Banyan Gold Corp. Announces Federal Funding Support and Stock Options Issuance

Banyan Gold Corp. (TSXV: BYN, OTCQB: BYAGF) has welcomed federal funding for studying the connection between the British Columbia and Yukon electrical grids. Natural Resources Canada declared conditional approval of $40 million on September 20, 2024. This funding aims to advance pre-feasibility for a high-voltage transmission line connecting the Yukon grid to British Columbia's North American grid.

The fund is provided through the Critical Minerals Infrastructure Fund, which will enhance Yukon's green energy capacity. Banyan’s AurMac project could benefit directly from this grid connection due to an existing powerline intersecting the project.

The Board of Directors has granted 400,000 stock options at an exercise price of $0.22 per share, with a vesting period of up to 18 months. These options, granted under the company’s stock option plan, have a five-year term and are allocated to directors, officers, consultants, and exploration staff.

The announcement was made by the Honourable Jonathan Wilkinson, with contributions from the Honourable Josie Osborne and the Honourable Ranj Pillai. Banyan President & CEO Tara Christie emphasized the importance of this funding for bringing additional green energy to Yukon and supporting the AurMac project.