Ms. Tara Christie reports

BANYAN INTERSECTS 0.72 G/T GOLD OVER 197.0 METRES FROM SURFACE, POWERLINE DEPOSIT, AURMAC PROPERTY, YUKON, CANADA

Banyan Gold Corp. has released the analytical results from 12 diamond drill holes collared this season in the Powerline deposit, located on the company's AurMac project, Yukon. These holes were drilled in the north-central portion of the Powerline deposit as part of Banyan's continuing definition and derisking drill campaign on the project.

Assay highlights include:

• AX-24-519 -- 138.7 metres of 0.52 gram per tonne gold from surface (6.1 m);
• AX-24-520 -- 98.1 m of 0.72 g/t Au from near surface (33.7 m);
• AX-24-521 -- 111.4 m of 0.52 g/t Au from near surface (45.5 m);
• AX-24-522 -- 184.3 m of 0.60 g/t Au from near surface (24.9 m);
• AX-24-524 -- 197.0 m of 0.72 g/t Au from surface (10.5 m);
• AX-24-525 -- 55.1 m of 0.91 g/t Au from surface (5.3 m).

"These results increase the confidence and demonstrate the continuity of the near-surface gold mineralization of the Powerline deposit, as the AurMac deposit both continues to add ounces and advances from an inferred resource to an indicated resource," stated Tara Christie, president and chief executive officer. "The focus of drilling in 2024 are areas of higher grade which would likely be part of the mine plan for the PEA [preliminary economic assessment] planned for late 2025."

Highlighted results from this set of 12 drill holes are shown in an attached table.

The Powerline gold deposit is 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-sulphosalt-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.

Upcoming marketing events:

• Precious Metals Summit Beaver Creek -- Sept. 10, to Sept. 13:
  • Corporate presentation -- Sept. 11, at 3:45 p.m. MT.
• Denver Gold Forum Americas -- Sept. 15, to Sept. 18:
  • Corporate presentation -- Sept. 17, at 4:50 p.m. MT.
• Metals Investor Forum Vancouver -- Sept. 20, to Sept. 21:
  • Corporate presentation -- Sept. 20.
• GCFF Conference (Vancouver) -- Sept. 21:
  • Corporate presentation -- Sept. 21, at 10:30 a.m. PT.

2024 exploration update

Banyan initiated its 2024 exploration program on June 1, 2024. Eighty-seven drill holes and over 15,000 m of drilling have been completed to date. This campaign continues to prove up the continuity of the mineralization within the growing Powerline and Airstrip deposits.

Analytical method and quality assurance/quality control measures

All drill core splits reported in this news release were analyzed by Bureau Veritas of Vancouver, B.C., utilizing the aqua regia digestion ICP-MS 36-element AQ-200 analytical package with FA-450 50-gram fire assay and 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 delivered by Banyan personnel or a dedicated expediter to Bureau Veritas's Whitehorse preparatory laboratory, where samples are prepared and then shipped to Bureau Veritas's analytical laboratory in Vancouver, B.C., for pulverization and final chemical analysis. A robust system of standards, one-half core duplicates and blanks was implemented in the 2024 exploration drilling program and was monitored as chemical assay data became available.

About Banyan Gold Corp.

Banyan's primary asset, the AurMac project, is adjacent to Victoria Gold's Eagle gold mine/Raven deposit and Hecla's high-grade Keno silver mine in Yukon. The current inferred mineral resource estimate for the AurMac project of seven million ounces has an effective date of Feb. 6, 2024.

The 173-square-kilometre AurMac project lies 40 km from Mayo, Yukon. The AurMac project is transected by the main Yukon highway and benefits from a three-phase powerline, existing power station and cellphone coverage. Banyan has the right to earn up to a 100-per-cent interest in both the Aurex and McQuesten properties, subject to certain royalties.

The inferred MRE for the AurMac project was prepared on Feb. 6, 2024, and consisted of 7,003,000 ounces of gold hosted within near-surface, road-accessible, pit-constrained mineral resources contained in two near-surface/on-surface deposits: the Airstrip and Powerline deposits.

Qualified person

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

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