Banyan Announces 2024 Exploration and Technical Program, AurMac Project, Yukon, Canada - Seite 2

Metallurgy Program Update

Banyan has commenced additional follow-up metallurgical studies with Forte Analytical, LLC in Fort Collins, Colorado and Base Metallurgical Laboratories Ltd. in Kamloops, British Columbia, towards the optimization of the three conventional mining processes including CIP/CIL, flotation and heap leaching identified in the February 6, 2024, news release. Testwork will focus on optimization of gold recoveries through expanded test work designed to evaluate various grind sizes and reagent rates along with combination of gravity recovery in the mill process flow sheets. Additionally, amenability to pre-concentration test work is being conducted to support future trade off studies.

Internal Project Scoping and Engineering

Banyan has been working with engineering consultants to initiate internal scoping and engineering investigations to support the evaluation of the three conventional mining processes including CIP/CIL, flotation, and heap leaching, identified in the February 6, 2024, news release. The initial Project evaluations will incorporate various throughputs for each process flowsheet and will utilise the results from the Phase 1 and ongoing metallurgy programs to support definition of the operational parameters used for future economic studies. Moreover, the scoping studies will be used to outline areas for initial engineering field investigations of potential mine infrastructure.

Environmental Baseline Update

Banyan has been conducting environmental baseline studies for the AurMac Project since 2021 through the collection of surface water quality, hydrological and meteorological information to compliment the robust data set collected by Hecla Mining Company and Victoria Gold Corp. from their ongoing mining operations on adjacent properties. Banyan will expand the environmental baseline programs for the AurMac Project in the summer of 2024 inclusive of groundwater investigations to support future permit applications and economic studies.

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Qualified Persons

Paul D. Gray, P.Geo., is a "Qualified Person" as ‎defined under NI 43-101, and has reviewed and approved the content of this news release Mr. Gray is Banyan Gold's geological consultant and has verified the data disclosed in this news release, including the sampling, ‎‎analytical and test data underlying the information.

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