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A PROFITABLE, GROWTH-ORIENTED,INTERMEDIATE GOLD PRODUCER

SEPTEMBER 2015

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Cautionary Statement

This presentation includes certain “forward-looking statements” within the meaning of applicable securities laws. All statements, other than statements of historical fact, included herein including, without limitation, statements relating to B2Gold’s future operating or financial performance, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “plans”, “expects”, “anticipates”, “budgets”, “believes”, “intends”, “estimates”, “potential”, “possible” and similar expressions, or statements that events, conditions or results “will”, “may”, “could”, or “should” occur or be achieved. These forward-looking statements may include statements regarding perceived merit of properties; anticipated production; exploration results and budgets; mineral reserves and resource estimates; work programs; capital expenditures; timelines; strategic plans; completion of transactions; market price of precious base metals; or other statements that are not statements of fact. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations include the uncertainties involving [risks of construction and mining projects such as accidents, equipment breakdowns, bad weather, non-compliance with environmental and permit requirements, unanticipated variation in geological structures, ore grades or recovery rates; unexpected cost increases; fluctuations in metal prices and currency exchange rates; the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; the need for cooperation of government agencies in the development and operation of properties; the need to obtain permits and governmental approvals;] and other risk and uncertainties disclosed in reports and documents filed by B2Gold with applicable securities regulatory authorities from time to time. The forward-looking statements made herein reflect our beliefs, opinions and projections on the date the statements are made. Except as required by law, we assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change. 

Tom Garagan, Senior Vice President of Exploration, a Qualified Person as defined by National Instrument 43-101, has approved the scientific and technical information concerning B2Gold Corp. discussed herein.

(All amounts in this presentation are expressed in United States dollars, unless otherwise stated).

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Growing, Profitable Gold Producer Four producing gold mines New Otjikoto Mine in Namibia commenced production in December 2014 ahead of schedule and on

budget, achieved commercial production in Q1 2015 Completed Fekola Feasibility Study June 2015

Strong Record of Operational Execution Strong Financial Position

Recent $350 million corporate facility Good Access to Capital Proven Management Team

Former management and technical teams of Bema Gold Strong teams in Nicaragua, the Philippines, Namibia, Mali and Burkina Faso Ability to discover, finance, build and operate profitable gold mines around the world

Demonstrated History of Accretive Acquisitions and Exploration Success

About B2Gold

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4

World Map

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Share Capital

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Ownership Breakdown Million Shares (1)

Total Shares Issued and Outstanding       926,662,317

Directors and Management30,722,840

Stock Options 61,036,743

Restricted Shares Units 1,785,691

Total Shares Fully Diluted 989,487,751

Market Capitalization (Basic) (2) $1,510,459,577

Market Capitalization (Fully Diluted)(3) $1,612,865,034

(1) Approximate figures are as of Sept. 2, 2015  

(2) Based on the shares currently issued x the closing price of B2Gold shares of $1.63 per share on Sept. 2, 2015.

(3) Based on the fully diluted shares x the closing price of B2Gold shares of $1.63 per share on Sept. 2, 2015.

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2015 First Half Highlights

Record half-year consolidated gold production of 237,425 ounces (including 18,815 ounces of pre-commercial production from Otjikoto), an increase of 30% over the same period in 2014

Consolidated gold revenue of $275.4 million (or record half-year consolidated gold revenue of $298.5 million including $23.1 million of pre-commercial sales from Otjikoto)

Record half-year gold sales of 229,222 ounces (or 247,688 ounces including 18,466 ounces of pre-commercial sales from Otjikoto)

Consolidated cash operating costs of $688 per ounce, $62 per ounce or 8% below budget

All in Sustaining Costs of $1,072 per ounce, $148 per ounce or 12% below budget2015 Production Guidance Projected consolidated gold production of 500,000-540,000 ounces at an average

operating cash cost of $630-$660 per ounce Projected All in Sustaining Costs of approx. $950-$1,025 per ounce

