Kiaka project - Burkina Faso

The Kiaka project is located in southcentral Burkina Faso, and is one of the largest undeveloped gold resources in West Africa. It contains measured mineral resource estimates of 27.3 million tonnes at 1.09 g/t gold for 953,000 ounces; indicated mineral resource estimates of 96.8 million tonnes at 0.96 g/t gold for 2.99 million ounces; and inferred mineral resource estimates of 27.3 million tonnes at 0.93 g/t for 815,000 ounces(1).

Toega prospect

Based on the positive results to date (click here for the Exploration section), B2Gold is undertaking initial mineral resource modeling. Due to the increased size of Toega, B2Gold expects to release Toega’s initial mineral resource in the third quarter of 2017.

Once mineral resource estimates are available, in-house evaluations will commence to determine whether Toega constitutes a potential source of higher-grade feed for the Kiaka deposit or potentially a standalone project.

Metallurgical, environmental and social baseline studies were initiated at Toega in 2016, and these programs are planned to continue throughout 2017. The 2017 development budget for Toega is $0.84 million.

Kiaka project

The current plan at the Kiaka project is to update the mineral resource block in late 2017. Based on recent drilling in early 2017 at the Toega prospect (click here for the Exploration section), B2Gold is re-evaluating project economics and the potential impact of higher-grade ore being added from Toega.

The Company expects to complete internal updates to optimize sections of the Kiaka feasibility study in the second half of 2017.

News Releases:

Please click here for the full news release “B2Gold's 2017 Exploration Update: West Africa. Positive Exploration Results for B2Gold's Kiaka and Fekola Projects”, dated February 13, 2017.

Please click here for the full news release “B2Gold Corp. 2016 Exploration Update: West Africa”, dated June 29, 2017.

Footnote (Click to expand)

(1)“The mineral resource estimate for the Kiaka project was prepared as of January 8, 2013 by Ben Parsons, MSc, MAusIMM (CP), principal consultant for SRK Consulting (UK) Limited, a Qualified Person as defined under NI 43-101. The estimate reflects the attributable mineral resources based on B2Gold Corp’s 81% interest in the Kiaka project. Mineral resources are estimated using best practices as defined by the CIM and reporting of mineral resources is compliant and in accordance with the disclosure requirements of NI 43-101. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Due to the uncertainty that may be attached to inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration. Mineral resource numbers have been rounded to reflect the accuracy of the estimate and numbers may not add due to rounding1.”

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