Ms. Tara Christie reports

BANYAN COMPLETES THIRD YEAR EARN IN COMMITMENTS ON THE AUREX AND MCQUESTEN GOLD PROPERTIES, YUKON

Banyan Gold Corp. has satisfied its third year earn-in exploration expenditure commitment on the Aurex and McQuesten properties optioned from Victoria Gold Corp. and Alexco Resource Corp., respectively. In order to complete the third year commitments, Banyan will issue 750,000 shares to Victoria Gold and 400,000 shares to Alexco on or before Dec. 31, 2019.

Under the definitive agreements, Banyan can earn a 51-per-cent interest in both properties with staged expenditures and share payments over four years. The company also has the right to earn a 100-per-cent interest in the properties with additional expenditures and share payments (see the company's news releases dated May 25, 2017).

Tara Christie, president and chief executive officer, commented: "The 2019 exploration program has positioned Banyan to begin to unlock the value of the large Aurex-McQuesten land package. Results to date have expanded the known strike length of Airstrip zone mineralization to approximately 900 metres, 150 metres west and over 250 metres east with assays from additional holes still to come. Importantly, the new discovery at Powerline, located one kilometre to the south of Airstrip, was also followed up on with the phase 2 program, highlighting additional gold mineralization on the large Aurex-McQuesten property."

The properties are well located being intersected by a main Yukon government highway and power line, and also the all-season road that leads to Victoria Gold's Eagle mine. The Eagle mine, just 40 km away, completed its first pour on Sept. 17, 2019, and is expected to produce 220,000 ounces of gold per year at full capacity.

Issuance of stock options

The board of directors of the company announces the issuance of 4.25 million stock options to purchase 4.25 million shares at an exercise price of six cents cents per share, expiring five years from the date of the grant.

The stock options are being issued to consultants, directors and officers of the company in connection with the corporation's annual compensation review process. The options were granted under and are subject to the terms and conditions of the company's stock option plan.

About Aurex-McQuesten

The Aurex-McQuesten property is just 40 km from Victoria Gold Corp.'s Eagle gold mine and adjacent to Alexco Resource Corp.'s highly mineralized Keno Hill silver. The Airstrip and Powerline zones are located just off the main Yukon government highway between Mayo and Keno. The property has numerous historic exploration roads and trails and has cellphone coverage. The three-phase power line from the hydroelectric dam in Mayo passes through the property, as well as, the switching station and spur power line to Victoria Gold. There is an existing airstrip on the property and the Mayo airport is a 20-minute drive on the highway from the property.

Technical Information

The technical information in this news release has been reviewed and approved by Paul D. Gray, PGeo, a qualified person as defined by National Instrument 43-101.

About Banyan Gold Corp.

Banyan Gold is focused on gold exploration projects that have the geological potential, size of land package and proximity to infrastructure that is advantageous for a mineral project to have potential to become a mine. The company's Yukon-based projects both fit this model and the company's objective is to gain shareholder value by advancing projects in its pipeline.

We seek Safe Harbor.