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MacDonald Mines Drills 5.73 g/t Gold over 3.67m, including 17.30 g/t over 1m at Scadding - Continues Drilling Beyond Scadding at the Jovan Property

MacDonald Mines Exploration Ltd. (TSX-V: BMK) ("MacDonald Mines", "MacDonald" or the "Company") reports assay results from 11 holes of its fall 2020 drilling program on the Scadding Deposit ("Scadding") at its SPJ Project, located 40 km east of Sudbury, Ontario. The Company also reports that it has resumed drilling at the Jovan Property ("Jovan") approximately 9 km east of Scadding. Three holes have been completed to date with assays pending while drilling continues.

Drilling highlights from Scadding:

  • Hole SM-20-070 intersected, near-surface, 2.04 g/t gold over 12.03 metres, including 6.05 g/t gold over 2.87 metres.
  • Hole SM-20-072 intersected 5.73 g/t gold over 3.67 metres, including 17.30 g/t gold over 1.00 metre.
  • Hole SM-20-077 intersected 7.41 g/t gold over 1.87 metres, including 17.26 g/t gold over 0.75 metres, indicating that higher-grade mineralization persists at Scadding very close to surface.

Figure 1. Plan map of reported holes at Scadding

https://www.globenewswire.com/NewsRoom/AttachmentNg/f0ffe08d-a17a-493e-8fbf-b0813bb1bd2a

Figure 2. Cross-section of mineralization at Scadding

https://www.globenewswire.com/NewsRoom/AttachmentNg/81e8aff7-f8d2-498b-b654-8314b712651d

Quentin Yarie, President and CEO, comments, " Our latest results continue to expand the gold zone discovered between the historical Scadding underground mine workings and the South Pit. Results are also adding to the near-surface, high-grade gold discovery we made late last year. We are also excited by preliminary results from our current drilling program at Jovan, about 9 km east of the Scadding area. At Jovan, we are testing several gold and gold/polymetallic targets identified in 2018 and corroborated by our latest IP data."

Assay results from another six holes drilled in 2020 at Scadding are forthcoming and will be released when they are received.

Table 1. Highlights from reported assays

Hole From
(m)
To
(m)
Length*
(m)
Gold
(g/t)
Visible
Gold
Observed
Co
(wt. %)
SM-20-060 No significant results
SM-20-061
19.20 20.60 1.40 1.03
46.00 47.13 1.13 1.60
SM-20-067 171.76 177.90 6.14 1.17
SM-20-068
18.57 20.64 2.07 1.59
32.84 35.12 2.28 0.60
78.83 81.41 2.58 1.36
SM-20-069 67.9 69.17 1.27 3.50
SM-20-070
70.18 77.51 7.33 1.74 0.017
including
73.39 77.51 4.12 2.86
93.53 105.56 12.03 2.04
including
97.71 100.58 2.87 6.05 yes
SM-20-071 No significant results
SM-20-072
119.46 123.13 3.67 5.73
including
119.46 120.46 1.00 17.30
SM-20-073 No significant results
SM-20-074 No significant results
SM-20-077
36.32 38.19 1.87 7.41 yes
including
37.44 38.19 0.75 17.26 yes

* Assay results are presented over core length. They are estimated to represent 55-85% of true width.

Table 2. Coordinates of reported drill holes

Hole ID Easting Northing Elevation Azimuth Dip Depth
(m)
SM-20-060 529267 5166283 309.1 220 -60 79
SM-20-061 529216 5166332 310.0 225 -55 109
SM-20-067 529271 5166455 310.4 264 -52 211
SM-20-068 529217 5166435 313.8 271 -59 90
SM-20-069 529217 5166435 313.8 233 -60 103
SM-20-070 529217 5166435 313.8 250 -76 157
SM-20-071 529235 5166428 311.2 241 -76 155
SM-20-072 529235 5166428 311.2 291 -75 190
SM-20-073 529276 5166461 310.6 258 -69 229
SM-20-074 529276 5166461 310.6 303 -47 280
SM-20-077 529217 5166435 313.8 277 -46 148

On-Going Winter 2021 Exploration Program
Drilling on the SPJ Project resumed on January 11, 2021, with three of eight holes completed to date on the Jovan property (Figure 3). MacDonald is testing promising exploration targets that include gold, gold-copper, gold-cobalt-copper, and cobalt-copper-nickel prospects, showings, and occurrences.

