Falcon Gold grants choices to purchase three million shares

• Goose Venture on schedule for first gold pour in Q1 2025: All lengthy lead objects for the 2024 building season have been obtained at B2Gold’s freight consolidation factors, prepped for ship transport and at the moment the 2023 sealift is underway, which incorporates supply of 24 million litres of diesel gasoline.

• Development capital expenditures stay in step with June 2023 estimate of C$800 million: The up to date building capital expenditure by B2Gold of C$800 million, plus a further C$90 million for accelerating underground improvement, stays in step with B2Gold’s final estimate as of June 2023. Up to now, capital expenditures are in step with the Firm’s expectations, with roughly C$530 million complete money spent on the mission thus far (by B2Gold and Sabina).

• Accelerated underground mining plan adopted to extend common gold manufacturing within the first 5 years to over 300,000 ounces per 12 months: Underground improvement on the Umwelt deposit and open pit mining on the Echo deposit is progressing. The Echo open pit is scheduled to be mined out and stockpiled previous to course of plant commissioning in an effort to present tailings storage capability.

• Concrete and metal work within the mill space progressing forward of schedule: Erection of structural metal has commenced, with constructing cladding to start shortly. The Firm expects the ball mill to be set in place in December 2023, forward of schedule, which considerably de-risks the development schedule for mill completion and first gold pour in Q1 2025.

• Section 1 of the lodging complicated opened in July 2023: Section 1 of the lodging complicated contains 310 beds on the everlasting web site location, which along with the 160 beds situated on the present exploration camp, present the mandatory lodging to help accelerated building, mining and exploration actions.

• Earthworks needed to increase airstrip to be accomplished in September 2023: Deliberate extension of the airstrip to five,000 ft will enable massive capability, absolutely loaded passenger planes to land on the Goose Venture through the 2024 building marketing campaign.

• Winter ice street preparations are properly underway: The Request for Proposal course of has closed for the collection of the winter ice street constructor and a choice is predicted to be made earlier than the tip of September. The contractor will likely be managed by B2Gold’s skilled ice street building crew. The execution technique for the 2024 ice street season includes an earlier begin to the street building than earlier years, which contributes to de-risking the trucking season. As well as, the ice street building will start from the center and work outwards in every path, which ought to allow the ice street to be accomplished sooner than in prior seasons.

• 11,000 meters of drilling over 44 drill holes has been accomplished thus far in 2023 at Again River: The drill program on the Goose Venture has targeted on testing the Umwelt and Llama deposits down-plunge for useful resource affirmation and useful resource growth, in addition to numerous regional targets. The drill program is anticipated to run via December 2023.

Goose Venture Capital Expenditures

On June 23, 2023, the Firm introduced an preliminary building capital expenditure estimate of C$800 million, which was in step with B2Gold expectations because the Sabina acquisition announcement and displays scope modifications to additional optimize the Goose Venture in addition to business inflation. B2Gold has up to date the development price range to de-risk the mission and assemble a dependable and low working value mine for the arctic. As well as, the Firm has made the choice to speed up underground mining improvement to extend annual gold manufacturing over the primary 5 years of the mine plan, which entails mining of the entire Umwelt crown pillar. The price to speed up underground mining is estimated at a further C$90 million for a complete mission expenditure of C$890 million.

Goose Venture Infrastructure

Goose Venture Web site Overview – September 2023

Marine Laydown Space

The buying of supplies and provides wanted to help the 2024 building marketing campaign has been accomplished and all supplies have been offered to the ports for the 2023 sealift. Following the acquisition of Sabina, the Marine Laydown Space (“MLA”) situated on Bathurst Inlet, Nunavut was reorganized to maximise house for the 2023 sealift that’s at the moment underway. Moreover, the gasoline tank containment space on the MLA was enlarged to facilitiate elevated storage. The MLA has an roughly 70 particular person camp, a 3,000 foot gravel airstrip and heliport, and over 65,000 meters ² of out of doors storage space.

The 2023 sealift is at the moment underway with an anticipated transport quantity of 70,000 meters cubed of dry cargo and 24,000,000 liters of arctic grade diesel gasoline. As at August 31, 2023, the MLA has obtained its first two ships and three barges for off-load as a part of the 2023 sealift, with 4 extra ships en-route carrying supplies to the MLA from ports situated globally.

