B2Gold Corp. and Auryx Gold Corp. Sign Binding Agreement for Proposed Business Combination

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Oct. 11, 2011) – B2Gold Corp. (TSX:BTO)(OTCQX:BGLPF)(PINK SHEETS:BGLPF) (“B2Gold”) and Auryx Gold Corp. (TSX:AYX)(NSX:AYX) (“Auryx”) are pleased to announce that they have signed a binding agreement (the “B2Gold Transaction”) to combine the two companies at the agreed exchange ratio of 0.23 B2Gold shares plus a cash payment of $0.001, for each Auryx share held, which represents a purchase price of approximately C$0.88 per Auryx share and a premium of 78% using the 20 day volume weighted average share price of each respective company, and a 74% premium over the Auryx closing share price on October 7, 2011 based on the closing price for the B2Gold shares as of such date. Based on the 20 day volume weighted average share price of B2Gold of C$3.81 per share, the transaction was valued at a total equity value of approximately C$160 million based on the fully-diluted in-the-money shares outstanding of Auryx.