B2Gold pours first gold at Nunavut’s Goose mine

B2Gold (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) announced the first gold pour at the Goose mine. The Goose mine forms part of the Back River gold district located in Nunavut 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 and 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.”

On June 24, 2025, the Goose mine processing facilities began receiving the first ore, and the mill has consistently operated at approximately 50% of its nameplate capacity during this initial phase, as planned. During the third quarter of 2025, operations will focus on maintaining steady performance and increasing throughput to reach full design capacity soon. Operators will synchronize the remaining generators and ensure all process circuits perform as designed.

A company release stated: “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.”

B2Gold expects the Goose mine to ramp up to commercial production in the third quarter of 2025. The company estimates that gold production in 2025 will range between 120,000 and 150,000 ounces and predicts average annual gold output for the initial full six years of operations (2026 to 2031 inclusive) to reach approximately 300,000 ounces per year, relying solely on existing mineral reserves.

B2Gold’s exploration programs have successfully upgraded inferred mineral resources to indicated mineral resources, and the company anticipates this trend to continue. Exploration across the Back River gold district offers significant potential. B2Gold has allocated a corporate exploration budget of $61 million for 2025, with $32 million specifically assigned to exploration at the Back River gold district.

More information is posted on www.B2gold.com.