Ms. Tara Christie reports

BANYAN GOLD FILES TECHNICAL REPORT FOR AURMAC PROPERTY, 6.2 MILLION OUNCE UPDATED MINERAL RESOURCE ESTIMATE, YUKON, CANADA

Banyan Gold Corp. has filed the technical report to support the updated mineral resource estimate, in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definition standards incorporated by reference in National Instrument 43-101, for the AurMac property. The AurMac property is located in the Mayo mining district, approximately 40 kilometres northeast from the village of Mayo, Yukon, and 356 km north of Whitehorse, Yukon. The technical report was prepared by Marc Jutras, PEng, MASc, principal of Ginto Consulting Inc., Tawnya Thornton, PEng, of JDS Energy & Mining Inc., and Deepak Malhotra, PhD, of Forte Dynamics. The technical report is available for review on SEDAR and on the company's website.

As announced on May 24, 2023, the updated AurMac mineral resource comprises a total inferred mineral resource of 6,181,000 ounces of gold (see the table entitled "Pit-constrained inferred mineral resources -- AurMac property") on the road-accessible AurMac property.

This pit-constrained mineral resource is contained in three near-surface/on-surface deposits: the Airstrip, Powerline and Aurex Hill deposits. The resource estimate is summarized in the table entitled "Pit-constrained inferred mineral resources -- AurMac property."

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. Ninety-four drill holes and over 22,000 metres of drilling have been completed to date, which together closed the gap between the Powerline zone and Aurex Hill zone, and extended the Aurex Hill zone farther to the east.

Qualified person

Paul D. Gray, PGeo, is a qualified person as defined under National Instrument 43-101, and has reviewed and approved the contents of this new release. Mr. Gray has verified the data disclosed in this news release, including the sampling, analytical and test data underlying the information.

Upcoming events:

• Invest Yukon Investment Conference and property tours -- July 18 to July 20;
• CEM -- TSX Venture Growth Capital Event, Kelowna -- July 21 to July 23.

About Banyan Gold Corp.

Banyan's primary asset, 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 6.2 million ounces has an effective date of May 18, 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.

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.