About Back River

The Back River Gold District consists of eleven mineral claims blocks along an 80 km belt. The most advanced project in the district, the Goose Mine, has completed its construction phase, achieved first gold production in June 2025, and declared commercial production in October 2025.

The Back River Gold District has significant gold resource endowment and is being planned as a long life mining complex by B2Gold’s management team which possesses strong northern construction expertise and the experience needed to successfully ramp-up the Goose Mine and further develop the District.

The Goose Mine is expected to produce between 170,000 and 230,000 ounces of gold in 2026. Gold production is expected to exceed 300,000 ounces per year in 2027, continuing over the medium-term.

Map showing the locations of various mining projects in the Kitikmeot Region of Nunavut, including the George, Goose, and Bath projects. See Location Map

History and Timeline

As part of the acquisition of Sabina Gold & Silver in April 2023, B2Gold acquired Sabina’s 100% owned Back River Gold District located in Nunavut, Canada.

Timeline showing key events for Back River from 2009 to 2023, including Sabina's 100% acquisition, permitting, feasibility study, and B2Gold Sabina acquisition. Timeline showing key events for Back River from 2009 to 2023, including Sabina's 100% acquisition, permitting, feasibility study, and B2Gold Sabina acquisition.
Map of Canada highlighting the Nunavut region in the northern part of the country.

Nunavut: Canada's Newest Mining Friendly Territory

On April 1, 1999, the Territory of Nunavut was formed. The groundwork was laid by the signing of the Nunavut Agreement (the “Agreement”) in 1993 between Inuit of the Nunavut Settlement Area and Her Majesty the Queen in right of Canada. As a result of the Agreement, Inuit are the largest landowners in the Territory and a process of environmental assessment and permitting was established. Mineral resource development remains an important economic driver in the Territory. The development of mining projects in the West Kitikmeot region has far reaching impacts, not only for our shareholders but also for the government and residents of the Territory. The Territory has a well established and sophisticated environmental assessment process allowing all parties to participate an open and transparent review processes.

The first project in the Back River Gold District, the Goose Mine, has progressed through this process and is now in production. The development of the Goose Mine opens the Back River Gold District for additional known deposits and opportunities yet to be discovered.

Aerial view of Back River Mine camp site in Nunavut, showing industrial equipment and remote terrain.

INUIT IMPACT BENEFIT AGREEMENT

  • Signed the Framework Agreement with the Kitikmeot Inuit Association (KIA) in April 2018
  • 20-year term
  • 1% Net Smelter Royalty
  • Sabina shares equivalent to 2.5 million B2Gold shares — alignment as a shareholder
  • $4 million cash payment towards Regional Wealth Creation — An initiative for creating long-term benefits to the region and jobs outside of the mining industry

B2Gold recognizes that respect and collaboration with the KIA is central to the license to operate in the Back River Gold District and will continue to prioritize developing the project in a manner that recognizes Inuit priorities, addresses concerns and brings long-term socio-economic benefits to the Kitikmeot Region. B2Gold looks forward to continuing to build on its strong collaboration with the KIA and Kitikmeot Communities.


Spectacular view of the Northern Lights in the Arctic sky, with the sun setting behind snow-covered hills.

Exploration

A total of $32 million was budgeted for exploration at the Back River Gold District in 2025 to complete approximately 25,000 meters ("M") of drilling, including confirmation drilling at the Umwelt deposit, as well as exploration drilling at several Goose Mine regional targets that were developed based on structural modelling and geophysical re-processing. For the year ended December 31, 2025, the Company ultimately incurred $35 million on Back River Gold District exploration and completed 19,735 m of drilling over 87 drill holes at the Goose Mine. This included 14,480 m over 39 drill holes at the Umwelt deposit, 4,231 m over 15 drill holes at the Llama deposit area, 7,361 m over 14 exploration target drill holes, and 137 m over one metallurgical hole at the Goose Main deposit.

In addition, 8,863 m over 57 holes were drilled on the Back River Gold District regional projects, including George, Boot, Del, Needle and Boulder.

A total of $46 million is budgeted for exploration at the Back River Gold District in 2026, of which $24 million is planned for the Goose Mine. A total of 12,000 m of drilling will target extensions of the Llama and Umwelt deposits, the largest and highest-grade resources at the Goose Mine. In addition, follow up drilling of significant results returned at the Nuvuyak, Mammoth and Hook targets are planned.

Regional exploration including geophysics, mapping, prospecting and till sampling will be undertaken on the George, Boot, Boulder, Del, Beech and Needle projects. This regional work will also include an estimated 13,000 m of diamond drilling to follow up drill-ready targets defined during the 2025 summer regional exploration program. A significantly increased budget of $22 million is being allocated for the Back River Regional projects.

12021 Updated Feasibility Study for the Goose Project dated March 3, 2021