Quentin Yarie recently recorded a video available on MacDonald's YouTube channel ( click here ) that provides an overview of results from the Company's recent IP survey and outlines how this information guides the selection of drilling targets at Jovan. The geophysical data is mapping broad high-sulphide zones similar to the zones that carry high-grade gold at Scadding. These prospective high-metal factor zones are the focus of the current and on-going drilling program.

Figure 3. Location of current drilling at Jovan

https://www.globenewswire.com/NewsRoom/AttachmentNg/ccacaa9b-8c82-417e-9853-2ad610bcb2c2

Detailed Description of reported holes

Hole SM-20-060 tested a gold and tungsten showing identified, at surface, by the Company's surface mapping program in 2019. Drilling intersected a zone of magnetite alteration at depth but without significant mineralization.

Hole SM-20-061 tested the southeastern extension of the gold zones intersected in SM-20-062 and SM-20-063 in the South Pit area. Hole SM-20-061 successfully intersected gold mineralization 40 metres south-east of Hole 63 ( see November 10, 2020 News Release ). Additional drilling is required to test for zones of higher-grade gold mineralization in that extension.

Hole SM-20-067 tested the southern extension of the Scadding Deposit. The hole successfully intersected a zone of chlorite alteration in the projected extension of the deposit that did not contain significant gold. Gold mineralization was intersected further down the hole in what could be the deeper extension of the gold zone discovered in SM-20-059 ( see November 19, 2020 News Release ). The deeper zone of mineralization in SM-20-067 is truncated by a diabase dyke.

Hole SM-20-068 tested the lateral and southern extension of the mineralized structure that hosts the historical Scadding underground mine. Hole SM-20-068 successfully intersected two zones of significant chlorite alteration containing low-grade gold mineralization. This hole allowed MacDonald to determine the direction of intense chlorite alteration in the structure and led to discovering zones of higher-grade mineralization in SM-20-070, -072, and -077.

Hole SM-20-069 tested the historical Scadding underground mine structure further south of the intersections in SM-20-068. The hole confirmed the continuity of the structure and showed greater proximity to potentially higher-grade gold mineralization.

Hole SM-20-070 tested the southern and deeper extensions of the structures controlling chlorite alteration and gold mineralization identified in holes SM-20-068 and SM-20-069. It successfully intersected two large zones of chlorite alteration with significant gold mineralization. It showed that high-grade gold mineralization zones likely exist between the historical underground mine and the South Pit of the Scadding Deposit.

Hole SM-20-071 continued to test the deeper and southern extension of the structures controlling chlorite alteration and gold mineralization identified in holes SM-20-069 and SM-20-070. It did not intersect significant zones of chlorite alteration and mineralization. It is possible that these were truncated by a diabase dyke.

Hole SM-20-072 tested the deeper extension of the structures controlling chlorite alteration and gold mineralization identified in holes SM-20-069 and SM-20-070. Hole SM-20-072 successfully intersected the deeper extension of the chlorite alteration zone hosting high-grade gold mineralization discovered in SM-020-070.

Hole SM-20-073 tested the deeper extension of the structures controlling chlorite alteration and gold mineralization identified in hole SM-20-072. Hole SM-20-073 successfully intersected a weak chlorite alteration zone but did not contain significant gold mineralization. Additional drilling laterally from the intersection in SM-20-073 will test if higher-grade gold mineralization is extending at depth.

Hole SM-20-074 tested the northern extension of the structures that control gold mineralization in the historical Scadding underground mine and the down-dip extension of the gold intersections in hole SM-19-012 ( see January 23, 2020 News Release ). It failed to intersect the deeper and northern extension of the targeted structures and did not contain significant mineralization.

Hole SM-20-077 tested the shallower extension of the structures controlling gold mineralization in the southern extension of the historical Scadding underground mine identified in hole SM-20-068. Hole SM-20-077 intersected a zone of intense chlorite alteration in the projected extension of the structures controlling mineralization that contains high-grade gold.

