B2Gold Corp. Announces 2012 Exploration Results and 2013 Plans and Budgets for the Company's Portfolio of Development and

B2Gold Corp. Announces 2012 Exploration Results and 2013 Plans and Budgets for 
the Company's Portfolio of Development and Exploration
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/29/13 -- B2Gold
Corp. (TSX:BTO)(OTCQX:BGLPF)(NAMIBIAN:B2G) ("B2Gold" or the
"Company") is pleased to announce 2012 exploration drilling results
and 2013 plans and budgets for the Company's development and
exploration properties in Nicaragua, Philippines, Namibia, Colombia
and Uruguay. All dollar figures are in United States dollars unless
otherwise indicated. 
Development Projects 
Jabali Deposit Development, La Libertad Property, Nicaragua (B2Gold
The Jabali deposit at La Libertad property in Nicaragua is located
approximately 15 kilometres ("km") east of the mill facility at La
Libertad Mine and consists of two zones, the Antenna and Central
Zones that cover a combined strike length of 3.2 km, though the vein
itself has a known strike length of 6.2 km. 
The 2013 budget for the development of the Jabali deposit is
approximately $16.9 million. This budget will fund the completion of
construction of a 15 km private haul road for transporting the Jabali
deposit ore to La Libertad mill, and for mine infrastructure
development, engineering and socio-economic programs. The Company has
received the mining permit for the Jabali Central deposit and plans
to commence the shipping of Jabali ore to the Libertad mill in the
first quarter of 2013, initially utilizing the upgraded existing
road. The development and pre-stripping capital costs for the Jabali
Central deposit are included in the Libertad 2013 capital budget as
disclosed in the news release dated January 18, 2013. 
The Jabali deposit has an indicated mineral resource of 4.19 million
tonnes at 3.39 g/t gold containing 456,863 ounces of gold and an
inferred mineral resource of 1.89 million tonnes at 3.06 g/t gold
containing 186,610 ounces of gold (see news release dated April 05,
2012). These grades are considerably higher than the current average
grade of 1.92 g/t ore currently being processed at La Libertad. 
Based on the delivery of higher grade ore from the Jabali deposit,
the Company expects an increase in annual production at La Libertad
to approximately 131,000 to 137,000 ounces of gold in
 2013 and
150,000 ounces of gold by 2014 (subject to final mine plan). 
Otjikoto Project, Namibia (B2Gold 92% / EVI Gold (Pty) Ltd 8%) 
B2Gold recently announced robust results from the Feasibility Study
and the commencement of construction at the Otjikoto gold project in
Namibia (see news release dated January 10, 2013). 
The 2013 construction and development budget for the Otjikoto project
totals approximately $134.4 million. Total pre-preproduction capital
costs are estimated to be $244.2 million. Construction is scheduled
for completion in the fourth quarter of 2014 when mill production
will begin and the first gold production from the Otjikoto gold
project is scheduled.  
The current mine plan is based on probable mineral reserves of 29.4
million tonnes at a grade of 1.42 g/t containing 1.341 million ounces
of gold at a stripping ratio of 5.59:1 to be mined over an initial 12
year period.  
The current average annual production for the first five years is
approximately 141,000 ounces of gold per year at an average operating
cash cost of $525 per ounce and for the life of mine approximately
112,000 ounces of gold per year at an average operating cash cost of
$689 per ounce. 
A further $8.0 million has been budgeted in 2013 for exploration to
fund 24,145 metres of infill and regional exploration drilling. The
Company's geology team believes there is significant exploration
upside at the Otjik
oto gold project as indicated by the recently
announced Wolfshag Zone drill results (see news release dated
December 11, 2012). 
Gramalote Property, Colombia (B2Gold 49% / AngloGold Ashanti Limited
("AngloGold Ashanti") Limited 51% Joint Venture) 
The Gramalote property is located 80 km northeast of Medellin in
central Colombia, with AngloGold Ashanti as manager of the project
which has excellent access and infrastructure. The project has a
phase I 2013 joint venture development and exploration budget of
$26.1 million (100%). The Phase I budget covers the program through
to the end of February and is for work required to investigate
potential project improvements. Each joint venture partner will fund
their share of expenditures pro rata. Trade-off studies are being
carried out to confirm the optimum size of the project. Final results
of this work are expected before the end of January. Due to the
additional time required to evaluate the potential project scale and
economics, the prefeasibility study is now scheduled to be completed
in the first quarter of 2013 and a final feasibility study completed
in early 2014. The Company is currently in discussions with AngloGold
Ashanti to agree on a budget from March 2013 to year end. 
The Company believes the Gramalote project has the potential to
become a large scale open pit gold mine (subject to completion of a
feasibility study and financing). 
Exploration Projects 
La Libertad Property, Nicaragua (B2Gold 100%) 
Exploration continues on La Libertad property with the focus on the
Jabali infill program and drilling mine related targets. Latest
results include JB12-376 with 3.2 grams per tonne ("g/t") gold over
10.75 metres true width and JB12-391 with 4.91 g/t gold over 8.0
metres true width.  
Additional drilling within the inferred resource outline of the
Jabali Antenna vein, but outside of the 2012 pit boundary, has
returned good widths and assays at relatively shallow depths. These
results demonstrate that the Jabali vein is continuous throughout the
length of the defined indicated and inferred resource. The drilled
holes cover an area of approximately 300 metres along strike and down
to 150 metres depth. This drilling will increase the resource base
and an updated Jabali Antenna resource will be available in the next
few months. 
Highlights of the Jabali drill results include: 

