Ms. Tara Christie reports

BANYAN GOLD ANNOUNCES RESULTS FROM ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

Banyan Gold Corp. has noted that all resolutions set out in the management proxy circular for Banyan's 2023 annual general and special meeting of shareholders held on June 15, 2023, were passed.

All director nominees (Marc Blythe, Steve Burleton, Tara Christie and David Reid) have been re-elected to serve for the coming year. The following resolutions were also approved and adopted:

• Fixing the number of directors to four;
• Reappointment of Geib & Company Chartered Accountants as auditor; and
• The company's rolling 10 per cent share option plan.

A total of 144,203,201 common shares, representing 50.7 per cent, of the outstanding common shares were represented in person or by proxy at the meeting.

Further details on the matters considered at the meeting can be found in Banyan's management proxy circular, which is available on the company website or on SEDAR.

Two thousand twenty-three exploration update

Banyan initiated its 2023 exploration program on March 1, 2023, and has had up to three drills operating on the property. Fifty-nine drill holes and over 15,000 metres of drilling have been completed to date which closed the gap between the Powerline zone and Aurex Hill zone, and extended the Aurex Hill zone farther to the east. The 2023 program will include approximately 80 per cent of exploration drilling focused on Powerline and Aurex Hill deposits, as well as expanding the mineralization at Aurex Hill zone to the east, and a commiserate approximately 20 per cent on new targets.

Upcoming events

Banyan will be participating in the upcoming events:

• Invest Yukon Investment Conference and property tours -- July 17 to July 20;
• CEM -- TSX Venture Growth Capital Event, Kelowna -- July 21 to July 23.

About Banyan Gold Corp.

the AurMac property, comprises the Aurex and McQuesten properties, as well as claims staked and owned 100 per cent by Banyan Gold, and adjacent to Victoria Gold's Eagle gold mine, in Canada's Yukon. The updated resource for the AurMac property of 6.2 million ounces (see the table entitled "Pit-constrained inferred mineral resources -- AurMac property") was announced on May 24, 2023.

The 173-square-kilometre AurMac property lies 30 kilometres from Victoria Gold's Eagle project and adjacent to Hecla Mining's high-grade Keno Hill silver mine. The property is transected by the main Yukon highway and the access road to Victoria Gold's open-pit, heap-leach Eagle gold mine. The AurMac property benefits from a three-phase powerline, existing power station and cellphone coverage. Banyan has a right to earn up to a 100-per-cent interest in both the Aurex and McQuesten properties, subject to certain royalties.

The updated mineral resource estimate (MRE) for the AurMac property was prepared May 18, 2023, and consisted of 6,181,000 ounces of gold hosted within near-surface, road-accessible pit-constrained mineral resources, contained in three near-/on-surface deposits: the Airstrip, Aurex Hill and Powerline deposits.

A National Instrument 43-101 technical report supporting the mineral resource estimate will be filed on SEDAR within 45 days of the May 24, 2023, news release.

In addition to the AurMac property, the company holds the Hyland gold project, located 70 kilometres northeast of Watson Lake, Yukon, along the southeast end of the Tintina gold belt. The Hyland project represents a sediment-hosted, structurally controlled, intrusion-related gold deposit within a large land package (over 125 square kilometres), accessible by a network of existing gravel access roads.

We seek Safe Harbor.