B2Gold Provides Operations Update for the Goose Mine and Announces Drill Results at the Back River Gold District

Vancouver, BC, September 28, 2026 – B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Company”) is pleased to provide an operational update for the Goose Mine and announce positive results from its ongoing Back River Gold District exploration drilling program in Nunavut, Canada. All dollar figures are in United States dollars unless otherwise indicated.

Goose Mine Operations Highlights

• New mobile crushing plant commissioned in August 2026.
• Mobile crushing exceeded an average of 3,000 tonnes per day (“tpd“) of ore from mid- August, in-line with plan.
• Fixed plant crushing throughput is expected to reach a sustained average of 3,200 tpd beginning in October 2026 following completion of planned work on the fixed crushing plant, including Phase 1 upgrades and repairs related to the fire damage.
• Goose Mine is on track to achieve annual production guidance of 170,000 to 200,000 ounces of gold in 2026.

Goose Mine Exploration Highlights

• Infill drill results at Llama confirm interpretation of high-grade mineralization and

increase confidence in the current Inferred Mineral Resources below the open pit. Highlight intersections include (core length):

ο Drill hole 26GSE749Z2 returned 19.12 grams per tonne (“g/t”) gold over 21.23 meters (“m”) from 463.85 m;

ο Drill hole 26GSE749 returned 44.61 g/t gold over 4.65 m from 473.50 m;

ο Drill hole 26GSE746Z2 returned 21.72 g/t gold over 10.60 m from 399.05 m; ο Drill hole 26GSE748Z1B returned 44.03 g/t gold over 3.53 m from 354.40 m; and ο Drill hole 26GSE747Z2B returned 10.59 g/t gold over 4.95 m from 357.05 m.

• New discovery of high-grade gold mineralization beyond the western limb of the Nuvuyak structure at Goose Main (core length):

ο Drill hole 26GSE750Z2 returned 10.94 g/t gold over 9.95 m from 1,195.90 m (Tattuk zone exploration hole).

• Infill and extension drill results at Nuvuyak (Goose Main) show continuity of high-

grade mineralization and opportunity to lengthen the down plunge extents of known high-grade mineralization. Highlight intersections include (core length):

ο Drill hole 26GSE750 returned 11.88 g/t gold over 6.90 m from 1,048.30 m; and ο Drill hole 26GSE753Z1 returned 8.74 g/t gold over 7.60 m from 806.00 m.

Back River Gold District Exploration Highlights

• Infill drill results at the Locale 1 deposit at the George Project demonstrate

continuity of high-grade mineralization in the Inferred Mineral Resource. Highlight intersections include (core length):

ο Drill hole 26GRL232 returned 15.72 g/t gold over 7.85 m from 227.00 m;

ο Drill hole 26GRL232Z1 returned 29.58 g/t gold over 3.65 m from 265.80 m; ο Drill hole 26GRL236 returned 19.49 g/t gold over 6.75 m from 44.30 m;

ο Drill hole 26GRL239 returned 26.49 g/t gold over 9.40 m from 38.60 m; and ο Drill hole 26GRL245Z1 returned 23.63 g/t gold over 5.75 m from 337.05 m.

Mike Cinnamond, President and CEO of B2Gold, said “We are very pleased to provide an operational update for the Goose Mine that demonstrates the significant progress to achieve temporary ore crushing capacity at 3,000 tpd following the fire in April, while progressing the upgrades and repairs to the fixed crushing plant, according to plan. The successful commissioning of the new mobile crushing plant and continued advancement of the Phase 1 upgrades are a testament to the dedication and hard work of our operations, maintenance and project teams. With the crusher repairs and upgrades on track, we remain confident in our ability to achieve 170,000 to 200,000 ounces of gold production at Goose this year and continue to position the site for improved long-term performance and operating flexibility.

Our 2026 Back River Gold District exploration program yielded strong results from the Goose Mine and regional program, aiding our deposit knowledge and mine planning, district-wide target generation, and conversion of near-mine resources. At the Goose Mine, drilling at the Llama deposit and Nuvuyak structure contributed to our goal to infill Mineral Resources, demonstrated the potential to further extend mine life, and identified a prospective new zone, Tattuk, for follow up drilling. At the George Project, strong results from infill drilling strengthened confidence in the continuity of high-grade mineralization that will support resource conversion. We look forward to building upon the results of the 2026 program and advancing opportunities identified district-wide.”

Goose Mine Operations Update

Mobile Crusher Update

As announced on August 6, 2026, the Company purchased and received a new mobile crushing plant to supplement existing crushing capacity while repairs to the fixed crushing plant, as a result of the fire announced earlier in the year, are completed. The new mobile crushing plant arrived on site in July and was commissioned in August. Following commissioning of the new mobile crushing plant, total mobile crushing ore throughput exceeded an average of 3,000 tpd since mid- August, in line with plan. The capital cost for the additional crushing plant and supporting equipment was approximately $16 million.

