Ms. Tara Christie reports

BANYAN GOLD CORP CLOSING FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Banyan Gold Corp., subject to TSX Venture Exchange approval, has completed a first tranche non-brokered private placement for $600,000 in gross proceeds by issuing a total of four million shares.

The first tranche private placement consists of four million flow-through shares (within the meaning of the Income Tax Act (Canada)), priced at 15 cents per share. Net proceeds will be used on the company's continuing summer exploration program at the Aurex-McQuesten and Hyland gold projects.

The shares issued will be subject to the customary four-month hold period.

A cash commission of $28,860 will be paid on part of the funds raised.

The first tranche closing is part of a larger flow-through financing whereby the company may issue up to 6,666,666 flow-through shares at 15 cents for total gross proceeds of $1-million. Cash commissions of up to 6.5 per cent may be paid on the financing.

Insiders participated for $65,000 or 433,333 shares in the first tranche.

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-gram-per-tonne-gold-equivalent cut-off, hosts a National Instrument 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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