B2Gold Announces Updated Mineral Reserve Life of Mine Plan for the Goose Project; Commencing a Study to Expand Mill Throughput at the Goose Project; B2Gold Confirms Construction and Mine Development Cash Expenditure Estimate of C$1,540 million

Core Viewpoint - B2Gold Corp. has released a technical report for the Back River Gold District, highlighting an updated life of mine plan for the Goose Project, with significant improvements in mineral resource estimates and production forecasts [1][3][4]. Group 1: Technical Report Highlights - The Back River Gold District consists of 11 mineral claims along an 80-kilometer belt, with construction at the Goose Project on schedule for first gold pour in Q2 2025 and ramp-up to commercial production expected in Q3 2025 [2][18]. - The updated Indicated Mineral Resource estimate is 3,560,000 ounces of gold at a grade of 7.16 g/t, a 16% improvement from the previous report [5]. - The Inferred Mineral Resource estimate is 2,440,000 ounces of gold at a grade of 7.54 g/t, a 14% improvement from the prior report [5]. - The Mineral Reserve Life of Mine is projected at approximately 2.3 million ounces of gold, with an average annual production of about 300,000 ounces for the first six years [5][6]. Group 2: Cost and Production Estimates - The average gold grade processed over the Mineral Reserve Life of Mine is 6.82 g/t, a 14% improvement compared to the prior report, with an average recovery rate of 92.5% [6][8]. - Projected All-In Sustaining Costs (AISC) are approximately $1,547 per ounce over the Mineral Reserve Life of Mine, expected to decrease with further resource delineation [6][8]. - The company anticipates a weighted average AISC of approximately$1,360 per ounce from 2027 to 2031, reflecting long-term operational potential [6]. Group 3: Exploration and Optimization Plans - A budget of $32 million is allocated for exploration in 2025, with$21 million dedicated to the Goose Project and $11 million for regional exploration, including the George Project [6][25]. - B2Gold is evaluating multiple optimization studies to enhance the long-term value of the Goose Project, including potential increases in mill throughput from 4,000 tpd to 6,000 tpd [6][24][26]. - The company plans to conduct 12,000 meters of drilling at the Goose Project to target extensions of high-grade resources and explore new regional targets [27]. Group 4: Community Engagement and Development - B2Gold emphasizes collaboration with the Kitikmeot Inuit Association to ensure project development aligns with local priorities and provides long-term socio-economic benefits [17][23]. - The company is committed to maintaining strong community relations and addressing concerns throughout the development of the Back River Gold District [17][23].