Ms. Tara Christie reports

BANYAN DRILLING CONFIRMS HIGH GRADE STRUCTURAL CONTROLS AND GRADE CONTINUITY AT POWERLINE, AURMAC PROJECT

Banyan Gold Corp. has released the latest analytical results from 19 diamond drill holes within the Powerline deposit, located on the company's AurMac project in Yukon. This set of holes was drilled in the north-central portion of the Powerline deposit as part of the continuing definition drilling program to increase confidence of the resource model.

Highlights from these assay results:

• AX-24-534: 48.0 metres (m) of 0.53 gram per tonne (g/t) gold (Au) from 75.1 m;
• AX-24-536: 75.1 m of 0.29 g/t Au from near surface (23.9 m);
• AX-24-538: 21.5 m of 1.06 g/t Au from near surface 71.9 m;
• AX-24-540: 0.2 m of 539.30 g/t Au from 166.1 m:
  • And 56.7 m of 0.36 g/t Au from 166.3 m;
• AX-24-541: 90.0 m of 0.68 g/t Au from surface (13.5 m);
• AX-24-542: 154.1 m of 0.58 g/t Au from surface (18.3 m);
• AX-24-544: 0.3 m of 290.10 g/t Au from 37.1 m;
• AX-24-545: 78.6 m of 0.41 g/t Au from 74.9 m;
• AX-24-548: 79.6 m of 0.56 g/t Au from near surface (26.5 m);
• AX-24-549: 37.5 m of 0.81 g/t Au from near surface (44.5 m).

"The 2024 definition drilling program at AurMac has intersected multiple instances of high-grade gold veins, exceeding 11.00 g/t Au (1) and up to 539.00 g/t. These east-west-oriented vein sets align with the direction of continuity of the structurally controlled Powerline gold mineralization. The increased drill density realized through this year's work will improve the interpretation of the quantity, distribution and thickness of these high-grade gold veins and their significance within the framework of the Powerline gold mineralization, which is in turn expected to result in refinements to the primary structural controls of the deposit," stated Tara Christie, president and chief executive officer. "The successful 2024 AurMac exploration program, combined with record-high gold prices, have strategically positioned Banyan for a resource update [and] preliminary economic assessment (PEA), and, importantly, has provided clear exploration and definition drill targets for 2025."

(1) Banyan considers any assayed interval above the maximum mineral resource estimate (MRE) capping threshold of 11.00 g/t Au to be high grade (see news release dated Feb. 6, 2024).

Highlighted results of drill hole assays from this news release are presented in an attached table and collar locations in another table.

The Powerline 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-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.

Upcoming events:

• Precious Metals Forum Zurich -- Nov. 11 to 12;
• Corporate presentation -- No. 11, at 10:45 a.m. CET;
• Yukon Geoscience Forum -- Nov. 17 to No. 20;
• Corporate presentation -- Nov. 17, at 1 p.m. PST;
• New Orleans Investment Conference -- Nov. 20 to Nov. 23;
• Corporate update and breakfast -- Nov. 21, at 7:15 a.m. CST.

2024 exploration update

Banyan initiated its 2024 exploration program on June 1, 2024, and, over the course of this season, 118 drill holes and over 21,000 m of drilling have been completed within the Powerline and Airstrip deposits. Drilling was completed in mid-October, and core continues to be logged and processed, with this expected to be completed by mid-November.

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 (inductively coupled plasma mass spectrometry) 36-element AQ-200 analytical package with FA-450 50-gram fire assay with AAS (atomic absorption spectroscopy) 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 the Bureau Veritas, 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.

Qualified persons

Paul D. Gray, PGeo, is a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects, 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 Canada's Yukon. The current inferred mineral resource estimate (MRE) for the AurMac project of 7.0 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 cell phone 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 mineral resource estimate 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/on-surface deposits: the Airstrip and Powerline deposits.