B2Gold’s Operations at its Fekola Mine in Mali Continue Unimpeded
News Release
B2Gold’s Operations at its Fekola Mine in Mali Continue Unimpeded
Vancouver, BC, May 26, 2021 – B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G)
(“B2Gold” or the “Company”) announces that the Company is monitoring the evolving political situation
in Mali. B2Gold’s mining operations at its Fekola Mine have not been affected in any way and the Company
has continued normal mining and milling operations. The Company does not expect that any o perational
days will be lost due to the political situation in the country and has confirmed that all B2Gold’s personnel
are safe. The Fekola Mine is projected to produce 530,000 to 560,000 ounces of gold in 2021.
In addition, the Company has been made aware that L’Union Nationale des Travailleurs du Mali (the
National Union of Malian Workers) has ended the national strike action in the country as of May 25, 2021,
which to date had not had any significant impact on B2Gold’s operations in Mali.
B2Gold will continue to monitor the evolving situation and work to ensure the safety of its personnel and
that the Fekola mining operations continue normally, providing economic benefits and job creation both to
the communities around the mine and to regional and national governments. Foreign investment and
political stability in Mali are critical for the country.
B2Gold is committed to working with the governing authorities in Mali in order to build on the strong
relationship it has enjoyed to date. The Company will continue to work in a transparent manner to ensure
the continuation of the positive and mutually beneficial partnership between B2Gold and the Malian
government for the benefit of the Malian people and all stakeholders. This will include a continuation of
the ongoing discussions with respect to renewal of the Menankoto exploration permit, which the Company
believes it is entitled to receive under proper application of Malian law.
B2Gold is one of the largest Canadian investors in Mali and the Fekola Mine, in which the State of Mali
has a 20% ownership interest, and is a flagship investment in the country’s mining sector. In 2020, B2Gold
produced 622,518 ounces of gold, an estimated 27% of Mali’s industrial gold production, from the Fekola
Mine, generating approximately US$300 million in revenues for Mali, comprised of taxes and dividends.
Since the Fekola Mine commenced production in 2017, it has generated approximately US$580 million in
revenues for Mali.
The Company’s total investment in Mali to date is more than US$1 billion and B2Gold is a significant
employer with more than 2,200 employees, of which more th an 93% are Malian nationals. The Company
paid approximately US$64 million in employee salaries and benefits in 2020. Through its investment,
B2Gold has provided major economic benefits including job creation, training, capacity building and
community investments, including a recently announced US$10 million Signature Agricultural Business
Community Project to benefit local communities and provide sustainable livelihoods going forward.
Since the Company commenced its investment in Mali, B2Gold has always enjoyed a positive and mutually
beneficial relationship with the Government of Mali. Most recently, B2Gold partnered with the Government
of Mali to assist the people of Mali facing challenges created by the COVID -19 pandemic, as well as its
impact on the min ing sector. B2Gold continues to explore additional ways in which it might help the
government deal with the impact of the pandemic.
About B2Gold Corp.
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada. Founded in
2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines and numerous
exploration and development projects in various countries including Mali, Colombia, Burkina Faso, Finland
and Uzbekistan B2Gold forecasts total consolidated gold production of between 970,000 and 1,030,000
ounces in 2021.
ON BEHALF OF B2GOLD CORP.
“Clive T. Johnson”
President & Chief Executive Officer
For more information on B2Gold, please visit the Company website at www.b2gold.com or contact:
Ian MacLean Katie Bromley
Vice President, Investor Relations Manager, Investor Relations & Public Relations
+1 604-681-8371 +1 604-681-8371
[email protected] [email protected]
The Toronto Stock Exchange and NYSE American LLC neither approve nor disapprove the information contained in
this news release.
Production results and production guidance presented in this news release reflect total production at the mines
B2Gold operates on a 100% project basis. Please see our Annual Information Form dated March 30, 2021 for a
discussion of our ownership interest in the mines B2Gold operates.
This news release includes certain “forward -looking information” and “forward -looking statements” (collectively
forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation,
including: projections; outlook; guidance; forecasts; estimates; and other statements regarding future or estimated
financial and operational performance, gold production and sales, revenues and cash flows, and capital costs
(sustaining and non-sustaining) and operating costs, including projected cash operating costs and AISC, and budgets
on a consolidated and mine by mine basis; the impact of the COVID-19 pandemic on B2Gold’s operations, including
any restrictions or suspensions with respect to our operati ons and the effect of any such restrictions or suspensions
on our financial and operational results; the ability of the Company to successfully maintain our operations if they
are temporarily suspended, and to restart or ramp -up these operations efficient ly and economically, the impact of
COVID-19 on the Company’s workforce, suppliers and other essential resources and what effect those impacts, if they
occur, would have on our business, our planned capital and exploration expenditures; future or estimated mine life,
metal price assumptions, ore grades or sources, gold recovery rates, stripping ratios, throughput, ore processing;
statements regarding anticipated exploration, drilling, development, construction, permitting and other activities or
achievements of B2Gold; and including, without limitation: total consolidated gold production of between 970,000
and 1,030,000 ounces in 2021; and gold production from the Fekola Mine of between 530,000 and 560,000 ounces in
2021. All statements in this news release that address events or developments that we expect to occur in the future are
forward-looking statements. Forward -looking statements are statements that are not historical facts and are
generally, although not always, identified by words such as “expect”, “plan”, “anticipate”, “project”, “target”,
“potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe” and similar expressions or their
negative connotations, or that events or conditions “will”, “would”, “may”, “could”, “should” or “m ight” occur.