Phase 1 upgrades to the fixed crushing plant, which include the addition of a run-of-mine massflow bin and apron feeder, a new larger jaw crusher and rock breaker, are underway and on track to be commissioned mid-October, the same time repairs from the fire to the conveyor belt are expected to be completed. The Goose fixed crushing plant is expected to have an average daily capacity of 3,200 tpd following the commissioning of the Phase 1 upgrades, which are estimated to incur a total cost of $11 million.

The Company plans to continue to use the new mobile crushing plant (~3,000 tpd) alongside the fixed crushing plant (~3,200 tpd) through October and as weather permits through the winter, to feed the mill and build a stockpile of crushed ore. A semi-permanent enclosure is being erected around the mobile crushing plant to facilitate continued operations of the mobile crusher during the winter months. Phase 2 upgrades to the fixed crushing plant are scheduled for the first half of 2027, at which time the fixed crushing plant is expected to be down for up to 10 weeks while upgrades are completed. The Company expects to build sufficient crushed ore stockpiles prior to the Phase 2 shutdown and utilize the new mobile crushing plant during the upgrade, so that mill operations are not impacted during the shutdown period. Phase 2 crusher upgrades include the installation of larger secondary/tertiary cone crushers, new surge bins with feeders to optimize crusher performance, and upgraded conveyors to support higher throughput. Once complete, the Phase 2 upgrades are expected to increase average crushing capacity to design throughput of 4,000 tpd. While initially acquired to mitigate the impacts of the crusher fire, the new mobile crushing plant will remain on site and be used to provide long-term operational flexibility and additional crushing capacity beyond the completion of the fixed crushing plant upgrades.

Annual Guidance

With the new mobile crusher commissioned and Phase 1 upgrades progressing as planned, the Company remains on track to deliver annual production guidance of 170,000 to 200,000 ounces of gold from the Goose Mine in 2026. Third quarter of 2026 gold production is expected to be broadly in line with first quarter production levels, and fourth quarter of 2026 production is expected to be the strongest quarter of the year, driven by a full quarter of higher tonnes milled and strong mill feed grade.

2026 Back River Gold District Exploration Program Overview

The 2026 exploration program is supported by a budget of $51 million, and includes over 35,000 m of drilling, and regional exploration activities. The program prioritized supporting future mine planning, infill drilling for resource conversion, the identification of new zones of mineralization for follow-up exploration and increasing deposit knowledge. As of August 31, the 2026 Back River Gold District exploration program had completed 75% of the 2026 campaign with a total of 27,493 m of drilling.

More than half of the 2026 exploration budget is focused on activities located at the Goose Mine to infill Inferred Mineral Resources at the Llama deposit and Nuvuyak zone, as well as targeting extensions of known mineralization at the Nuvuyak zone.

The 2026 regional exploration program is focused on mapping, prospecting, and till sampling on the George Project (including the Locale 1 deposit), Ailiruk, Goose, Boot, Needle, and Beech targets and makes up the remainder of the 2026 exploration budget at the Back River Gold District. The goal of the regional work is to further define resources at the Locale 1 deposit, identify new zones of mineralization amenable to open pit mining methods, and follow up on targets defined during the 2025 summer regional exploration program.

All drill results are as of August 31, 2026, unless otherwise noted. Full composite tables detailing drill intercept assay results are provided at the end of this release.

Goose Mine Exploration

The Goose Mine comprises five main deposits: Umwelt, Llama, Llama Extension, Goose Main and Echo, and has defined Indicated Mineral Resources of 15.91 million tonnes grading 7.40 g/t gold totaling 3.79 million ounces (inclusive of Mineral Reserves) and Inferred Mineral Resources of 9.31 million tonnes grading 7.63 g/t totaling 2.28 million ounces. Significant drill hole locations from the 2026 Goose Mine exploration program are shown on the map in Figure 1 and Figure 2.

Figure 1. Goose Mine drill hole locations plan view.

Figure 2. Goose Mine drill hole locations long section with significant intersections labelled.

At the Llama deposit, 28 holes totaling 7,255 m were drilled year-to-date to infill the Inferred Mineral Resources down plunge from the Llama open pit. Results confirm current interpretations of high-grade mineralization with results up to 19.12 g/t gold over 21.23 m from 463.85 m in drill hole 26GSE749Z2 (Figure 3). All assay results from the 2026 drill campaign at Llama have now been received, providing key inputs for upcoming mine-planning work.

The LX Gap is an approximately 300 m long portion of the southeasterly plunging Llama deposit that to date has seen insufficient drilling to confirm the continuity of high-grade mineralization along the entirety of the known 2,000 m of the deposit. The high-grade intersections flanking LX Gap impart confidence in continuity and promote LX Gap as a drill target for the 2027 drilling campaign.

Figure 3. Llama Deposit long section (facing northeast). Significant intersections are labelled and pierce points for drillholes disclosed in this release are outlined in black.

