Banyan Intersects 1.02 g/t gold over 34.8 metres at Aurex Hill Deposit, Aurmac Property, Yukon

VANCOUVER, BC / ACCESSWIRE / January 10, 2023 / Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF) is pleased to announce the analytical results from the next thirty-seven (37) diamond drill holes received - all holes were collared during the Company's 2022 exploration program at the Powerline and Aurex Hill deposits located on the Company's AurMac Property, Yukon Territory.

Assay highlights from this most recent batch of assays received include:

• 62.2 metres ("m") of 0.59 g/t Au from 269.5 m in DDH AX-22-306
• 32.5 m of 0.69 g/t Au from 52.4 m in DDH AX-22-312
• 45.4 m of 0.57 g/t Au from 115.8 m in DDH AX-22-321
• 47.7 m of 0.70 g/t Au from 47.7 m in DDH AX-22-323
• 46.9 m of 0.65 g/t Au from 149.4 m in DDH AX-22-333
• 66.5 m of 0.36 g/t Au from surface (4.6 m) in DDH AX-22-341
• 34.8 m of 1.02 g/t Au from 153.9 m in DDH AX-22-346
• 42.9 m of 0.80 g/t Au from 100.0 m in DDH AX-22-354
• 63.8 m of 0.69 g/t Au from 160.2 m in DDH AX-22-357
• 55.5 m of 0.45 g/t Au from 121.9 m in DDH AX-22-358
• 144.8 m of 0.30 g/t Au from 12.2 m in DDH AX-22-360
• 143.2 m of 0.31 g/t Au from 18.3 m in DDH AX-22-362

"2022 drill results continue to expand the extent of near/on-surface gold mineralization at the Powerline and Aurex Hill Deposits," stated Tara Christie, President & CEO of Banyan. "Both deposits remain open and these most recent results received have demonstrated two notable mineralized trends in Aurex Hill."

Results from this set of thirty-seven (37) 2022 drill holes are consistent with previous exploration drill results at the Powerline and Aurex Hill Deposits (see Tables 1-2 and Figures 1-2) and the areal extent of interpreted gold mineralization continues to be confirmed and expanded with each batch of assay results received.

The Powerline and Aurex Hill gold deposits are 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. A strong bismuth-gold association has been identified at AurMac and is currently being utilized to establish exploration vectors over the property.

Highlighted instances of visible gold identified from these holes is shown in Image 1.

Image 1: Photographs of visible gold from:

Figure 1: Aurex Hill Drill Hole Locations, showing historic and Banyan completed diamond drill holes.

Figure 2: West Powerline Drill Hole Locations, showing historic and Banyan completed diamond drill holes.

Table 1: Highlighted Powerline and Aurex Hill Diamond Drill Analytical Results. (Maps, sections and full assay results will be made available on Banyan's website).