Name of the Project
Fekola gold mine expansion project.

Location
Mali.

Project Owner/s
B2Gold.

Project Description
Fekola has total mineral reserves of 56.73-million tonnes grading 1.74 g/t gold and indicated resources of 147.6-million tonnes grading 1.33 g/t gold, as well as inferred resources of 85.51-million tonnes grading 1.12 g/t of gold.

The project comprises the Fekola mine, with the Medinandi permit hosting the Fekola and Cardinal zones; and Fekola Regional, with the Anaconda Area hosting the Bantako, Menankoto, Bakolobi and Dandoko permits.

B2Gold is progressing an engineering study of a Fekola Regional standalone mill and oxide processing facilities, which are expected to be located on the Anaconda Area.

Construction of a standalone oxide mill would constitute Phase 2 of the Fekola Regional development plan. The engineering study will be based on processing four-million tonnes a year of saprolite and transitional (oxide) resources.

The optimisation study analysis indicates that the combined Fekola mine and Fekola Regional processing facilities could produce more than 800 000 oz/y of gold from the Fekola Complex, subject to the delineation of additional mineral resources and development, the completion of feasibility studies and the receipt of all necessary regulatory approvals and permits.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
Not stated.

Latest Developments
B2Gold is advancing the engineering study, to be released in the first quarter of 2024, which will outline the two development options to process gold from Fekola Regional.

Fekola Complex optimisation work continues to maximise project value from all the various oxide and sulphide material sources, including the Fekola Pit, Fekola Underground and the Cardinal Pit, as well as the Bantako North, Menankoto, Bakolobi and Dandoko permits.

Extending the oxide and sulphide processing life of the Fekola mill or construction of a new oxide processing plant is subject to the delineation of additional mineral resources and development, the completion of feasibility studies and the receipt of all necessary regulatory approvals and permits, the gold producer has stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
B2Gold, tel +1 604 681 8371 or email investor@b2gold.com.