalote Undertaking 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 challenge life with a low-cost construction and favorable metallurgical traits. Moreover, the PEA outlines sturdy challenge economics with an after-tax NPV _5% of $778 million and an after-tax inside fee of return of 20.6%, with a challenge payback on pre-production capital of three.1 years.

The estimated pre-production capital price for the challenge is $807 million (together with roughly $93 million for mining tools and $63 million for contingency). A strong quantity of historic drilling and engineering research have been accomplished on the Gramalote Undertaking, which considerably de-risks future challenge growth. Based mostly on the optimistic outcomes from the PEA, B2Gold believes that the Gramalote Undertaking has the potential to change into a medium-scale, low-cost open pit gold mine.

B2Gold has commenced feasibility work with the purpose of finishing a feasibility examine by mid-2025 and a $10 million finances has been accepted 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 challenge is just not anticipated to be in depth. The primary work applications for the feasibility examine embody geotechnical and environmental web site investigations for the processing plant and waste dump footprints, in addition to capital and working price estimates.

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

Because of the desired modifications to the processing plant and infrastructure areas, a Modified Setting Influence Examine is required. B2Gold has commenced work on the modifications to the Setting Influence Examine and count on 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 Undertaking as an open pit gold mine, B2Gold would make the most of its confirmed inside mine development group to construct the mine and mill services.

Outlook

Complete 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 further 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 development actions on the Goose Undertaking, the mine is anticipated to start 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 Undertaking 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 Undertaking, 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 challenge economics over a 12.5 12 months challenge life. Because of this, B2Gold has commenced feasibility work with the purpose of finishing a feasibility examine by mid-2025 and a $10 million finances has been accepted by the Board.

Following the discharge of an preliminary Inferred Mineral Useful resource Estimate for the Springbok Zone, the southernmost shoot of the just lately found Antelope deposit, positioned roughly three km south of the Otjikoto Part 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 2031, with the purpose of accelerating gold manufacturing ranges to over 100,000 ounces per 12 months from 2026 by 2031.

The Firm’s ongoing technique is to proceed to maximise worthwhile manufacturing from its present mines, keep a robust monetary place, notice the numerous potential enhance in gold manufacturing from the Firm’s present growth tasks, proceed exploration applications 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 might 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 novel PIN. It will enable individuals to bypass the operator queue and join on to the convention. Registration will stay open till the tip 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 shall be accessible 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, as we speak, B2Gold has working gold mines in Mali, Namibia and the Philippines, the Goose Undertaking below development in northern Canada and quite a few growth and exploration tasks in numerous nations together with Mali, Colombia and Finland. B2Gold forecasts complete 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 individual below NI 43-101, has accepted the scientific and technical data associated to operations issues contained on this information launch.

Andrew Brown, P. Geo., Vice President, Exploration, a certified individual below NI 43-101, has accepted the scientific and technical data 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 Change 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 mirror complete manufacturing on the mines B2Gold operates on a 100% challenge foundation. Please see our Annual Data Type 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 concerning 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 concerning anticipated exploration, drilling, growth, development, allowing and different actions or achievements of B2Gold; and together with, with out limitation: remaining nicely positioned for continued sturdy operational and monetary efficiency in 2024; projected gold manufacturing, money working prices and AISC on a consolidated and mine by mine foundation in 2024; complete 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 Undertaking in a fashion that acknowledges Indigenous enter and considerations and brings long-term socio-economic advantages to the world; the Goose Undertaking capital price being roughly C$1,190 million and the web price 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 Undertaking 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 Undertaking 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 further gold manufacturing per 12 months from Fekola Regional sources; the receipt of the exploitation allow for Fekola Regional and Fekola Regional manufacturing anticipated to start at first 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 2031; the outcomes and estimates within the Gramalote PEA, together with the challenge life, common annual gold manufacturing, processing fee, capital price, web current worth, after-tax web money move, after-tax inside fee of return and payback; the timing and outcomes of a feasibility examine on the Gramalote Undertaking; and the potential to develop the Gramalote Undertaking as an open pit gold mine. 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 info and are usually, though not at all times, recognized by phrases akin to “count on”, “plan”, “anticipate”, “challenge”, “goal”, “potential”, “schedule”, “forecast”, “finances”, “estimate”, “intend” or “consider” and comparable expressions or their adverse connotations, or that occasions or situations “will”, “would”, “might”, “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; modifications in tax legal guidelines; the risks inherent in exploration, growth and mining actions; the uncertainty of reserve and useful resource estimates; not attaining manufacturing, price or different estimates; precise manufacturing, growth plans and prices differing materially from the estimates in B2Gold’s feasibility and different research; the flexibility 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 flexibility to interchange mineral reserves and establish 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 consequently thereof and the flexibility to generate enough 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 modifications in overseas legal guidelines and altering insurance policies associated to mining and native possession necessities or useful resource nationalization usually; distant operations and the supply of ample infrastructure; fluctuations in value and availability of power and different inputs crucial for mining operations; shortages or price will increase in crucial 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 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; antagonistic local weather and climate situations; 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 data techniques or data safety threats; the flexibility to keep up ample 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 comparable 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 elements recognized and as described in additional element below the heading “Threat Elements” in B2Gold’s most up-to-date Annual Data Type, B2Gold’s present Type 40-F Annual Report and B2Gold’s different filings with Canadian securities regulators and the U.S. Securities and Change 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 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 data accessible to administration at such time. These assumptions and elements embody, however should not restricted to, assumptions and elements associated to B2Gold’s capacity to hold on present and future operations, together with: growth 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 capacity to satisfy or obtain estimates, projections and forecasts; the supply and price of inputs; the value and marketplace for outputs, together with gold; overseas alternate charges; taxation ranges; the well timed receipt of crucial approvals or permits; the flexibility to satisfy present and future obligations; the flexibility to acquire well timed financing on cheap phrases when required; the present and future social, financial and political situations; and different assumptions and elements usually related to the mining trade.

