BYN.V · 2025-07-08 12:00:00

Banyan Announces First Indicated Mineral Resources and Identifies High Grade Continuous Zones at its’ AurMac Project, Yukon, Canada

Resource Estimates

Banyan Announces First Indicated Mineral Resources and Identifies

High Grade Continuous Zones at its’ AurMac Project, Yukon, Canada

July 8, 2025, TSX-V: BYN

VANCOUVER, BC, July 8, 2025 - Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V:

BYN) (OTCQB: BYAGF) is pleased to announce the first Indicated Mineral Resources with the

updated Mineral Resource Estimate (the “ MRE” or the “ Mineral Resource ”) prepared in

accordance with National Instrument 43 -101, Standards for Disclosure for Mineral Projects (“NI

43-101”) for the AurMac Project (“AurMac” or the “Project”), Yukon Territory. The updated MRE

incorporates an additional 21,000 metres (“ m”) from 118 diamond drillholes collared within the

Airstrip and Powerline deposits of AurMac completed in 2024 (Figure 1) . AurMac is road

accessible and is transected by an existing transmission line of the Yukon’s power grid.

“Within the sensitivity table, the contiguous higher-grade zones are highlighted with 1.42 Moz of

Indicated Mineral Resources at 0.95 g/t (46.4 M tonnes) and 3.13 Moz of Inferred Mineral

Resources at an average gold grade of 0.98 g/t (99.2 M tonnes), at the 0.55 g/t gold cut off,”

stated Tara Christie, President and CEO. “This update achieved the primary objectives of last

year’s program, which were to convert over 2 million ounces into Indicated Mineral Resources

with a refined geological model and importantly identify near surface, high-grade areas.”

The updated MRE comprises an Indicated Mineral Resource of 2.274 million (“M”) ounces (“oz”)

of gold (“Au”) (112.5 M tonnes at 0.63 g/t) and an Inferred Mineral Resource of 5.453 Moz of Au

(280.6 M tonnes at 0.60 g/t ) (as defined in the Canadian Institute of Mining, Metallurgy and

Petroleum (“CIM”) Definition Standards for Mineral Resources & Mineral Reserves incorporated

by reference into NI 43-101). The updated MRE is summarized below in Table 1 (Figure 1). The

AurMac Project pit constrained MRE is contained in two near/on -surface deposits: The Airstrip

and Powerline deposits.

Table 1: Pit-Constrained Indicated and Inferred Mineral Resources – AurMac Project

Indicated MRE Inferred MRE

Deposit

Au Cut-Off

Grade

(g/t)

Tonnage

(Tonnes)

Gold

Grade

(g/t)

Gold

Content

(Oz)

Tonnage

(Tonnes)

Gold

Grade

(g/t)

Gold

Content

(oz)

Airstrip 0.30 27.7 0.69 0.611 10.1 0.75 0.245

Powerline 0.30 84.8 0.61 1.663 270.4 0.60 5.208

Total

Combined 0.30 112.5 0.63 2.274 280.6 0.60 5.453

Notes to Table 1:

1. The effective date for the MRE is June 28, 2025.

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.

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. 73 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 $2,050/ounce,

US$2.50/t mining cost, US$10.00/t processing cost, US$2.00/t G+A, 90% gold recoveries, and 45° pit slopes.1

5. The number of tonnes and ounces was rounded to the nearest thousand. Any discrepancies in the totals are

due to rounding effects.

Figure 1. Plan Map Showing the Mineral Resource Estimate and Drill Collar Locations

1 The gold price and cost assumptions are consistent with current pricing assumptions and costs and, in particular,

with those employed for recent technical reports for similar pit-constrained Yukon gold projects.

A technical report prepared in accordance with NI 43-101 supporting the updated Mineral

Resource (the "Technical Report") will be filed on SEDAR at www.sedarplus.ca within 45 days

of this release. The pit outlines used to constrain the MRE are shown in Figure 1. Additional

information on the AurMac Project and a 3-D visualization can be found at:

https://www.banyangold.com

Powerline Deposit

The drill data for the Powerline deposit is comprised of 1,043 drill holes, representing an increase

of 89 holes from the February 6, 2025 MRE (originally published in 2024).

A new geology model was developed at Powerline by the Banyan geology team for this mineral

resource update. The updated model uses lithologic units identified through geochemical

variations, to constrain mineralization. This new model differs from the extents of mineralized

envelopes previously used at Powerline; which Banyan Management feels is an improvement on

the original geologic model; refined and updated based on additional diamond drilling across the

Project.

Powerline mineralization is predominantly hosted in 1-3 (up to 25) cm-thick quartz veins. Veins in

Powerline associated with gold mineralization are discordant relative to stratigraphy and main

foliation, with an average of 14° toward an azimuth of 338° and are interpreted as younger, cross-

cutting features. Certain lithologic domains , which are favourable hosts for quartz veining , are

interpreted to act as a broad control on mineralization. Detailed analysis of structural and

geochemical controls on mineralization as well as interpretation of vein systems are ongoing

following infill drilling from 2024, with the goal of further refinement of the geologic model for

Powerline.

