Banyan Drilling Confirms High Grade Structural Controls and Grade Continuity at Powerline, AurMac Project

VANCOUVER, BC / ACCESSWIRE / November 4, 2024 / Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V:BYN)(OTCQB:BYAGF) is pleased to announce the latest analytical results from nineteen (19) diamond drillholes within the Powerline Deposit located on the Company's AurMac Project, Yukon Territory ("AurMac"). This set of holes was drilled in the north-central portion of the Powerline Deposit (See Figure 1) as part of the ongoing 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 g/t 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: 90.0m of 0.68 g/t Au from surface (13.5 m)

• AX-24-542: 154.1m 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 Au¹and 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 CEO. "The successful 2024 AurMac exploration program, combined with record high gold prices, have strategically positioned Banyan for a Resource update, Preliminary Economic Assessment ("PEA"); and, importantly, has provided clear exploration and definition drill targets for 2025."

1. ¹Banyan considers any assayed interval above the maximum Mineral Resource Estimate ("MRE") capping threshold of 11.00 g/t Au to be High Grade. (News Release: Feb 6, 2024, see About Banyan below)

Highlighted results of drillhole assays from this release are presented in Table 1, collar locations in Table 2 and Figure 1 identifies the drillhole locations.

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.

Highlighted instances of visible gold identified from Banyan's detailed logging of these drill holes are shown in Image 1.

Image 1: Photographs of visible gold from holes in this release:

Figure 1:AurMac drill hole locations, showing the location of historic and Banyan completed diamond drill holes used in the MRE (grey, black and blue dots) and collar locations of 2024 drilling (red, green and yellow dots; respectively).

Table 1: Highlighted Powerline Analytical Results.