Ms. Tara Christie reports

BANYAN COMPLETES 75% EARN-IN ON THE MCQUESTEN PROPERTY, YUKON

Banyan Gold Corp. has completed the 75-per-cent earn-in on the McQuesten property, comprising 73 claims, which contains the Airstrip deposit and part of the Powerline deposit of the AurMac project (total 907 claims). Banyan has completed all the exploration expenditure requirements to earn 100 per cent. Furthermore, the company owns 51 per cent of the Aurex property (433 claims), which contains the majority of the Powerline deposit and the Aurex Hill deposit. Banyan has until December, 2025, to formalize the Aurex 75-per-cent ownership and has also completed all the exploration expenditures to earn 100 per cent. The remaining 401 claims of the AurMac project are 100 per cent owned by Banyan.

"Formalizing our 75-per-cent ownership of the McQuesten property is an important milestone," stated Tara Christie, president and chief executive officer. "In 2023 the AurMac resource was increased to 6.2 million gld ounces and subsequent exploration continues to expand the footprint of mineralization with 25,000 metres of drilling. The company has a healthy treasury of $7-million while also completing regional exploration work and has ongoing technical work and metallurgy to advance the project."

Stock options grant

The company has granted six million stock options to purchase six million shares at an exercise price of 30 cents per share with a vesting period of up to 18 months. The options are being granted with a five-year term.

The stock options are being issued in connection with Banyan's annual compensation review process and are being issued to officers, consultants, advisers and exploration staff of the company. The options were granted under and are subject to the terms and conditions of the company's stock option plan.

Coming events:

• Metals Investor Forum Vancouver, Jan. 19 to 20, 2024;
• Tombstone Belt Breakfast -- Fireside Chat -- Vancouver, Jan. 22, 2024;
• Vancouver Resource Investment Conference 2024, Jan. 21 to 22, 2024;
• AME Roundup, Jan. 22 to 25, 2025;
• CEM Whistler Capital Event, Feb. 9 to 11, 2024;
• BMO 33rd Global Metals, Mining & Critical Minerals Conference, Feb. 25 to 28, 2024.

About Banyan Gold Corp.

Banyan's primary asset, the AurMac project, is adjacent to Victoria Gold's Eagle gold mine, in Canada's Yukon. The updated mineral resources estimate (MRE) for the AurMac project of 6.2 million ounces has an effective date of May 18, 2023.

The 173-square-kilometre AurMac project lies 30 kilometres from Victoria Gold's Eagle project and adjacent to Hecla Mining's high-grade Keno Hill silver mine. The project is transected by the main Yukon highway and access road to the Victoria Gold open-pit, heap leach Eagle gold mine. The AurMac project benefits from a three-phase power line, 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 MRE for the AurMac project was effective on 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.

We seek Safe Harbor.