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Gold ProductionMasbate, Philippines – Open pit mine2014 gold production was 186,195 ounces of gold, at an average cash operating cost of $724 per ounce goldQ-2 gold production was 41,236 ounces of gold at cash operating cost of $782 per ounce First half gold production was 87,477 ounces of gold at a cash operating cost of $725 per ounceFirst half All in Sustaining Costs of $1,029 per ounce goldIn 2015 Masbate is projected to produce 170,000-180,000 ounces of gold at operating cash costs of $740-$775 per ounce

Otjikoto, Namibia - Open pit mineQ-2 gold production was 36,963 ounces of gold at cash operating costs of $485 per ounceFirst half gold production was 68,097 ounces at cash operating costs of $483 per ounce (1)

First half All in Sustaining Costs of $615 per ounce goldIn 2015 Otjikoto is projected to produce 140,000-150,000 ounces of gold at operating cash costs of $500-$525 per ounce

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(1) Includes 18,815 ounces of pre commercial production, cash operating costs are calculated from March 1st to June 30th as commercial production was achieved on February 28th

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Gold Production (Con’t)

La Libertad Mine, Nicaragua - Open pit mineTotal gold production for 2014 was a record 149,763 ounces at cash operating costs of $572 per ounce goldQ2 2015 production was 27,681 ounces of gold at cash operating costs of $813 per ounceFirst half gold production was 53,007 ounces of gold at cash operating costs of $826 per ounceFirst half All in Sustaining Costs of $1,164 per ounce gold In 2015 La Libertad is projected to produce 135,000-145,000 ounces of gold at cash operating costs of $605-$635 per ounce

El Limon Mine, Nicaragua - Open pit and underground mineTotal gold production for 2014 was 48,045 at cash operating costs of $844 per ounce goldQ2 2015 gold production was 15,686 ounces at an average operating cash cost of $615 per ounceFirst half gold production was 28,844 ounces of gold at cash operating costs of $671 per ounceFirst half All in Sustaining Costs of $1,259 per ounce gold In 2015 El Limon is projected to produce 55,000-65,000 ounces of gold at cash operating costs of $680-$710 per ounce

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Mining in Namibia

Population of 2.3 million (2011 World Bank estimate)

Strong history of mining

Mining plays vital role in the Namibian economy

Stable Government

Encourages foreign investment

Mining corporate tax rate 37.5%, NSR 3% Favourable tax treatment on capital expenditures

Good national infrastructure

Otjikoto Project infrastructure

3km from paved National Highway B1

Good water supply on site

Self generating power supply

Deep water port access (Walvis Bay)

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WALVIS BAY

ANGOLA

BO

TS

WA

NA

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Otjikoto Mine (1)

Commenced production on December 11, 2014, on budget and ahead of schedule

Otjikoto Preliminary Mine Plan Probable open pit mineral reserves for the main Otjikoto ore body are 26.5 million tonnes at 1.42 g/t gold

containing 1.21 million ounces of gold(2)

5 year average production of 180,000 ounces of gold per year at an average operating cash cost of $445 - $470 (3)

LOM average is 175,000 over 9 years at $550 - $575 per ounce gold (excludes last two years of processing stockpiled ore)

Commercial production achieved in Q1 2015 Continued excellent safety record

Updated Production Schedule Including Wolfshag Zone(3) Plant and supporting infrastructure has been built to provide for a plant expansion from initial design capacity of

2.5 million tonnes per annum to 3.0 million tonnes per annum by the third quarter of 2015 (on schedule). This will increase annual gold production to approximately 200,000 ounces in 2016 and 200,000 ounces in 2017,

including open pit mining from Wolfshag beginning in late 2016 Wolfshag zone has an inferred resource of 2.6 million tonnes at 8.14g/t gold containing 675,000 ounces gold

which could facilitate a further increase in annual gold production (2) (infill and exploration drilling ongoing) The measured and indicated resource is 1.035 million tonnes at 2.81 g/t containing 93,000 ounces of gold

• All figures based on a 100% basis, B2Gold 90% ownership • Calculated using $1,350 gold (3) Includes a portion of the Wolfshag Zone inferred resource which requires further drilling to move to reserve category 10

