Banyan Gold Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Banyan's primary asset AurMac is adjacent to Victoria Gold's Eagle Gold Mine, in Canada’s Yukon Territory, which announced commercial production on July 1, 2020. The AurMac initial resource of 903,945 oz Au was announced in May 2020 with over 40,000 metres in step out drilling completed since then. Banyan's major strategic shareholders include Alexco Resource Corp., Franklin Gold and Precious Metals Fund, Osisko Development, and Victoria Gold Corporation.

Banyan is focused on gold exploration projects that have the geological potential, size of land package and proximity to infrastructure that is advantageous for a mineral project to have potential to become a mine. Banyan’s Yukon based projects both fit this model and its objective is to gain shareholder value by advancing projects in its pipeline.

Investment Highlights

• Yukon Focused Gold Projects
• District-Scale Mineralization – Adjacent to 2 producing Mines – New Mining District
• Victoria Gold’s Eagle Mine – Planning 250,000 oz Au/year by 2023
• Alexco Resource Corp. – high grade silver mine
• Multi-million ounce potential
• Tier 1 Jurisdiction – stable and mines get permitted
• Infrastructure – year-round roads, power, airport etc.
• Long exploration seasons, advance project quickly & year-round exploration news flow
• Q2 2022 – Resource Update
• 2022 – Commence preliminary economic assessment (PEA)
• Well Capitalized – funded into 2023
• Positioned for a Re-Rate in strong gold market and with attention on the area with Victoria Gold’s Eagle Gold Mine
• Strong management team and Shareholders

Projects in Hand

(1) AurMac Gold Project, Yukon

The Aurex ‎and McQuesten properties (together, the “AurMac Property”)‎located in the Mayo Mining ‎district, approximately 56 kilometres northeast from the village of Mayo, Yukon and 356 ‎kilometres north of Whitehorse, Yukon. ‎The AurMac Property lies 30 km from Victoria Gold's Eagle project and adjacent to Alexco's Keno Hill silver district and is highly prospective for structurally controlled, intrusion-related gold-silver mineralization.

The AurMac Property is located adjacent to the main Yukon highway and just off the main access road to the Victoria Gold open-pit, heap leach Eagle gold mine. The AurMac property benefits from a three-phase powerline, existing Yukon Energy Corp. switching power station and cell phone coverage. Banyan has optioned the properties from Victoria Gold and Alexco, respectively, with a right to earn up to 100 per cent, subject to royalties.

May 2020 AurMac initial NI 43-101 Inferred Pit Constrained Resource: 903,945 ounces of gold grading 0.54 g/t Au at a 0.2 g/t Au cutoff. This pit constrained Mineral Resource is contained in two near/on-surface deposits: The Airstrip and Powerline deposits.

• Airstrip: 774,926 oz Au at 0.52 g/t Au
• Powerline: 129,019 oz Au at 0.61 g/t Au

90% Gold Extraction – 2021 Metallurgical Studies

• 90% average recovery from Airstrip and Powerline (Oxide and Sulphide)
• Visible gold, not refractory and rapid leaching
• Gold in fractures
• 2022 additional bottle rolls and column tests

Diamond drilling at AurMac since the Q1 2020 maiden resource announcement stands at approximately 40,000 m – which has been targeted on potential resource expansion of the Airstrip deposit (2020 drilling); and, throughout 2021, the focus has been the rapid expansion of the mineralization footprint at the Powerline deposit. (See news release dated Nov. 9, 2021)

Drilling Program

• 2020 Program expanded Airstrip
• 2021 Drilling Program
• The AurMac drill program for 2021 has concluded, having expanded to four drills and completing 30,091 m of drilling in 135 diamond drill holes (See news release dated Dec. 14, 2021).
• Goal 3M+ ounce gold inferred resource for Q2 2022
• Expanded Powerline from 250 m x 250 m, to 1.8 km x 2 km
• 2022 Drill plans +30,000 m
• Exploration, Expansion and Infill
• Regional exploration and test new targets
• Baseline Environmental
• Metallurgy
• Community Engagement
• Commence preliminary economic assessment (PEA)
• Risk assessment, planning, hiring

(2) Hyland Gold Project, Yukon

The 100% owned Hyland Gold Project is located in the Watson Lake Mining District in southeast Yukon, approximately 70 kilometres northeast of Watson Lake, along the southeast end of the Tintina Gold Belt. The Project covers over 186 sq. km in area that is currently accessible by vehicles on a winter road from Watson Lake. The Hyland Gold project is interpreted as sediment-hosted, structurally-controlled, Carlin-style gold mineralization. The Hyland Gold project consists of the Main Zone, Camp Zone, Cuz Zone, and Montrose Ridge Zone that extends over 11 kilometres.

