Banyan Announces Grant of Incentive Stock Options
Banyan Gold Corp (TSXV:BYN)(OTCQB:BYAGF) has announced the grant of 8,000,000 stock options to directors, officers, consultants, advisors, and exploration staff. The options are structured as follows: 5,600,000 options with a ten-year term and 2,400,000 with a five-year term, all at an exercise price of $0.21 per share and an 18-month vesting period.
The company's primary asset, the AurMac Project in Yukon Territory, has a current inferred Mineral Resource Estimate of 7.0 million ounces of gold as of February 6, 2024. The project spans 173 square kilometers, is located 40 km from Mayo, and benefits from existing infrastructure including highway access and power supply.
Banyan Gold Corp (TSXV:BYN)(OTCQB:BYAGF) ha annunciato l'assegnazione di 8.000.000 opzioni su azioni a direttori, funzionari, consulenti, advisor e personale di esplorazione. Le opzioni sono strutturate come segue: 5.600.000 opzioni con un termine di dieci anni e 2.400.000 con un termine di cinque anni, tutte a un prezzo di esercizio di $0,21 per azione e con un periodo di maturazione di 18 mesi.
Il principale attivo dell'azienda, il Progetto AurMac nel Territorio dello Yukon, ha una stima attuale delle risorse minerarie inferite di 7,0 milioni di once d'oro a partire dal 6 febbraio 2024. Il progetto si estende su 173 chilometri quadrati, si trova a 40 km da Mayo e beneficia di infrastrutture esistenti, tra cui accesso stradale e fornitura di energia.
Banyan Gold Corp (TSXV:BYN)(OTCQB:BYAGF) ha anunciado la concesión de 8.000.000 opciones sobre acciones a directores, funcionarios, consultores, asesores y personal de exploración. Las opciones se estructuran de la siguiente manera: 5.600.000 opciones con un plazo de diez años y 2.400.000 con un plazo de cinco años, todas a un precio de ejercicio de $0,21 por acción y con un período de adquisición de 18 meses.
El principal activo de la empresa, el Proyecto AurMac en el Territorio de Yukón, cuenta con una estimación actual de recursos minerales inferidos de 7,0 millones de onzas de oro a fecha de 6 de febrero de 2024. El proyecto abarca 173 kilómetros cuadrados, se encuentra a 40 km de Mayo y se beneficia de la infraestructura existente, incluido el acceso a autopistas y el suministro de energía.
바니안 골드 Corp (TSXV:BYN)(OTCQB:BYAGF)는 이사, 임원, 컨설턴트, 고문 및 탐사 직원에게 8,000,000 주식 옵션을 부여했다고 발표했습니다. 옵션은 다음과 같이 구성되어 있습니다: 5,600,000 옵션은 10년 기간이 있으며, 2,400,000 옵션은 5년 기간이 있으며, 모두 주당 $0.21의 행사 가격과 18개월의 행사 기간이 있습니다.
회사의 주요 자산인 오르맥 프로젝트는 유콘 준주에 위치하고 있으며, 2024년 2월 6일 기준으로 700만 온스의 금 자원 추정치를 보유하고 있습니다. 이 프로젝트는 173 제곱킬로미터에 걸쳐 있으며, 메이오에서 40km 떨어져 있으며, 고속도로 접근과 전력 공급 등 기존 인프라의 혜택을 받고 있습니다.
Banyan Gold Corp (TSXV:BYN)(OTCQB:BYAGF) a annoncé l'octroi de 8 000 000 options sur actions aux directeurs, aux cadres, aux consultants, aux conseillers et au personnel d'exploration. Les options sont structurées comme suit : 5 600 000 options avec une durée de dix ans et 2 400 000 avec une durée de cinq ans, toutes à un prix d'exercice de 0,21 $ par action et avec une période d'acquisition de 18 mois.
L'actif principal de l'entreprise, le Projet AurMac dans le Territoire du Yukon, a une estimation actuelle de ressources minérales inférées de 7,0 millions d'onces d'or au 6 février 2024. Le projet s'étend sur 173 kilomètres carrés, est situé à 40 km de Mayo et bénéficie d'infrastructures existantes, y compris l'accès à des routes et un approvisionnement en électricité.
Banyan Gold Corp (TSXV:BYN)(OTCQB:BYAGF) hat die Gewährung von 8.000.000 Aktienoptionen an Direktoren, Führungskräfte, Berater und Explorationsteams bekannt gegeben. Die Optionen sind wie folgt strukturiert: 5.600.000 Optionen mit einer Laufzeit von zehn Jahren und 2.400.000 Optionen mit einer Laufzeit von fünf Jahren, alle zu einem Ausübungspreis von 0,21 $ pro Aktie und einer Vesting-Periode von 18 Monaten.
Das Hauptvermögen des Unternehmens, das AurMac-Projekt im Yukon-Territorium, hat zum 6. Februar 2024 eine geschätzte Mineralressource von 7,0 Millionen Unzen Gold. Das Projekt erstreckt sich über 173 Quadratkilometer, befindet sich 40 km von Mayo entfernt und profitiert von bestehender Infrastruktur wie Straßenanbindung und Stromversorgung.