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Otjikoto Gold Mine

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Batch Plant

Office

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Otjikoto Project MapWolfshag Zone

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Africa’s 3rd largest gold producer– 8 mines operating in a 40+ Moz District includes

Fekola– Northern Mali conflict – no meaningful impact on

SW Mali operations 2013 democratic elections successfully concluded

– Widely praised for transparency – new government formed

Favourable fiscal regime– Government very supportive of mining – recent

mining conventions– No restrictions on foreign investment or capital

flows in and out of Mali New Mining Act 2012 being implemented

– Fekola Environmental permit granted May-13– Fekola Mining permit granted Feb-14

Teranga

AngloGold

Anglogold

Randgold

Endeavour

Sabodala

Randgold

Papillon

40+ Moz District

Mining In Mali

B2Gold

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Fekola Project, Mali

Merger with Papillon Resources completed on October 3, 2014 to acquire the Fekola Project and various exploration projects in Mali

B2Gold Preliminary Economic Assessment filed August 13, 2014

B2Gold Final Feasibility Study filed June 11, 2015

Significant, ongoing, resource growth and exploration potential; Mineralization open down plunge on

the main Fekola deposit

Additional targets on the property

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Fekola Feasibility Highlights(1)

Open pit gold mine with an initial production life of mine (“LOM”) of 12.5 years based on probable mineral reserves

Average annual gold production for years one through seven of 350,000 ounces per year at a $418 operating cash cost per ounce

Average annual LOM gold production of 276,000 ounces per year at an operating cash cost of $552 per ounce

New open pit probable mineral reserves of 49.2 million tonnes at a grade of 2.35 grams per tonne (“g/t”) gold containing 3.72 million ounces of gold (2) at a stripping ratio of 4.5:1

Average LOM gold recovery of 92.8% resulting in a total of 3.45 million ounces produced over the 12.5 year life of mine

(1) 100% basis(2) Using $1,300 gold and an elevated cut off grade of 0.8 grams per tonne

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Fekola Feasibility Highlights(1)

(Cont.)

Estimated pre-production capital cost of $395 million plus $67 million for fleet and generator costs which are expected to be lease financed. This does not include approximately $30 million of early works which were completed June 30th 2015

Cumulative LOM net cash flow pre-tax of $1.67 billion at an assumed gold price of $1,300 per ounce

Net present value (“NPV”) pre-tax of $1.01 billion at a 5% discount rate generating a pre-tax internal rate of return (“IRR”) of 34%

Plant and supporting infrastructure will be built to a design throughput of 4.0 million tonnes per annum with a 25% design factor which allows for future throughput expansion with minimal additional capital outlay

Pre-construction activities have commenced at the Fekola Project and, based on current assumptions, commencement of production is expected in the fourth quarter of 2017

(1) 100% basis

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Fekola Project, MaliConstruction Update

Improving the existing access road between Kenieba and the site (complete)

Construction of a new site access road (materially complete)

Construction of an on-site airstrip designed to allow personnel to fly directly in and out of the site (90% complete)

Construction of the camp pad and commencement of excavations within the mill footprint well underway

Excavation and stockpiling of sand and gravel from the local river for construction purposes continues

All critical tasks have been completed to allow B2Gold to continue with the development of the project through the rainy season (June through September)

On schedule for gold production at the end of the fourth quarter 2017

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(1) Based on current assumptions (2) Actual(3) Does not include 7,159 ounces of pre-commercial production from Otjikoto Mine(4) Fekola commencing production late 2017 or early 2018, production based on average annual production over first 7 years

Projected Annualized Production Rate (koz)

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Projected Production

(4)

~350

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Kiaka Project (1)(2)

One of the largest undeveloped gold resources in West Africa Volta Prefeasibility Study based on 12 million tonnes per annum plant, producing 340,000 ounces of gold

per year for 10.3 years at an average operating cash cost $671 per ounce 124.1 million tonnes at 0.99 g/t gold for 3.9 million ounces in Measured and Indicated Category and 27.3 million tonnes at 0.93 g/t for 815,000 ounces in the Inferred Category (3)