At Goose Main, 16 holes totaling 6,951 m were drilled year-to-date, focused on infill drilling and exploring extensions down plunge and down dip of known mineralization in the Nuvuyak zone. Infill drilling is ongoing with assay results still pending for 10 holes. Results from the 2025 exploration program suggested mineralization continued down plunge of Nuvuyak, and drill hole 26GSE750Z2 was extended to test the geological interpretation of the iron formation hosting the gold mineralization and to evaluate Nuvuyak’s projected continuation down plunge. Results from that hole confirmed high-grade mineralization, with 10.94 g/t gold over 9.95 m from 1,195.90 m on the western limb of the fold. This new discovery, named Tattuk, is approximately 150 m down plunge from Nuvuyak and presents a new opportunity for future resource additions (Figure 4).

Figure 4. Goose Main long section (facing north). Significant intersections are labelled and pierce points for drillholes disclosed in this release are outlined in black.

Other near-mine exploration targets, including Hackles and Goose Tail, were tested in 2026 with a total of 1,178 m drilled in six drill holes. At the Goose Tail target, 850 m southeast of Goose Main, drilling from three drill holes tested the potential for a small open pit resource target. Assay results are pending for the three 2026 drill holes.

Significant 2026 drill results from the Goose Mine exploration drilling include:

Notes:

1. Full composite tables containing the drill intercept assays from the Goose Mine exploration drilling are located at the end of this release.

2. Composite intervals represent core length, not true width, and were calculated using a 3.0 g/t gold cut-off grade and may include up to 2.0 m of internal dilution.

3. Capped at 50 g/t gold.

2026 Regional Exploration Program

The George Project, situated 60 kilometers (“km”) northwest of the Goose Mine (Figure 5), has an Indicated Mineral Resource estimate of 1.66 million tonnes grading 7.89 g/t gold for a total of 420,000 ounces of gold and an Inferred Mineral Resource estimate of 4.19 million tonnes grading 8.98 g/t gold for a total of 1.2 million ounces of gold, including Locale 1 Inferred Mineral Resource estimate of 1.15 million tonnes grading 10.25 g/t gold for a total of 380,000 ounces of gold.

Figure 5. Back River Gold District Property Overview.

Infill drill results from the 2026 George Project and drilling at Locale 1 confirmed the continuity of high-grade gold mineralization in the Inferred Mineral Resource (Figure 6). In addition, approximately 2,279 m was drilled in 15 holes at the George Project, Dragon South, Oar, Rainbow Row, and Spoon targets, focusing on identifying new zones of shallow mineralization that could be amenable to open pit methods. At the Dragon South zone, 1,134 m over 6 holes followed up encouraging 2025 drill results of 10.42 g/t gold over 5.65 m from 10.75 m in drill hole 25GRL224. Assays from the 2026 program are pending.

Figure 6. Locale 1 (George Project) Drill Hole Locations.

Significant 2026 drill results from the Locale 1 zone in the George Project include:

Notes:

1. Full composite tables containing the drill intercept assays from the George Project Locale 1 drilling program are located at the end of this release.

2. Composite intervals represent core length, not true width, and were calculated using a 4.0 g/t gold cut-off grade and may include up to 2.0 m of internal dilution.

3. Capped at 50 g/t gold.

At the Back River Gold District Regional targets, Boot and Needle, 2,142 m of drilling from 12 holes was completed following up on prospective 2025 exploration program results. At the Boot property, situated 12 km northeast of Goose Mine, 1,693 m was drilled across nine drill holes at the Ayers, Boot Laces, Hammer, and Rooster targets following up encouraging results from the 2025 exploration program. Assay results are still pending for four holes from the Hammer and Rooster zones. At the Needle property, situated 60 km southwest of the Goose Mine, approximately 450 m were drilled with the program ongoing and assays pending. Results to date in 2026 have not returned any significant values.

Surface Exploration Program

Regional target definition was supplemented by an integrated surface exploration program comprised of mapping, prospecting, and the collection of 2,927 till samples, 92 channels (296 samples), and 1,059 rock samples from nine properties including Ailiruk, Goose South, Boot, Boulder, George, Del, Needle, Beech, and Wishbone. Channel sample results from Ailiruk are encouraging and include up to 3.94 g/t gold over 6.3 m. In addition, shallow Rotary Air Blast (“RAB”) drilling was carried out over four areas with 183 holes drilled and 386 samples collected. Results of RAB drilling will aid in identifying prospective lithology below glacial till cover and guide future efforts towards mineralized bedrock. The completed surface exploration has generated additional regional and near-mine targets for further evaluation and drill testing in 2027.

Drill Intercept Assays – Composite Tables

2026 drill results from the Llama deposit at the Goose Mine include:

Notes:

1. Capped at 50 g/t gold.

2. Goose composite intervals represent core length, not true width, and were calculated using a 3.0 g/t gold cut-off grade and may include up to 2.0 m of internal dilution. True width undetermined.

2026 drill results from the Nuvuyak zone within the Goose Mine include:

Notes:

1. Capped at 50 g/t gold.

2. Goose composite intervals represent core length, not true width, and were calculated using a 3.0 g/t gold cut-off grade and may include up to 2.0 m of internal dilution. True width undetermined.

2026 drill results from the Locale 1 zone in the George Project include: