Ms. Tara Christie reports

BANYAN STRENGTHENS TECHNICAL TEAM WITH APPOINTMENTS OF VICE PRESIDENT OF EXPLORATION, KEY GEOLOGICAL POSITIONS AND INDEPENDENT ADVISOR

Banyan Gold Corp. has appointed Duncan Mackay to its management team as vice-president of exploration. Banyan also welcomes the appointment of Frank Wright as an independent adviser on metallurgy and key senior positions with Kate Hudek as database/GIS (geographic information system) manager and Keagan Parry as senior geologist.

"We are pleased to welcome these highly skilled professionals to the Banyan team. Their extensive expertise will be instrumental in advancing our exploration efforts and unlocking the full potential of our projects," stated Tara Christie, president and chief executive officer of Banyan Gold. "These additions to our technical team strengthen our ability to continue to grow and refine our exploration strategy, advance AurMac towards development, and deliver our maiden preliminary economic assessment in 2025."

Vice-president of exploration

Duncan Mackay, PGeo, is an accomplished professional geologist with over 15 years of experience in the mining and mineral exploration industry. Mr. Mackay has worked with leading companies such as Yamana Gold and New Gold, holding key roles in 3-D modelling, project management, and exploration program design and execution. He has extensive experience in exploration target generation and evaluation across numerous styles of gold mineralization throughout the Americas and has worked in grassroots roles through to mine exploration programs. His expertise extends to drill target generation, ore trend interpretation and resource estimation, having managed multidrill programs in remote locations during his time as a project geologist at Yamana Gold. With an MSc in Earth and ocean sciences from the University of Victoria, Mr. Mackay's strong technical skills, leadership abilities and commitment to safety have allowed him to make significant contributions to various successful exploration projects.

Database/GIS manager

Ms. Hudek is a dedicated professional geologist with 10 years of experience in exploration, mining and environmental consulting. Ms. Hudek has extensive experience in GIS, data administration, technical and professional writing, and project support. Throughout her career, she has held key positions, including quality assurance/quality control and database co-ordinator at Yamana Gold and environmental professional roles where she was responsible for creating environmental reports, managing geological data and implementing quality assurance programs. Ms. Hudek has also managed drill programs, contributed to geological modelling and developed site-specific policies. A registered professional geologist (PGeo) with a bachelor of science in geological sciences from the University of Manitoba, Ms. Hudek is proficient in a variety of software tools. Ms. Hudek is committed to advancing her technical expertise and making impactful contributions to innovative projects that drive progress and excellence in the geoscience field.

Senior geologist

Mr. Parry has been a key member of the Banyan team since March, 2021. Mr. Parry's career began with roles as a junior geologist, working on prominent projects such as Taseko's Gibraltar mine, the Coffee gold project with Goldcorp/Newmont and the Eskay Creek project with Skeena Resources. He has a strong background in geological modelling, geotechnical drilling and field mapping. His technical expertise extends to 3-D geological and hydrological modelling and his field experience spans from overseeing drill rigs to managing core logging and geochemical data analysis. In addition to his practical experience, Mr. Parry is pursuing an MSc at the University of Alberta, focusing on geological and mineralization characterization of the AurMac gold deposit and will be joining Banyan full-time in May with the completion of his degree. He holds a BSc (honours) in geological sciences from the University of British Columbia, where he graduated with distinction and completed a thesis on postmineralization deformation in orogenic gold deposits.

New adviser

Frank Wright, PEng, is a seasoned professional with over 40 years of experience in mineral processing, hydrometallurgy and mine environmental consulting. As the principal of F. Wright Consulting Inc. since 1998, he has worked with numerous mining companies, offering his expertise in project management, process design and technical reporting. His extensive work includes overseeing laboratory programs, pilot plant installations and troubleshooting for mining projects, as well as conducting environmental studies to address issues such as acid rock drainage and cyanide destruction. Mr. Wright has served as an independent qualified person for several National Instrument 43-101 technical reports, offering valuable insights to junior and mid-tier mining companies. His recent projects include work with Thesis Gold Inc., Freeman Gold Corp. and NorZinc Corp., where he has provided metallurgical consulting and assisted in developing economic evaluations and technical reports. Holding a bachelor of science in metallurgical engineering from the University of Alberta and a bachelor of business administration from Simon Fraser University, Mr. Wright has also been involved in business development and financing efforts and served on advisory panels for public mining companies.

Grant of options

The board of directors of the company has granted 1.1 million stock options to purchase 1.1 million shares at an exercise price of 25 cents per share with a vesting period of up to 18 months with a five-year term.

The stock options are being issued to employees, 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:

• Tombstone Gold Rush Breakfast -- fireside chat -- Toronto, March 3, 2025:
  • 7 a.m. to 9 a.m. EST;
  • 7:30 a.m. to 9 a.m. EST -- webinar;
• PDAC (Prospectors & Developers Association of Canada) convention -- Toronto, March 2 to March 5, 2025:
  • Exhibitor booth No. 2213 -- March 2 to March 3, 2025;
• SMI (Swiss Mining Institute) conference -- Zurich, March 18 to March 19, 2025.

Qualified person

Paul D. Gray, PGeo, is a qualified person as defined under NI 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 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 Table 1) hosted within near-surface, road-accessible, pit-constrained mineral resources contained in two near/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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