B2Gold : Strong Q2 2022 Results

B2Gold Corporation ("B2Gold")

Registration No. BC0776025

Registered as an external company in Namibia

ISIN Code: CA11777Q2099

NSX Share Code: B2G

• B2Gold Reports Strong Q2 2022 Results with
• Cash Operating Costs and All-In Sustaining Costs Below Budget;
• Full-year2022 Total Consolidated Gold Production and Cost Guidance Remains Unchanged

Vancouver, August 3, 2022 - B2Gold Corp. (TSX: BTO, NYSE AMERICAN:

BTG, NSX: B2G)

("B2Gold" or the "Company") is pleased to announce its operational and financial results for the second quarter and first half of 2022. The Company previously released its gold production and gold revenue resultsfor the second quarter and first half of 2022. All dollar figures are in United States dollars unless otherwiseindicated.

2022 Second Quarter Highlights

• Total gold production of 223,623 ounces (including 14,765 ounces of attributable production from Calibre Mining Corp. ("Calibre")), slightly above budget by 1% (2,154 ounces), and consolidated goldproduction of 208,858 ounces from the Company's three operating mines, in line with budget
• Consolidated gold revenue of $382 million on sales of 205,300 ounces at an average realized gold priceof $1,861 per ounce
• Fekola's mill throughput was a quarterly record of 2.42 million tonnes, 8% above budget and 6% higherthan the second quarter of 2021
• Total consolidated cash operating costs (see "Non-IFRSMeasures") (including estimated attributableresults for Calibre) of $781 per ounce produced and consolidated cash operating costs from the Company's three operating mines of $766 per ounce produced, both 2% below budget
• Total consolidated all-in sustaining costs ("AISC") (see "Non-IFRSMeasures")
  (including estimated attributable results for Calibre) of $1,111 per ounce sold and consolidated AISC from the Company's three operating mines of $1,109 per ounce sold, both well below budget by 7%
• Net income attributable to the shareholders of the Company of $38 million
  ($0.04 per share); adjustednet income (see "Non-IFRSMeasures") attributable to the shareholders of the Company of $45 million($0.04 per share)

• On July 3, 2022, the Economic Community of West African States ("ECOWAS") removed the economic, financial and diplomatic sanctions imposed on Mali earlier in 2022 following the interim Malian Government's announcement of a two-year transition to presidential elections and the promulgation of a new electoral law. As a result, Mali's borders with its neighbours are now open to normal commercial traffic and ordinary supply routes are once again availableThe Company remains in a strong net positive cash position and paid a second quarter dividend of $0.04per common share (annualized rate of $0.16 per common share), representing one of the highest dividend yields in the gold sector
• The Company recently announced the acquisition of Oklo Resources Limited ("Oklo"), which will provide B2Gold with an additional landholding of 1,405 km2 covering highly prospective greenstone belts in Mali, including Oklo's flagship Dandoko project (550 km2), located approximately 25 kilometres from each of the Fekola Mine and the Anaconda area. The transaction is expected to be completed in mid-September 2022
• B2Gold published its sixth annual Responsible Mining Report entitled "Raising the Bar", which detailsB2Gold's global economic contributions and its environmental, social, and governance management practices, together with the Company's performance against key indicators in 2021

This announcement can also be found at the following link:

http://www.investorx.ca/Doc/2208031618208237

On Behalf of B2GOLD CORP.

Clive T. Johnson

President & Chief Executive Officer

4 August 2022

Registered Office

20 Nachtigal Street

Ausspannplatz

Windhoek

Namibia

Sponsor

IJG Securities (Pty) Ltd Member of the NSX

4th floor 1@Steps,c/o Grove and Chasie Street Kleine Kuppe, Windhoek

P O Box 186, Windhoek, Namibia Registration No. 95/505