Included in the Measured and Indicated resources are 54.0 million tonnes at 1.49 g/t for 2.58 million ounces in the Measured and Indicated Category (4)

Mostly contained in a single, potential large open pit containing a wide orebody leading to a low stripping ratio of 2.95:1

Projected gold recoveries of approximately 90% For Feasibility Study, smaller throughput cases with higher grade and lower capital costs will be reviewed Feasibility Study is expected to be completed in the first half of 2016, all permits expected by year end Multiple additional targets in similar structural settings located on the 183.8 km2 property

(1)Based on Volta Resources disclosure

(2)On a 100% basis, B2gold ownership 81%

(3) The mineral resource estimate for the Kiaka Project was prepared as of January 8, 2013 by Ben Parsons, MSc, MAusIMM (CP), Principal Consultant for SRK Consulting (UK) Limited, a Qualified Persons defined under NI 43-101. Attributable mineral resources are reported at 81% of the total mineral resource. Notwithstanding our current ownership percentage of the Kiaka Project is 90%, the attributable portion of the mineral resource has been reduced to 81% to reflect the expected reduction in our ownership percentage in the Kiaka Project upon commencement of construction and development and the 10% overall ownership percentage that will be attributable to the Burkina Faso government in accordance with applicable laws.

(4)Based on 1.0 gram per tonne cut off, 100% basis

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Gramalote Project, Colombia (1)

B2Gold (49%) / AngloGold (51%)

B2Gold completed a Preliminary Economic Assessment in March 2014

Measured and Indicated Resource of 132.7 million tonnes grading 0.63 g/t for 2.6 million ounces of gold

Inferred Resource of 239.7 million tonnes grading 0.44 g/t for 3.4 million ounces

16 million tonnes per year, 95% recoveries, 14 year mine life

Estimated average LOM gold production of 317,500 ounces per year at $664 direct cash cost per ounce

Estimated preproduction capital costs: $1.176 billion

Net present value (“NPV”) pre-tax of $714 million and after-tax of $398 million at a 5.06% discount rate and gold price of $1,351 per ounce generating an after-tax internal rate of return (“IRR”) of 11.5%

Positive economics at today’s gold prices, however not on B2Gold’s priority list to develop a Feasibility study at this time

Will continue, with partners, to advance the Environmental Impact Study (1) All figure on a 100% basis

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CSR ActivitiesStrong devotion to Corporate Social Responsibility •Recipient of National CSR Award under the category of "Economic Empowerment and Community Impact“ in Nicaragua

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Namibia

Nicaragua

Namibia

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Growth Strategy

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Focus on core assets Optimize production at existing mines

Cost control Brownfields exploration Potential expansion

Continue Fekloa Mine construction Scheduled for production late 2017

Advance development projects Kiaka Project- Feasibility stage Gramalote Project- Permitting

Maintain strong cash position Exploration initiatives

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Appendix

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Revolving Credit Facility

On May 20, 2015, the Company signed a credit agreement for a new $350 million Revolving Credit Facility (the “new RCF”) which, subsequently, closed June 11, 2015

4 year term maturing May 20, 2019

Allows for an accordion feature whereby the Facility may be increased to $450 million at any time prior to maturity

HSBC, as Sole Lead Arranger and Sole Bookrunner, will act as the Administrative Agent

Syndicate includes The Bank of Nova Scotia, Société Générale and ING Bank N.V, as Mandated Lead Arrangers

Interest on a sliding scale of between LIBOR plus 2.25% to 3.25% based on Company’s consolidated net leverage ratio

Commitment fees for undrawn portion will also be on a similar sliding scale basis of between 0.5% and 0.925%

Initial drawdown of $150 million used to repay the $150 million drawn down on existing $200 million facility

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Mining in Nicaragua

Long mining history with a strong Mining Law

Rated the safest country in Central America

Modern infrastructure and easily accessible

Democratic Republic since 1990. Government supportive of foreign investment

Tax regime – 3% NSR and 30% Net Profits Tax

Currency pegged to USD, no foreign currency risk

B2Gold is one of the major employers in Nicaragua with more than 2,000 employees and contractors

