VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 28, 2008) - B2Gold Corp. (TSX VENTURE:BTO) ("B2Gold" or the "Company"), is pleased to release the results from the first six holes of the initial 5,000 metre (m) diamond drill program being carried out on the Quebradona property in Colombia, a joint venture with AngloGold Ashanti Ltd ("AngloGold Ashanti"). These drill results confirm the good grade results from surface sampling and trenching on the Aurora zone.
The initial 5,000 m program is focused on the Aurora and Isabella zone systems, two of five gold bearing porphyry systems outlined by surface sampling on the six by four kilometre (km) Quebradona property. The Aurora system consists of two strong gold occurrences contained within a suite of intermediate intrusive and volcanic rocks. Aurora covers an 800 by 700 m area and is comprised of the 700 by 350 m La Mama zone, and the 400 by 250 m La Isla zone separated by 200 m of low grade, late mineral porphyry.
The initial six holes, totaling 1,662 m tested a 400 by 300 m area of the La Mama zone. The ore grade mineralization encountered in all six holes is hosted by strong potassic-altered intermediate volcanic rocks, diorite, and microdiorite with abundant magnetite-quartz veins and stock working.
Highlights of the results from the first six drill holes are as follows:
Aurora - Drill Holes 1 to 6 Assay Results
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Hole Metres Gold(i) Silver Copper
Location # From To (m) (ppm) (ppm) (%)
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La Mama 1 4.05 165.92 161.87 0.97 2.5 .154
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La Mama 2(ii) 0.00 52.70 52.70 1.36 2.1 .144
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La Mama 3 0.00 86.15 86.15 0.99 2.1 .134
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La Mama incl. 0.00 32.90 32.90 1.67 2.6 .167
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La Mama 4 0.70 87.00 86.30 2.08 2.6 .166
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La Mama 5 0.00 65.80 65.80 0.94 2.5 .162
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La Mama 6 6.10 235.00 228.90 0.80 2.0 .154
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La Mama incl. 29.00 154.00 125.00 1.07 2.0 .153
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(i) 1 ppm is equivalent to 1 gram per tonne.
(ii) Lost hole at 52.70 m in mineralization.
A drill hole location map is available on the B2Gold website
(www.b2gold.com).
An additional eight holes have now been drilled on the Aurora zone (five on the La Mama zone and three on the La Isla zone) totaling 2,368 m for a total of 14 holes and 4,030 m drilled. Several of these additional drill holes have encountered similar stockwork mineralization encountered in the first six holes. Assay results from these additional holes are pending, and will be released as available.
Both the La Mama and the La Isla zones remain open to the south, north, and to depth. An aggressive stage two drill program is planned to further drill test the Aurora zones and to begin exploration drilling on the other three porphyry gold targets on the Quebradona property.
The drilling program at the Quebradona property is reviewed and the results approved by Tom Garagan, B2Gold's Qualified Person under NI 43-101. The Quebradona drill program utilizes an extensive QAQC (quality assurance and quality control) protocol for assaying and core sample handling that consists of the systematic insertion of blanks, standards and duplicates as well as using a secondary laboratory for regular check assaying. Core samples are cut with a diamond saw with one-half of the core placed in sealed bags and shipped directly to ALS Chemex Labs in Bogota, Colombia for sample preparation with the pulps subsequently sent to ALS Chemex Labs in Lima, Peru for gold fire assay and ICP analyses.
Further Colombian Exploration
B2Gold is also currently drilling at the Gramalote property utilizing four drill rigs for a total of 25,000 m and plans to commence a 3,000 m program at the Mocoa copper molybdenum project this summer. B2Gold has a Colombian exploration budget of $21.8 million.
ON BEHALF OF B2GOLD CORP.
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 requirements.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
B2Gold Corp.
Ian MacLean
Vice President, Investor Relations
(604) 681-8371
B2Gold Corp.
Kerry Suffolk
Manager, Investor Relations
(604) 681-8371
Website: www.b2gold.com
