VANCOUVER, Jan. 15, 2020 /CNW/ - B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") is pleased to announce its consolidated gold production and gold revenues for the fourth quarter and full-year 2019, in addition to its production and budget guidance for 2020. All dollar figures are in United States dollars unless otherwise indicated.

2019 Gold Production and Revenue Highlights
•Fourth quarter consolidated gold production of 234,416 ounces (including 6,010 ounces from discontinued operations)(1) or 245,140 ounces (including 10,724 ounces relating to B2Gold's attributable share of ounces from Calibre)(2)
•Fourth quarter consolidated gold revenues from continuing operations of $314 million on sales of 211,800 ounces; consolidated gold revenues (see "Non-IFRS Measures") of $324 million on sales of 218,437 ounces, including gold sales from the discontinued operations
•Record annual consolidated gold production of 969,495 ounces (including 118,379 ounces from discontinued operations) or 980,219 ounces (including 10,724 ounces relating to B2Gold's attributable share of ounces from Calibre), which exceeded the upper end of the Company's guidance range (of between 935,000 and 975,000 ounces), and marks the eleventh consecutive year that B2Gold achieved record annual consolidated gold production
•Annual gold production from the Fekola Mine, Masbate Mine and Otjikoto Mine all exceeded the upper end of their 2019 production guidance ranges
•Annual consolidated gold revenues from continuing operations of $1,156 million on sales of 827,800 ounces; annual consolidated gold revenues (see "Non-IFRS Measures") of $1,318 million on sales of 943,465 ounces, including gold sales from discontinued operations
•Consolidated cash costs (see "Non-IFRS Measures") are projected to remain low for 2019 with cash operating costs forecast to be at or below the lower end of the Company's $520 and $560 per ounce guidance range and all-in sustaining costs ("AISC") (see "Non-IFRS Measures") to be within the Company's $835 and $875 per ounce guidance range
•In December 2019, the Fekola Mine exceeded one million ounces of gold production (since the commencement of ore processing began in September 2017), achieving this milestone a full year ahead of the original production schedule (2015 Technical Report)
•B2Gold is also pleased to announce the appointment of Ms. Liane Kelly to its Board of Directors effective January 1, 2020

2020 Budget Highlights
•For 2020, B2Gold remains well positioned for continued strong operational and financial performance with production guidance of between 1,000,000 and 1,055,000 ounces of gold (including attributable ounces of between 45,000 and 50,000 from Calibre) with forecast cash operating costs of between $415 and $455 per ounce and AISC of between $780 and $820 per ounce
•The Fekola Mine expansion project to increase Fekola's processing throughput by 1.5 million tonnes per annum ("Mtpa") to 7.5 Mtpa from an assumed base rate of 6 Mtpa is scheduled to be completed by the end of the third quarter of 2020
•New large-scale off-grid Fekola solar plant project is scheduled for completion in August 2020; expected to provide significant operating cost reductions (estimated to reduce Fekola's processing costs by approximately 7%)
•B2Gold plans to complete a final feasibility study for the joint venture Gramalote Gold Project in Colombia by December 31, 2020
•Following a very successful year for exploration in 2019, B2Gold is planning another year of aggressive exploration in 2020 with a budget of approximately $51 million
•Based on current assumptions, including a gold price of $1,500 per ounce, the Company expects to generate cashflows from operating activities of approximately $700 million in 2020 and to repay the remaining outstanding balance of its revolving credit facility ("RCF") of $200 million during the year

(1)
On October 15, 2019, B2Gold and Calibre Mining Corp. ("Calibre") completed the transaction for B2Gold to restructure its interests in, and for Calibre to acquire, the El Limon and La Libertad mines. Accordingly, for the period to October 15, 2019, for financial reporting purposes, the Company has classified the El Limon and La Libertad mines' production and results as discontinued operations.

(2)
Commencing from October 15, 2019, B2Gold applies the equity method of accounting for its ownership interest in Calibre (approximately 34%) and reports its attributable share of Calibre production ounces as part of its total production results.

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