Ms. Tara Christie reports

BANYAN GOLD ANNOUNCES INCREASE TO ITS NON-BROKERED PRIVATE PLACEMENT AND CLOSES SHARES FOR DEBT

Banyan Gold Corp., subject to TSX Venture Exchange approval, is increasing its previously announced (Aug. 9, 2016) non-brokered private placement to $1.2-million in gross proceeds due to strong demand.

The financing will consist of flow-through shares priced at 7.5 cents per share and non-flow-through units priced at 6.5 cents per unit. Each unit will consist of one common share and one-half of a share purchase warrant. Each warrant is exercisable into one common share at a price of 8.5 cents for a period of 24 months from closing. Depending on the final mix of flow-through shares and units, a maximum of 15,384,615 shares will be issued. It is expected that the board of directors and management will participate in the financing.

The financing may be closed in tranches at the discretion of the corporation with final closing by Sept. 2, 2016, at the latest. A finder's fee of up to 6 per cent may be paid on a portion of the financing.

Funds raised from the financing will be applied to the evaluation of acquisitions, general and administrative costs, and exploration on Banyan's flagship Hyland project.

The corporation has received TSX Venture approval to issue 700,000 common shares at a deemed value of 6.5 cents in exchange for debt of $45,500 held by a company controlled by Tara Christie, the president of the company.

We seek Safe Harbor.