B2Gold Achieves Commercial Production at the Fekola Mine Ahead of Schedule; Gold Production to date During Ramp Up is Approximately 80,000 Ounces, 158% Above Budget1

News Release

B2Gold Achieves Commercial Production at the Fekola Mine Ahead of Schedule;

Gold Production to date During Ramp Up is Approximately 80,000 Ounces, 158% Above Budget1

Vancouver, December 4, 2017 – B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G)

(“B2Gold” or the “Company”) is pleased to announce that the Fekola Mine in Mali achieved commercial

production on November 30, 2017, one month ahead of the revised schedule and four months ahead of the

schedule announced in the Optimized Feasibility St udy (“OFS”). Ramp up to full-scale production at

Fekola remains ahead of schedule with gold production well above budget in each of the ramp-up months,

beating original recovery, grade and plant availab ility estimates in the OFS design. To November 30,

2017, the Fekola Mine has produced approximately 80,000 ounces of gold 1, approximately 158% above

budget (31,000 ounces). Gold producti on from the Fekola Mine in 2017 is now forecast to be between

100,000 and 110,000 ounces, far surpassing the upper end of the original guidance of 45,000 to 55,000

ounces. Based on current assumptions and updates to B2Gold’s current year guidance and long-term mine

plans, the Company is now projecting consolidated gold production in 2017 of between 580,000 and

625,000 ounces.

In 2018, consolidated gold production is forecast to be between 925,000 and 975,000 ounces. This

represents an increase in annual consolidated gold pr oduction of approximately 58% for B2Gold in 2018

versus 2017. Annual consolidated cash operating costs ( see “Non-IFRS Measures” ) and all-in sustaining

costs (“AISC”) (see “Non-IFRS Measures” ) for 2018 are forecast to decrease in 2018 to approximately

$525 per ounce and $800 per ounce, respectively.

B2Gold has declared commercial production at th e Fekola Mine based on an internal commercial

production measure of 30 consecutive days of mill thr oughput at 65% or greater of nameplate capacity

(607 dry tonnes per hour). During the 30 consecutive-da y commercial test, the mill achieved an average

throughput of 626 dry tonnes per hour. This included an availability for the mill of 95% (budget was

70%) for the test period and a recovery that exceeded 95% (budget was 91%).

The Fekola mill started processing ore more than thr ee months ahead of schedule on September 25, 2017,

(see news release dated 09/25/2017) with the first pour at the Fekola Mine achieved on October 7, 2017.

In October, the first full month of ramp-up and pre-commercial production, the Fekola mill treated

324,525 tonnes of ore (budgeted – 225,804 tonnes) at an average grade of 3.40 g/t (budgeted – 2.33 g/t)

with a gold recovery of 95.4% (budgeted – 90.0%), producing a total of 33,946 ounces of gold in the

month (surpassing budget of 15,100 ounces). Gold pr oduction at Fekola in November 2017 was

approximately 40,000 ounces1 from 426,836 tonnes of ore (budgeted 316,000 tonnes) at an average grade

of 3.05 g/t (2.33 g/t budgeted) with gold recoveri es of 95.5% (budget 91%). The higher than budgeted

grade is a result of the early start to mining (April 20 17), allowing the site to stockpile ore and blend mill

feed for optimal production.

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The estimated overall production from the Fekola Mine for 2017 is now projected to be between 100,000

and 110,000 ounces. Commercial gold production in 2017 will include a projected 25,000 ounces in

December 2017. This number is lower than the production in October and November 2017, due to a

planned shutdown to finalize operationa l changes. The routine shutdown is expected to last six to seven

days.

Based on the life of mine (“LoM”) plan in 2018, the first full year of Fekola production, the Company is

projecting production of approximately 400,000 to 410,000 ounces of gold from the Fekola Mine with

low projected cash operating costs and AISC of approximately $354 per ounce and $609 per ounce,

respectively.

