Buying and selling of Shares from Convertible Notes

Drilling at AurMac has commenced with instant targets on the Powerline Deposit, as a part of the presently deliberate 5,000 metre (“m“) drill program, which is able to information potential further drilling this yr.

Along with the above, Banyan continues to progress metallurgy, engineering, neighborhood engagement and environmental baseline packages at AurMac. Highlights of ongoing technical work embody structural re-interpretation, 3D geophysical inversion built-in with the three-dimensional geological mannequin and utilising the recommendation of consultants in particular areas, together with Henry Marsden on the strategically deliberate drill program for 2024.

Group engagement this yr has included taking part in profession festivals, training, diversity-based initiatives and First Nation-led initiatives in Mayo. Banyan has additionally partnered with Yukon Seed and Restoration, a Na-cho Nyäk Dun Growth Company majority-owned enterprise, by offering coaching area, lodging and meals for a drone coaching workshop.

Henry Marsden, BSc., MSc.

Henry Marsden is an exploration geologist with greater than 40 years of expertise together with govt exploration roles and mine development positions. Most not too long ago, Mr. Marsden was Senior Vice President of Exploration for Yamana Gold, till the corporate was acquired by Pan American Silver and Agnico Eagle in March 2023. He beforehand served as Chief Geologist for Yamana, starting in 2014.

Mr. Marsden started his mining profession in British Columbia in 1982 with Esso Minerals and Homestake Mining, in all kinds of settings together with Eskay Creek and southern Chile, till 1991. He has labored as a advisor all through North, Central and South America, Turkey and China for quite a few corporations together with Newcrest Mining, Meridian Gold, Gold Fields Exploration and Lake Shore Gold. Mr. Marsden has performed a key position within the discovery and development of a number of deposits together with Rio Blanco and Pico Machay in Peru and the Timmins West gold deposit in Timmins, Ontario. Mr. Marsden holds a B.Sc. in Geology from College of British Columbia and a Grasp of Science in Geology from Carleton College.

Exploration

Banyan Gold commenced drilling this weekend and is happy to announce the primary drill gap, which continues to be being drilled, yielded vital seen gold. “ Congratulations to our geologists who’ve already recognized a number of situations of seen gold beginning at 12 m within the first drill gap of the yr, ” acknowledged Tara Christie, Banyan President & CEO. “This will increase our confidence within the continuity of near-surface (

Photographs: Seen gold in Gap 24-519 first drill gap of the yr.

Inventory Choices Grant

The Board of Administrators of the Firm have granted 1,250,000 inventory choices with an train worth of $0.31 per share and a vesting interval of as much as 18 months. The choices are being granted with a five-year time period.

The inventory choices are being issued to officers, consultants, advisors and exploration employees of the Firm. The choices have been granted underneath and are topic to the phrases and situations of the Firm’s inventory choice plan.

Certified Individuals

Paul D. Grey, P.Geo., is a “Certified Particular person” as ‎outlined underneath NI 43-101, and has reviewed and authorized the content material of this information launch Mr. Grey is Banyan Gold’s geological advisor and has verified the information disclosed on this information launch, together with the sampling, ‎‎analytical and take a look at information underlying the data.

Upcoming Occasions

• Make investments Yukon Funding Convention & Property Excursions – June 21 – 26
• Treasured Metals Summit Beaver Creek – September 10 – 13
• Denver Gold Discussion board Americas – September 15 – 18

About Banyan

Banyan’s main asset, the AurMac Venture is adjoining to Victoria Gold’s Eagle Gold Mine, in Canada’s Yukon Territory. The present inferred MRE for the AurMac Venture of seven.0 million ounces has an efficient date of February 6, 2024.

The 173 sq. kilometres (“sq km”) AurMac Venture lies 30 km from Victoria Gold’s Eagle Venture and adjoining to Hecla Mining’s excessive grade Keno Hill Silver mine. The AurMac Venture is transected by the principle Yukon freeway and entry street to the Victoria Gold open-pit, heap leach Eagle Gold mine. The AurMac Venture advantages from a 3-phase powerline, current energy station and cellphone protection. Banyan has the appropriate to earn as much as a 100% curiosity, in each the Aurex and McQuesten Properties respectively, topic to sure royalties.

The inferred MRE for the AurMac Venture was ready on February 6, 2024, and consisted of 7,003,000 ounces of gold (see Desk 1) hosted inside close to floor, street accessible pit constrained Mineral Assets contained in three close to/on-surface deposits: the Airstrip, and Powerline Deposits.

Desk 1: Pit-Constrained Inferred Mineral Assets – AurMac Venture^{(1)(2)(3)(4)(5)}

Notes to Desk 1:

1. The efficient date for the MRE is February 6, 2024 and was ready by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an unbiased Certified Particular person in accordance with the necessities of NI

43-101. The technical report supporting the Useful resource Estimate entitled “AurMac Property, Mayo Mining District, Yukon Territory, Canada” (the “Technical Report”) has been filed on SEDAR at www.sedarplus.ca on March 18, 2024.