                                             True                     Gold
               From        To  Interval     Width             Gold  Capped
# DDH       (metres)  (metres)  (metres)  (metres)    Tag     (g/t)   (g/t)
JB12-374      96.79    108.20     11.41      4.50    Main     3.60    3.60
JB12-376      32.00     59.44     27.44     10.75    Main     3.20    3.20
JB12-386      71.26     79.50      8.24      4.40    Main     6.57    6.57
JB12-390      31.58     40.42      8.84      3.00    Main     8.47    8.20
JB12-391      83.82    121.92     38.10      8.00    Main     4.91    4.77
JB12-402     152.92    155.47      2.55      1.03    Main   394.87    7.82
JB12-403     187.97    216.97     29.00     11.59    Main     3.02    3.02
JB12-404     208.79    230.76     21.97      7.91    Main     1.51    1.51
JB12-406     133.99    134.42      0.43                HW   568.00   36.00
Gold assays capped at 36 g/t gold.                                          

Trenching at the newly discovered Volcan-El Gallo area, near the
Mojon pit, contains up to 3.05 g/t gold over 3.6 metres in trench
VNTR12-001 and 6.92 g/t gold over 5.0 metres in trench VNTR12-009. An
initial 5 hole drill program was completed on the Volcan target in
2012 and final assays are pending. 
The Libertad exploration budget for 2013 is approximately $4.7
million for a total of approximately 11,000 metres of planned
drilling. The program includes completing the Jabali infill drilling,
Mojon and San Juan resource drilling and continued exploration on a
number of regional targets, including the Volcan - El Gallo district,
Cerro Quiroz and others.  
Limon Property, Nicaragua (B2Gold 95%) 
The focus of the exploration work on the Limon property to date has
been on the Santa Pancha Pozo 5 area, located 1 km north of the
current underground mining at Santa Pancha, with 44 diamond drill
holes completed for a total of 9,293 metres. The hanging wall ("HW")
structure appears to be the best host to mineralization where average
true widths between 2 - 15 metres were intersected. Results
demonstrate continuity of grade and width over a strike length of 1
kilometre ("km") and to depths of 230 metres. Of note are holes
LIM-12-3648 with 5.65 g/t gold over 14.92 metres true width,
LIM-12-3651 with 15.70 g/t gold over 4.92 metres true width,
LIM-12-3655 with 5.70 g/t gold over 8.30 metres true width (all gold
grades are uncapped).  
Further south the 4 - 10 metres average true width of the footwall
("FW") structure returned some equally good grades: LIM-12-3691 with
5.44 g/t gold over 6.58 metres true width, LIM-12-3692 with 5.27 g/t
gold over 10.03 metres true width and LIM-12-3736 with 17.23 g/t gold
over 4.79 metres true width. A more detailed table of intersections
is included below: 