For the first three years, the Fekola Mine is project ed to produce approximately 400,000 ounces of gold

annually at cash operating costs of $357 per ounce and AISC of $604 per ounce. For the first seven years,

Fekola is projected to produce approximately 374,0 00 ounces of gold annually w ith cash operating costs

of $391 per ounce and AISC of $643 per ounce. Over th e initial ten-year LoM, Fekola is projected to

produce an average of 345,000 ounces per annum at cash operating costs of $428 per ounce and AISC of

$664 per ounce.

Exploration

Positive drill results from the Company’s $15.4 million 2017 exploration program at the Fekola area (see

news release dated 11/9/2017) indicated that the main Fekola de posit, with additional drilling, could

extend significantly to the north. In addition, dril ling below the extensive saprolite resource at the

Anaconda, Adder and Mamba zones has discovered thr ee, well mineralized bedrock (sulphide) zones,

indicating the potential for large, Fekola-style mineralized zones.

Drilling is ongoing to further test the Fekola North Extension zone, infill the Fekola resource and further

test the new bedrock mineralization beneath the Anaconda, Adder and Mamba saprolite resource. The

Company is planning additional, aggressive exploration drilling programs on these targets in 2018.

1. Production numbers are considered approximate because monthly production has not been reconciled yet for November 2017.

Qualified Person

Tom Garagan, Senior Vice President of Explorati on of B2Gold, a qualified person under NI 43-101, has

approved the exploration information contained in this news release.

Peter D. Montano, P.E., the Project Director of B2Gold, a qualified person under NI 43-101, has

approved the scientific and technical information contained in this news release.

About B2Gold Corp.

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Headquartered in Vancouver, Canada, B2Gold Corp . is one of the fastest-growing intermediate gold

producers in the world. Founded in 2007, today, B2Gold has five operating gold mines and numerous

exploration and development projects in various countries including Nicar agua, the Philippines, Namibia,

Mali, Burkina Faso, Colombia and Finland.

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 Manage r, Investor Relations & Public Relations

604-681-8371 604-681-8371

[email protected] [email protected]

This news release includes certain “forward-looking information” and “forward-looking statements” (collectively

“forward-looking statements”) within the meaning of applicable securities legislation, including projections of

future financial and operational perform ance; statements with respect to fu ture events or future performance;

production estimates and guidance, including the Company’s projected consolidated gold production of between

580,000 and 625,000 ounces in 2017 (including production from Fekola of between 100,000 and 110,000 ounces)

and projected gold production of between 925,000 and 975,000 ounces in 2018; projected operating and production

costs and guidance; and statements re garding anticipated exploration, devel opment, construction, production and

other activities of the Company, includin g: estimated gold production at Feko la in November, December and Q4 of

2017 and 2018; 2018 being the first full year of production and anticipated increase of over 58% in gold production

in 2018; the anticipated shutdown lasting 6-7 days; under the LoM plan for Fekola, the projected gold production,

operating cash costs and AISC in 2018 and over the initial 3, 7 and 10 year operating periods; the results of future

exploration including the potential for additional Fekola-style mineralized zones; conversion of inferred resources

to indicated resources; and potential to add 900,000 ounces of gold with further drilling. Estimates of mineral

resources and reserves are also forward-looking statemen ts because they constitute projections, based on certain

estimates and assumptions, regarding the amount of minerals that may be encountered in the future and/or the

anticipated economics of production, should a production decision be made. All statements in this news release that

address events or developments that we expect to occur in the future ar e 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” an d similar expressions or their negati ve connotations, or that events or

conditions “will”, “would”, “may”, “c ould”, “should” or “might” occur.