The Hyland Gold Project has a 2018 NI 43-101 Indicated Mineral Resource of 8.6 million tonnes grading 0.85 g/t gold equivalent (AuEq) for 236,000 AuEq ounces with an Inferred Mineral Resource of 10.8 million tonnes grading 0.83 g/t AuEq for 288,000 AuEq ounces at a 0.3 g/t AuEq cut-off. This resource is located in its entirety on the Main Zone, daylighting at surface to approximate 75m and numerous other known surface gold targets. The Main Zone oxide zone is amenable to heap leach open-pit mining, with column leach recoveries of 86%. The Main Zone is open in all directions and at depth, and has the potential to host a multi-million ounce deposit.

Management

Tara Christie, M.Sc., P.Eng., President & Chief Executive Officer, Director

Over 20 years mining, exploration, permitting, community relations, working with First Nations, field exploration and operational experience

Strong financial/corporate management – over 20 private mining and exploration company experience

Former board member of YESAB (Yukon’s environmental assessment board) and industry associations PDAC, KPMA, AMEBC

Paul Gray, P.Geo., Vice President of Exploration

VP Technical Services: Victoria Gold Corp.

Bluerock Resources, Dawson Gold Corp., and others.

Over 25 years mineral exploration experience

David Rutt, CMA, CPA, Chief Financial Officer & Corporate Secretary

Over 27 years financial industry experience

Landis Energy Corp., Alton Natural Gas LP, Winslow Gold Corp., Greyhound Canada, Nortel Networks

Jasmine Sangria, MBA, Vice President of Corporate Communications

Over 20 years marketing, communications and public relations experience

Award-winning marketing and brand strategist

Former CEO of Tourism Lethbridge

James Thom, M.Sc., Senior Geologist & Field Manager

Geologist with extensive field, project management and geochemical experience in Yukon, BC, Mexico, Peru and Dominican

Helena Kuikka, P.Geo., Senior Geologist

12 years Yukon exploration experience

Developed/implemented Mine Geology and Grade Control at Eagle Gold

Mark Aryanto, Chairman

Mining Executive: Victoria Gold, StrataGold

Over 20 years project development experience

Steve Burleton, MBA, CFA, Director

Over 18 years of experience in the Canadian investment banking industry

Former President & CEO of GT Gold Corp.

David Reid, LL.B, Director

Lawyer: Senior Partner at DLP Piper

Over 30 years experience in mining and securities law

Clynton Nauman, Advisor

President & CEO of Alexco Resource Corp.

Geologist with over 35 years experience

News Update

On Janaury 18, 2023, Banyan Gold Corp. has confirmed a district-scale mineralization trend of over five kilometres on the AurMac property, Yukon.

Diamond drill hole AX-22-365 intersected a broad zone of gold mineralization from surface in a two-kilometre stepout east of the Aurex Hill deposit. The hole averaged 0.48 gram per tonne gold over 45 metres from surface, which underscores the extensive mineralized system of the AurMac property. These results from DDH AX-22-365, taken with drill results from this year's Powerline and Aurex Hill drilling, suggest a large mineralized system of over five km of strike length. These latest results fit with the current interpretation of the mineralization controls on the property, and this interpretation is supported by known geology and geophysical interpretations.

On January 10, 2023, Banyan Gold Corp. has released analytical results from the next 37 diamond drill holes received -- all holes were collared during the company's 2022 exploration program at the Powerline and Aurex Hill deposits, located on the company's AurMac property, Yukon. Assay highlights from this most-recent batch of assays received include:

