B2Gold Corp.: Kupol East and West Moroshka Basin Drill Results and New Vein Discovery

B2Gold Corp. announce exploration drilling results and a new vein discovery from the 2009 spring diamond drill program in the Moroshka Basin on the Kupol West license, in the Chukotka Region in northeastern Russia

B2Gold completed a total of 1,877 metres (“m”) of drilling in eight diamond drill holes in the Moroshka Basin. Several gold bearing quartz veins were intersected with the best intersections from hole KW09-030, consisting of 16.96 grams per tonne (“g/t”) gold (“Au”) and 258.09 g/t silver (“Ag”) over 1.5 m, followed by a second vein containing 14.92 g/t Au and 115.68 g/t Ag over 1.1 m.

These intersections represent a new vein discovery and are the first significant gold bearing intersections on the Kupol East and West licenses. These intersections are located approximately four kilometres (“km”) east of the Kupol mine, owned 75% by Kinross Gold Corporation (“Kinross”).

Two holes that were drilled at an angle along an east-west oriented line encountered a broad zone of sheeted quartz veinlets and alteration approximately 230 m wide. This vein is hosted in basaltic andesite flows and agglomerates, with minor lapilli and ash tuffs. Two larger gold bearing quartz veins, 1.1 to 1.5 m wide and 3 m apart, were intersected starting at a downhole depth of 210.1 m in the eastern most hole KW09-030.

The veins are situated about 100 m east of a steep west dipping zone of moderate to strong adularia-sericite alteration, which likely represents the more altered hanging wall of this steep westerly dipping vein system. This adularia alteration corresponds to a prominent linear magnetic low that continues north of the vein intersections for 800 m and south for 400 m. A coincident resistivity high continues north for up to 900 m and south for 400 m. A coincident arsenic gold soil geochemical anomaly continues south for 400 m and north for 400 m where it transitions into a strong mercury-antimony anomaly, which continues for up to 1.4 km north of the vein intersections.

The veins encountered in hole KW09-030 comprise to banded quartz with fine grained pyrite and sulphosalts. The veins also contain minor marcasite and traces of sphalerite.

The remaining drill holes KW09-023 to KW09-029 contained no significant values and were not within this newly discovered vein system.

The Moroshka Basin is an underexplored drift and tundra covered area with strong gold and epithermal pathfinder elements (mercury, antimony, arsenic, silver) stream sediment and soil geochemical anomalies and management of the Company believes the potential to expand upon the new discovery is very good and will be following up these drill intersections in the fall of 2009 when the ground is frozen again.

B2Gold has the right to acquire a 37.5% interest from Kinross in the Kupol East and West licenses in Chukotka, Russia and is the operator of exploration. These licenses cover an area of 408.1 square km surrounding and adjacent to the high-grade Kupol gold and silver mine that was being developed by Bema Gold Corporation at the time of the Kinross takeover. The Kupol mine commenced production in May of 2008 and is operated by Kinross.