Full Name

Gramalote

Project Type

Gold, Open pit mining

Development
Phase

Prospecting and drilling

Project
Status

Active

Project
Capacity

300,000 oz/y (ounces per

year) Gold
Open pit mining

MINING COLOMBIA

Gramalote
Shortcut: Milestone Log | Companies | Key Contacts | Related
News

The Gramalote deposit is a structurally controlled intrusive-hosted gold

system with the potential to host a large open pittable gold deposit.
Preliminary metallurgical testing at the property has established the
feasibility of using standard cyanide-based leaching techniques. The
gold production of this project is estimated at 300,000 oz / a.
Last Review: 01/28/2016

Investment

US$ 700mn

Completion
Date

2016

Location

The Gramalote property is

located some 230km
northeast of Colombian
capital Bogot and some
80km northeast of Antioquia
department capital Medelln.
* The map coordinates
provided above represent
the approximate latitude and
longitude, and not the exact
location, of the project in
question.


Gramalote

+-

Leaflet

Milestone Log
Date

Activity

27/Jan/2016

Zonte Metals, together with its local partner, has asked the Antioquia department secretary of
mines to reevaluate the application for open ground over the Gramalote deposit, after
previously denying the issue of the title.

01/Dec/2015

Colombia's environmental evaluation service (ANLA) issued AngloGold Ashanti with an

environmental permit, allowing it start developing its project.

09/Nov/2015

Drilling started to test targets generated from soil sampling within the Gramalote JV
tenements and infill drilling in the saprolite horizon. 2,550m was completed during the quarter.

13/Mar/2014

B2Gold and AngloGold Ashanti have postponed a feasibility study for the Gramalote gold
project. Following the results of a preliminary economic assessment, the companies decided
to advance the environmental impact study, which they plan to submit to local regulators by
the second quarte.

14/Nov/2013

A prefeasibility study (PFS) for the Gramalote gold project in Colombia is expected by the end
of the year, Vancouver-based B2Gold CEO Clive Johnson told a call to discuss Q3 financial

results.

24/Sep/2013

Vancouver-based B2Gold (TSX: BTO, OTCQX: BGLPF) was scheduled to meet with JV
partner South African AngloGold Ashanti (NYSE: AU) on Tuesday to discuss the future of the
Gramalote project in Colombia, B2 Gold CEO Clive Johnson said Monday at the Denver Gold
Forum.

14/Aug/2013

Vancouver-based B2Gold (TSX: BTO) and its JV partner are "absolutely prepared" to shelve
the Gramalote gold project in central Colombia if its economics don't stack up in the current
metals price environment, CEO Clive Johnson told a call to discuss Q2 financial results.

15/May/201
3

B2Gold CEO Clive Johnson said he remains positive on reaching an agreement with JV
partner AngloGold Ashanti over the size of a proposed mine at the Gramalote gold project.

27/Feb/2013

B2Gold is evaluating the possibility of a trade or sale of its stake in the Gramalote gold project
to JV partner AngloGold Ashanti.

19/Nov/2012

Development spending at Vancouver-based B2Gold's Gramalote project will rise to US$54mn

in the year by November 30, up from US$36.9mn previously planned, CEO Clive Johnson
said. The increased spending includes further exploration work, infill drilling and land
purchases.

19/Nov/2012

AngloGold Ashanti and B2Gold expect to make a decision by the end of February to move
the project from pre-feasibility to a full feasibility study. Results of the latter could be expected
by 1Q14.

30/Mar/2012

B2Gold announced a prefeasibility and exploration budget of US$36.9mn for the Gramalote
property in central Colombia, a 49:51 JV with South Africa's AngloGold Ashanti.

12/Aug/2010

AngloGold Ashanti is pleased to announce that it has entered into an agreement with B2Gold
Corp. to amend the Gramalote joint venture agreement. The companies have also agreed to
a budget for the Gramalote project, for the second half of 2010 totaling US$9.18mn. This
budget will fund 10,000m of diamond drilling, infill drilling, drilling for metallurgical test
samples, and feasibility work.

14/Feb/2008

AngloGold Ashanti is pleased to announce that it has entered into a JV agreement with
B2Gold Corp. Under the amended terms, AngloGold have a 51% interest in the Gramalote
project.

Related Companies
Name

Sector

Country

Ownership

Relation

B2Gold Corp.

Mining

Canada

49%

Project Owners

Name

Sector

Country

Ownership

Relation

AngloGold Ashanti Ltd.

Mining

South Africa

51%

Project Owners

Key Contacts
Name

Company

Position

Contact

AngloGold
Ashanti Ltd.

Owner / operator

investors@anglogoldashanti.com 27-11-6376000
27-11-6376031

B2Gold Corp.

Owner / operator

investor@b2gold.com 1-604-6818371

Michael
Bedford

AngloGold

Senior VP,
Business Strategy

mbedford@anglogoldashanti.com 27-11-6376273

Stewart Bailey

AngloGold

VP, Investor
Relations

sbailey@anglogoldashanti.com 1-212-836 4303