B2Gold is the largest exporter of gold in the country and the largest individual exporting company in the country

Major contributor to local and national economy, one of the largest tax payers

Strong commitment to social programs

MINING AND EXPLORATION

CALIBRE JV

EXPLORATION

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Cerro QuirozN-S vein targetEIA permit pending

Cerro QuirozN-S vein targetEIA permit pending

Surface Surface ExplorationExploration

Jabali Antenna E.-UG Drilling-Commenced

Jabali Antenna E.-UG Drilling-Commenced

High grade UG High grade UG drill programdrill program

Drill programsDrill programs

Chamarro - SocorroChamarro - Socorro

LA LIBERTAD 2015Current Exploration Targets

LA LIBERTAD 2015Current Exploration Targets

Jabali WestWaste pit

Completed

Jabali WestWaste pit

Completed

2015 Budget2015 Budget$ 5.04 million$ 5.04 million

13,100 m13,100 m

Los Angeles extensionsPhase 1 Complete

Los Angeles extensionsPhase 1 Complete

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Drill TargetDrill Target

EL LIMON 2015Current Exploration Targets

EL LIMON 2015Current Exploration Targets

Loma SolaLoma SolaVeta NuevaVeta Nueva

Generative Generative TargetTarget

Bonete ConcessionBonete Concession

Bonete - Limon ConcessionBonete - Limon Concession

SP1SP1Pozo #2 / #8Pozo #2 / #8

TecomapaTecomapa

Veta Larga / PortalVeta Larga / Portal

2015 Budget2015 Budget$ 4.18 million$ 4.18 million

9,400 m9,400 m

TalaveraTalavera AtravezadaAtravezada

Planned/Executed Drill TargetsPlanned/Executed Drill Targets

Aparejo - MercedesAparejo - Mercedes

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Long Mining History

Good Mining Investment Climate and Strong

Mineral Potential

Favourable Investment/Tax regime, 30%

corporate tax , 2% excise tax; income tax holiday

for B2Gold until June 2016, could be extended to

2017

Government has endorsed the B2Gold / CGA

merger as “A vote of confidence in the

Philippines.”

Masbate Mine is Largest Source of Masbate

Island GDP

Mining in The Philippines

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MasbateMasbateOverviewOverview

