The acquisition of Oklo is expected to provide B2Gold with an additional landholding of 1,405 square kilometers (km2) covering highly prospective greenstone belts in Mali, including Oklo’s flagship Dandoko project (550 km2). The Oklo properties are located on a subparallel, north-trending structure east of the prolific Senegal-Mali Shear Zone, approximately 25 km from the Fekola mine and approximately 25 km from the Anaconda area, where B2Gold is currently conducting a Mali drill program of approximately 225,000 m of drilling.

In March 2021, Oklo delivered an initial JORC 2012 compliant measured and indicated mineral resource estimate of 8.7 million metric tons (mt) at 1.88 grams per mt (g/mt) for 528,000 ounces (oz) of gold and an inferred mineral resource estimate of 2.63 million mt at 1.67 g/mt for 141,000 oz of gold. The mineral resources are distributed across the Seko, Koko, Disse and Diabarou deposits, which all remain open and are expected to grow with ongoing exploration drilling both along strike and at depth. Significantly, B2Gold believes that approximately 65% of the resource is contained in soft oxidized material, which would be amenable to processing at B2Gold’s Fekola mill. The Board of Directors of B2Gold has unanimously approved the transaction.