VANCOUVER, British Columbia, June 18, 2024 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Company”) is pleased to announce the results of a positive Preliminary Economic Assessment (“PEA”) prepared in accordance with National Instrument 43-101 (“NI 43-101”) on its 100% owned Gramalote gold project located in the Department of Antioquia, Colombia (the “Gramalote Project”). All dollar figures are in United States dollars unless otherwise indicated.


Highlights

Significant gold production profile with low-cost structure and favorable metallurgical characteristics
Open pit gold mine with an initial life of mine of 10 years, with mill processing over 12.5 years (“Life of Project”)
Average grade processed of 1.26 grams per tonne (“g/t”) gold over the first five years, benefitting from the processing of the higher-grade core at the Gramalote Project; Life of Project average grade processed of 1.00 g/t gold
Life of Project gold production of approximately 2.3 million ounces with an average gold recovery of 95.9% from conventional milling, flotation and cyanide leach of the flotation concentrate
Average annual gold production of approximately 234,000 ounces per year for the first five years of production
Average annual gold production of approximately 185,000 ounces per year over the Life of Project
Projected lowest quartile all-in sustaining costs (“AISC”) of $886 per gold ounce over the Life of Project
Annual processing rate of 6.0 million tonnes per annum (“Mtpa”)

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