B2Gold Corp. has announced an update on the Menankoto exploration permit, which forms a part of the Anaconda area and is located 20 km north of the Fekola Mine license area.

The company’s 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.

The company 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.

Since the company commenced its investment in Mali, B2Gold has enjoyed a positive and mutually beneficial relationship with the Government of Mali, including the ongoing grant and renewal of several exploration and other permits in the country.

The current life of mine plan for the Fekola Mine, which is projected to produce 530,000 to 560,000 oz of gold in 2021, does not include the Anaconda area Mineral Resource.