Banyan Files Technical Report for AurMac Project, 7 Million Ounce Gold Updated Mineral Resource Estimate, Yukon, Canada - Seite 2

oz.

Inferred

Airstrip

0.30

35,243,000

0.75

845,000

Powerline¹

0.30

312,243,000

0.61

6,158,000

Combined Inferred

0.30

347,486,000

0.63

7,003,000

Notes to Table 1:

1. The effective date for the MRE is February 6, 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.[2]
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.

The pit outlines used to constrain the MRE are shown in Figure 1. Detailed images of the Mineral Resource model, including an interactive 3D model and additional information can be found at: https://www.banyangold.com/projects/aurmac/