BANYAN GOLD CORP CL A ORD - BYAGF STOCK NEWS

Banyan Gold Corp. (TSXV:BYN)(OTCQB:BYAGF) welcomes the $40 million federal funding announcement for studying the connection of British Columbia and Yukon electrical grids. This initiative, supported by the Critical Minerals Infrastructure Fund, could benefit Banyan's AurMac Project, which is already positioned near an existing powerline.

The company also announced granting 400,000 stock options at $0.22 per share with a five-year term and up to 18-month vesting period to directors, officers, consultants, advisors, and exploration staff.

Banyan's primary asset, the AurMac Project, has a current inferred Mineral Resource Estimate of 7.0 million ounces of gold, effective February 6, 2024. The project, located 40 km from Mayo, Yukon, covers 173 square kilometers and benefits from existing infrastructure.

Banyan Gold Corp. (TSX-V:BYN)(OTCQB:BYAGF) has released an update on its ongoing metallurgical test program for the AurMac Project in Yukon Territory. Key highlights include:

• Gold recovery of 93%, 92%, and 90% from Powerline, Powerline East, and Airstrip deposits respectively, using conventional gravity separation and whole ore leaching (CIL/CIP) at a 75-micron grind size.
• Gravity recoverable gold was 54%, 46%, and 24% from Powerline, Powerline East, and Airstrip bulk samples respectively.
• Low sulphide concentration and excess buffering capacity indicate the deposits are non-acid generating.

The test results demonstrate strong gold recoveries and support the potential for multiple conventional mill processing options. Banyan will continue to optimize these potential mill flow sheets to support future economic studies, including a planned PEA in 2025.

Banyan Gold Corp. (TSXV:BYN) has completed the 75% earn-in on the Aurex Property, which contains the majority of the Powerline Deposit at the AurMac Project in Yukon. The company has fulfilled all exploration expenditure requirements to earn 100%. Banyan also completed 75% ownership of the McQuesten Property in December 2023 and has until December 2025 to complete a PEA for 100% ownership. The AurMac Resource was recently increased to 7.0 million gold ounces, following positive metallurgical test results. Banyan is currently conducting 20,000 metres of targeted drilling and ongoing technical work to support the PEA completion by December 2025.

Banyan Gold Corp. (TSXV:BYN)(OTCQB:BYAGF) announced voting results from its Annual General and Special Meeting held on September 6, 2024. 46.02% of outstanding shares were voted, with shareholders approving all director nominees, the appointment of John J. Geib as auditor, and the company's Stock Option Plan. The company's primary asset, the AurMac Project in Yukon Territory, has an inferred mineral resource estimate of 7.0 million ounces of gold as of February 6, 2024. The project, spanning 173 square kilometres, is located near existing infrastructure and other mining operations. Banyan also holds the Hyland Gold Project in Yukon.

Banyan Gold Corp. (TSXV:BYN)(OTCQB:BYAGF) has announced key changes to its Board of Directors. Hayley Halsall-Whitney, with over 20 years of mining industry experience, has been appointed as a new board member. Marc Blythe, an existing independent director, has been named non-executive Chair of the Board. These appointments aim to strengthen Banyan's leadership as it advances its AurMac Gold Project.

The company also provided an operational update, noting that forest fires in the Yukon have impacted their activities. Banyan has taken measures to protect infrastructure and support firefighting efforts. Due to the wildfires and a request from the First Nation of Na-Cho Nyäk Dun, Banyan has slowed drilling activities but plans to complete its 20,000 m program by November 2024.

Banyan's AurMac Project currently has an inferred Mineral Resource Estimate of 7.0 million ounces of gold, effective February 6, 2024. The project is located 40 km from Mayo, Yukon, and benefits from existing infrastructure.

Banyan Gold has provided an update on its 2024 exploration program at the AurMac Project in Yukon. With $18 million in funding, the company plans 20,000 meters of drilling, metallurgy, scoping studies, and environmental programs. Currently, Banyan is conducting a 5,000-meter drill program at the Powerline Deposit. Efforts also include a three-dimensional geophysical model and airborne survey for both AurMac and Nitra properties. Soil sampling at Nitra will identify future drilling targets. Despite wildfires in Yukon, no fires affect AurMac's infrastructure, and Banyan is assisting local communities.

Banyan Gold announced the closing of the second tranche of its private placement, raising $299,970 through the issuance of 1,111,000 common shares at $0.27 per share.

The total funds raised from both tranches amount to $14,301,270. The proceeds will be used for general and administrative expenses.

The shares are subject to a hold period under Canadian securities laws expiring on October 22, 2024.

This financing is in compliance with Canadian private placement exemptions and is not available for U.S. investors.

Banyan Gold has commenced its 2024 drilling program at the AurMac Project in Yukon and welcomed Henry Marsden as a Technical Advisor. The initial focus is on the Powerline Deposit as part of a planned 5,000-meter drill program. Early signs are promising with visible gold found in the first drill hole. Banyan is also advancing metallurgy, engineering, community engagement, and environmental initiatives. Henry Marsden, with over 40 years of experience, brings extensive expertise to the project. The project boasts an inferred mineral resource estimate of 7 million ounces of gold. Additionally, Banyan's Board has granted 1.25 million stock options at $0.31 per share to various stakeholders, to be vested over 18 months.

Banyan Gold Corp. announces its 2024 exploration and technical program at the AurMac Project in Yukon, Canada. The company plans diamond drilling, metallurgical work, and engineering to support economic studies and permit applications. The project aims to demonstrate higher-grade mineralization, expand mineral resources, and optimize mining processes. Banyan is well-positioned with a 7 million ounce gold resource and existing infrastructure. The company will continue to add value through drilling, metallurgy, and engineering in 2024.