On-site Quality Assurance/Quality Control ("QA/QC") Measures
Drill core samples were transported in security sealed bags for analyses to Actlabs in Ancaster, Ontario. Individual samples are labelled, placed in plastic sample bags, and sealed. Groups of samples are then placed into durable rice bags and then shipped. The samples transported to Actlabs were dropped in rice bags with security seals by Manitoulin Transport. The remaining coarse reject portions of the samples remain in storage if further work or verification is needed.

MacDonald has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, MacDonald inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates. A 1 kg metallic screen analyses all samples over 10 g/t gold or the samples with abundant visible gold. Check assays are routinely performed on samples with visible gold to ascertain the mineralization zone's gold content.

SPJ Project Highlights

  • 100% ownership
  • 18,340 hectares in excellent mining jurisdiction and close to infrastructure
  • Hosts the high-grade past-producing Scadding Gold Mine
  • Evidence of polymetallic mineralization at the Scadding Deposit indicative of IOCG potential
  • Significant gold, cobalt, copper, silver, nickel, and rare earth showings outside of the Scadding Deposit footprint

Historically, the Scadding Mine produced 29,000 oz of gold from 127,000 tonnes of mineralized material grading 7.2 g/t ( Gates, 1991 ). MacDonald's reinterpretation of the Scadding Deposit and larger SPJ Project's geological model indicates that it could host a gold-rich Iron-Oxide-Copper-Gold deposit. Previous operators' exploration campaigns (2009-2011) likely missed significant gold-bearing structures.

Qualified Person
Quentin Yarie, P Geo., CEO and President of MacDonald Mines and the Qualified Person defined by National Instrument 43-101, has reviewed and approved the technical information in this news release.

COVID-19 Precautions
MacDonald Mines has developed and implemented precautions and procedures that are compliant with Ontario's health guidelines. Strict protocols are in place to ensure all staff's safety, thereby reducing the potential for community contact and spreading of the virus.

About MacDonald Mines Exploration Ltd.
MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario, focused on gold exploration in Canada. The Company is currently developing its large SPJ Project in Northern Ontario.

The Company's common shares trade on the TSX Venture Exchange under the symbol "BMK".

To learn more about MacDonald Mines, please visit www.macdonaldmines.com.

For more information, please contact:

Quentin Yarie, President & CEO, (416) 364-4986, qyarie@macdonaldmines.com

Or Mia Boiridy, Investor Relations, (416) 364-4986, mboiridy@macdonaldmines.com

Gates, B. I., 1991, Sudbury Mineral Occurrence Study; Ontario Geological Survey, Open File Report 5771, 235 p.

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which   only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, other than as required by law.


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B2Gold Releases its Ninth Annual Responsible Mining Report and its Fourth Annual Climate Strategy Report

B2Gold Releases its Ninth Annual Responsible Mining Report and its Fourth Annual Climate Strategy Report

B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) ("B2Gold" or the "Company") is pleased to announce that it has published its ninth annual Responsible Mining Report entitled "Raising the Bar" (the "Report"), which details B2Gold's global economic contributions and its environmental, social, and governance ("ESG") management practices, together with the Company's performance against key indicators in 2024. Highlights of the Report are presented below, and full details are outlined in the Report, which is available to view or download at the link provided below. All dollar figures are in United States dollars unless otherwise indicated.

B2Gold is also pleased to announce that it has published its 2024 Climate Strategy Update. The Climate Strategy Update presents stakeholders with information on how B2Gold manages its climate-related risks and impacts and is the Company's fourth annual report in line with the recommendations of the Task Force on Climate-related Financial Disclosures.

To view or download a copy of the Responsible Mining Report and Climate Strategy Update, and all other documents referred to in this press release, please visit www.b2gold.com/sustainability/esg-reporting-portal

In announcing the release of the Report and the Climate Strategy Update, Clive Johnson, President & CEO of B2Gold, states "As I reflect on the achievements and challenges of the past year, I am particularly proud of the dedication of our people, who continue to drive B2Gold forward. We have successfully navigated dynamic capital markets, regulatory changes, and evolving ESG expectations while maintaining our high standards of responsible mining. Together, we strive to continue to create long-term value for all of our stakeholders, while upholding the level of operational excellence, environmental stewardship, and social responsibility that define B2Gold."

