B2Gold's Goose mine reaches commercial production

Executive Summary

• B2Gold’s Goose mine in Nunavut, Canada achieved commercial production on Oct. 2 2025 after meeting its internal metric of 30 consecutive days at ≥65% of the mill’s 4,000 tpd design capacity.
• Average mill throughput during the 30‑day period was 2,652 tpd (66% of design), rising to 3,249 tpd (81.2% of design) in the latter half of September after integration of a supplemental mobile crusher.
• The company reaffirmed near‑term gold production guidance: 80–110 koz for 2025, ~250 koz for 2026, ~330 koz for 2027, and an average of ~300 koz per year for the first six full years (2026‑2031).

Key Details

• Commercial Production Metric: 30 consecutive days at ≥65% of design capacity (4,000 tpd).
• Throughput Performance:
• Sept 3 – Oct 2 2025: average 2,652 tpd (66% of design).
• Sept 19 – Oct 2 2025 (post‑mobile crusher integration): average 3,249 tpd (81.2% of design), crushing rate 183 tph (≈4,385 tpd).
• Mill Capacity Outlook: B2Gold expects the Goose mill to operate near full design capacity (≈4,000 tpd) through Q4 2025.
• Feed Source: Primarily mined‑out Echo open pit during the 30‑day period; future feed will shift to the Umwelt deposit.
• Ore Grade & Recovery: Anticipated average grade of 6.5–7.0 g/t Au for Q4 2025; gold recoveries >90% expected moving forward.
• Production Guidance (based on existing reserves):
• 2025: 80,000‑110,000 oz Au
• 2026: ~250,000 oz Au
• 2027: ~330,000 oz Au
• 2026‑2031 average: ≈300,000 oz Au per year.
• CEO Quote (Clive Johnson): Emphasized the milestone’s significance, thanked construction/operations teams and the Kitikmeot Inuit Association, and highlighted Goose as a cornerstone of B2Gold’s production base.
• Qualified Person: Bill Lytle, SVP & COO, certified under NI 43‑101, approved technical information.

Notable Quotes

“It is with great pleasure that we announce the Goose mine has achieved commercial production… The Goose mine will be a cornerstone of B2Gold's production base and demonstrates the strength of our construction and operating teams worldwide.” – Clive Johnson, President & CEO, B2Gold Corp.