Ms. Tara Christie reports

BANYAN DEMONSTRATES MINERALIZATION CONTINUITY FOR POWERLINE AND AUREX HILL FOR THE AURMAC PROPERTY, YUKON, CANADA

Banyan Gold Corp. has released the results from 25 diamond drill holes from the company's continuing 2023 exploration campaign. These drill holes establish that the gold mineralization is continuous between the Powerline and Aurex Hill deposits located on the company's AurMac property, Yukon.

Assay highlights include:

• AX-23-415 -- 37.4 metres of 0.82 gram per tonne gold from 103.4 m;
• AX-23-429 -- 28.0 m of 0.81 g/t Au from 80.5 m;
• AX-23-429 -- 18.5 m of 2.22 g/t Au from 182.0 m;
• AX-23-436 -- 53.8 m of 0.81 g/t Au from 194.5 m;
• AX-23-451 -- 17.7 m of 1.44 g/t Au from 141.1 m.

"Confirmation that AurMac gold mineralization is continuous between Powerline and Aurex Hill was an important goal of our phase 1 drill program," stated Tara Christie, president and chief executive officer. "All these reported drill holes are post the 2023 6.2-million-ounce-gold resource update and are additive to the overall mineral resource of the property, validating management's position there remains room to grow this on- and near-surface deposit. The areal extent of AurMac's interpreted gold mineralization continues to be expanded with each batch of assay results received."

Highlighted results from this set of drill holes are presented in an attached table.

The Powerline and Aurex Hill gold deposits are contained within a metasedimentary package consisting of predominately schists, quartzites and limestones of the Late Proterozoic to Cambrian Hyland group. Gold mineralization here is chiefly associated with low-angle quartz-sulfosalt-arsenopyrite veins seen crosscutting all lithologies and is interpreted to be associated with a large intrusion-related gold system typical of the Tombstone gold belt and Selwyn basin gold deposits. A strong bismuth-gold association has been identified at AurMac and is being utilized to establish exploration vectors over the property.

2023 exploration update

Banyan initiated its 2023 exploration program on March 1, 2023. One hundred drill holes and over 23,400 m of drilling have been completed to date, which together closed the gap between the Powerline zone and the 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 the Powerline and Aurex Hill deposits, as well as expanding the mineralization at the Aurex Hill zone to the east, and a commiserate 20 per cent (approximately) on new targets. The company is currently planning the phase 2 exploration program for 2023.

Analytical method and quality assurance/quality control measures

All drill core splits reported in this news release were analyzed by MSA Canada of Langley, B.C., utilizing the aqua regia digestion ICP-MS 39-element IMS-116 analytical package with FAS-121 50-gram fire assay with AAS finish for gold on all samples. All core samples were split on site at Banyan's core-processing facilities. Once split, half samples were placed back in the core boxes, with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Samples were prepped by MSA personnel on site and then shipped to MSA's analytical laboratory in Langley, B.C., for pulverization and final chemical analysis. A robust system of standards, one-fourth core duplicates and blanks was implemented in the 2023 exploration drilling program and was monitored as chemical assay data became available.

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, 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 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.

Qualified person

Paul D. Gray, PGeo, vice-president of exploration, a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed and approved the content of this news release. Mr. Gray has verified the data disclosed in this press release, including the sampling, analytical and test data underlying the information.

We seek Safe Harbor.