Banyan Strengthens Technical Team with Appointments of Vice President of Exploration, Key Geological Positions and Independent Advisor
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Banyan Strengthens Technical Team with Appointments of Vice President of
Exploration, Key Geological Positions and Independent Advisor
February 25, 2025 TSX-V: BYN
VANCOUVER, BC, February 25, 2025 - Banyan Gold Corp . (the " Company"
or "Banyan") (TSX-V: BYN) (OTCQB: BYAGF) is pleased to announce the appointments
of Duncan MacKay to its management team as Vice President of Exploration. Banyan
also welcomes the appointment of Frank Wright as an independent Advisor on Metallurgy
and key senior positions with Kate Hudek as Database/GIS Manager and Keagan Parry
as Senior Geologist
"We are pleased to welcome these highly skilled professionals to the Banyan team. Their
extensive expertise will be instrumental in advancing our exploration efforts and unlocking
the full potential of our projects," stated Tara Christie, President & CEO of Banyan Gold
Corp. “These additions to our technical team, strengthen our ability to continue to grow
and refine our exploration strategy, advance AurMac towards development and deliver
our maiden Preliminary Economic Assessment in 2025."
Vice President of Exploration
Duncan Mackay, P.Geo., is an accomplished professional geologist with over 15 years of
experience in the mining and mineral exploration industry. Duncan has worked with
leading companies such as Yamana Gold and New Gold, holding key roles in 3D
modelling, project management, and exploration program design and execution. He has
extensive experience in exploration target generation and evaluation across numerous
styles of gold mineralization throughout the Americas and has worked in grassroots roles
through to mine exploration programs. His expertise extends to drill target generation, ore
trend interpretation, and resource estimation, having managed multi -drill programs in
remote locations during his time as a Project Geologist at Yamana Gold. With an M.Sc.
in Earth and Ocean Sciences from the University of Victo ria, Duncan’s strong technical
skills, leadership abilities, and commitment to safety have allowed him to make significant
contributions to various successful exploration projects.
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Database/GIS Manager
Kate Hudek is a dedicated professional geologist with 10 years of experience in
exploration, mining, and environmental consulting. Kate has extensive experience in GIS,
data administration, technical and professional writing and project support. Throughout
her career, she has held key positions, including QAQC and Database Coordinator at
Yamana Gold and Environmental Professional roles where she was responsible for
creating environmental reports, mana ging geological data, and implementing quality
assurance programs. Kate has also managed drill programs, contributed to geological
modeling, and developed site -specific policies. A registered Professional Geologist (P.
Geo) with a Bachelor of Science in Geological Sciences from the University of Manitoba,
Kate i s proficient in a variety of software tools. Kate is committed to advancing her
technical expertise and making impactful contributions to innovative projects that drive
progress and excellence in the geoscience field.
Senior Geologist
Keagan Parry has been a key member of the Banyan team since March 2021. Keagan's
career began with roles as a Junior Geologist, working on prominent projects like
Taseko’s Gibraltar Mine, the Coffee Gold Project with Goldcorp/Newmont, and the Eskay
Creek Project with Skeena Resources. He has a strong background in geological
modeling, geotechnical drilling, and field mapping. His technical expertise extends to 3D
geological and hydrological modeling and his field experience spans from overseeing drill
rigs to managing core logging and geochemical data analysis. In addition to his practical
experience, Keagan is pursuing an MSc. at the University of Alberta, focusing on
geological and mineralization characterization of the AurMac gold deposit and will be
joining Banyan full time in May with the completion of his degree. He holds a B.Sc. (Hons)
in Geological Sciences from the University of British Columbia, where he graduated with
distinction and completed a thesis on post -mineralization deformation in orogenic gold
deposits.
New Advisor
Frank Wright, P.Eng., is a seasoned professional with over 40 years of experience in
mineral processing, hydrometallurgy, and mine environmental consulting. As the principal
of F. Wright Consulting Inc. since 1998, he has worked with numerous mining companies,
offering his expertise in project management, process design, and technical reporting.
His extensive work includes overseeing laboratory programs, pilot plant installations, and
troubleshooting for mining projects, as well as conducting environmental studies to
address issues like acid rock drainage and cyanide destruction. Frank has served as an
independent Qualified Person (“QP”) for several NI 43 -101 technical reports, offering
valuable insights to junior and mid-tier mining companies. His recent projects include work
with Thesis Gold Inc., Freeman Gold Corp. and NorZinc Corp., where he has provided
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metallurgical consulting and assisted in developing economic evaluations and technical
reports. Holding a Bachelor of Science in Metallurgical Engineering from the University of
Alberta and a Bachelor of Business Administration from Simon Fraser University , Frank
has also been involved in business development, financing efforts, and served on
advisory panels for public mining companies.
Grant of Options
The Board of Directors of the Company have granted 1,100,000 stock options to purchase
1,100,000 shares at an exercise price of $0.25 per share with a vesting period of up to 18
months with a five-year term.
The stock options are being issued to employees, consultants, advisors and exploration
staff of the Company. The options were granted under and are subject to the terms and
conditions of the Company’s stock option plan.
Upcoming Events
• Tombstone Gold Rush Breakfast - Fireside Chat - Toronto, March 3, 2025
7:00 AM to 9 AM EST
7:30 AM to 9 AM EST Webinar
• PDAC, Toronto, March 2 – 5, 2025
o Exhibitor Booth No. 2213, March 2 – 3
• SMI Conference, Zurich, March 18 – 19, 2025
Qualified Persons
Paul D. Gray, P.Geo., 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. Mr. Gray is a consultant to Banyan and has verified the data
disclosed in this news release, including the sampling, analytical and test data underlying the
information.
