Ms. Tara Christie reports

BANYAN EXTENDS GOLD MINERALIZATION 450 METRES AT HYLAND GOLD PROJECT, YUKON

Banyan Gold Corp. has released analytical results from the surface trench program conducted in conjunction with the 2018 diamond drilling focused on the area north of the main zone of the 100-per-cent-owned Hyland gold project in the Yukon's emerging Selwyn basin district.

The 2018 exploration program at Hyland was focused on the establishment of mineralization continuity between the current National Instrument 43-101 resource* at the Hyland gold project Main zone and the recently discovered Camp zone to the north. To this end, eight trenches totalling 1,184 metres and 11 diamond drill holes totalling 1,294 metres were completed. These collective exploration initiatives combined to successfully extend gold mineralization signatures between the Main and Camp zones and emphasized the importance of brittle deformation to tenor and extent of gold mineralization.

* The Hyland Main zone indicated gold resource estimate, prepared in accordance with NI 43-101, at a 0.3-gram-per-tonne gold equivalent cut-off, contains 8.6 million tonnes grading 0.85 g/t AuEq for 236,000 AuEq ounces with an inferred mineral resource of 10.8 million tonnes grading 0.83 g/t AuEq for 288,000 AuEq ounces.

"Surface trenches are an important tool to establish gold mineralization at the Hyland project, and the 2018 Hyland exploration project focused on trenches to demonstrate continuity of mineralization between the existing Main zone resource and Banyan's Camp zone discovery," stated Tara Christie, president and chief executive officer. "The eight trenches constructed and sampled this season have added over 450 metres of prospective ground to the existing Main zone resource, and have clearly demonstrated the Quartz Lake corridor persists in this area. Banyan is confident the forthcoming results from the diamond drill holes that were collared based on the strength of these trenched exposures of anomalous mineralization will underpin the strength of these trench assays."

Of particular note from this season's trenches are TR-18-03 and TR-18-08, which together have added over 150 metres of Hyland Main zone tenor surface gold mineralization immediately north of the current NI 43-101 resource* at the Main zone. Highlighted results from these two trenches include:

• 152 metres of 0.64 g/t Au and 4.93 g/t Ag in TR-18-03;
• 42 metres of 0.90 g/t Au and 6.31 g/t Ag in TR-18-08.

These trenches are punctuated by multiple two-metre channel samples ranging in grade from 1.0 g/t to 4.0 g/t, and it was noted from trench mapping and sampling that this higher-grade gold mineralization increases with the intensity and widths of fault breccias and gouge zones. This gold-silver mineralization association has been noted within Main zone and furthermore exhibit a similar approximate 1:4 Au:Ag ratio, indicating persistent Main zone-style mineralization toward the Camp zone.

Assays from TR-18-01, TR-18-02 and TR-18-07 have extended anomalous surface gold mineralization an additional 300 metres north of trenches TR-18-03 and TR-18-08 to correspond with the overall gold-silver grades of historic (more easily accessible) trench results from 1987 and 1988 in the vicinity. This season's efforts were focused on areas previously inaccessible by historic operators due to challenging topography.

Additional highlighted results from this season's trenches include:

• 76.0 metres of 0.32 g/t Au and 0.18 g/t Ag in TR-18-01;
• 58.0 metres of 0.15 g/t Au and 0.19 g/t Ag in TR-18-02;
• 18.0 metres of 0.65 g/t Au and 0.27 g/t Ag in TR-18-07;
• 10.0 metres of 0.48 g/t Au and 1.22 g/t Ag in TR-18-07;
• 20.0 metres of 0.21 g/t Au and 1.02 g/t Ag in TR-18-07.

The full results from the 2018 trenching are provided in the associated table and a map with trench locations and assays will be made available on the company's website.