Marine Laydown Space offloads – September 2023

Lodging Complicated

Section 1 of the lodging complicated opened in July 2023, together with sleeping quarters, workplace space, medical heart, gymnasium, kitchens, and water remedy. Section 1 of the lodging complicated contains 310 beds on the everlasting web site location, which along with the 160 beds situated on the present exploration camp, present the mandatory lodging to help accelerated building, mining and exploration actions to make sure an on-time mission completion. Section 2 of the lodging complicated will additional broaden the everlasting camp. Section 2 supplies have already began to reach on the MLA and are prepared for transport to the Goose Venture web site and will likely be built-in into the complicated previous to the 2024 summer time building season.

Goose Venture lodging complicated overview – August 2023

Goose Venture lodging complicated – September 2023

Concrete and Metal Work

Concrete and metal work within the mill space are progressing forward of schedule. The primary concrete pour was accomplished in July 2023, with roughly 30% of the 2023 concrete foundations and pads full throughout the mill space, energy home and truck store as of August 31, 2023. Over 2,000,000 kilograms of structural metal and roughly 500,000 kilograms of plate metal has arrived at web site. Erection of the structural metal has commenced for the mill space, energy home and truck store, and cladding will start within the close to time period. Enclosure of those buildings will enable for work to proceed via the colder months and stay on schedule. Moreover, it’s anticipated that the ball mill will likely be set in place in December 2023, forward of schedule, permitting the main focus for the beginning of 2024 to shift to piping.

Goose Venture mill constructing structural metal – August 2023

Goose Venture truck store structural metal – September 2023

Goose Venture mill constructing structural metal – September 2023

Winter Ice Street

The 163 kilometer winter ice street between MLA and the Goose Venture will function between February and finish of-April, relying on temperatures. In 2023, over 800 masses had been accomplished alongside the ice street. Work on the ice street is predicted to begin in December 2023. Ice street building will start from the center and work outwards in every path, permitting for completion of the vast majority of the street earlier than the ocean ice freezes, as the ocean ice freezes final. This building technique ought to allow the ice street to be accomplished sooner than in prior seasons.

Airstrip

Earthworks needed to increase the airstrip are anticipated to be accomplished in September 2023. Deliberate extension of the airstrip to five,000 ft will enable massive capability, absolutely loaded passenger planes to land on the Goose Venture through the 2024 building marketing campaign. B2Gold expects that this can make worker and contractor rotations and supplying the mission web site from Edmonton considerably simpler and can additional de-risk the mission.

Goose Venture Mine Improvement

B2Gold made the choice to speed up underground mining improvement to extend common gold manufacturing within the first 5 years to over 300,000 ounces per 12 months. Mining improvement is progressing on the Echo open pit, which will likely be mined out previous to course of plant commissioning in an effort to present tailings storage capability. Underground mining has exceeded 1,300 meters of horizontal improvement and the preliminary air flow increase is predicted to be accomplished in October 2023.

Underground mining is scheduled to mine and backfill the complete Umwelt pillar earlier within the mine life than in prior mine plans, which is predicted to contribute over 150,000 ounces of gold manufacturing to the lifetime of mine plan. Geotechnical and mine design and engineering continues and is predicted to be finalized within the fourth quarter of 2023. The underground improvement is at the moment lower than 500 meters away from commencing ore manufacturing on the Umwelt crown pillar.

Goose Venture Replace Lifetime of Mine Plan

The B2Gold technical crew continues to research methods to optimize the Goose Venture lifetime of mine plan. Areas of optimization at the moment being studied embody:

• Mining of the Umwelt crown pillar
  • The crown pillar between the Umwelt open pit and underground mining areas comprises over 150,000 ounces of gold and was solely partially included in prior manufacturing schedules.
  • Geotechnical and mine design and engineering is underway with the aim of mining and backfilling the crown pillar previous to completion of the Umwelt open pit.

• Underground mining methodology
  • The B2Gold engineering crew has decided that many of the Umwelt underground mine might be mined successfully with long-hole stoping, which is predicted to scale back prices and enhance ore manufacturing charges.

• Renewable energy technology
  • The Sabina crew beforehand recognized the potential for wind energy technology, and research are in progress by B2Gold to determine the perfect answer and to quantify the potential operational and price affect to the Goose Venture.

B2Gold expects to finish an up to date Goose Venture lifetime of mine plan within the second half of 2023.

