Ms. Tara Christie reports

BANYAN ANNOUNCES CLOSING $31.4 MILLION PRIVATE PLACEMENT WITH STRATEGIC INVESTOR

Banyan Gold Corp. has closed a non-brokered private placement whereby the company has issued (i) 23.7 million common shares (the special FT (flow-through) shares), which qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada), at a price of 97 cents per special FT share, for gross proceeds of $22,989,000; and (ii) 12 million common shares at a price of 70 cents per share (the HD (hard-dollar) shares), for gross proceeds of $8.4-million for aggregate gross proceeds to the company of $31,389,000.

The special FT shares and HD shares were issued pursuant to applicable private placement exemptions and are subject to a hold period under Canadian securities laws expiring Feb. 16, 2026.

The company will use the gross proceeds raised pursuant to the issuance of special FT shares to incur (or be deemed to incur) eligible Canadian exploration expenses that qualify as flow-through mining expenditures (as both terms are defined in the tax act) related to the company's projects in Yukon, on or before Dec. 31, 2026, and to renounce all the qualifying expenditures in favour of the subscribers of the special FT shares effective Dec. 31, 2025. The net proceeds raised pursuant to the issuance of the HD shares will be used for general and administrative expenses.

Both the subsequent buyer of the special FT shares and the HD shares is a strategic investment by Alpayana SAC. The offering remains subject to the final approval of the TSX Venture Exchange.

"Banyan welcomes the support of Alpayana, along with the Gubbins family, with this timely investment to accelerate advancing our AurMac project," stated Tara Christie, Banyan president and chief executive officer.

About Alpayana SAC

Alpayana is a family owned private mining group with more than 39 years of continuous operations in Peru and Mexico.

Alpayana currently operates six mining units: Americana, Yauliyacu, Iscaycruz, Morococha and Yauricocha in the Peruvian Andes, as well as Bolivar in Mexico. The company combines operational expertise with a proven record in M&A (merger and acquisition) and disciplined project development focused on generating lasting intrinsic value. Alpayana's revenues are expected to exceed $1-billion (U.S.) in 2025.

The company is committed to sustainable and responsible mining, guided by a long-term vision that prioritizes the well-being of its employees, the protection of the environment and the development of the indigenous communities surrounding its operations. Through its current mining infrastructure in the Americana and Yauliyacu mines, Alpayana provides clean water for more than 2.5 million people.

Qualified person

Duncan Mackay, MSc, PGeo, is a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects (NI 43-101), and has reviewed and approved the content of this news release in respect of all disclosure other than the MRE. Mr. Mackay is vice-president, exploration, for 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 the Traditional Territory of First Nation of Na-Cho Nyak Dun, in Canada's Yukon Territory. The current mineral resource estimate (MRE) for the AurMac project has an effective date of June 28, 2025, and comprises an indicated mineral resource of 2,274,000 ounces of gold (Au) (112.5 million tonnes at 0.63 gram per tonne) and an inferred mineral resource of 5,453,000 oz of Au (280.6 M tonnes at 0.60 g/t) (as defined in the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources & Mineral Reserves incorporated by reference into National Instrument 43-101). The 291.8-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 cell phone coverage.

We seek Safe Harbor.