Arizona Tribune - Banyan Provides Summary of 2024 Diamond Drill Program, Airstrip and Powerline Deposits, AurMac Project, Yukon, Canada

"The discovery of high-grade zones and understanding the geological context and potential continuity of mineralization for intercepts such as, 15.9 m of 9.32 g/t and 3.7 m of 33.43 g/t, puts us on track to reshape perceptions on the scale of the higher-grade zones within and, ultimately, the overall profile of the AurMac Gold Deposits," stated Tara Christie, President and CEO. "2024 drilling confirmed the exceptional potential of the AurMac Project for both grade and ounce growth. As we continue to expand our understanding of the deposit, we're excited about the significant upside from last years' drilling, exploration and geophysical programs has revealed-solidifying our confidence as we move forward with our 2025 drilling and advancing the project to the next stages of development."

Figure 1. AurMac Project Potential Mineral Resource Growth

Drill Plan map presenting the mineralized zones where 2024 drilling has the potential to expand the size and grade of the February 6, 2024 MRE.

Highlights from the 2024 Exploration Program

Airstrip Deposit

2024 drilling in the Airstrip Deposit succeeded in the expansion of known gold mineralization beyond the initial resource area (See Company News Release of February 6, 2024) and identified several high-grade, near-surface mineralized intervals, including drillhole AX-24-590 which intersected 15.9 metres "m" of 9.32 g/t gold from 65.7 m. This represents the first interval of greater than 100 gram-meters (Gold grade g/t times interval metres) from the Airstrip Deposit. The intersection in AX-24-590 intersected high-grade mineralization at the contact of a felsic dyke and the main deposit host lithology. This, along with other drill intersections, indicates the potential to trace a high-grade zone of mineralization along strike and down dip, with potential for the identification of additional high-grade targets. Three other drillholes intersected mineralized intervals with greater than 50 gram-meters including drillhole AX-24-577 which intersected 105.8 m of 0.6 g/t gold from 39.5 m, AX-24-604 which intersected 46.4 m of 1.31 g/t gold from 55.8 m and AX-24-593 which intersected 13.8 m of 3.81 g/t gold from 67.6 m. Mineralization was also identified down dip and outside of the current mineral resource (Figure 2), furthering the potential to grow the grade and size of the deposit, which remains open in all directions; in particular with higher grade potential, east and west along strike and at depth down dip. The Airstrip Deposit is hosted in a metasedimentary package which consists of predominately schists, quartzites and limestones of the Mississippian age Sourdough Hill Member of the Keno Hill Formation. Gold mineralization here is primarily associated with pyrrhotite-bearing skarn altered calcareous schists and with low angle quartz-sulfosalt-arsenopyrite veins seen crosscutting all lithologies. Gold mineralization is interpreted to be associated with a large intrusion related gold system typical of the Tombstone Gold Belt and Selwyn Basin gold deposits.

Image 1: Photograph of Visible Gold from Airstrip Deposit Drillholes:

*True widths are estimated to be approximately 90% of drilled intervals.

Figure 2: Airstrip Deposit 2024 Diamond Drillholes - High-Grade Intervals Map (> 25.0 g*m). The calculation utilized for the presentation is Gold Grade (g/t) x Interval (m). The grade thickness map was calculated using ESRI kernel density method. Where a drillhole has multiple intervals, the highest interval is used in the calculation. Presented below is the Airstrip Deposit, the location of pre-2024 Banyan completed diamond drillholes used in the MRE as black dots and collar locations of 2024 drilling as yellow, orange and red dots, representing grade thickness intervals.

*MRE effective date of February 6, 2024, details in Table 4.

Figure 3:Airstrip Deposit Section 467,000. Section 467,000 mE, presents 2024 drillhole locations with assays. Pink and red ovals represent areas which have potential to add to the existing mineral resource estimate and further potential to expand resource shell boundaries.

Powerline Deposit

2024 drilling in the Powerline Deposit was successful and intersected several of the highest-grade gold intervals drilled at the AurMac Project to date, including drillhole AX-24-540 which intersected 23.1 m of 5.68 g/t gold from 159.3 m, including 0.2 m of 539.3 g/t gold. Drilling from the 2024 program resulted in 16 drillholes of greater than 50 gram-meters. The Powerline Deposit is hosted in a metasedimentary package consisting of predominately schists, quartzites and limestones of the Late Proterozoic to Cambrian age Hyland Group. Gold mineralization here is associated with low angle quartz-sulfosalt-arsenopyrite veins observed cutting lithology. The high-grade quartz veins intersected in the 2024 drilling highlight the potential to define high-grade zones within Powerline and further guide exploration efforts. Gold mineralization in both the Airstrip and Powerline deposits is interpreted to be associated with a large intrusion related gold system typical of the Tombstone Gold Belt and Selwyn Basin gold deposits.

Image 2: Photographs of Visible Gold from Powerline Deposit Drillholes:

Table 2: Powerline Deposit High-grade Interval Highlights (>50 g*m)

*True widths are estimated to be approximately 90% of drilled intervals.

Figure 4: Powerline Deposit 2024 Diamond Drillholes - High-grade Intervals Map (> 25.0 g*m). The calculation utilized for the presentation is Gold Grade (g/t) x Interval (m). The grade thickness map was calculated using ESRI kernel density method. Where a drillhole has multiple intervals, the highest interval is used in the calculation. Presented below is the Airstrip Deposit, the location of pre-2024 Banyan completed diamond drillholes used in the MRE* as black dots and collar locations of 2024 drilling as yellow, orange and red dots, representing grade thickness intervals.

*MRE effective date of February 6, 2024, details in Table 4.

Highlights from the 2024 drill program analytical results include:

Image 3: Drill Core Photographs of High-Grade Intervals from 2024 Drillholes:

Table 3: 2024 Diamond Drill Analytical Results

*True widths are estimated to be approximately 90% of drilled intervals.

Upcoming Events

• SMI Conference, Zurich, March 18 - 19, 2025

Analytical Method and Quality Assurance/Quality Control Measures

All drill core splits reported in this news release were analysed by Bureau Veritas of Vancouver, B.C., utilizing the aqua regia digestion ICP-MS 36-element AQ-200 analytical package with FA-450 50-gram Fire Assay with AAS finish for gold on all samples. All core samples were split on-site at Banyan's core processing facilities. Once split, half samples were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Samples were delivered by Banyan personnel or a dedicated expediter to the Bureau Veritas, Whitehorse preparatory laboratory where samples are prepared and then shipped to Bureau Veritas's Analytical laboratory in Vancouver, B.C., for pulverization and final chemical analysis. A robust system of standards, ½ core duplicates and blanks was implemented in the 2024 exploration drilling program and was monitored as chemical assay data became available.

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 100% interest, in both the Aurex and McQuesten Properties respectively, subject to certain royalties.

The inferred MRE for the AurMac Project was prepared on February 6, 2024, and consisted of 7,003,000 ounces of gold (see Table 4) hosted within near surface, road accessible pit constrained Mineral Resources contained in two near/on-surface deposits: the Airstrip and Powerline Deposits.

Table 4: Pit-Constrained Inferred Mineral Resources - AurMac Project

Notes: ‎

1. 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 NI43-101. 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.

2. 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.

3. 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.

4. 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.

5. 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 Project, 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 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 • [email protected]
Jasmine Sangria • 604 312 5610 • [email protected]

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, timing and risk of earning the final 25% earn-in on the properties 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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