Again River Exploration Replace

Within the second quarter of 2023, a major exploration program was authorised on the Again River Gold District for 2023. B2Gold has authorised a US$20 million exploration price range for the stability of 2023 to finish roughly 27,000 meters of drilling. Drilling will likely be targeted in proximity to present deposits on the Goose Venture, in addition to following up on regional targets recognized on the George, Boulder, Boot and Del tasks.

Drilling on the Goose Venture started in early August with two drill rigs. By the tip of August 2023, 5,000 meters of drilling had been accomplished over 18 drill holes, with 5 drill rigs at the moment working. The targets for the drilling program at Goose embody:

• Choose drill holes for a reagent optimization metallurgic pattern;
• Check the Umwelt and Llama deposits down-plunge for useful resource affirmation and useful resource growth; and
• Check regional targets on the Goose Venture that had been developed primarily based on structural modeling and geophysical re-processing.

The drill program on the Goose Venture is predicted to final till December 2023.

26 drill holes and 6,009 meters of drilling was accomplished on the George Venture. This system was designed to check a number of targets at George over a strike size of 10 kilometers. Assay outcomes are nonetheless pending for some holes as a result of wildfire associated points in Yellowknife, which affected logistics and entry to the prep lab.

About B2Gold

B2Gold is a low-cost worldwide senior gold producer headquartered in Vancouver, Canada. Based in 2007, as we speak, B2Gold has working gold mines in Mali, Namibia and the Philippines, a mine underneath building in northern Canada and quite a few improvement and exploration tasks in numerous international locations together with Mali, Colombia and Finland. B2Gold forecasts complete consolidated gold manufacturing of between 1,000,000 and 1,080,000 ounces in 2023.

Certified Individuals

Invoice Lytle, Senior Vice President and Chief Working Officer, a certified particular person underneath NI 43-101, has authorised the scientific and technical info associated to operations issues contained on this information launch.

ON BEHALF OF B2GOLD CORP.

“Clive T. Johnson”
President and Chief Govt Officer

The Toronto Inventory Trade and NYSE American LLC neither approve nor disapprove the knowledge contained on this information launch.

Manufacturing steering offered on this information launch mirror complete manufacturing on the mines B2Gold operates on a 100% mission foundation. Please see our Annual Info Kind dated March 16, 2023 for a dialogue of our possession curiosity within the mines B2Gold operates.

This information launch contains sure “forward-looking info” and “forward-looking statements” (collectively “forward-looking assertion”) throughout the which means of relevant Canadian and United States securities laws, together with: projections; outlook; steering; forecasts; estimates; statements relating to future or estimated monetary and operational efficiency, gold manufacturing and gross sales, revenues and money flows, and capital prices (sustaining and non-sustaining) and working prices, and together with, with out limitation: complete consolidated gold manufacturing of between 1,000,000 and 1,080,000 ounces in 2023; the completion of mill building on the Goose Venture being accomplished within the first quarter of 2025; the capital value estimate for the Goose Venture being roughly C$890 million; the underground mining now scheduled to incorporate 150,000 ounces from the Umwelt crown pillar; the Umwelt underground mine being mined with long-hole stoping, which may cut back prices and enhance ore manufacturing charges; the identification of varied objects that will likely be added to the unique Sabina scope in an effort to de-risk the development part and maximize the long-term worth of the asset; the setting of the ball mill in December 2023; the 2024 winter ice street commencing operation in February 2024; the earthworks needed to increase the airstrip being accomplished in September 2023. All statements on this information launch that tackle occasions or developments that we count on to happen sooner or later are forward-looking statements. Ahead-looking statements are statements that aren’t historic information and are typically, though not at all times, recognized by phrases akin to “count on”, “plan”, “anticipate”, “mission”, “goal”, “potential”, “schedule”, “forecast”, “price range”, “estimate”, “intend” or “imagine” and comparable expressions or their damaging connotations, or that occasions or circumstances “will”, “would”, “could”, “may”, “ought to” or “would possibly” happen. All such forward-looking statements are primarily based on the opinions and estimates of administration as of the date such statements are made.