                                                   True               Gold
                  From         To     Length      Width      Gold   Capped
Hole #         (metres)   (metres)   (metres)   (metres)      g/t      g/t
LIM-12-3648     209.55     225.25      15.70      14.92      5.65     3.39
LIM-12-3651     191.80     197.00       5.20       4.92     15.70     6.08
LIM-12-3653     155.20     162.55       7.35       6.25      6.48     5.71
LIM-12-3655     219.45     229.10       9.65       8.30      5.70     4.16
LIM-12-3657     156.00     164.40       8.40       7.22      3.36     3.36
LIM-12-3658     155.20     159.65       4.45       3.83      6.42     6.42
LIM-12-3679     123.35     126.00       2.65       2.44      6.00     6.00
LIM-12-3694      22.55      24.55       2.00       1.88     10.68     8.35
LIM-12-3728     188.25     192.30       4.05       3.56     10.32     9.05
LIM-12-3732     133.15     141.70       8.55       8.21      5.86     5.86
LIM-12-3739     228.85     234.80       5.95       5.65      3.05     3.05
LIM-12-3687     140.55     146.65       6.10       5.78      4.61     4.61
LIM-12-3689     136.45     143.05       6.60       6.25      4.41     4.41
LIM-12-3691     188.45     195.40       6.95       6.58      5.44     5.44
LIM-12-3692     220.90     231.35      10.45      10.03      5.27     5.27
LIM-12-3731     248.65     254.00       5.35       4.97      4.95     4.95
LIM-12-3736     248.00     253.05       5.05       4.79     17.23     6.68
LIM-12-3740     268.30     274.50       6.20       5.83      4.74     4.74
Note:  Gold assay's are capped at 25 g/t gold                             
       Drill holes above LIM-12-3687 are from the northern (HW) and those 
       from LIM-12-3694 down are from the southern (FW) portion of the    
       LIM-12-3740 is from the Pozo 4 area, approximately 200 metres south
       of LIM-12-3736       

The 2013 Limon exploration budget is approximately $5.74 million to
fund approximately 17,000 metres of drilling. The program includes
completing the infill drilling along the Pozo 4-5 structure to
sufficient drill spacing to allow preliminary mine planning plus
drill testing two more regional targets; San Antonio, a vein target
which lies about 5 km to the east of Santa Pancha and has returned
trench results up to 7.84 g/t gold over 6.1 metres (TRSA-12-024) and
possibly the Loma Sola area, an interesting structural and
geophysical anomaly which lies approximately 5 km to the west of the
old Talavera mine. Follow up of other interesting regional targets
across the Limon claim area is also planned. 
Based on results to date, B2Gold's exploration team believes there is
potential to increase the current mine life of the Limon Mine and
also discover higher grade open pit and underground deposits that
could increase annual gold production. 
Masbate Mine, Philippines (1) 
At the Masbate project in the Philippines, an aggressive 2013
exploration program totaling $11 million is underway with eight drill
rigs currently working. The Masbate project is a low sulphidation
epithermal vein system with a tenement which covers 16 km of very
prospective ground with well defined vein systems. The 2013
exploration program will comprise reserve/resource drilling on
numerous mine veins including Main Vein, Colorado, Panique and
Montana as well as exploration drilling designed to outline new
resources on near mine veins outside of the current reserve/resource
such as Pajo and the high grade Montana North vein. Exploration
drilling is also planned for the Bart Ag and Balete veins located 12
km southeast of the mine. In addition to drilling, geochemical
sampling and follow-up trenching will be carried out on a number of
priority target areas outside of the current resource. 
High grade gold mineralization was recently intersected on the
Montana North vein located 200 metres northwest of the current
resource. Drillhole MONRC021 intersected 9.0 metres true width
grading 24.43 g/t gold. The vein is open to the northwest and plans
are underway to stepout drill this new high grade target.  
Recent significant drilling res
ults (including data previously
released by CGA) include: 

