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Banyan Gold Corp
Symbol BYN
Shares Issued 46,890,560
Close 2016-11-14 C$ 0.07
Market Cap C$ 3,282,339
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Banyan drills 30.7 m of 1.3 g/t Au, 8 g/t Ag at Hyland

2016-11-14 09:23 ET - News Release

Ms. Tara Christie reports

BANYAN INTERSECTS 30.7M OF 1.3 G/T GOLD AND 8.0 G/T SILVER AT THE HYLAND GOLD PROJECT, YUKON

Banyan Gold Corp. has released the results from the 2016 Hyland gold project diamond drill program. The drill program targeted infill and extension of the main zone gold-silver deposit. Each of the three holes drilled in 2016 returned long intervals of main zone mineralization including 30.7 metres of 1.3 grams per tonne gold and eight grams per tonne silver from 18.3 metres to 49 metres (drill hole HY-16-48), 27.1 metres of 1.02 grams per tonne Au and 16 grams per tonne Ag from 24.4 metres to 51.5 metres (drill hole HY-16-49), and 35.7 metres of one gram per tonne Au and 2.5 grams per tonne Ag from 76 metres to 111.6 metres (drill hole HY-16-10). The 2016 drill results have further confirmed the structure and continuity of the main zone gold-silver resource (1) and highlight the grade potential at Hyland's main zone. The main zone deposit remains open for expansion to the east, north and to depth.

(1) The main zone gold inferred resource, at a 0.6-gram-per-tonne gold-equivalent cut-off, hosts a National Instrument 43-101-compliant resource of 12,503,994 tonnes containing 361,692 ounces gold at 0.9 gram per tonne and 2,248,948 ounces silver at 5.59 grams per tonne for a combined gold and silver 396,468 ounces gold equivalent.

In addition, oxide and sulphide gold-silver mineralization was collected to be utilized for metallurgical recovery test work.

"Banyan is excited to report on the first drill holes the company has drilled in the Hyland gold main zone deposit," commented Tara Christie, president and chief executive officer. "The exploration focus on Banyan's flagship Hyland gold project is to continue to demonstrate the property hosts a large, district-scale mineralized system while also communicating that the 400,000-ounce gold-silver resource defined on the property remains expandable. Metallurgical recovery test work on the main zone is the next step in the ongoing deposit appraisal, and these results are expected in the near term."

     SELECTED INTERVALS FROM HYLAND MAIN ZONE 2016 DRILL PROGRAM
   
Hole ID         From (m)   To (m)   Length (m)   Gold (g/t)   Silver (g/t)

HY-16-48            1.2    103.0        101.8         0.67            5.3         
Including          18.3     49.0         30.7         1.30            8.0         
And including      61.0    103.0         42.0         0.57            4.7         
                                                           
HY-16-49            0.0    143.0        143.0         0.50           12.2        
Including          24.4     51.5         27.1         1.02           16.0        
And including      90.5    124.0         33.5         0.75            7.0         
                                                           
HY-16-50            0.0    125.0        125.0         0.70            4.8         
Including          15.2     67.5         52.3         0.83            3.3         
And including      76.0    111.6         35.7         1.00            2.5         

The 2016 diamond drill program was conducted by Kluane Drilling Ltd. of Whitehorse, Yukon, and consisted of three holes (HQ/NQ drill holes) totalling 475 metres. In total, 312 drill core samples were collected and analyzed as part of this program; assays ranged from trace to 6.68 grams per tonne Au and averaged 0.46 gram per tonne Au. Only 16 of the 312 samples returned over two grams per tonne Au, a fact that highlights the consistent nature of the main zone mineralization.

Analytical method

All drill core samples collected from the Hyland 2016 program were analyzed at SGS Canada Inc. of Burnaby, B.C., utilizing the GE-ICP14B, 34-element ICP (inductively coupled plasma) analytical package with GE-FAA515 50-gram fire assay with gravimetric finish for gold on all samples (GE_ICP14B). All core samples were split on site at Banyan's Quartz Lake exploration camp core processing facilities. Once split, half samples were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. All these samples were shipped to the SGS's Burnaby, B.C., laboratory where samples were sorted and crushed to appropriate particle size (pulp) and representatively split to a smaller size for analysis. A robust system of standards was implemented in the 2016 exploration drilling program and was monitored as chemical assay data became available.

Maps and visual aids in support of the Hyland 2016 diamond drill program will be made available on the company's website.

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

About Banyan Gold

Banyan is a gold exploration and development company. It owns the Hyland gold project, which is approximately 70 kilometres northeast of Watson Lake, Yukon, along the southeast end of the Tintina gold belt.

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