B2Gold’s forward-looking statements are based mostly on the opinions and estimates of administration and mirror their present expectations concerning 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 may 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 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 trade 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 should not have any standardized which means prescribed below IFRS, and due to this fact they is probably not similar to comparable measures employed by different firms. The info offered is meant to offer further data and shouldn’t be thought of in isolation or as an alternative to measures of efficiency ready in accordance with IFRS and must be learn together with B2Gold’s consolidated monetary statements. Readers ought to consult with B2Gold’s Administration Dialogue and Evaluation, accessible 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 the US Securities and Change Fee (“SEC”), and useful resource and reserve data contained or referenced on this information launch is probably not similar to comparable data disclosed by public firms topic to the technical disclosure necessities of the SEC. Historic outcomes or feasibility fashions offered herein should not ensures or expectations of future efficiency.

NON-IFRS MEASURES

Money working prices per gold ounce bought and complete money prices per gold ounce bought

‘‘Money working prices per gold ounce” and “complete money prices per gold ounce” are widespread monetary efficiency measures within the gold mining trade however, as non-IFRS measures, they don’t have a standardized which means below IFRS and due to this fact is probably not similar to comparable measures offered by different issuers. Administration believes that, along with typical measures ready in accordance with IFRS, sure buyers use this data to guage our efficiency and talent to generate money move. Accordingly, these measures are supposed to offer further data and shouldn’t be thought of in isolation or as an alternative to measures of efficiency ready in accordance with IFRS. The measures, together with gross sales, are thought of to be a key indicator of the Firm’s capacity to generate earnings and money move from its mining operations.

Money price figures are calculated on a gross sales foundation in accordance with a typical 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 customary of reporting money price of manufacturing in North America. Adoption of the usual is voluntary and the price measures offered is probably not similar to different equally titled measures of different firms. Different firms might calculate these measures otherwise. Money working prices and complete money prices per gold ounce bought are derived from quantities included within the assertion of operations and embody mine web site working prices akin 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 bought and complete money prices per gold ounce bought 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 bought 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 embody mine web site working prices akin 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 firms established to advertise the usage of gold to trade, customers and buyers, offered 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 which means below IFRS and due to this fact is probably not similar to comparable measures offered by different issuers. The unique World Gold Council customary grew to become efficient January 1, 2014 with additional updates introduced on November 16, 2018 which had been efficient beginning January 1, 2019.

Administration believes that the all-in sustaining prices per gold ounce measure supplies further perception into the prices of manufacturing gold by capturing all the expenditures required for the invention, growth and sustaining of gold manufacturing and permits the Firm to evaluate its capacity to help capital expenditures to maintain future manufacturing from the era of working money flows. Administration believes that, along with typical measures ready in accordance with IFRS, sure buyers use this data to guage the Firm’s efficiency and talent to generate money move. Accordingly, it’s supposed to offer further data and shouldn’t be thought of in isolation or as an alternative to measures of efficiency ready in accordance with IFRS. Adoption of the usual is voluntary and the price measures offered is probably not similar to different equally titled measures of different firms. The Firm has utilized the rules of the World Gold Council suggestions and has reported all-in sustaining prices on a gross sales foundation. Different firms might calculate these measures otherwise.

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 are sustaining in nature, sustaining lease expenditures, company basic 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”), group relations expenditures, reclamation legal responsibility accretion and realized (positive aspects) losses on gasoline by-product contracts, all divided by the whole gold ounces bought to reach at a per ounce determine.

The desk beneath exhibits 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 part of Share-based funds on the Assertion of operations.
(2) Seek advice from Sustaining capital expenditures and Sustaining mine exploration reconciliations beneath.}

The desk beneath exhibits 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 exhibits 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 exhibits 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 part of Share-based funds on the Assertion of operations.
(2) Seek advice from Sustaining capital expenditures and Sustaining mine exploration reconciliations beneath.}

The desk beneath exhibits 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 exhibits 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 exhibits 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 part of Share-based funds on the Assertion of operations.
(2) Seek advice from Sustaining capital expenditures and Sustaining mine exploration reconciliations beneath.}

The desk beneath exhibits 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 exhibits 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 part of Share-based funds on the Assertion of operations.
(2) Seek advice from Sustaining capital expenditures and Sustaining mine exploration reconciliations beneath}

The desk beneath exhibits 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 exhibits 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 should not have a standardized which means prescribed by IFRS and due to this fact is probably not similar to comparable measures offered by different issuers. The Firm defines adjusted web earnings as web earnings attributable to shareholders of the Firm adjusted for non-recurring gadgets and likewise vital recurring non-cash gadgets. The Firm defines adjusted earnings per share – fundamental as adjusted web earnings divided by the fundamental weighted variety of widespread shares excellent.

Administration believes that the presentation of adjusted web earnings and adjusted earnings per share – fundamental is acceptable to offer further data to buyers concerning gadgets that we don’t count on to proceed on the identical stage sooner or later or that administration doesn’t consider 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 data that’s helpful to buyers as a result of they’re vital indicators of the energy of our operations and the efficiency of our core enterprise. Accordingly, it’s supposed to offer further data and shouldn’t be thought of in isolation as an alternative to measures of efficiency ready in accordance with IFRS. Different firms might calculate this measure otherwise.

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

For extra data 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