1. Mineral Assets which aren’t Mineral Reserves shouldn’t have demonstrated financial viability. The estimate of Mineral Assets could also be materially affected by environmental, allowing, authorized, title, taxation, sociopolitical, advertising,adjustments in world gold markets or different related points.
2. The CIM Definition Requirements have been adopted for classification of Mineral Assets. The amount and grade of reported Inferred Mineral Assets on this estimation are unsure in nature ‎and there was inadequate exploration to outline these Inferred Mineral Assets as an ‎Indicated Mineral Useful resource and it’s unsure if additional exploration will lead to upgrading them to an ‎Indicated or Measured Mineral Useful resource class.
3. Mineral Assets are reported at a cut-off grade of 0.30 g/t gold for all deposits, utilizing a US$/CAN$ change fee of 0.75 and constrained inside an open pit shell optimized with the Lerchs-Grossman algorithm to constrain the Mineral Assets with the next estimated parameters: gold worth of US$1,800/ounce, US$2.50/t mining value, US$5.50/t processing value, US$2.00/t G+A, 80% gold recoveries, and 45° pit slopes.
4. The variety of tonnes and ounces was rounded to the closest thousand. Any discrepancies within the totals are as a consequence of rounding results; rounding adopted the suggestions as per NI 43-101.

Detailed photographs of the Mineral Useful resource mannequin, together with an interactive 3D mannequin and extra data will be discovered at: https://www.banyangold.com/initiatives/aurmac/

Along with the AurMac Venture, the Firm holds the Hyland Gold Venture, positioned 70 km Northeast of Watson Lake, Yukon, alongside the Southeast finish of the Tintina Gold Belt (the “Hyland Venture“). The Hyland Venture represents a sediment hosted, structurally managed, intrusion associated gold deposit, inside a big land bundle (over 125 sq km), accessible by a community of current gravel entry roads.

Banyan trades on the TSX-Enterprise Alternate underneath the image “BYN” and is quoted on the OTCQB Enterprise Market underneath the image “BYAGF“. For extra data, please go to the company web site at www.BanyanGold.com or contact the Firm.

ON BEHALF OF Banyan Gold CorpORATION

(signed) “Tara Christie”

Tara Christie
President & CEO

For extra data, please contact:

Tara Christie • 778 928 0556 • tchristie@banyangold.com
Jasmine Sangria • 604 312 5610 • jsangria@banyangold.com

CAUTIONARY STATEMENT: Neither the TSX Enterprise Alternate, its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Alternate) nor OTCQB Enterprise Market accepts duty for the adequacy or accuracy of this launch.

No inventory change, securities fee or different regulatory authority has authorized or disapproved the data contained herein.

FORWARD LOOKING INFORMATION: This information launch incorporates forward-looking data, which isn’t comprised of historic information and relies upon the Firm’s present inside expectations, estimates, projections, assumptions and beliefs. Such data can usually be recognized by way of forwarding-looking wording similar to “could”, “will”, “anticipate”, “estimate”, “anticipate”, “intend(s)”, “consider”, “potential” and “proceed” or the unfavourable thereof or comparable variations. Ahead-looking data includes dangers, uncertainties and different elements that might trigger precise occasions, outcomes, efficiency, prospects and alternatives to vary materially from these expressed or implied by such forward-looking data. Ahead trying data on this information launch consists of, however isn’t restricted to, the Firm’s plans for exploration and future financial research, and statements relating to exploration expectations, prospectivity of the Firm’s property pursuits, potential mining processes, pricing assumptions and prices ease and confidence in growing ounces, exploration or improvement plans and timelines; mineral useful resource estimates; mineral recoveries and anticipated mining prices. Components that might trigger precise outcomes to vary materially from such forward-looking data embody uncertainties inherent in useful resource estimates, continuity and extent of mineralization, capital and working prices various considerably from estimates, the preliminary nature of metallurgical take a look at outcomes, delays in acquiring or failures to acquire required governmental, environmental or different venture approvals, political dangers, uncertainties referring to the estimation of mineral sources and the provision and prices of financing wanted sooner or later, adjustments in fairness markets, inflation, adjustments in change charges, fluctuations in commodity costs, and the opposite dangers concerned within the mineral exploration and improvement business, enhanced dangers inherent to conducting enterprise in any jurisdiction, and people dangers set out in Banyan’s public paperwork filed on SEDAR. Though Banyan believes that the assumptions and elements utilized in making ready the forward-looking data on this information launch are cheap, undue reliance shouldn’t be positioned on such data, which solely applies as of the date of this information launch, and no assurance will be on condition that such occasions will happen within the disclosed time frames or in any respect. Banyan disclaims any intention or obligation to replace or revise any forward-looking data, whether or not because of new data, future occasions or in any other case, aside from as required by regulation.

SOURCE: Banyan Gold Corp.

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