Ms. Tara Christie reports

BANYAN ANNOUNCES COMMENCEMENT OF ZTEM AIRBORNE GEOPHYSICAL SURVEY, AURMAC AND NITRA PROJECTS, YUKON

Banyan Gold Corp. has commenced a helicopter-supported Z-axis tipper electromagnetic (ZTEM) geophysical survey on the company's AurMac and Nitra projects in Yukon.

The airborne survey is being conducted by Geotech Ltd. over an area of 234 square kilometres on the AurMac project that hosts the Powerline and Airstrip deposits, together consisting of seven million ounces of gold inferred mineral resources. Furthermore, an additional 382 square kilometres are being surveyed on Banyan's nearby and highly prospective Nitra project. Nitra project has seen only limited exploration to date but is adjacent to known Cretaceous intrusions, including those on the Gold Dome property, which are interpreted to extend onto the Nitra property. Within the Nitra property, there are six currently active producing placer gold mines as well as several historic placer gold mines. The ZTEM survey allows for signal penetration through deep or conductive cover to identify potential intrusions up to two kilometres deep and has been shown to be a useful tool to aid in the discovery of deep-seated and structurally controlled mineral deposits, including reduced intrusion gold systems. The results of the ZTEM survey will be used, along with soil geochemical samples collected in 2022 to 2024, to identify additional drilling targets for the 2025 exploration programs.

"With the AurMac resource believed to be hosted in the hornfels lithologies adjacent to an interpreted intrusive source, this targeted ZTEM survey will be focused on the identification of intrusive sources and related structural components of the AurMac gold deposits as well as delineation of areas with the potential to host additional gold mineralization on Banyan's underexplored (over 300 square kilometres) of prospective area over its AurMac and Nitra properties. This style of ZTEM survey conducted on tight line spacing across Banyan's district-scale holdings will considerably add to the geologic database of this rapidly advancing gold camp," stated Tara Christie, president and chief executive officer. "Geotech's ZTEM surveys have proven to deliver highly useful geological information that, when combined with on the ground geochemistry and mapping, have repeatedly led to the discovery of on- and near-surface gold deposits. This will be the first time a comprehensive survey of this district has been undertaken. When this new data is integrated with existing geological and geophysical data, we anticipate the identification and testing of priority drilling targets as part of the fully funded 2025 drill program."

Coming events

• Yukon Geoscience Forum -- Nov. 17 to Nov. 20, 2024;
• New Orleans Investment Conference -- Nov. 20 to Nov. 23, 2024;
• Corporate update and breakfast -- Nov. 21, 2024, 7:15 a.m. CST.

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.

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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