B2Gold Corp.

Published : September 15th, 2011

La Libertad Exploration Results

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B2Gold Corp. Announces Further Positive Exploration Drill Results from La Libertad Mine property
in Nicaragua Increasing the Size of the Jabali Zones, and the Mojon West Deposit

Vancouver, September 15, 2011 - B2Gold Corp. (TSX: BTO, OTCQX: BGLPF) ("B2Gold" or the "Company"), is  pleased to announce further positive drilling results from the exploration and infill programs at La Libertad Mine property in Nicaragua. These results indicate that the Jabali Zones that generated the previously announced higher grade resources are increasing in size, and confirm the strong continuity of gold mineralization at Jabali Central. In addition, drilling has also continued to intersect strong gold mineralization at Mojon West, the new zone immediately west of the current Mojon open pit, and outside of the current reserves and pit model. B2Gold is projected to produce 93,000 to 99,000 ounces of gold from La Libertad open pit mine in 2011.

The significance of the continued high grade results from Jabali and the previously announced resource, is that this represents substantially higher grade ore (4.58 grams per tonne ("g/t") of gold), than the current average open pit grade at La Libertad of 1.8 g/t of gold, that can be trucked to La Libertad mill for processing to make up a portion of the mill feed resulting in higher annual gold production in the near term and going forward.

Based on the positive results from Jabali to date, the Company has commenced full permitting, environmental studies and metallurgical test work. The Company plans to commence mining from Jabali, delivering good grade colluvial material in late 2011 and open pit mining by late 2012.

La Libertad Property Exploration 

The 2011 exploration budget for La Libertad property has been increased to US$8.75 million to further explore the 20 kilometre ("km") long La Libertad gold belt and to drill the Jabali deposit to indicated resource status. Based on the 2010 drilling, the Company previously announced a resource at Jabali of 3.55 million tonnes at 4.58 g/t gold containing 522,000 ounces of gold. Drilling in 2011 commenced on January 24 with 172 holes totaling 24,345 metres drilled to date. Five drill rigs are currently on site and an additional drill rig is scheduled to arrive in September. The objectives of this year's program include the completion of the Jabali indicated resource (results expected to be released in early 2012), infill drilling of the eastern and western portions of San Juan to the indicated category and drilling to expand the western margins of the Mojon and Crimea pits.

Jabali Vein System 

The Jabali epithermal vein system is currently being explored in two zones, the Antenna and Central Zones, covering a combined strike length of 3.2 km, though the vein itself has a known strike length of 6.2 km. To date (2010 & 2011) a total of 197 drill holes (28,362 metres) have been completed at Jabali. The current Jabali drilling is focusing on the completion of the Central Zone indicated resource, Jabali Antenna indicated resource drilling and continued exploration drilling.

Central Zone 

The new results of Central Zone drilling show excellent gold grade and vein thickness continuity as well as the potential to expand the current resource. Highlights of the Central Zone drilling include hole JB11-137, located in the centre of the deposit at the base of the current resource, which intersected 5.5 metres true width grading 19.52 g/t gold, including 3.0 metres true width grading 34.63 g/t gold. This wide, high grade intersection lies on the boundary of the current resource model at depth.  JB11-121, also located in the centre of the deposit, intersected 9.89 metres true width grading 4.33 g/t gold, including 2.04 metres true width grading 8.09 g/t. This wide, high grade intersection is located 20 metres below the current resource model and remains open down plunge.

Other notable holes include: JB11-101 with 14.2 metres true width grading 2.95 g/t gold, JB11-113 with 8.5 metres true width grading 4.37 g/t gold, JB11-122 with 12.5 metres true width grading 3.51 g/t gold, JB11-125 with 11.5 metres true width grading 4.90 g/t gold, JB11-128 with 9.4 metres true width grading 3.56 g/t gold, JB11-117 with 11.5 metres true width grading 3.32 g/t gold, JB11-097 with 9.06 metres true width grading 4.06 g/t gold & 216.72 g/t silver and JB11-116 with 6.5 metres true width grading 5.55 g/t gold. Hole JB11-090 with 6.79 metres true width grading 4.04 g/t gold is located immediately west of and 30 metres below the current resource, which is open to the west.

Hole JB11-098 was drilled 650 metres west of the current Central Zone resource and intersected 4.34 metres true width grading 9.60 g/t gold. This hole targeted the down plunge extension of JB11-060 which intersected 10.7 metres true width grading 2.00 g/t gold. The mineralization is open down plunge. (See tables below for drill results summary)..

Central Zone drilling results are highlighted below:

Drill Hole

From
(metres)

To
(metres)

Interval
(metres)

True Width
(metres)

Gold
(g/t)

Silver
(g/t)

JB11-087

15.66

26.31

10.65

8.00

3.79

11.26

JB11-088

123.62

139.70

16.08

15.00

1.24

24.01

JB11-089

46.57

53.84

7.27

5.10

5.46

103.00

JB11-090

98.51

112.18

13.67

6.79

4.04

19.76

JB11-093

47.24

56.39

9.15

5.34

2.21

7.87

JB11-094

75.93

81.45

5.52

4.95

4.18

31.72

JB11-095

192.02

201.67

9.65

6.80

1.33

20.10

JB11-096

2.27

6.10

3.83

2.31

6.32

3.91

JB11-097

16.76

28.96

12.20

9.06

4.06

216.72

JB11-098

183.00

188.40

5.40

4.34

9.60

19.14

JB11-099

51.34

60.96

9.62

7.79

2.91

14.52

JB11-101

23.56

41.15

17.59

14.20

2.95

17.74

JB11-102

140.71

161.24

20.53

8.52

2.56

13.59

JB11-104

41.15

52.02

10.87

8.30

2.38

17.43

JB11-105

6.10

16.76

10.66

7.90

1.93

20.81

JB11-106

189.55

194.75

5.20

4.12

0.86

12.04

JB11-108

99.56

107.54

7.98

6.50

3.63

20.95

Drill Hole

From
(metres)

