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B2Gold’s Menankoto permit in Mali has not been renewed

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(Kitco News) - B2Gold (TSX: BTO) announced today an update on the Menankoto exploration permit in Mali, which forms a part of the Anaconda area and is located 20 kilometres north of the Fekola mine license area.

The company said that its Malian subsidiary, Menankoto SARL, applied for a one year renewal of the Menankoto permit in early February 2021 and was subsequently advised in early March 2021 that the new permit would not be granted to Menankoto.

According to the company’s statement, B2Gold strongly believes that Menankoto is entitled to a renewal of the permit under applicable law and is engaged in ongoing discussions with the Malian Government to clarify the situation.

The current life of mine plan for the Fekola mine, which is projected to produce 530,000 to 560,000 ounces of gold in 2021, does not include the Anaconda area mineral resource, added B2Gold.

B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines and numerous exploration and development projects in various countries including Mali, Colombia and Burkina Faso. B2Gold forecasts total consolidated gold production of between 970,000 and 1,030,000 ounces in 2021.

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