Kiaka project - Burkina Faso

The Kiaka project is one of the largest undeveloped gold resources in West Africa, and 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).

Key Highlights 2016:

On June 29, 2016, B2Gold announced positive exploration drill results at the new Toega prospects near the main Kiaka deposit. These indicate the presence of new, potentially higher-grade gold zones. Preliminary internal studies indicate that combining the potential higher-grade ore from the Toega zones with ore from the lower-grade Kiaka deposit could have a very positive impact on the economics of the project.

B2Gold has also increased its exploration budget at the Kiaka deposit by $3 million to a total of $5.6 million on the strength of recent results (click here for Exploration section). The additional funds will be used to further explore and conduct infill drilling at the new higher-grade gold zones, along with detailed metallurgical sampling and testing, and baseline permitting work.

B2Gold continues to evaluate its timeline for updating the Kiaka Feasibility Study. During the second quarter of 2016, the Company approved an additional budget of $7.5 million for updated Feasibility Study work to be undertaken throughout the remainder of 2016. The Company is currently targeting mid-2017 for completion of an updated study, subject to further delineation of the size of the deposit.

News Releases:

Please click here for the full news release “B2Gold Corp. 2016 Exploration Update: West Africa.”

Please click here for the full news release “B2Gold Corp. Reports Q3 2016 Results; Operating Cash Flows Significantly Higher on Record Gold Production, Record Low Costs and Higher Gold Prices; 2016 Guidance Favourably Revised”.

Footnote (Click to expand)

“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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