About Banyan
Banyan's primary asset, the AurMac Project is located in Canada’s Yukon Territory. The current
inferred Mineral Resource Estimate (“MRE”) for the AurMac Project of 7.0 million ounces has an
effective date of February 6, 2024.
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The 173 square kilometres (“sq km”) AurMac Project lies 40 km from Mayo, Yukon. The
AurMac Project is transected by the main Yukon highway and benefits from a 3-phase
powerline, existing power station and cell phone coverage. Banyan has the right to earn up to a
100% interest, in both the Aurex and McQuesten Properties respectively, subject to certain
royalties.
The inferred MRE for the AurMac Project was prepared on February 6, 2024, and consisted
of 7,003,000 ounces of gold (see Table 1) hosted within near surface, road accessible pit
constrained Mineral Resources contained in two near/on-surface deposits: the Airstrip and
Powerline Deposits.
Table 1: Pit-Constrained Inferred Mineral Resources – AurMac Project
Deposit Gold Cut-Off
(g/t)
Tonnage
(Tonnes)
Average Gold
Grade (g/t)
Contained Gold
(oz.)
Inferred
Airstrip 0.30 35,243,000 0.75 845,000
Powerline 0.30 312,243,000 0.61 6,158,000
Total Combined 0.30 347,486,00 0.63 7,003,000
Notes:
1. The effective date for the MRE is February 6, 2024, and was prepared by Marc Jutras, P.Eng., M.A.Sc.,
Principal, Ginto Consulting Inc., an independent Qualified Person in accordance with the requirements of
NI43-101. The technical report supporting the Resource Estimate entitled “AurMac Property, Mayo Mining
District, Yukon Territory, Canada” (the “Technical Report”) has been filed on SEDAR at www.sedarplus.ca on
March 18, 2024.
2. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The
estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation,
sociopolitical, marketing, changes in global gold markets or other relevant issues.
3. The CIM Definition Standards were followed for classification of Mineral Resources. The quantity and grade
of reported Inferred Mineral Resources in this estimation are uncertain in nature and there has been insufficient
exploration to define these Inferred Mineral Resources as an Indicated Mineral Resource and it is uncertain if
further exploration will result in upgrading them to an Indicated or Measured Mineral Resource category.
4. Mineral Resources are reported at a cut-off grade of 0.30 g/t gold for all deposits, using a US$/CAN$ exchange
rate of 0.75 and constrained within an open pit shell optimized with the Lerchs -Grossman algorithm to
constrain the Mineral Resources with the following estimated parameters: gold price of US $1,800/ounce,
US$2.50/t mining cost, US$5.50/t processing cost, US$2.00/t G+A, 80% gold recoveries, and 45° pit slopes.
5. The number of tonnes and ounces was rounded to the nearest thousand. Any discrepancies in the totals are
due to rounding effects; rounding followed the recommendations as per NI 43-101.
In addition to the AurMac Pro ject, the Company holds the Hyland Gold Project, located 70 km
Northeast of Watson Lake, Yukon, along the Southeast end of the Tintina Gold Belt (the “Hyland
Project”). The Hyland Project represents a sediment hosted, structurally controlled, intrusion
related gold deposit, within a large land package (over 125 sq km), accessible by a network of
existing gravel access roads.
Banyan trades on the TSX -Venture Exchange under the symbol “ BYN” and is quoted on the
OTCQB Venture Market under the symbol “ BYAGF”. For more information, please visit the
corporate website at or contact the Company.
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ON BEHALF OF BANYAN GOLD CORPORATION
(signed) "Tara Christie"
Tara Christie
President & CEO
For more information, please contact:
Tara Christie • 778 928 0556 • [email protected]
Jasmine Sangria • 604 312 5610 • [email protected]
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange, its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) nor OTCQB Venture Market accepts responsibility for the
adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the
information contained herein.
FORWARD LOOKING INFORMATION: This news release contains forward -looking information, which is not
comprised of historical facts and is based upon the Company’s current internal expectations, estimates, projections,
assumptions and beliefs. Such information can generally be identified by the use of forwarding -looking wording such
as “may”, “will”, “expect”, “estimate”, “anticipate”, “intend(s)”, “believe”, “potential” and “continue” or the negative thereof
or similar variations. Forward-looking information involves risks, uncertainties and other factors that could cause actual
events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such
forward-looking information. Forward looking information in this n ews release includes, but is not limited to, the
Company’s plans for exploration; and statements regarding exploration expectations, ease and confidence in
increasing ounces, exploration or development plans and timelines; mineral resource estimates; mineral recoveries
and anticipated mining costs. Factors that could cause actual results to differ materially from such forward -looking
information include uncertainties inherent i n resource estimates, continuity and extent of mineralization, capital and
operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in
obtaining or failures to obtain required governmental, environm ental or other project approvals, political risks,
uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation,
changes in exchange rates, fluctuations in commodity prices, and the other risk s involved in the mineral exploration
and development industry, enhanced risks inherent to conducting business in any jurisdiction, timing and risk of earning
the final 25% earn-in on the properties and those risks set out in Banyan’s public documents filed on SEDAR. Although
Banyan believes that the assumptions and factors used in preparing the forward -looking information in this news
release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of
this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all.
Banyan disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of
new information, future events or otherwise, other than as required by law.