MasbateMasbateOverviewOverview

MontanaMontana

ColoradoColorado

South ZoneSouth Zone

Main VeinMain Vein

Pajo WestPajo West

PHRC1012.0 g/t Au / 7.1 m

PajoPajo

Pajo Mid

Pajo Mid

PHRC1125.82 g/t Au / 3.8m

Dabu VeinsDabu Veins

PHRC1191.82 g/t Au / 5.9 m

PHRC1140.99 g/t Au / 6.7m

PHRC1131.61 g/t Au / 12.2m

PHRC0791.71 g/t Au / 11 m

Pajo EastPajo East

Trench values to:1.29 g/t Au / 38 m

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Fekola 7 Stage Open Pit

• 9.5 year mine life at 32Mtpa mining rate including prestripping

• Initial 4 stages• 75% of reserves • Economic to $700/oz

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Kiaka Project

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Burkina Faso Properties

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Kiaka DepositKiaka Deposit

200m

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Exploration Budgets 2015

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Notes: (1) The Mineral Reserves reported herein are based on the CIM standards. Mineral Reserves have been rounded to reflect the accuracy of the estimate and numbers may not add due to rounding. Mineral Reserves reported herein are fully diluted. (2) The Mineral Reserve estimates for Limon and Masbate projects were compiled and verified as of December 31, 2014 under the supervision of Kevin Pemberton, P.E. (Florida, USA), Chief Mine Planning Engineer, and a Qualified Person as defined under NI 43-101. The estimates reflect the attributable Mineral Reserves based on our 95% interest in the Limon Mine. Pursuant to the ore sales and purchase agreement between PGPRC and FRC, our wholly-owned subsidiary, PGPRC has the right to purchase all ore from the Masbate Mine and as such, the Mineral Reserve estimates above reflect 100% of the estimated Mineral Reserves for the Masbate Mine. (3) The Mineral Reserve estimates for the Otjikoto Mine were prepared as of December 31, 2014 by Peter Montano, P.E. (Colorado, USA), Senior Project Engineer, and a Qualified Person as defined under NI 43-101. The estimates reflect the attributable Mineral Reserves based on our 90% interest in the Otjikoto Mine. (4) The Mineral Reserve estimates for La Libertad Mine were compiled and verified as of December 31, 2014 by Mr. Donald Hulse, VP of Mining for Gustavson Associates, LLC and a Professional Engineer in the State of Colorado and a Qualified Person as defined under NI 43-101. The estimates reflect a 100% interest in La Libertad Mine.

Reserves Estimates(1)

As of December 31, 2014

Mineral Reserves Estimates (1)

Mine Tonnes Gold Grade (g/t) Contained Gold Ounces

La Libertad (4) 7,940,000 1.66 424,000

Masbate (2) 101,910,000 0.92 3,004,000

Otjikoto (3) 26,300,000 1.41 1,196,000

El Limon (2) 1,370,000 4.89 216,000

Total Probable Mineral Reserves 4,840,000

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Measured and Indicated Mineral Resource Estimates(1)

As of December 31, 2014

Measured Mineral Resources (1)

  Tonnes Grade (g/t) Contained Gold Ounces

Fekola(6) 53,060,000 1.89 3,224,000

Kiaka(7) 27,310,000 1.09 953,000

Gramalote(8) 14,210,000 0.79 359,000

Total Measured Mineral Resources     4,536,000

Indicated Mineral Resources (1)

Mine Tonnes Gold Grade (g/t) Contained Gold Ounces

Masbate(4) 131,240,000 0.92 3,893,000

La Libertad(2) 9,770,000 2.07 650,000

Otjikoto(5) 30,460,000 1.47 1,435,000

Fekola(6) 22,230,000 1.94 1,387,000

Kiaka(7) 96,830,000 0.96 2,986,000

Limon(3) 2,630,000 5.36 453,000

Gramalote(8) 50,830,000 0.59 960,000

Pavon(9) 290,000 5.82 55,000

Total Indicated Mineral Resources     11,817,000

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Measured and Indicated Mineral Resource Estimates (1)

As of December 31, 2014

Measured and Indicated Mineral Resources (1)

Mine Tonnes Gold Grade (g/t) Contained Gold Ounces

Masbate(4) 131,240,000 0.92 3,893,000

La Libertad(2) 9,770,000 2.07 650,000

Otjikoto(5) 30,460,000 1.47 1,435,000

Fekola(6) 75,290,000 1.9 4,611,000

Kiaka(7) 124,140,000 0.99 3,938,000

Limon(3) 2,630,000 5.36 453,000

Gramalote(8) 65,040,000 0.63 1,319,000

Pavon(9) 290,000 5.82 55,000

Total Measured and Indicated Mineral Resources

    16,353,000

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Inferred Mineral Resource Estimates (1)

As of December 31, 2014

Inferred Mineral Resources (1)

Mine Tonnes Gold Grade (g/t) Contained Gold Ounces

Masbate(4) 9,780,000 1.16 366,000

La Libertad(2) 6,120,000 2.59 510,000

Otjikoto(5) 4,520,000 4.65 676,000

Fekola(6) 6,180,000 1.69 336,000

Kiaka(7) 27,330,000 0.93 815,000

Limon(3) 1,580,000 4.73 241,000

Gramalote(8) 117,450,000 0.44 1,648,000

Pavon(9) 130,000 5.5 23,000

Total Inferred Mineral Resources     4,615,000

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Notes to Resource Estimates

Notes:

(1)Mineral Resources are estimated using best practices as defined by the CIM and reporting of Mineral Resources is compliant and in accordance with the disclosure requirements of NI 43-101. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an indicated or measured Mineral Resource as a result of continued exploration. Mineral Resources are reported inclusive of Mineral Reserves. Mineral Resource numbers have been rounded to reflect the accuracy of the estimate and numbers may not add due to rounding.