All such forward -looking statements are based on the opinions and estimates of management as of the date such
statements are made.
Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyo nd
B2Gold’s control, including risks associated with or related to: the duration and extent of the COVID -19 pandemic,
the effectiveness of preventative measures and contingency plans put in place by the Company to respond to the
COVID-19 pandemic, including, but not limited to, social distancing, a non -essential travel ban, business continuity
plans, and efforts to mitigate supply chain disruptions; escalation of travel restrictions on people or products and
reductions in the ability of the Company to trans port and refine doré; the volatility of metal prices and B2Gold’s
common shares; changes in tax laws; the dangers inherent in exploration, development and mining activities; the
uncertainty of reserve and resource estimates; not achieving production, cost or other estimates; actual production,
development plans and costs differing materially from the estimates in B2Gold’s feasibility and other studies; the
ability to obtain and maintain any necessary permits, consents or authorizations required for mining a ctivities;
environmental regulations or hazards and compliance with complex regulations associated with mining activities;
climate change and climate change regulations; the ability to replace mineral reserves and identify acquisition
opportunities; the un known liabilities of companies acquired by B2Gold; the ability to successfully integrate new
acquisitions; fluctuations in exchange rates; the availability of financing; financing and debt activities, including
potential restrictions imposed on B2Gold’s op erations as a result thereof and the ability to generate sufficient cash
flows; operations in foreign and developing countries and the compliance with foreign laws, including those
associated with operations in Mali, Namibia, the Philippines, Colombia and Burkina Faso and including risks related
to changes in foreign laws and changing policies related to mining and local ownership requirements or resource
nationalization generally, including in response to the COVID-19 outbreak; remote operations and the availability of
adequate infrastructure; fluctuations in price and availability of energy and other inputs necessary for mining
operations; shortages or cost increases in necessary equipment, supplies and labour; regulatory, political and country
risks, including local instability or acts of terrorism and the effects thereof; the reliance upon contractors, third parties
and joint venture partners; the lack of sole decision -making authority related to Filminera Resources Corporation,
which owns the Masbate Project; challenges to title or surface rights; the dependence on key personnel and the ability
to attract and retain skilled personnel; the risk of an uninsurable or uninsured loss; adverse climate and weather
conditions; litigation risk; competition with ot her mining companies; community support for B2Gold’s operations,
including risks related to strikes and the halting of such operations from time to time; conflicts with small scale miners;
failures of information systems or information security threats; the ability to maintain adequate internal controls over
financial reporting as required by law, including Section 404 of the Sarbanes -Oxley Act; compliance with anti -
corruption laws, and sanctions or other similar measures; social media and B2Gold’s reputati on; risks affecting
Calibre having an impact on the value of the Company’s investment in Calibre, and potential dilution of our equity
interest in Calibre; as well as other factors identified and as described in more detail under the heading “Risk
Factors” in B2Gold’s most recent Annual Information Form, B2Gold’s current Form 40 -F Annual Report and
B2Gold’s other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission (the
“SEC”), which may be viewed at www.sedar.com and www.sec.gov, respectively (the “Websites”). The list is not
exhaustive of the factors that may affect B2Gold’s forward-looking statements
B2Gold’s forward-looking statements are based on the applicable assumptions and factors management considers
reasonable as of the date hereof, based on the information available to management at such time. These assumptions
and factors include, but are not limited to, assumptions and factors related to B2Gold’s ability to carry on current
and future operations, including : the duration and effects of COVID -19 on our operations and workforce;
development and exploration activities; the timing, extent, duration and economic viability of such operations,
including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections,
forecasts, studies and assessments; B2Gold’s ability to meet or achieve estimates, projections and forecasts; the
availability and cost of inputs; the price and market for outputs, including gold; foreign ex change rates; taxation
levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the
ability to obtain timely financing on reasonable terms when required; the current and future social, economic and
political conditions; and other assumptions and factors generally associated with the mining industry.
B2Gold’s forward-looking statements are based on the opinions and estimates of management and reflect their current
expectations regarding future events and operating performance and speak only as of the date hereof. B2Gold does
not assume any obligation to update forward -looking statements if circumstances or management’s beliefs,
expectations or opinions should change other than as required by applicable law. There can be no assurance that
forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ
materially from those expressed in, or implied by, these forward -looking statements. Accordingly, no ass urance can
be given that any events anticipated by the forward -looking statements will transpire or occur, or if any of them do,
what benefits or liabilities B2Gold will derive therefrom. For the reasons set forth above, undue reliance should not
be placed on forward-looking statements.