• 62.2 metres of 0.59 gram per tonne gold from 269.5 m in diamond drill hole AX-22-306;
• 32.5 m of 0.69 g/t Au from 52.4 m in DDH AX-22-312;
• 45.4 m of 0.57 g/t Au from 115.8 m in DDH AX-22-321;
• 47.7 m of 0.7 g/t Au from 47.7 m in DDH AX-22-323;
• 46.9 m of 0.65 g/t Au from 149.4 m in DDH AX-22-333;
• 66.5 m of 0.36 g/t Au from surface (4.6 m) in DDH AX-22-341;
• 34.8 m of 1.02 g/t Au from 153.9 m in DDH AX-22-346;
• 42.9 m of 0.8 g/t Au from 100 m in DDH AX-22-354;
• 63.8 m of 0.69 g/t Au from 160.2 m in DDH AX-22-357;
• 55.5 m of 0.45 g/t Au from 121.9 m in DDH AX-22-358;
• 144.8 m of 0.3 g/t Au from 12.2 m in DDH AX-22-360;
• 143.2 m of 0.31 g/t Au from 18.3 m in DDH AX-22-362.

"Two thousand twenty-two drill results continue to expand the extent of near-[surface]/on-surface gold mineralization at the Powerline and Aurex Hill deposits," stated Tara Christie, president and chief executive officer of Banyan. "Both deposits remain open, and these most-recent results received have demonstrated two notable mineralized trends in Aurex Hill."

On December 28, 2022, The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Dec. 7, 2022, and Dec. 14, 2022.

Number of shares: 12,978,520 flow-through shares, 12,021,480 non-flow-through shares

Purchase price: 56.8 cents per flow-through share, 40 cents per non-flow-through share

Number of placees: 20 placees

Aggregate pro group involvement: one placee, 2,112,667 flow-through

On December 22, 2022, Banyan Gold Corp. has closed its previously announced non-brokered private placement financing of $12.2-million in gross proceeds, subject to final TSX Venture Exchange approval.

The Company intends to use the net proceeds from the Private Placement to advance its mineral exploration and development projects and for general corporate purposes. The 2023 Exploration Programs at the AurMac Property are intended to include in excess of 25,000 metres ("m") of diamond drilling, an update to the Resource model, metallurgical test work, and environmental baseline data collection.

On December 14, 2022, Banyan Gold Corp. has increased its previously announced non brokered private placement to raise aggregate gross proceeds of up to $12,180,391 through the issuance of up to 12,978,520 premium flow-though (FT) shares at a price of 56.8 cents per premium FT share and up to 12,021,480 common shares (which shall not be flow-through shares) at a price of 40 cents per hard share. The offering is now fully subscribed.

"We are pleased with the strong interest and support Banyan continues to receive in the market and, with this fully subscribed financing, we will be well positioned to execute on our business plan in 2023," stated Tara Christie, president and chief executive officer.

On December 16, 2021, Banyan Gold Corp. announced that it has granted an aggregate of 3,325,000 options to purchase common shares of the Company to certain directors, officers, employees and consultants.

The 2022 drill season will start early in the new year and the first 15,000 m of 30,000 m has been planned. Additional drill locations will be determined after reviewing analytical results.

On December 14, 2021, Banyan Gold Corp. reported assay results from eight diamond drill holes of the phase 2 exploration campaign at the Powerline deposit, AurMac property, Yukon.

Assay highlights include:

• DDH AX-21-134: 72.9 m of 0.51 g/t Au;
• DDH AX-21-135: 57.9 m of 0.61 g/t Au;
• DDH AX-21-137: 118.4 m of 0.44 g/t Au;
• DDH AX-21-139: 72.4 m of 1.73 g/t Au;
• DDH AX-21-141: 58.0 m of 0.47 g/t Au;
• DDH AX-21-150: 41.7 m of 0.66 g/t Au.

On December 7, 2021, Banyan Gold Corp. has released the complete set of results from the diamond drill exploration campaign on the Aurex Hill zone at the Company's AurMac property, Yukon.

Assay highlights include:

• DDH AX-21-116: 13.7 m of 0.59 g/t Au;
• DDH AX-21-116: 17.8 m of 0.81 g/t Au;
• DDH AX-21-117: 71.6 m of 0.36 g/t Au;
• DDH AX-21-118: 43.9 m of 0.52 g/t Au;
• DDH AX-21-119: 13.8 m of 0.66 g/t Au;
• DDH AX-21-120: 89.2 m of 0.35 g/t Au;
• DDH AX-21-121: 34.4 m of 0.53 g/t Au;
• DDH AX-21-123: 46.0 m of 0.41 g/t Au;
• DDH AX-21-125: 24.2 m of 0.57 g/t Au;
• DDH AX-21-127: 41.2 m of 0.54 g/t Au.

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