B2Gold Corp. press release

Great Bear announces $9.25M in Non Brokered Financings

2010-04-01

TSX - Toronto Stock Exchange · Gold · Canada

Apr. 1, 2010 (TheNewswire.ca) --

Great Bear Resources Ltd. ("Great Bear" or the "Company")(CNSX:GBR) is pleased to announce it intends to complete a non brokered private placement consisting of up to 13 Million units at $0.55 per unit. Each unit will consist of one common share and one-half share purchase warrant. Each whole warrant will entitle the holder to acquire an additional common share for $0.70 per share for a two year period. The warrants, after 4 months from closing, will be subject to an accelerated 30 day expiry provision in the event the Company's common shares trade at $ 1.00 or greater for a period of 20 consecutive trading days.

The Company will also undertake a non-brokered flow through private placement with two institutional investors of up to 3,000,000 flow through units at a price of $0.70 per flow through unit. Each unit will consist of one flow through common share and one half share purchase warrant. Each whole warrant will entitle the holder to acquire an additional common share for $1.00 per share for a two year period. The proceeds from the flow though financing will be utilized on the BA project in BC.

Finder's fees will be paid in accordance with regulatory policy. The above private placements are subject to regulatory approval.

The BA Project, Stewart, BC

Great Bear has entered into an Option and Joint Venture Agreement with Mountain Boy Minerals Ltd. (TSXV:MTB)(TSXV- MTB) to earn a 50% interest in the BA project by spending $5.5 M over four years, and can earn an additional 20% interest, for a total of 70%, by completing a Bankable Feasibility Study on or before December 31, 2015.

The BA Project hosts a silver rich volcanogenic massive sulphide (VMS) system that has been drill confirmed for 600 meters of mineralized strike and down dip for 300 meters. The discovery is open for expansion in all directions. To date 66 reported drill holes have been drilled into the Main Zone, 51 of which have returned in excess of 2 oz silver over drill indicated widths of 3 to 134 metres with significant associated lead - zinc mineralization.

The discovery is located 30 km east of Stewart, British Columbia, straddling paved highway 37A on the north flank of Cambria Peak. The VMS horizon at BA is located in the same volcanic stratigraphy that hosts the Eskay Creek gold and silver rich VMS system to the northwest. Host rocks are part of the upper Hazelton Group of the Stikine terrane, which comprises a series of Middle Jurassic bimodal volcanics deposited in a back-arc basin. The felsic volcanic stratigraphic horizon which hosts the VMS mineralization has been mapped over a strike length of approximately 12 km at the BA Property. To date, Great Bear has confirmed, by drilling, a 600 metre strike to the deposit, with a possible 1 kilometre extension based on surface prospecting and identification of footwall alteration and massive sulphide boulders.

Great Bear has approved a $5.3 M exploration program for 2010, with drilling to commence in June. The proposed drill program is designed to aggressively infill drill and extend the deposit beyond its current limits. The mineralized zone is open to the north, south and down dip. The exploration program will consist of:

-Airborne geophysics over an area of approximately 200 square kilometres, aimed at defining the signature of VMS mineralization across the 23 square kilometres of VMS hosting target stratigraphy at the BA and adjacent George Copper claims.

-Over 17,000 metres of diamond drilling in an estimated 200 diamond drill holes. 75% of the proposed drilling is planned to further define and extend the known 600 metre strike length and down-dip continuity of the Main Zone mineralization. 25% of the total drill budget is allocated towards the testing of new targets as defined by geochemical and geophysical anomalies or from mineralized surface exposures.

-Extensive helicopter supported prospecting and geological investigation work, in order to identify drill-worthy targets across the BA property.

Mr. Chris Taylor, M.Sc. P.Geo, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of this news release.

For further information please contact Mr. Archie Nesbitt, President or Mr. Chris Taylor, P.Geo., Vice President Exploration at 604-681-0037.

ON BEHALF OF THE BOARD Investor Relations

Phone: 604.681.0037

Fax: 604.681.0094

"Archie Nesbitt" info@greatbearresources.ca

www.greatbearresources.ca

Archie Nesbitt, President and CEO

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