BANYAN GOLD CORP CL A ORD - BYAGF STOCK NEWS

Banyan Gold Corp. (TSXV:BYN)(OTCQB:BYAGF) announced the results from 37 diamond drill holes completed during its 2022 exploration program at the Powerline and Aurex Hill deposits in Yukon. Highlights include:

• 62.2 m of 0.59 g/t Au in DDH AX-22-306
• 32.5 m of 0.69 g/t Au in DDH AX-22-312
• 147.7 m of 0.70 g/t Au in DDH AX-22-323

The results confirm and expand the extent of gold mineralization at both deposits, which remain open for further exploration. The updated resource estimate for the AurMac Property stands at 3,990,000 ounces of gold.

Banyan Gold Corp (OTCQB:BYAGF) has successfully closed a non-brokered private placement financing of $12.2 million to enhance its treasury, aimed at advancing the AurMac Property in 2023. The placement included approximately 12.98 million premium flow-through shares at $0.568 each and 12.02 million common shares at $0.40. Proceeds will fund exploration activities, including over 25,000 metres of diamond drilling. The company also granted 7.75 million stock options to its team, establishing a solid foundation for future growth.

Banyan Gold Corp. (TSXV:BYN, OTCQB:BYAGF) has announced an increase in its non-brokered private placement to raise $12,180,391. This includes issuing up to 12,978,520 premium flow-through shares at $0.568 each and 12,021,480 common shares at $0.40 each, which are fully subscribed. Funds will be used for advancing the AurMac Property and general corporate purposes. Closing is expected around December 22, 2022, pending necessary approvals.

Banyan Gold Corp (OTCQB: BYAGF) plans to raise up to $11.5 million through a private placement of Premium Flow-Through shares priced at $0.568 and Hard Shares priced at $0.40. The offering aims to fund exploration at the AurMac Property and general corporate purposes. The proceeds from Premium FT Shares will be dedicated to Canadian exploration expenses and are expected to be completed by December 22, 2022. The AurMac Property has an updated resource of 3,990,000 ounces of gold.

Banyan Gold Corp. announced promising results from 36 diamond drill holes from its 2022 exploration program at the Powerline and Aurex Hill deposits in Yukon. Key highlights include:

• 56.6 m of 0.46 g/t Au in DDH AX-22-283
• 34.5 m of 1.00 g/t Au in DDH AX-22-284
• 19.2 m of 1.24 g/t Au in DDH AX-22-2844
• 70.6 m of 0.49 g/t Au in DDH AX-22-337

The drilling program totaled over 50,000 m, confirming and expanding gold mineralization. The findings support a strong understanding of the deposits’ potential, with ongoing exploration to enhance resource estimates.

Banyan Gold Corp. announced promising results from its 2022 diamond drilling program at the Powerline Deposit on the AurMac Property, with highlights including:

• 177.9 m of 0.47 g/t Au in DDH AX-22-251
• 114.1 m of 0.52 g/t Au in DDH AX-22-252
• 40.5 m of 0.86 g/t Au in DDH AX-22-257

These results indicate a consistent expansion of the mineralized footprint. The company, operating with four drills, aims to provide a resource update in 2023 after incorporating these assays into their geological model.

Banyan Gold Corp has appointed Jason Neal as an advisor, bringing his extensive experience in mining and investment banking. Neal's background includes leadership roles at G Mining Ventures and Kirkland Lake Gold. The company plans to enhance exploration efforts at its AurMac Property, which boasts an updated resource estimate of 3,990,000 ounces of gold. Additionally, Banyan has granted 425,000 stock options with an exercise price of $0.45 per share. The company remains focused on advancing its projects in the Yukon region.

Banyan Gold Corp (OTCQB: BYAGF) filed a Technical Report supporting its Updated Mineral Resource Estimate for the AurMac Property on June 29, 2022. This report, prepared by qualified professionals, reveals an inferred mineral resource of 3,990,000 ounces of gold, located in three deposits: Airstrip, Powerline, and Aurex Hill. The report is accessible on SEDAR. Additionally, exploration drilling has progressed, with over 26,000 meters completed out of a planned 60,000 meters for 2022.

Banyan Gold Corp has completed a Royalty Purchase Agreement from the Estate of Jim McFaull, acquiring 100% royalty interest on 97 claims in the Aurex Claim Block of the AurMac Property. This agreement removes a royalty burden, facilitating advancement of the AurMac project, which hosts significant mineral resources totaling 3,990,000 ounces of gold. Additionally, a scholarship dedicated to the late Jim McFaull will be established, providing $5,000 annually for students in geology and mining.