Ahead-looking statements essentially contain assumptions, dangers and uncertainties, sure of that are past B2Gold’s management, together with dangers related to or associated to: the volatility of metallic costs and B2Gold’s widespread shares; modifications in tax legal guidelines; the risks inherent in exploration, improvement and mining actions; the uncertainty of reserve and useful resource estimates; not reaching manufacturing, value or different estimates; precise manufacturing, improvement plans and prices differing materially from the estimates in B2Gold’s feasibility and different research; the power to acquire and preserve any needed permits, consents or authorizations required for mining actions; environmental rules or hazards and compliance with complicated rules related to mining actions; local weather change and local weather change rules; the power to exchange mineral reserves and determine acquisition alternatives; the unknown liabilities of corporations acquired by B2Gold; the power to efficiently combine new acquisitions; fluctuations in change charges; the provision of financing; financing and debt actions, together with potential restrictions imposed on B2Gold’s operations consequently thereof and the power to generate adequate money flows; operations in overseas and growing international locations and the compliance with overseas legal guidelines, together with these related to operations in Mali, Namibia, the Philippines and Colombia and together with dangers associated to modifications in overseas legal guidelines and altering insurance policies associated to mining and native possession necessities or useful resource nationalization typically, together with in response to the COVID-19 outbreak; distant operations and the provision of satisfactory infrastructure; fluctuations in worth and availability of vitality and different inputs needed for mining operations; shortages or value will increase in needed tools, provides and labour; regulatory, political and nation dangers, together with native instability or acts of terrorism and the consequences thereof; the reliance upon contractors, third events and three way partnership companions; the shortage of sole decision-making authority associated to Filminera Sources Company, which owns the Masbate Venture; challenges to title or floor rights; the dependence on key personnel and the power to draw and retain expert personnel; the danger of an uninsurable or uninsured loss; antagonistic local weather and climate circumstances; litigation threat; competitors with different mining corporations; neighborhood help for B2Gold’s operations, together with dangers associated to strikes and the halting of such operations every so often; conflicts with small scale miners; failures of data programs or info safety threats; the power to take care of satisfactory inner controls over monetary reporting as required by legislation, together with Part 404 of the Sarbanes-Oxley Act; compliance with anti-corruption legal guidelines, and sanctions or different comparable measures; social media and B2Gold’s popularity; dangers affecting Calibre having an affect on the worth of the Firm’s funding in Calibre, and potential dilution of our fairness curiosity in Calibre; in addition to different elements recognized and as described in additional element underneath the heading “Danger Components” in B2Gold’s most up-to-date Annual Info Kind, B2Gold’s present Kind 40-F Annual Report and B2Gold’s different filings with Canadian securities regulators and the U.S. Securities and Trade Fee (the “SEC”), which can be seen at www.sedar.com and www.sec.gov, respectively (the “Web sites”). The listing is just not exhaustive of the elements that will have an effect on B2Gold’s forward-looking statements

B2Gold’s forward-looking statements are primarily based on the relevant assumptions and elements administration considers affordable as of the date hereof, primarily based on the knowledge out there to administration at such time. These assumptions and elements embody, however should not restricted to, assumptions and elements associated to B2Gold’s means to hold on present and future operations, together with: the timing, extent, length and financial viability of such operations, together with any mineral assets or reserves recognized thereby; the accuracy and reliability of estimates, projections, forecasts, research and assessments; B2Gold’s means to fulfill or obtain estimates, projections and forecasts; the provision and price of inputs; the worth and marketplace for outputs, together with gold; overseas change charges; taxation ranges; the well timed receipt of needed approvals or permits; the power to fulfill present and future obligations; the power to acquire well timed financing on affordable phrases when required; the present and future social, financial and political circumstances; and different assumptions and elements typically related to the mining business.

B2Gold’s forward-looking statements are primarily based on the opinions and estimates of administration and mirror their present expectations relating to future occasions and working efficiency and communicate solely as of the date hereof. B2Gold doesn’t assume any obligation to replace forward-looking statements if circumstances or administration’s beliefs, expectations or opinions ought to change apart from as required by relevant legislation. There might be no assurance that forward-looking statements will show to be correct, and precise outcomes, efficiency or achievements may differ materially from these expressed in, or implied by, these forward-looking statements. Accordingly, no assurance might be provided that any occasions anticipated by the forward-looking statements will transpire or happen, or if any of them do, what advantages or liabilities B2Gold will derive therefrom. For the explanations set forth above, undue reliance shouldn’t be positioned on forward-looking statements.

Photographs accompanying this announcement can be found at
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For extra info on B2Gold please go to the Firm web site at www.b2gold.com or contact: Michael McDonald VP, Investor Relations & Company Improvement +1 604-681-8371 inve[email protected] Cherry DeGeer Director, Company Communications +1 604-681-8371 [email protected]