B2Gold Continues to Operate Unimpeded at its Fekola Mine in Mali
News Release
B2Gold Continues to Operate Unimpeded at its Fekola Mine in Mali
Vancouver, Canada, August 19, 2020, – B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX:
B2G) ( “B2Gold” or the “Company”) announces that the Company continues to monitor the evolving
political situation in Mali. B2Gold’s mining operations at its Fekola Mine have not been affected in any
way and the Company continues mining and milling operations as normal. The Fekola Mine has sufficient
supplies on hand to maintain its budgeted activities through the end of the third quarter and beyond if
needed. The Fekola mill expansion remains on schedule. No operational days have been lost due to the
political situation in the country and all of B2Gold’s mine personnel are safe.
B2Gold will continue to monitor the situation and work to ensure that its 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 crucial for the
country.
B2Gold has enjoyed a positive relationship with the Government of Mali from the beginning of its
investment in the country, including, most recently, partnering with the government to assist the people of
Mali in facing the challenges created by the COVID-19 pandemic and its impact on the mining sector.
As one of the largest Canadian investors in Mali, B2Gold has enjoyed strong support for its investment
which now totals nearly US$1 billion. With more than 2,200 employees in Mali (more than 93% Malians),
B2Gold has provided major economic benefits, training and capacity building to Malians, providing more
than US$37 million in salaries for employees in 2019 alone. As a vital commercial enterprise in Mali, the
Fekola Mine generated almost US$134 million in revenue for the Government of Mali in 2019.
The State of Mali has a 20% ownership in the Fekola Mine, in addition to benefitting from royalties and
taxes.
About B2Gold
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 and Colombia. In 2020, B2Gold
forecasts consolidated gold production of between 1,000,000 and 1,055,000 ounces.
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.
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, 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 operations 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 efficiently 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; statements regarding activities or achievements of
B2Gold including, without limitation: consolidated gold production of between 1,000,000 and 1,055,000 ounces in
2020. 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 “be lieve” and similar expressions or their
negative connotations, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” 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 beyond
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 mitig ate supply chain disruptions; 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 activities; 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 unknown
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 operations 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 Colombia
and including risks related to changes in foreign laws and changing policies related to mining and local ownership
requirements or resource nationalization generally; remote operations and the availability of adequate infrastructure;
fluctuations in price and availability of energy a nd 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 c ontractors, third parties and joint venture
partners; 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 other 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 outcome of the ongoing tax assessment by the Colombian Tax Office
(DIAN) in respect of the Gramalote property; 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 reputation; 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.sed ar.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 consid ers
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 relating to B2Gold’s ability to carry on current
and future operatio ns, 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 gol d; 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 oth er
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 assura nce 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 assurance 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.