B2Gold Achieves Commercial Production at Goose Mine

B2Gold Corp. has announced commercial production at the Goose Mine in Nunavut, Canada, based on 30 consecutive days of average mill throughput at 65% or greater. The mill achieved 66% of design capacity from September 3 to October 2, 2025, and crushed ore availability has increased in the second half of September. Gold recoveries are expected to average higher than 90% through Q4 2025.

VANCOUVER, British Columbia, Oct. 06, 2025 (GLOBE NEWSWIRE) — B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) has announced that the Goose Mine, part of the Back River Gold District in Nunavut, Canada, has achieved commercial production. This milestone was reached based on an internal commercial production measure of 30 consecutive days of average mill throughput at 65% or greater, as per the mill design capacity of 4,000 tonnes per day (tpd).

From September 3 to October 2, 2025, the mill achieved an average throughput of 2,652 tpd, representing 66% of its design capacity. Mill feed over this period predominantly came from the mined-out Echo open pit. The integration of a supplemental mobile crusher with the primary crushing plant in the second half of September significantly increased crushed ore availability, with ore being crushed at a rate of 183 tonnes per hour (which equates to 4,385 tpd extrapolated over a 24-hour period). During this period, the mill achieved an average throughput of 3,249 tpd, representing 81.2% of its design capacity.

B2Gold believes the Goose mill can operate near its design capacity of 4,000 tpd through the fourth quarter of 2025. Open pit and underground mining rates at the Umwelt deposit have continued to meet or exceed expectations during the 30-day commercial production period. For the fourth quarter of 2025, mill feed is expected to predominantly come from the Umwelt deposit, averaging between 6.5 and 7.0 grams per tonne gold. Gold recoveries have been in line with expectations through the 30-day commercial production period and are expected to average higher than 90% through the fourth quarter of 2025 and beyond.

Clive Johnson, President and CEO of B2Gold, stated, “It is with great pleasure that we announce the Goose Mine has achieved commercial production. This tremendous achievement comes just over three months after the commencement of mill operations. I would like to thank our construction and operations teams, whose tireless efforts have made this entire project possible, and acknowledge our partner, the Kitikmeot Inuit Association, for their longstanding support. The Goose Mine will be a cornerstone of B2Gold’s production base and demonstrates the strength of our construction and operating teams worldwide. We view this milestone as just the beginning for the Back River Gold District and look forward to many years of safe and successful production in Nunavut, Canada.”

B2Gold forecasts gold production of between 80,000 and 110,000 ounces in 2025, approximately 250,000 ounces in 2026, and approximately 330,000 ounces in 2027, with average annual gold production for the initial six years of operations (2026 to 2031 inclusive) of approximately 300,000 ounces per year, based only on existing Mineral Reserves.