                                                 Drill      True     Gold 
                               From        To    Width     Width     (g/t)
Hold ID       Zone          (metres)  (metres) (metres)  (metres) Uncapped
AQDD001 (i)   Aquarius        62.00     79.00    17.00     12.50      8.76
BQRC017 (i)   Blue Quartz    126.00    162.00    36.00     10.50      7.74
BQRC035       Blue Quartz     18.00    100.00    82.00     29.00      1.33
HMBNW010 (i)  Holy Moses     107.00    156.00    49.00     18.00      4.06
              Basalt NW                                                   
HMBNW014 (i)  Holy Moses     161.00    213.00    52.00     17.50      3.04
              Basalt NW                                                   
LERC022 (i)   Libra East     107.00    139.00    32.00     15.00      3.56
LERC024 (i)   Libra East     103.00    126.00    23.00     13.00      5.44
MVRC073 (i)   Main Vein       29.00     39.00    10.00      5.00     24.00
MV022         Main Vein N     98.00    113.00    15.00      9.00      7.13
MV026 (i)     Main Vein N    176.00    254.00    78.00     40.00      1.44
PQRC041 (i)   Panique         10.00     20.00    10.00      5.80     14.53
PQRC108       Panique        187.00    209.00    22.00      8.80     12.13
PQRC127       Panique         83.00    120.00    37.00     17.00     22.32
ODRC038 (i)   Old Lady        85.00    120.00    35.00     26.40      2.57
MONRC016 (i)  Montana         81.00    104.00    23.00     15.00      4.15
MONRC021 (i)  Montana         85.00    101.00    16.00      9.00     24.43
(i) Previously released by CGA                                              
(1) Subject to the completion of the B2Gold / CGA meger, scheduled to be    
    completed on January 31, 2013                                     

Primavera Project, Nicaragua (B2Gold / Calibre Mining Corp. Joint
A phase II drilling program was completed in 2012 at the Primavera
Gold and Copper Porphyry joint venture project in the productive
Bonanza-Siuna-Rosita mining triangle in the North of Nicaragua. The
phase II program totaled 9,475 metres of drilling for a total overall
drilling program of 13,414 metres for 32 drill holes. The bulk of the
phase II program was focused on the nearby soil geochemical anomalies
at Copper Hill and a prominent structural target to the south of the
main Primavera zone. In addition, two drill holes tested a prominent
geophysical anomaly at Santa Juana, approximately 1.4 km south east
of Primavera. Several drill holes south and west of the main
Primavera zone show anomalous gold-copper values associated with
porphyry style mineralization at depths exceeding 500 metres. Most
importantly the drilling indicates that the porphyry system continues
to the north beneath alluvial cover. A comprehensive geophysical
program was completed during 2012, with both air magnetic and
radiometric surveys flown over the claim area. 
Highlights of the phase II program include drill hole PR-12-016 which
confirmed shallow continuity of porphyry style mineralization on the
west side of the main Primavera Zone with 201.35 metres of 0.77 g/t
gold and 0.36% copper, including 57.85 metres of 1.08 gold and 0.49%
copper. PR-12-024 and several other drill holes crossed two major
post mineral faults to the west and north of the main Primavera Zone
and intersected anomalous zones also associated with porphyry style
mineralization. Mineralization extends to the two faults and further
work, needs to be carried out to determine the degree of fault
offset. Results from drill hole PR-12-024 indicate that the system
continues to the north beneath alluvial cover. Hole 24 yielded
several deep intervals including 17 metres of 0.39 g/t gold from 595
to 612 metres, 1.1 metres at 18.28 g/t gold, and 1.5 metres 11.95 g/t
gold. These intervals were all associated with vein and stockwork
mineralization in intrusion breccia and diorite although the high
grades for gold are unusual. More drilling will be required in this
area under the alluvium where the geophysical data indicate the
presence of a large magnetic low. 