To
(metres)

Interval
(metres)

True Width
(metres)

Gold
(g/t)

Silver
(g/t)

JB11-109

84.32

92.97

8.65

7.00

1.29

7.77

JB11-110

80.77

95.56

14.79

13.13

1.34

4.80

JB11-112

60.71

71.55

10.84

8.00

2.33

27.03

JB11-113

16.76

28.96

12.20

8.50

4.37

51.20

JB11-114

131.40

141.63

10.23

8.50

1.42

4.18

JB11-115

96.12

105.08

8.96

7.50

1.53

12.79

JB11-116

35.05

42.67

7.62

6.50

5.55

9.85

JB11-117

69.58

83.07

13.49

11.50

3.32

9.39

JB11-118

106.45

122.96

16.51

13.50

1.94

10.69

JB11-119

44.20

57.54

13.34

8.90

1.73

27.26

JB11-121

141.11

154.84

13.73

9.89

4.33

11.91

JB11-122

115.51

132.15

16.64

12.50

3.51

9.41

JB11-123

15.24

29.22

13.98

10.00

2.06

10.28

JB11-124

12.19

24.38

12.19

9.30

4.54

30.34

JB11-125

70.43

85.71

15.28

11.50

4.90

16.18

Includes

75.59

82.39

6.80

5.10

9.12

27.98

JB11-126

105.47

119.80

14.33

11.20

2.17

11.14

JB11-127

104.36

129.54

25.18

19.90

2.02

10.92

JB11-128

25.80

37.65

11.85

9.40

3.56

27.39

JB11-130

57.12

72.60

15.48

12.00

3.01

14.72

JB11-133

51.42

65.21

13.79

10.90

1.89

7.50

JB11-137

142.23

148.80

6.57

5.50

19.52

28.46

Includes

142.23

145.77

3.54

3.00

34.63

49.92

All of the intercepts are quoted as uncapped.

Mojon Vein

To date a total of 31 drill holes totaling (4,610 metres) have been completed at the Mojon vein. Recent drilling has tested the area immediately west of the Mojon open pit. Highlights from this area which extends 250 metres west of the current Mojon open pit west wall include: MJ1-023 with 32.4 metres true width grading 1.39 g/t gold including 13.5 metres true width grading 2.19 g/t gold, MJ11-025 with 22.0 metres true width grading 1.62 g/t gold and MJ11-027 with 7.5 metres true width grading 2.17 g/t gold.      

Additional drilling is planned to evaluate the potential of this area with the intention to define an indicated resource immediately west of the current Mojon open pit, that could significantly increase the Mojon pit mine life.

Highlights of the Mojon drill intercepts:

Drill Hole

From
(metres)

To
(metres)

Interval
(metres)

True Width
(metres)

Gold
(g/t)

Silver
(g/t)

MJ11-023

34.50

70.90

36.40

32.40

1.39

3.50

Includes

34.50

50.40

15.90

13.50

2.19

4.64

MJ11-025

58.40

89.00

30.60

22.00

1.62

3.63

MJ11-027

117.45

127.00

9.55

7.50

2.17

4.66

MJ11-030

93.00

103.50

10.50

7.00

1.60

4.83

All of the intercepts are quoted as uncapped.
The exploration programs are reviewed and the results approved by Tom Garagan, B2Gold's Qualified Person under National Instrument 43-101. The programs utilize extensive QA/QC (quality assurance and quality control) protocols for assaying and sample handling that consist of the systematic insertion of blanks, standards and duplicates as well as using a secondary laboratory for regular check assaying. Core samples are cut with a diamond saw and then are brought to the Mine preparation laboratories where they are dried, crushed and pulverized. Samples from the La Libertad project (after preparation at the Mine) are sent directly to ALS Chemex Labs in Vancouver, British Columbia, Canada for gold and silver fire assay. Check assays are sent out on a quarterly basis to Skyline Laboratories in Tuscon, AZ.

la libertad explorat

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B2Gold Corp.

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CODE : BTO.TO
ISIN : CA11777Q2099
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B2Gold is a gold producing company based in Canada.

Its main assets in production are LIMON and LIBERTAD MINE in Nicaragua, its main assets in development are OROSI in Nicaragua and GRAMALOTE in Colombia and its main exploration properties are MOCOA and QUEBRADONA in Colombia, SAN PEDRO, CALIBRE, TREBOL, EL PAVON and MESTIZA-LA INDIA in Nicaragua, BELLAVISTA in Costa Rica and CEBOLLATI in Uruguay.

B2Gold is listed in Canada and in United States of America. Its market capitalisation is CA$ 4.6 billions as of today (US$ 3.7 billions, € 3.2 billions).

Its stock quote reached its lowest recent point on October 24, 2008 at CA$ 0.30, and its highest recent level on August 07, 2020 at CA$ 9.99.

B2Gold has 973 449 984 shares outstanding.

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