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Banyan Gold Corp
Symbol BYN
Shares Issued 65,509,568
Close 2017-06-09 C$ 0.12
Market Cap C$ 7,861,148
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Banyan to start 4,000 m drill program at Hyland in July

2017-06-09 06:44 ET - News Release

Ms. Tara Christie reports

BANYAN GOLD ANNOUNCES $1 MILLION 2017 EXPLORATION PROGRAM FOR THE COMPANY'S FLAGSHIP HYLAND GOLD PROJECT

Banyan Gold Corp. has budgeted for a $1-million advanced exploration program at the company's 100-per-cent-owned Hyland gold project.

"This season's drilling program at the 100-per-cent-owned Hyland gold project will focus on the meaningfully advancement of the current NI 43-101-compliant, about-40,000-ounce, grading-0.99-gram-per-tonne-gold-equivalent, on-surface, Main zone inferred resource as well as test the growing Camp and Montrose Ridge zones on the property," stated Tara Christie, president and chief executive officer. "The past four seasons of exploration work at Hyland have highlighted the district-scale mineral potential of the property, and we believe now is the right time to focus on the Main zone gold resource to generate maximum shareholder value for our company."

Hyland gold project -- 2017 exploration

The 2017 Hyland gold project program will begin in mid-July after the phase I Aurex-McQuesten program is completed and will continue through September. Four thousand metres of diamond drilling are planned for the Main and Camp zones in the Hyland North portion of the property. Additional targeted surface trenches and soils geochemical surveys are planned for this area with a concentration on the Camp zone. Diamond drilling initiatives will be focused on the Hyland Main zone toward an update of the existing National Instrument 43-101-compliant inferred resource as well as continuing to test mineralization targets in the Camp zone, including following up on the 2016 discovery in trench CZ-16-01, which returned 96 metres grading 0.64 gram per tonne gold from zero metre to 96 metres, including 56 metres grading 1.03 grams per tonne gold from zero metre to 56 metres of a broad fault zone consisting of predominantly gouge and brecciated clastic units of the Hyland formation (see company news release dated Nov. 3, 2016).

In the Hyland South area, exploration will continue to build out the district-scale mineralization potential of the Hyland property through reconnaissance-level geochemical sampling to cover areas that have never been soil sampled as well as targeted grid based geochemical surveys over defined geochemical soil anomalies. Exploration focus in these areas has been bolstered by a comprehensive structural analysis of the propertywide LiDAR survey completed in the fall of 2016 and several targets deemed prospective for hosting structurally related mineralization have been identified.

The program is well supported by an existing 35-person camp, prepositioned drilling, and heavy equipment and existing roads. Based on results as the program progress, the company will continue to examine financing opportunities to expand the 2017 Hyland gold exploration program.

The Hyland gold project lies in the Selwyn basin, a prolific geological domain that hosts Atac's Rackla gold project to the north and, more locally, Golden Predator's 3 Aces project, approximately 150 kilometres north.

Technical information

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

About Banyan Gold Corp.

Banyan is a well-financed growth-stage gold exploration company whose flagship property, the Hyland gold project, is approximately 70 kilometres northeast of Watson Lake, Yukon, along the southeast end of the Tintina gold belt. The main zone gold inferred resource, at a 0.6 g/t gold equivalent cut-off, hosts an NI 43-101 resource of 12,503,994 tonnes containing 361,692 ounces gold at 0.9 g/t and 2,248,948 ounces silver at 5.59 g/t for a combined gold and silver 396,468 ounces gold equivalent. The newly acquired 9,230-hectare Aurex-McQuesten property, in close proximity to Victoria Gold's Eagle project and Alexco Resource's Keno Hill silver district, is highly prospective for structurally controlled, intrusion-related gold-silver mineralization in relation to quartz monzonite dikes of the Tombstone intrusive suite.

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