Trench                 From         To      Width         Au         Ag
                        (m)        (m)        (m)      (ppm)      (ppm)

TR-18-01                2.0       78.0       76.0       0.32       0.18
incl.                  24.0       32.0        8.0       0.88       0.18
TR-18-02               54.0      112.0       58.0       0.15       0.19
TR-18-03                0.0      152.0      152.0       0.64       4.93
incl.                   0.0        8.0        8.0       1.14       2.78
incl.                  26.0       34.0        8.0       1.06       2.60
incl.                  46.0       80.0       34.0       1.01      14.51
incl.                  86.0      110.0       24.0       1.04       2.25
TR-18-04                        overburden -- failed to reach bedrock**
TR-18-05                        overburden -- failed to reach bedrock**
TR-18-06                        overburden -- failed to reach bedrock**
TR-18-07              102.0      120.0       18.0       0.65       0.27
and                   156.0      166.0       10.0       0.48       1.22
and                   184.0      204.0       20.0       0.21       1.02
TR-18-08               92.0      142.0       42.0       0.90       6.31

** Trenches TR-18-04, TR-18-05 and TR-18-06 were not sampled as the 
depth of overburden exceeds the excavator capacity and bedrock was not 
reached. 
  

In addition to trenching, 11 diamond drill holes (totalling 1,294 metres) were completed in the same target area and, in conjunction with these important surface trench samples, were located so as to establish gold-silver mineralization continuity along the projected shallow dipping upper limb of the Main zone over the target 1.25 km of previously limited tested strike length between the Main and Camp zones. Diamond drill assay results are expected shortly and will be released when they become available.

Analytical method

All trench channel samples collected from the Hyland gold program were analyzed at Bureau Veritas Minerals of Burnaby, B.C., utilizing the aqua regia digestion ICP-MS (inductively coupled plasma mass spectrometry) 36-element AQ200 analytical package with FA450 50-gram fire assay with AAS (atomic absorption spectroscopy) finish for gold on all samples. Samples were sealed in poly bags with one part of a three-part sample tag inserted within. Samples were delivered by Banyan personnel or a dedicated expediter to the Bureau Veritas, Whitehorse, preparatory laboratory where samples are prepared and then shipped to Bureau Veritas's Analytical laboratory in Burnaby, B.C., for pulverization and final chemical analysis. A robust system of standards, field duplicates and blanks was implemented in the 2018 exploration trenching program and was monitored as chemical assay data became available.

Technical information

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

About Banyan Gold

Banyan is a growth-stage gold exploration company whose flagship property, the Hyland gold project, lies 70 kilometres northeast of Watson Lake, Yukon, along the southeast end of the Tintina gold belt.

The Hyland main zone indicated gold resource estimate, prepared in accordance with NI 43-101, at a 0.3-gram-per-tonne-gold-equivalent cut-off, contains 8.6 million tonnes grading 0.85 g/t gold equivalent for 236,000 AuEq ounces with an inferred mineral resource of 10.8 million tonnes grading 0.83 g/t AuEq for 288,000 AuEq ounces.

   
Cut-off grade       In situ            Au                  Ag                AuEq              
(g/t AuEq)           tonnes     Grade     Ounces    Grade      Ounces   Grade     Ounces   
                                 (g/t)               (g/t)               (g/t)
Indicated            
0.3               8,637,000      0.78    216,000     7.04   1,954,000    0.85    236,000
Inferred             
0.3              10,784,000      0.77    266,000     5.32   1,845,000    0.83    288,000

Notes:
(1) Mineral resources, which are not mineral reserves, do not have demonstrated 
economic viability. All figures are rounded to reflect the relative 
accuracy of the estimate. 
(2) Mineral resources are reported at a cut-off grade of 0.3 gram per tonne 
gold equivalent. Gold equivalent grade is based on $1,350 per ounce gold and  
$17 per ounce silver and assumes a 100-per-cent recovery. The gold equivalent 
calculation does not apply any adjustment factors for difference in 
metallurgical recoveries of gold and silver. This information can only be 
derived from definitive metallurgical testing, which has yet to be completed.
   

We seek Safe Harbor.