B2Gold Achieves Commercial Production at Goose Mine, Trims 2025 Gold Production Outlook

B2Gold Corp has reached commercial production at its Goose Mine in Nunavut, Canada, within three months of the mill's operation. The mine achieved an average throughput of 2,652 tons per day, marking 66% of design capacity. The company expects the Goose mill to operate at near design capacity of 4,000 tons per day in Q4 2025. B2Gold's total annual gold production for 2025 is expected to be between 970,000 and 1,075,000 ounces.

Vancouver, British Columbia, September 12, 2025 — B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) has announced that its Goose Mine, located in Nunavut, Canada, has reached commercial production. The achievement comes just over three months after the commencement of mill operations, marking a significant milestone for the company.

The Goose Mine achieved an average mill throughput of 2,652 tons per day during the 30-day commercial production period, representing 66% of the mill's design capacity of 4,000 tons per day. Mill feed over this period was predominantly from the mined-out Echo open pit. The integration of a supplemental mobile crusher with the primary crushing plant significantly increased ore availability, with the mill achieving an average throughput of 3,249 tons per day, which is 81.2% of design capacity.

B2Gold expects the Goose mill to operate near its design capacity of 4,000 tons per day 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 commercial production period. For the fourth quarter of 2025, mill feed is expected to average between 6.5 and 7.0 grams per tonne gold. Gold recoveries have been in line with expectations 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 has reiterated its near-term and long-term gold production estimates at the Goose Mine, which includes 80,000 to 110,000 ounces of gold production in 2025, approximately 250,000 ounces of gold production in 2026, approximately 330,000 ounces of gold production in 2027, and average annual gold production for the initial full six years of operations (2026 to 2031 inclusive) of approximately 300,000 ounces per year, based only on existing Mineral Reserves.

The company forecasts gold production of between 970,000 and 1,075,000 ounces in 2025. This achievement underscores B2Gold's commitment to responsible mining and its strategic focus on expanding its production base.