(2)The Mineral Resources estimates for La Libertad Mine were compiled and verified as of December 31, 2014 by Mr. Donald Hulse, VP of Mining for Gustavson Associates, LLC and a Professional Engineer in the State of Colorado and a Qualified Person as defined under NI 43-101. The estimates reflect a 100% interest in La Libertad Mine.

(3)Mineral Resource estimates for the Limon Mine were compiled and verified as of December 31, 2014 under the supervision of Brian Scott, P.Geo., our Vice President Geology and Technical Services, and a Qualified Person as defined under NI 43-101. The estimates reflect the attributable Mineral Resources based on our 95% interest in the Limon Mine.

(4)Mineral Resource estimates for the Masbate Mine have an effective date of December 31, 2014 and were prepared under the supervision of Tom Garagan, P.Geo., our Senior Vice President of Exploration, and a Qualified Person as defined under NI 43-101. Pursuant to the ore sales and purchase agreement between PGPRC and FRC, our wholly-owned subsidiary, PGPRC has the right to purchase all ore from the Masbate Mine and as such, the Mineral Resources are reported at 100% interest.

(5)Mineral Resource estimates for the Otjikoto Mine and the Wolfshag Zone were prepared under the supervision of Mr. Tom Garagan, P.Geo., Senior Vice President of Exploration, and a Qualified Person as defined under NI 43-101. The estimates reflect the attributable Mineral Resources based on our 90% interest in the Otjikoto Mine. The Mineral Resource estimates for Otjikoto and Wolfshag are effective as of December 31, 2014.

(6)Mineral Resource estimates for the Fekola Project were prepared as of August 5, 2013 by Nic Johnson, MAIG, and a Qualified Person as defined under NI 43-101. Notwithstanding our current 100% ownership of the Fekola Project, the attributable portion of the mineral resource has been reduced to 90% to reflect the expected reduction in our ownership percentage in the Fekola Project upon the creation of an exploitation company and the 10% overall ownership percentage that will be attributed to the Mali Government in accordance to applicable laws.

(7)The Mineral Resource estimate for the Kiaka Project was prepared as of January 8, 2013 by Ben Parsons, MSc, MAusIMM (CP), Principal Consultant for SRK Consulting (UK) Limited, a Qualified Person as defined under NI 43-101. Attributable Mineral Resources are reported at 81% of the total Mineral Resource. Notwithstanding our current ownership percentage of the Kiaka Project is 90%, the attributable portion of the Mineral Resource has been reduced to 81% to reflect the expected reduction in our ownership percentage in the Kiaka Project upon commencement of construction and development and the 10% overall ownership percentage that will be attributable to the Burkina Faso government in accordance with applicable laws.

(8)The Mineral Resource estimate for the Gramalote Project (Gramalote Central, Trinidad and Monjas West) was prepared by Gramalote Colombia Limited personnel as of December 31, 2013 under the supervision of Mr. Vaughan Chamberlain, FAusIMM, Senior Vice President: Geology and Metallurgy for AngloGold and a Qualified Person as defined under NI 43-101. The estimate reflects the attributable Mineral Resources based on our 49% interest in the Gramalote Project.

(9) Mineral Resource estimates for the Pavon project were prepared as of November 14, 2014 under the supervision of Brian Scott, P.Geo., our Vice President Geology and Technical Services, and a Qualified Person as defined under NI 43-101. The estimate reflects the attributable Mineral Resources based on our 100% interest in the project.

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B2Gold Corp.

3100 - 595 Burrard StreetP.O. Box 49143

Vancouver BC V7X 1J1, Canada

Tel: +604 681 8371 Fax: +604 681 6209

investor@b2gold.comwww.b2gold.com

Clive Johnson President, CEO+604 681 8371

Ian MacLeanVice President, Investor Relations

+604 681 8371

Contact Details