Ms. Tara Christie reports

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

Banyan Gold Corp. has completed the 75-per-cent earn-in on the Aurex property, comprising 433 claims, which contains the majority of the Powerline deposit at the AurMac project (total 907 claims). Banyan has completed all the exploration expenditure requirements to earn 100 per cent.

The company completed the 75-per-cent ownership of the McQuesten property, which contains the Airstrip deposit (73 claims) in December, 2023, and has until December, 2025, to complete a PEA (preliminary economic assessment) and finalize the 100-per-cent ownership. The remaining 401 claims of the AurMac project are 100 per cent owned by Banyan.

"Formalizing our 75-per-cent ownership of the Aurex property is an important milestone," stated Tara Christie, president and chief executive officer. "On Feb. 6, 2024, the AurMac resource was increased to seven million gold ounces (see [attached table]), which followed up on positive metallurgical test results announced Feb. 6, 2024. The company has a healthy treasury which is helping fund the ongoing 20,000 metres of targeted drilling and has ongoing technical work and metallurgy to support the PEA being completed by December, 2025."

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 consultant to Banyan and has verified the data disclosed in this news release, including the sampling, analytical and test data underlying the information.

Coming events:

• Precious Metals Summit Beaver Creek -- Sept. 10 to Sept. 13, 2024:
  • Corporate presentation -- Sept. 11, 2024, at 3:45 p.m. MDT;
• Denver Gold Forum Americas -- Sept. 15 to Sept. 18, 2024:
  • Corporate presentation -- Sept. 17, 2024, at 4:50 p.m. MDT;
• Metals Investor Forum Vancouver -- Sept. 20 to Sept. 21, 2024:
  • Corporate presentation -- Sept. 20, 2024, at 1:30 p.m. PDT;
• GCFF (Global Chinese Financial Forum) conference (Vancouver) -- Sept. 21, 2024:
  • Corporate presentation -- Sept. 21, 2024, at 10:30 a.m. PDT.

About Banyan Gold Corp.

Banyan's primary asset, the AurMac project is located in Yukon, Canada. The current inferred mineral resource estimate (MRE) for the AurMac project of seven million ounces has an effective date of Feb. 6, 2024.

The 173-square-kilometre AurMac project lies 40 kilometres from Mayo, Yukon. The AurMac project is transected by the main Yukon highway and benefits from a three-phase power line, 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, respectively, 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 (see attached table) hosted within near-surface, road-accessible, pit-constrained mineral resources contained in two near-surface/on-surface deposits: the Airstrip and Powerline deposits.

In addition to the AurMac project, the company holds the Hyland gold project, located 70 kilometres northeast of Watson Lake, Yukon, along the southeastern 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.

Banyan trades on the TSX Venture Exchange under the symbol BYN and is quoted on the OTCQB Venture Market under the symbol BYAGF.

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