Ovais Habib

Anita Soni

Don DeMarco

Francesco Costanzo

Carey MacRury

Ralph Profiti

Wayne Lam

- **B2Gold Corp.** announced that its **Goose Mine** achieved commercial production on **October 2, 2025**, based on achieving **66% of its 4,000 tonnes per day (tpd) design capacity** over a 30-day period.  **[1429937_0001171843-25-006290_exh_991.htm:0]** 
- The company expects the Goose mill to operate near its **4,000 tpd design capacity** through the **fourth quarter of 2025**, with mill feed averaging between **6.5 and 7.0 grams per tonne gold** and gold recoveries expected to average higher than **90%**.  **[1429937_0001171843-25-006290_exh_991.htm:0]** 
- The Goose Mine is projected to produce **80,000 to 110,000 ounces of gold in 2025**, approximately **250,000 ounces in 2026**, and about **330,000 ounces in 2027**.  **[1429937_0001171843-25-006290_exh_991.htm:0]** 
- B2Gold forecasts total consolidated gold production of between **970,000 and 1,075,000 ounces in 2025**.  **[1429937_0001171843-25-006290_exh_991.htm:0]** **[1429937_0001171843-25-006290_exh_991.htm:1]**

B2Gold Achieves Commercial Production at Goose Mine

- B2Gold Corp. announced that its **Goose Mine** achieved commercial production on **October 2, 2025**, after the mill maintained an average throughput of **66% of its 4,000 tonnes per day (tpd) design capacity** for 30 consecutive days.  **[1429937_51dce4d0dc074ccabd9fcb8dee8f0dfd_0]** 
- Following the integration of a supplemental mobile crusher, the mill achieved an average throughput of **3,249 tpd**, representing **81.2% of design capacity**, from September 19 to October 2, 2025, and is expected to operate near its **design capacity through the fourth quarter of 2025**.  **[1429937_51dce4d0dc074ccabd9fcb8dee8f0dfd_0]** 
- The Goose Mine is projected to produce **80,000 to 110,000 ounces of gold in 2025**, **approximately 250,000 ounces in 2026**, and **approximately 330,000 ounces in 2027**, with an average annual production of **approximately 300,000 ounces** for the initial six years (2026-2031).  **[1429937_51dce4d0dc074ccabd9fcb8dee8f0dfd_1]** 
- B2Gold forecasts total consolidated gold production of between **970,000 and 1,075,000 ounces in 2025**.  **[1429937_51dce4d0dc074ccabd9fcb8dee8f0dfd_1]**

- B2Gold reiterated its consolidated 2025 production guidance range of **970,000 to 1,075,000 ounces**.  **[1429937_20250924LN82286:2]** 
- The Goose Mine achieved its first gold pour on **June 30, 2025**, and is on track for commercial production in the coming weeks.  **[1429937_20250924LN82286:2]** 
- The company modified its 2025 gold production guidance for the Goose Mine to **80,000-110,000 ounces** due to a crushing plant capacity shortfall in Q3 2025, down from the original 120,000-150,000 ounces.  **[1429937_20250924LN82286:3]** 
- Guidance for the Otjikoto Mine was increased to **185,000-205,000 ounces** and for the Masbate Mine to **190,000-210,000 ounces** based on outperformance.  **[1429937_20250924LN82286:3]** 
- B2Gold approved the development of the Antelope underground deposit at Otjikoto, with estimated pre-production capital of **$105 million**, potentially increasing mine production to approximately **110,000 ounces** per year over its mine life.  **[1429937_20250924LN82286:3]**

B2Gold Provides Operational Updates and Revises 2025 Guidance

- B2Gold Corp. confirmed its **2025 total annual gold production guidance** of between **970,000 and 1,075,000 ounces**.  **[1429937_0001171843-25-005899_exh_991.htm:0]** 
- The **Goose Mine** achieved its first gold pour on **June 30, 2025**, and is nearing commercial production, though its 2025 production guidance was modified to **80,000 to 110,000 ounces** due to Q3 crushing plant capacity limitations.  **[1429937_0001171843-25-005899_exh_991.htm:0]** 
- The **Fekola Complex** reiterated its 2025 gold production guidance of **515,000 to 550,000 ounces**, with Fekola underground operations now anticipated to contribute **30,000 to 40,000 ounces**.  **[1429937_0001171843-25-005899_exh_991.htm:1]** 
- Both the **Otjikoto Mine** and **Masbate Mine** saw their 2025 gold production guidance increased to **185,000 to 205,000 ounces** and **190,000 to 210,000 ounces**, respectively, due to outperformance.  **[1429937_0001171843-25-005899_exh_991.htm:1]** **[1429937_0001171843-25-005899_exh_991.htm:2]**  Additionally, B2Gold approved the development of the **Antelope underground deposit** at the Otjikoto Mine, with an estimated pre-production capital cost of **$105 million**.  **[1429937_0001171843-25-005899_exh_991.htm:1]**