Highlights from the 2024 "Raising the Bar" Responsible Mining Report

Economic Contribution

As a responsible gold miner, B2Gold aims to create and distribute economic value among its stakeholders. B2Gold's economic performance is measured by the economic value that it generates for others, including payments to governments through taxes and royalties, local hiring and procurement and investment in communities. In 2024, B2Gold:

  • Achieved total consolidated gold production of 804,778 ounces (including 19,644 ounces of attributable production from Calibre Mining Corp.);

  • Generated $1.9 billion in annual revenue;

  • Paid $283 million in employee wages and benefits;

  • Invested $12.8 million in its local communities 1 ; and

  • Paid $564 million to governments (through taxes and royalties).

B2Gold is committed to maximizing local and national economic benefits from its contracting and purchasing. The Company is conscious of the high priority that host communities and governments place on local procurement. In sourcing the goods and services necessary to run its operations, B2Gold gives preference to local businesses where possible, provided they meet minimum safety, quality, ethical, and cost requirements. In 2024, over $600 million of goods and services were procured from local and host-country businesses. Several 2024 success stories are outlined in the Report.

People

As a reputable corporate citizen, B2Gold generates national employment and opportunities for people to develop their careers, trains employees to acquire new skills, and opens doors to women, under-represented groups and previously disadvantaged people. The Company fosters positive and productive engagement with employees, provides safe workplaces, and believes that investing in people attracts and retains talented individuals and assists in their abilities to provide for themselves, their families and their futures.

At the end of 2024, B2Gold employed 6,478 2 people across all operations. The Company continues to maintain high local employment rates by targeting recruitment efforts at regional and national levels. Across all operations, 97% of the total workforce, and 58% of Senior Management 3 were comprised of national 4 employees.

B2Gold values a diverse workforce. In recent years, the Company has made significant strides in advancing its Equity, Diversity and Inclusion initiatives. In 2021, the adoption of a Diversity Policy by the Company's Board established a target of 30% female representation on the Board and in management-level positions, underscoring its commitment to promoting and achieving gender diversity at all levels of the organization. B2Gold is pleased to report that as of the end of 2024, 40% of Company directors identify as gender diverse.

Health and Safety

As a result of B2Gold's focus on injury prevention, the Company is once again pleased to report that for the ninth consecutive year, it has maintained a zero-fatality workplace. Additionally, B2Gold's injury rates remain amongst the lowest in the mining industry, with a Lost Time Injury Frequency Rate of 0.05 5 in 2024. These achievements underscore the Company's position as a leader in safety performance within the industry.

Communities

B2Gold maintains its social licence to operate by building trust-based relationships, actively engaging with stakeholders, and implementing community investment activities based on local ownership and development priorities. Highlights of the 2024 community investment programs include:

  • At the Fekola Complex, the 70-hectare Goungoubato Agricultural Project is supporting over 250 households affected by resettlement, directly addressing food insecurity whilst fostering small- and medium-sized enterprise growth through newly formed farmers' associations. Additionally, B2Gold continued its partnership with Global Affairs Canada and its support of the FEMA Project, which aims to improve conditions for women and children living in artisanal mining communities within the Fekola Mine's area of influence. The FEMA Project was initiated in March 2022 and will continue until 2027.

  • At the Masbate Gold Project, investment continued to focus on education, access to health services and facilities, and programs that enhance local economic opportunities, including skills training and small enterprise support. The Training for Employment Program reached its fifth year of partnership in 2024 and remains a powerful driver of economic mobility by equipping individuals with the skills and training needed to build sustainable livelihoods. Over the lifetime of the project, 1,521 individuals have received training and over 600 participants have secured employment.

  • At the Otjikoto Mine, B2Gold Namibia achieved significant milestones that reflect the Company's commitment to meeting critical needs, supporting long-term development, and fostering resilience beyond the life of the mine. Notable achievements include the completion of the Ombili Clinic, which will improve access to healthcare in the region, and the Otavi Water Project, which enhances water security through the construction of a tower and water distribution system.