                        From          To    Interval       Gold     Copper
# DDH                (metres)    (metres)    (metres)      (g/t)        (%)
PR-12-016               0.00      201.35      201.35       0.77       0.36
  Incl.                27.75       85.60       57.85       1.08       0.49
PR-12-023               0.00      455.80      455.80       0.20       0.12
PR-12-024             655.60      656.70        1.10      18.28       0.03
                      673.00      674.50        1.50      11.95       0.24

Drilling to the south at Copper Hill has intersected zones of skarn
and hornfels similar to the style of mineralization and alteration at
the Santa Rita deposit in nearby Rosita which produced over 3 million
pounds of copper, 177,737 ounces of gold, and 2,629,720 ounces of
silver. Additional drilling may be needed to test for possible skarn
deposits which are commonly associated with porphyry systems. The
skarn mineralization lies about 1.5 km to the southwest. Additional
soil sampling is underway in this area. 
The 2013 exploration program for Primervera has a Phase I budget of
$2 million. This will fund 1,500 metres of drilling, geophysical
interpretation as well as detailed mapping and geological
interpretation. The Company is commencing a surface mapping and
trenching program to help locate the potential continuation of the
main zone beyond the faults. 
Cebollati Property, Uruguay (B2Gold earning an 80% interest) 
Exploration activities at the Cebollati property in Uruguay, during
2012, included detailed trenching work on the main property, the
drilling of 2,400 metres in 22 holes, and regional exploration over
B2Gold claims, including completing a comprehensive airborne magnetic
and radiometric geophysical survey.  
Detailed trenching contained up to 5.95 g/t gold over 38.90 metres
and drilling intersected up to 5.81 g/t over 2.55 metres. The work
done in 2012 indicated the mineralization occurs in a series of
shallowly plunging pipe shaped bodies. Exploration in 2013 will focus
on detailed mapping and re-logging of existing holes to determine the
down plunge direction of mineralization. Further drilling will depend
on the results of the detailed work. 
Total Exploration 
B2Gold's total 2013 Phase I exploration budget is approximately $35.9
million that will fund approximately 97,000 metres of drilling.
Exploration results will be released for these programs throughout
the year. B2Gold's experienced exploration teams continue to pursue
high quality exploration projects through acquisitions and joint
Quality Assurance / Quality Control 
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 usin
g a secondary laboratory for regular check assaying. 
La Libertad and El Limon Project - Samples are prepared at the mine
sites and placed in sealed bags and shipped directly to ALS Minerals
in Vancouver, Canada for gold and silver fire assay and ICP
multi-element analysis. Umpire analyses are done at Inspectorate Labs
in Vancouver. 
Primavera, Trebol and San Jose Projects - Samples are placed in
sealed bags and shipped directly to Inspectorate Labs in Managua,
Nicaragua for sample preparation. Primary analyses are done at
Inspectorate Vancouver. Umpire analyses are done at ALS Minerals in
Cebollati - Sample preparation and fire assaying is completed by ACME
Laboratories in Santiago, Chile and ICP analysis at ACME Laboratories
in Vancouver, Canada. Check assays are conducted at ALS Minerals in
Vancouver, Canada. 
Masbate - Mr Mark Turner, BE Min(Hons), M.Aus.I.M.M.CP Man, CGA's
Chief Operating Officer of CGA, is acting as the Qualified Person in
compliance with NI 43-101 and JORC reporting requirements with
respect to this announcement. He has prepared and or supervised the
preparation of the scientific or technical information in this
announcement and confirms compliance with NI43-101 and JORC
requirements. (Refer to CGA news release dated January 14, 2013 for
further details.)  
All results stated in this announcement have passed B2Gold's quality
assurance and quality control ("QA/QC") protocols unless otherwise
Tom Garagan, Senior Vice President of Exploration 
The securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration
Some of the statements contained in this release are forward-looking
statements, such as estimates and statements that describe the
Company's future plans, objectives or goals, including words to the
effect that the Company or management expects a stated condition or
result to occur. Since forward-looking statements address future
events and conditions, by their very nature, they involve inherent
risks and uncertainties. Actual results in each case could differ
materially from those currently anticipated in such statements. 
The Toronto Stock Exchange neither approves nor disapproves the
information contained in this News Release. 
B2Gold Corp.
Ian MacLean
Vice President, Investor Relations
B2Gold Corp.
Kerry Suffolk
Manager, Investor Relations
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