B2Gold Pours First Gold at the Goose Mine
B2Gold Pours First Gold at the Goose Mine
Vancouver, BC, June 30, 2025 – B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G)
(“B2Gold” or the “Company”) is pleased to announce the first gold pour at the Goose Mine. The Goose
Mine forms part of the Back River Gold District located in Nunavut, Canada, and is the Company’s fourth
producing mine in the current operating portfolio and its first Canadian operating asset.
In announcing first gold production, Clive Johnson, President & CEO of B2Gold stated, “I am pleased to
announce that the Goose Mine has achieved its inaugural gold pour, a true milestone for our staff and our
partners who have worked tirelessly to reach this achievement. The commencement of gold production at
the Goose Mine marks an exciting step in B2Gold’s history, further diversifying and adding to the quality
of the Company’s existing global operating portfolio. We look forward to many years of safe and successful
production at the Goose Mine, as well as further unlocking the value of the entire Back River Gold District.”
First ore was introduced to the Goose Mine processing facilities on June 24, 2025, and the mill has run
consistently at approximately 50% of nameplate capacity during this initial phase, as planned. The focus
during the third quarter of 2025 will be to continue steady state operations and increase throughput to full
design capacity in the near -term. This will include synchronizing the remaining generators and ensuring
that all process circuits continue to perform as designed.
B2Gold acknowledges our partner the Kitikmeot Inuit Association (“KIA”), who has played a critical role
for many years to ensure the development of a successful gold mining operation at the Goose Mine. Respect
and collaboration with the KIA is central to the license to operate in the Back River Gold District and
B2Gold will prioritize operating the Goose Mine in a manner that recognizes Inuit priorities, addresses
concerns, and brings long -term socio-economic benefits to the Kitikmeot Region. B2Gold looks forward
to continuing to build on its strong collaboration with the KIA and Kitikmeot Communities.
With the first gold pour at the Goose Mine having been achieved , the Company expects a ramp up to
commercial production in the third quarter of 2025. B2Gold continues to estimate that gold production in
2025 will be between 120,000 and 150,000 ounces, and that average annual gold production for the initial
full six years of operations (2026 to 2031 inclusive) will be approximately 300,000 ounces per year, based
only on existing Mineral Reserves . B2Gold’s exploration programs have been successful in upgrading
Inferred Mineral Resources to Indicated Mineral Resources, and the Company anticipates that trend
continuing moving forward. Significant exploration potential remains across the Back River Gold District.
B2Gold’s corporate exploration budget is $61 million in 2025, with a total of $32 million budgeted for
exploration at the Back River Gold District.
About B2Gold Corp.
B2Gold is a responsible international senior gold producer headquartered in Vancouver, Canada. Founded
in 2007, today, B2Gold has operating gold mines in Canada, Mali, Namibia and the Philippines, and
numerous development and exploration projects in various countries. B2Gold forecasts gold production of
between 970,000 and 1,075,000 ounces in 2025.
ON BEHALF OF B2GOLD CORP.
“Clive T. Johnson”
President & Chief Executive Officer
For more information on B2Gold, please visit the Company’s website at www.b2gold.com or contact:
Michael McDonald
VP, Investor Relations, Corporate Development & Treasury
+1 604-681-8371
The Toronto Stock Exchange and NYSE American LLC neither approve nor disapprove the information
contained in this news release.
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 28, 2025, 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; future or estimated
mine life, metal price assumptions, ore grades or sources, gold recovery rates, stripping ratios, throughput,
ore processing; statements re garding 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 1,075,000 ounces in 2025; the Goose Mine achieving
commercial production in Q3 2025; 2025 gold production at the Goose Mine of 120,000 to 150,000 ounces;
average annual gold production of approximately 300,000 ounces from 2026 to 2031 at the Goose Mine ;
and future upgrading of Inferred Mineral Resources to Indicated Mineral Resources. 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 f acts 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 connota tions, 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 est imates 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 acquisi tions; 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 foreig n and developing countries and the compliance with foreign laws, including those
associated with operations in Mali, Namibia, the Philippines, Canada, and Colombia and including risks
related to changes in foreign laws and changing policies related to mini ng 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; 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
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 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.sedar.com and www.sec.gov, respectively (the "Websites"). The l ist 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: development and exploration activities; the
timing, extent, duration and economic viability of such operations, including any mineral res ources 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 exchange 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 r easonable 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 r esults,
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 occ ur, 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.