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Banyan Gold Corp
Symbol BYN
Shares Issued 24,384,000
Close 2015-08-04 C$ 0.03
Market Cap C$ 731,520
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Banyan Gold starts exploration program at Hyland

2015-08-05 09:12 ET - News Release

Mr. Mark Ayranto reports

BANYAN COMMENCES 2015 EXPLORATION PROGRAM AT HYLAND GOLD PROJECT AND RECEIVED GOVERNMENT EXPLORATION FUNDING

Banyan Gold Corp. has commenced a first phase 2015 exploration program on its Hyland gold property, Yukon, Canada.

The Hyland project is dominated by the 16-kilometre-long north-south Quartz Lake corridor (QLC) and is interpreted to be the dominant control for gold mineralization at Hyland. Previously identified secondary cross faults that intersect the Quartz Lake corridor have demonstrated a strong correlation with gold and silver mineralization. To date, Banyan has identified five cross-fault targets with only one, the Main zone, having been definition drilled to date. Of the 16 km long Quartz Lake corridor, less than four km has been systematically explored.

The phase 1 2015 Hyland mineral exploration program contemplates up to 800 metres of drilling at the Camp zone (an undertested mineralized target within the QLC), trenching and access development at Montrose Ridge, and systematic targeting of first-order arsenic-gold-in-soil anomalies farther south along the Quartz Lake lineament to identify additional high-priority targets for drill testing.

Importantly, as previously announced (see news release dated April 16, 2015), Banyan has completed prepositioning fuel, supplies and exploration equipment, including a D-6 Cat, PCS200 excavator and a KD1000 diamond drill. The heavy equipment will also be utilized for drill site preparation as well as trenching of additional target areas without the need for costly helicopter support. A phase 2 exploration program will be contingent on results and improved market conditions.

Banyan is further pleased to announce the 2015 Hyland exploration program was approved for funding under the Yukon mineral exploration program (YMEP). Through YMEP, the Yukon government will fund up to approximately $40,000 of the planned phase 1 exploration program on the Hyland gold project.

"The rethink of Hyland's regional setting and mineralization style, and subsequent realization that Hyland is of similar tenor and style to certain Carlin type deposits (like Silver Standard's Marigol gold mine), coupled with the success Banyan has had in testing this thesis during the 2013/2014 exploration seasons, greatly increases management's confidence that a regionally significant mineralized system structurally controlled along the Quartz Lake corridor exists and warrants detailed attention," stated Mark Ayranto, chairman.

This news release has been reviewed and approved by Paul D. Gray, PGeo, a qualified person as defined by National Instrument 43-101.

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