B2Gold Confirms 2025 Production Guidance and Updates Mine Operations

- B2Gold **reaffirms its 2025 total annual gold production guidance** of between **970,000 and 1,075,000 ounces**.  **[1429937_994dee6a92b849f18c18968a5ca79cf6_0]** **[1429937_994dee6a92b849f18c18968a5ca79cf6_3]** 
- The **Goose Mine achieved first gold pour on June 30, 2025**, and is on track for commercial production in the coming weeks, though its **2025 gold production guidance has been revised downwards** to **80,000 to 110,000 ounces** due to Q3 crushing plant capacity shortfalls.  **[1429937_994dee6a92b849f18c18968a5ca79cf6_0]** **[1429937_994dee6a92b849f18c18968a5ca79cf6_4]** 
- The **Fekola Complex** continues strong operational performance, with underground operations approved on July 30, 2025, and its **2025 gold production guidance reiterated** at **515,000 to 550,000 ounces**.  **[1429937_994dee6a92b849f18c18968a5ca79cf6_1]** **[1429937_994dee6a92b849f18c18968a5ca79cf6_2]** **[1429937_994dee6a92b849f18c18968a5ca79cf6_4]** 
- Both the **Otjikoto Mine and Masbate Mine have outperformed expectations**, leading B2Gold to **increase their 2025 gold production guidance** to **185,000 to 205,000 ounces** for Otjikoto and **190,000 to 210,000 ounces** for Masbate.  **[1429937_994dee6a92b849f18c18968a5ca79cf6_2]** **[1429937_994dee6a92b849f18c18968a5ca79cf6_3]** **[1429937_994dee6a92b849f18c18968a5ca79cf6_4]**  The Otjikoto Mine also approved the development of the Antelope underground deposit with reduced capital costs.  **[1429937_994dee6a92b849f18c18968a5ca79cf6_2]** **[1429937_994dee6a92b849f18c18968a5ca79cf6_4]**

B2Gold Provides Operational Updates and Confirms 2025 Production Guidance

- The Gramalote Project in Colombia is projected to have an **11-year mine life** and **13-year mill life**, with an average annual gold production of **177 koz/yr** and total life of mine gold production of **2.26 Moz**.  **[1429937_0001062993-25-014969_exhibit99-1.htm:31]** **[1429937_0001062993-25-014969_exhibit99-1.htm:93]** 
- Based on a **US$2,500/oz** gold price and a **5%** discount rate, the project's after-tax Net Present Value (NPV) is **US$941 M** and its Internal Rate of Return (IRR) is **22.4%**, with a payback period of **3.4 years** after production start.  **[1429937_0001062993-25-014969_exhibit99-1.htm:30]** **[1429937_0001062993-25-014969_exhibit99-1.htm:31]** **[1429937_0001062993-25-014969_exhibit99-1.htm:115]** **[1429937_0001062993-25-014969_exhibit99-1.htm:123]** 
- Life of Mine (LOM) All-in Sustaining Costs (AISC) are estimated at **US$985/oz Au**, with total LOM operating costs of **US$1,583 M** and total LOM capital costs of **US$1,236 M**.  **[1429937_0001062993-25-014969_exhibit99-1.htm:31]** **[1429937_0001062993-25-014969_exhibit99-1.htm:114]** **[1429937_0001062993-25-014969_exhibit99-1.htm:115]** **[1429937_0001062993-25-014969_exhibit99-1.htm:123]** 
- The project's economics are most sensitive to changes in **gold price and grade**, with potential risks including delays in permitting and resettlement processes.  **[1429937_0001062993-25-014969_exhibit99-1.htm:30]** **[1429937_0001062993-25-014969_exhibit99-1.htm:31]** **[1429937_0001062993-25-014969_exhibit99-1.htm:115]** **[1429937_0001062993-25-014969_exhibit99-1.htm:123]**

B2GOLD (BTG)