B2Gold Corp. Provides an Update on its Operations and COVID-19 Response Plan
News Release
B2Gold Corp. Provides an Update on its Operations and COVID-19 Response Plan
Vancouver, British Columbia, March 23, 2020 – B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG,
NSX: B2G) ( “B2Gold” or the “Company”) announces that it is continuing with its comprehensive
COVID-19 response plan and to date has not experienced any incidents of the COVID-19 virus at its sites
or corporate offices. The Company continues to operate its mines in Mali (Fekola) and Namibia (Otjikoto),
with a temporary suspension of mining but continued milling at its mine in the Philippines (Masbate). In
addition, the Company is moving its ongoing expansion and development projects forward with certain
restrictions and delays experienced by individual project. The Company expects to meet or exceed its
budgeted consolidated gold production for the first quarter of 2020.
The Masbate Mine expects to meet its budgeted gold production estimate for the first quarter of 2020. Based
on a temporary shortage of fuel, the Masbate Mine has temporarily suspended mining activities (beginning
on March 21, 2020), however the mill is continuing to operate and process material from stockpiles. The
temporary fuel shortage is due to new regulations imposed by the Philippine Government related to the
COVID-19 virus to ensure that all materials, including fuel, arriving on Masbate island via transport are
not contaminated with COVID -19. A key component of the new regulations relate to the screening and
certification of the crews transporting the materials, in order to ensure that delivery of fuel and other
essential supplies to Masbate Island can be appropriately certified for delivery . The Philippine Federal
Government has also issued a Memorandum from the Executive Secretary on March 16, 2020, which states
that essential supplies should be allowed to continue to be shipped. The Company expects to provide an
update on the Masbate Mine operations, including supply deliveries, later in the week. The current plan is
for the mill at the Masbate Mine to continue to operate. The Company’s intention is to recommence mining
once fuel supplies have been restored.
The Fekola Mine continues to operate without impediments to mining or milling and expects to meet or
exceed its budgeted gold production estimate for the first quarter of 2020. All supply lines remain open and
the site continues to receive supplies critical to operating at full capacity. In addition, Fekola has also built
up a significant reserve of stockpiles that it can comfor tably process through the second quarter of 2020
without a significant change to its annual guidance. Barring any unforeseen work stoppages due to COVID-
19, including consumable supply disruption, the Company expects to meet its 2020 gold production and
cost guidance at the Fekola Mine . The expansion of the Fekola mill continues and is expected to be
completed by the end of the third quarter of 2020. The mining fleet expansion continues to perform well
with the first 6040 excavator loading the five 789 trucks that were delivered to site ahead of schedule. The
expansion of the tailings storage facility remains on schedule and will provide capacity for tailings disposal
into 2023. The solar power plant construction continues but there is a possibility that some components
may be delayed, primarily due to shipping delays, prior to startup of the solar plant in the third quarter of
2020. This delay will not impact the 2020 forecasted annual production at the Fekola Mine.
The Otjikoto Mine expects to meet its budgeted gold production estimate for the first quarter of 2020. All
supply lines remain open and the site continues to receive supplies critical to operating at full capacity. The
Otjikoto Mine continues to operate without impediments to mining or milling and has a significant reserve
of stockpiles that it can process through the second quarter of 2020 without a significant change to its annual
guidance. Barring any unforeseen work stoppages due to COVID -19, including consumable supply
disruption, the Company expects to meet its 2020 gold production and cost guidance at the Otjikoto Mine.
The underground project at Wolfshag is currently in the tender review process for underground mine
development and could potentially be delayed if contractors cannot mobilize to site (scheduled for mid to
late second quarter of 2020). The Company does not expect that a delay to the underground project will
have any impact on the 2020 or 2021 forecasted annual production at the Otjikoto Mine.
At the Gramalote Project, the Company has determined, with extensive consultation with the surrounding
communities and the Colombian government, to suspend drilling off the Inferred Mineral Resource but will
continue to progress the feasibility study where possible. The suspension of drilling has the potential to
delay the completion of the Gramalote project feasibility study into the first quarter of 2021.
Further to the Company’s news release dated March 18, 2020, the Company has been monitoring the
COVID-19 outbreak and the potential impact at B2Gold’s operations since mid- February and has
implemented several measures and introduced additional precautionary steps to manage and respond to the
risks associated with the COVID-19 virus to ensure the safety of our employees and surrounding
communities where we work while continuing to operate. This plan is continually being updated based on
the severity of the pandemic in areas where we operate, the safety of our workforce, global response
measures, government restrictions and extensive community consultation.
Travel by B2Gold corporate personn el continues to be restricted to absolute minimum requirements, and
employees in the corporate offices have been advised to work remotely, including the corporate office in
Vancouver. At each of our mines in Mali, Namibia and the Philippines, and our development project in
Colombia, we have implemented several control measures for dealing with the outbreak of COVID -19,
including a severe restriction of access to site, pre-screening for symptoms and travel history with possible
COVID-19 exposure for all employees, and mandatory quarantine periods for any new personnel having
access to the site. The Company’s procedures will continue to evolve according to the World Health
Organization and Center for Disease Control guidelines as more becomes known about the virus, and the
Company is regularly monitoring the situation and following local and national health authority
requirements and recommendations. A critical care specialist has been consulting the Company on the
guidelines and global implementation.
B2Gold continues to engage with local stakeholders to prevent the virus from entering the communities
around our operations. Education programs are being put into place to protect the communities by
promoting hygienic practices and limiting social interactions in an effort to prevent the spread of the virus.
About B2Gold Corp.
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada. Founded in
2007, today, B2G old 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; 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 “believe” 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 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 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; 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 s ystems 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 Fac tors” 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 relating to B2Gold’s ability to carry on current
and future operations, including: 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; 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. B2G old’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 res ults, 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.