Banyan intersects 1.16 gt of gold over 68.9 meters at the Powerline deposit, Aurmac property, Yukon


VANCOUVERBanyan Gold Corp. (the “Company” or “Banyan”) (TSXV: BYN) (OTCQB: BYAGF) is pleased to report analytical results from twenty-one (21) diamond drill holes completed during the 2021 exploration program Company’s Powerline Deposit (the ”Powerline Deposit”) located on the Company’s AurMac property.

About Banian

Banyan’s core asset, the AurMac property, includes the Aurex and McQuesten properties, as well as claims staked and 100% owned by gold banyan treeand adjacent to Victoria Gold’s Eagle Gold Minein from Canada Yukon Territory. The AurMac property’s initial resource of 903,945 oz Au was announced in May 2020. Our major strategic shareholders include Franklin Gold and Precious Metals Fund, Osisko Developmentand Victoria Gold Corporation. Banyan focuses on gold exploration projects that have the geological potential, land size and proximity to infrastructure that are advantageous for a mining project to have the potential to become a mine. Our yukon the based projects both fit this model and our goal is to create shareholder value by advancing the projects in our pipeline.

The 173 km² AurMac property is 30 km from Victoria Gold’s Eagle Project and adjoining the Keno Hill Silver Quarter operated by Alexco Resource Corp. (“Alexco”) and has strong potential for gold-silver mineralization related to structurally controlled intrusions. The property is located next to the main yukon the highway and just off the main access road to the Victoria Gold open pit mine, heap leach golden eagle mine. The AurMac Property benefits from an existing three-phase power line Yukon Energy Corporation power station switching and mobile phone coverage. Banyan has optioned the properties of Victoria Gold and Alexco, respectively, with the right to acquire up to 100% interest, subject to royalties.

Contact:

Tara Christie

Tel: 778 928 0556

Email: [email protected]

FORWARD-LOOKING INFORMATION

This press release contains forward-looking information, which does not consist of historical facts. Such information can generally be identified by the use of forward-looking terms such as “may”, “should”, “expect”, “estimate”, “anticipate”, “intend”, “believe”, “potential” and “continues”. ‘ or the negative thereof or similar variants. 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 contained in this press release includes, but is not limited to, the potential for the Powerline deposit to host surface and near-surface gold mineralization; future expansion of the mineralized footprint of the Powerline deposit; the expected timing of remaining assay results from the 2021 exploration program; future drilling on the AurMac property and the expected timing thereof; the timing and expected scope of the planned exploration program for the AurMac property in 2022; the expected timing of Banyan’s plans to update the mineral resources on the AurMac property in 2022; Banyan’s future objectives, goals or plans; statements regarding exploration forecasts, exploration or development plans and mineral resource estimates. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, uncertainties inherent in resource estimates, capital and operating costs that vary significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or inability to obtain governmental, environmental or other approvals required for projects, political risks, uncertainties related to the availability and costs of necessary financing in the future, changes in stock markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in project development and other risks related to the exploration industry and mining development, the heightened risks inherent in doing business in any jurisdiction. diction, and risks set forth in Banyan’s public filings on SEDAR. Although Banyan believes that the assumptions and factors used in preparing the forward-looking information contained in this press release are reasonable, undue reliance should not be placed on such information, which speaks only as of the date of this release. release, and no assurance can be given that such events will occur within the timeframes disclosed 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, except as required by law.

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