  • At the Back River Gold District, B2Gold Nunavut continues to strengthen its close relationships with the Kitikmeot Inuit Association and communities across Canada's Arctic. The Company is investing in collaborative projects throughout the Kitikmeot region that promote community wellness, support youth through sports, recreation, and education, and advance initiatives focused on women and Elders. A standout initiative is the Inuit Workplace Experience Program, delivered in partnership with the Redfish Arts Society, which provides Kitikmeot Inuit youth with hands-on training in welding and fabrication—equipping them with valuable skills for employment in Nunavut's growing mineral development sector. B2Gold Nunavut remains committed to working alongside the Kitikmeot Inuit Association to advance further initiatives that ensure the benefits of the Back River Gold District reach the communities of Cambridge Bay, Kugluktuk, Gjoa Haven, Taloyoak, and Kugaaruk.

Environment

B2Gold's remains firmly committed to reducing greenhouse gas ("GHG") emissions, with a target to reduce Scope 1 and 2 emissions by 30% by 2030 against a 2021 baseline. The completion of the Fekola solar plant expansion in early 2025 underscores this commitment by advancing the decarbonization of operations through innovative and sustainable energy solutions. The expanded Fekola facility is expected to supply approximately 30% of the site's electricity demand and reduce annual emissions by an estimated 63,000 tonnes of carbon dioxide equivalent (CO 2 e).

Approach to Reporting

B2Gold is committed to the transparency of its sustainability risks, management and performance. The Report is aligned with the Global Reporting Initiative Sustainability Reporting Standards and the Sustainability Accounting Standards Board Mining and Metals Sustainability Accounting Standard . The Company firmly believes that the mining industry has an opportunity to contribute positively to the United Nations Sustainable Development Goals and it has reported its contribution in this regard since 2018.

Highlights from the 2024 Climate Strategy Update

2024 Highlights

  • B2Gold is committed to a GHG emissions reduction target of a 30% reduction in Scope 1 and 2 emissions by 2030 against a 2021 baseline.

  • The Company continued evaluation of financial impacts of key climate risks identified at sites during previous climate scenario analysis workshops.

  • The total Scope 1 and 2 GHG emissions (for the Fekola, Masbate and Otjikoto operations) remained relatively stable in 2024, with a slight decrease to an estimated 699 thousand tonnes CO 2 e compared to 701 thousand tonnes in 2023. The Company's consolidated GHG emissions intensity was 0.89 tonnes CO 2 e per gold ounce produced in 2024 (compared with 0.71 in 2023), a modest increase driven in part by a reduction in total gold production.

  • The proportion of electricity consumed at B2Gold operations from renewable sources was 21.7% in 2024. At Otjikoto, the proportion of electricity consumed from renewable sources was over 70%.

Looking Forward – 2025 and Beyond

In 2025, B2Gold looks forward to strengthening its global partnerships and deepening its commitment to the diverse communities in which it operates. The Company will continue investing in initiatives that expand vocational training and promote job creation, improve access to education, and enhance healthcare services. B2Gold believes that by building local capacity and fostering strong alignment among governments, communities, stakeholders, and the Company, it can help create resilient, healthy, and prosperous communities throughout the mining lifecycle.

As part of its climate strategy, B2Gold will continue to advance renewable energy initiatives across its operations, supporting its target to reduce Scope 1 and 2 GHG emissions by 30% by 2030 against a 2021 baseline. At the Masbate Gold Project, an 8.2-megawatt ("MW") solar plant is scheduled for installation in 2025, which will further reduce emissions and heavy fuel oil ("HFO") consumption. In Nunavut, following regulatory approvals received in 2024, B2Gold is finalizing project plans and environmental commitments for the proposed Back River Energy Centre—a renewable energy facility that could include up to thirteen wind turbines, solar panels, and battery storage, with the potential to deliver more than 55 MW of clean energy. This facility is expected to significantly reduce reliance on HFO, as well as the number of fuel barges and fuel truck trips along the winter ice road.

Beyond increasing the share of renewable energy in its operations, B2Gold is actively assessing a range of additional carbon reduction opportunities, including energy efficiency improvements, the use of alternative fuels, and optimization of materials movement. The Company remains committed to innovation by working closely with industry-leading partners and staying prepared to adopt emerging technologies that align with its decarbonization goals.

About B2Gold

B2Gold is a responsible international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland.

ON BEHALF OF B2Gold Corp.

"Clive T. Johnson"
President and Chief Executive Officer

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