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

VANCOUVER, BC / ACCESSWIRE / March 19, 2024 / Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF) announces the filing of the Technical Report to support the Updated Mineral Resource Estimate ("MRE") in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition ‎Standards incorporated by reference in National Instrument 43-101 ("NI 43-101") for the AurMac Project. The AurMac Project is ‎located in the Mayo Mining ‎district, approximately 40 kilometres ("km") northeast from the village of Mayo, Yukon and 356 ‎km north of Whitehorse, Yukon (the "AurMac Property or "AurMac"). ‎The Technical Report was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., Tawnya Thornton, P.Eng., of JDS Energy & Mining Inc. and Deepak Malhotra, PhD., of Forte Dynamics. The Technical Report is available for review on SEDAR at www.sedar.com and on the Company's website at www.banyangold.com.

As announced on February 7, 2024, the Updated AurMac Mineral Resource comprises a total inferred mineral resource of 7,003,000 ounces of gold (Table 1) on the road accessible AurMac Project. The updated MRE contains an Inferred Mineral Resource of 7.0 million ("M") ‎ounces ("oz") of gold (as defined in the CIM Definition ‎Standards for Mineral Resources & Mineral Reserves incorporated by reference into NI 43‑101).

The pit constrained MRE is contained in two near/on-surface deposits: The Airstrip and Powerline[1] deposits in the road accessible AurMac Project. The updated MRE is summarized below in Table 1.

"AurMac's 7 million oz gold Resource is one of the largest potentially open-pit mineable resources in North America," said Tara Christie, Banyan President and CEO. "AurMac also benefits from being in a safe jurisdiction with a proven mine permitting process, adjacent to two existing mines and possessing existing all-season roads and hydro power infrastructure on the property."

Table 1: Pit-Constrained Inferred Mineral Resources - AurMac Project^{(1)(2)(3)(4)(5)}

Deposit

Gold Cut-Off g/t

Tonnage Tonnes

Average Gold Grade g/t

Gold Content