Forward-looking statements necessarily involve assumptio ns, risks and uncertainties, certain of which are beyond

B2Gold’s control, including risks and assumptions associated with the volatility of metal prices and the Company’s

common shares; risks and dang ers inherent in exploratio n, development and mining activities; uncertainty of

reserve and resource estimates; risk of not achieving pro duction, cost or other estimates; risk that actual

production, development plans and costs differ materially from the estimates in the Company’s feasibility studies;

risks related to ore purchase commitments; the ability to obtain and maintain any necessary permits, consents or

authorizations required for mining activities; risks related to environmental regulations or hazards and compliance

with complex regulations associated with mining activities; the ability to replace mineral reserves and identify

acquisition opportunities; availability of financing and financing risks; risks related to operations in foreign and

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developing countries and compliance with foreign laws; risks related to remo te operations and the availability

adequate infrastructure, fluctuations in price and availab ility of energy and other in puts necessary for mining

operations; regulatory, political and country risks; the final outcome of the Department of Environment and Natural

Resources audit; 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 and B2Go ld’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 list is not exhaustive of the factors that may affect the Company’s forward-

looking statements. There can be no assurance that such statements will prove to be accurate, and actual results,

performance or achievements co uld differ materially from those expressed in, or implied by, these forward-looking

statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements

will transpire or occur. The Company’s forward-looking statements reflect current expectations regarding future

events and operating performance and speak only as of th e date hereof and the Company 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. The Company'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 the Company's ability to carry on current and future operations, including

development and exploration activities; the timing, exten t, duration and economic viab ility of such operations,

including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates,

projections, forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and

forecasts; the availability and cost of inputs; the price and market for ou tputs, including gold; the timely receipt of

necessary approvals or permits; the ab ility to meet current and future obli gations; 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. For the reasons set forth above, undue

reliance should not be placed on forward-looking statements.

Non-IFRS Measures:

This news release includes certain terms or performance measures commonly used in the mining industry that are

not defined under International Financial Reporting Standards (“IFRS”), including “cash operating costs” and

“all-in sustaining costs” (or “AISC”). Non-IFRS measures do not have any standardized meaning prescribed under

IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data

presented is intended to provide additional information and sh ould not be considered in isolation or as a substitute

for measures of performance prepared in accordance with IFRS and should be read in conjunction with B2Gold’s

consolidated financial statements. Readers should refer to B2Gold’s management discussion and analysis, available

under B2Gold’s corporate profile at www.sedar.com and at www.sec.gov or on its website at www.b2gold.com,

under the heading “Non-IFRS Measures” for a more detailed discussion of how B2Gold calculates such measures.

Cautionary Note to United States Investors:

The Company has prepared its public disclosures in accordance with Canadian securities laws, which differ in

certain respects from U.S. securities laws. In particular , this news release may refer to “mineral resources”,

“measured mineral resources”, “indicated mineral res ources” or “inferred mineral resources”. While these

categories of mineralization are recognized and require d by Canadian securities laws, they are not recognized by

the SEC and are not normally permitted to be disclosed in SEC filings by U.S. companies. U.S. investors are

cautioned not to assume that any part of a “mineral resource”, “measured mineral resource”, “indicated mineral

resource” or “inferred mineral resource” will ever be con verted into a “reserve.” In addition, “reserves” reported

by the Company under Canadian standards may not qualify as reserves under SEC standards. Under SEC

standards, mineralization may not be classified as a “res erve” unless the mineralization can be economically and

legally extracted or produced at the time the “reserve” determination is made. Accordingly, information contained

or referenced in this news release containing descriptions of the Company’s mineral deposits may not be compatible

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to similar information made public by U.S. companies subject to the reporting and disclosure requirements of U.S.

federal securities laws, rules and regulations. “Inferred mineral resources” have a great amount of uncertainty as

to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or

any part of an inferred mineral resource will ever be upgraded to a higher category. Historical results or feasibility

models presented herein are not guarantees or expectations of future performance.

Currency: All amounts in this news release are expressed in United States dollars, unless otherwise stated.

The Toronto Stock Exchange and the NYSE American LLC have not reviewed and do not accept responsibility for

the accuracy or adequacy of this news release, which has been prepared by the Company.