- Current inferred Mineral Resource Estimate (MRE) of 7.0 million ounces of gold at AurMac Project
- AurMac Project has strategic location with existing infrastructure including highway access and power supply
- Company has rights to earn up to 100% interest in both Aurex and McQuesten Properties
- Stock option grant may lead to potential dilution of existing shareholders
VANCOUVER, BC / ACCESSWIRE / December 5, 2024 / Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF) announces the Board of Directors of the Company have granted 8,000,000 stock options to purchase 8,000,000 shares at an exercise price of
The stock options are being issued to directors, officers, consultants, advisors and exploration staff of the Company. The options were granted under and are subject to the terms and conditions of the Company's stock option plan and were based on the annual compensation review process.
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Qualified Persons
Paul D. Gray, P.Geo., is a "qualified person" as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101"), and has reviewed and approved the content of this news release. Mr. Gray is a consultant to Banyan and has verified the data disclosed in this news release, including the sampling, analytical and test data underlying the information.
About Banyan
Banyan's primary asset, the AurMac Project is located in Canada's Yukon Territory. The current inferred Mineral Resource Estimate ("MRE") for the AurMac Project of 7.0 million ounces has an effective date of February 6, 2024.
The 173 square kilometres ("sq km") AurMac Project lies 40 km from Mayo, Yukon. The AurMac Project is transected by the main Yukon highway and benefits from a 3-phase powerline, existing power station and cell phone coverage. Banyan has the right to earn up to a
The inferred Mineral Resource Estimate "MRE" for the AurMac Project was prepared on February 6, 2024, and consisted of 7,003,000 ounces of gold (see Table 1) hosted within near surface, road accessible pit constrained Mineral Resources contained in two near/on-surface deposits: the Airstrip and Powerline Deposits.
Table 1: Pit-Constrained Inferred Mineral Resources - AurMac Property
Deposit | Gold Cut-Off (g/t) | Tonnage | Average Gold Grade (g/t) | Contained Gold (oz.) |
Inferred | ||||
Airstrip | 0.30 | 35,243,000 | 0.75 | 845,000 |
Powerline | 0.30 | 312,243,000 | 0.61 | 6,158,000 |
Total Combined | 0.30 | 347,486,00 | 0.63 | 7,003,000 |
Notes:
The effective date for the MRE is February 6, 2024, and was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an independent Qualified Person in accordance with the requirements of NI 43-101. The technical report supporting the 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.
Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues.
The CIM Definition Standards were followed for classification of Mineral Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Mineral Resources as an Indicated Mineral Resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured Mineral Resource category.
Mineral Resources are reported at a cut-off grade of 0.30 g/t gold for all deposits, using a US$/CAN$ exchange rate of 0.75 and constrained within an open pit shell optimized with the Lerchs-Grossman algorithm to constrain the Mineral Resources with the following estimated parameters: gold price of US
$1,800 /ounce, US$2.50 /t mining cost, US$5.50 /t processing cost, US$2.00 /t G+A,80% gold recoveries, and 45° pit slopes.The number of tonnes and ounces was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations as per NI 43-101.
In addition to the AurMac Property, the Company holds the Hyland Gold Project, located 70 km Northeast of Watson Lake, Yukon, along the Southeast end of the Tintina Gold Belt (the "Hyland Project"). The Hyland Project represents a sediment hosted, structurally controlled, intrusion related gold deposit, within a large land package (over 125 sq km), accessible by a network of existing gravel access roads.
Banyan trades on the TSX-Venture Exchange under the symbol "BYN" and is quoted on the OTCQB Venture Market under the symbol "BYAGF". For more information, please visit the corporate website at www.banyangold.com or contact the Company.
ON BEHALF OF BANYAN GOLD CORPORATION
(signed) "Tara Christie"
Tara Christie
President & CEO
For more information, please contact:
Tara Christie • 778 928 0556 • tchristie@banyangold.com
Jasmine Sangria • 604 312 5610 • jsangria@banyangold.com
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) nor OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
FORWARD LOOKING INFORMATION: This news release contains forward-looking information, which is not comprised of historical facts and is based upon the Company's current internal expectations, estimates, projections, assumptions and beliefs. Such information can generally be identified by the use of forwarding-looking wording such as "may,""will," "expect," "estimate," "anticipate," "intend(s)," "believe," "potential" and "continue" or the negative thereof or similar variations. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's plans for exploration; and statements regarding exploration expectations, ease and confidence in increasing ounces, exploration or development plans and timelines; mineral resource estimates; mineral recoveries and anticipated mining costs. Factors that could cause actual results to differ materially from such forward-looking information include uncertainties inherent in resource estimates, continuity and extent of mineralization, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, and the other risks involved in the mineral exploration and development industry, enhanced risks inherent to conducting business in any jurisdiction, and those risks set out in Banyan's public documents filed on SEDAR. Although Banyan believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Banyan disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: Banyan Gold Corp.
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FAQ
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How many ounces of gold are in Banyan Gold's (BYAGF) AurMac Project's current MRE?
How many stock options did Banyan Gold (BYAGF) grant in December 2024?
