B2Gold achieves commercial production at Goose Mine

B2Gold (BTG) announced that the Goose Mine, part of the Back River Gold District, located in Nunavut, Canada, achieved commercial production on October 2, 2025. B2Gold has declared commercial production at the Goose Mine based on an internal commercial production measure of 30 consecutive days of average mill throughput at 65% or greater based on the mill design capacity of 4,000 tonnes per day. From September 3, 2025 through October 2, 2025, the mill achieved an average throughput of 2,652 tpd, which represents 66% of design capacity. Mill feed over the 30-day commercial production period has been predominantly from the mined out Echo open pit. Crushed ore availability has significantly increased in the second half of September as the supplemental mobile crusher has been integrated with the primary crushing plant. From September 19, 2025 to October 2, 2025, ore has been crushed at a rate of 183 tonnes per hour. Through this same period, the mill has achieved an average throughput of 3,249 tpd, which represents 81.2% of design capacity. B2Gold believes that the Goose mill can operate near 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 will predominantly come from the Umwelt deposit and is expected to average 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. The Company reiterates the 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 of approximately 300,000 ounces per year, based only on existing Mineral Reserves.