Figure 2: Long Section through Powerline MRE block model. Several continuous mineralized zones >1 g/t Au are present near

surface in the central and western portion of the deposit. Resource blocks are 10 m x 10 m x 5 m. Only blocks >0.3 g/t Au cutoff

and within the $2,050/oz Au pit shell are included in the MRE.

The most common sampling length of the Powerline deposit is 1.5 m, accounting for

approximately 20% of the sample data and is the composite length ; over 60% of samples are

equal to or below the composite length . Capping of high-grade outliers was carried out for each

mineralized zone and ranged from 1.7 g/t gold to 17.0 g/t gold.

The estimation of gold grades into a block model was carried out with the Ordinary Kriging (“OK”)

technique on capped composites with the resultant block model comprised of a parent block size

of 10 m (easting) x 10 m (northing) x 5 m (elevation) and a sub-block size of 1 m (easting) x 1 m

(northing) x 1 m (elevation). Density was calculated from a total of 12,563 measurements from

the drill core. The average density per lithology type was assigned to the corresponding blocks.

At a 0.30 g/t gold cut-off, the pit-constrained, Indicated Mineral Resources for Powerline are 84.8

million tonnes at an average gold grade of 0.6 1 g/t for a total of 1,663,000 ounces of gold and

Inferred Mineral Resources for Powerline are 270.4 million tonnes at an average gold grade of

0.60 g/t for a total of 5,208,000 ounces of gold. Cut-off grade sensitivities for the Powerline deposit

are presented in Table 2.

Table 2. Pit-Constrained Indicated and Inferred Mineral Resources – Powerline Deposit

Indicated MRE - Powerline Inferred MRE – Powerline

Au Cut-Off

Grade (g/t)

Tonnage

(Tonnes)

Gold Grade

(g/t)

Gold Content

(Oz)

Tonnage

(Tonnes)

Gold Grade

(g/t)

Gold Content

(oz)

0.05 231,640,645 0.32 2,405,516 1,032,259,114 0.26 8,728,416

0.10 192,538,290 0.37 2,308,963 781,124,091 0.32 8,136,844

0.15 157,033,478 0.43 2,165,911 582,100,032 0.39 7,354,974

0.20 127,533,445 0.49 2,000,944 444,533,601 0.46 6,588,651

0.25 104,035,379 0.55 1,832,958 344,740,385 0.53 5,863,255

0.30 84,805,464 0.61 1,663,201 270,449,131 0.60 5,208,389

0.35 69,672,238 0.67 1,505,289 212,061,104 0.68 4,602,097

0.40 57,562,113 0.74 1,360,238 171,279,758 0.75 4,113,558

0.45 47,903,250 0.80 1,227,480 139,241,117 0.82 3,675,375

0.50 40,063,877 0.86 1,109,040 116,590,672 0.89 3,328,647

0.55 33,827,467 0.92 1,003,835 94,271,177 0.97 2,952,085

0.60 28,470,259 0.99 904,356 77,465,386 1.06 2,642,494

0.65 24,066,935 1.06 816,327 66,669,747 1.13 2,426,421

0.70 20,573,232 1.12 740,157 56,934,605 1.21 2,214,893

0.75 17,538,790 1.19 669,895 48,691,460 1.29 2,022,583

0.80 15,104,216 1.25 608,957 42,015,950 1.38 1,857,410

0.85 13,155,783 1.32 557,472 36,783,461 1.45 1,718,340

0.90 11,456,051 1.38 509,756 32,326,323 1.53 1,593,270

0.95 10,111,629 1.45 469,764 28,980,449 1.60 1,493,584

1.00 8,983,837 1.50 434,411 26,064,344 1.67 1,401,954

Notes to Table 2:

1. The effective date for the MRE is June 28, 2025.

2. Mineral Resources, which are not M ineral 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 the classification of Inferred 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.

4. Mineral Resources are reported at a cut-off grade of 0.30 g/t gold, using a US$/CAN$ exchange rate of 0.73

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$2,050/ounce, US$2.50/t mining

cost, US$10.00/t processing cost, US$2.00/t G+A, 90% 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.

Airstrip Deposit

The Airstrip deposit is delineated by 151 drill holes, representing an increase of 12 drill holes from

the February 6, 2025 MRE (originally published in 2024). Topographic control was from a detailed

LIDAR survey dataset.

The Airstrip lithological model is comprised of eight (8) east-west striking units, with six (6) of the

units dipping at 35-40° to the south. Gold mineralization is predominantly hosted in two calcareous

metasedimentary packages (CAL1 and CAL2 in Figure 3) ; the upper unit is roughly 90 m-thick

east-west striking and dipping approximately 40° to the south, and a lower unit approximately 10

m thick with the same orientation as the upper unit. A felsic dyke intruded the country rock

(approximately 10 m-thick with several splays) and strikes approximately 080° and dips 60° to the

south. A zone of relatively high-grade gold mineralization is associated with the contact between

the calcareous metasediment and the felsic dyke; this zone is near-surface in the north of Airstrip

and is open along strike and up-dip, as well as at depth locally.

Figure 3: Cross Section through Airstrip (north) and Powerline (south) MRE block model. Several continuous mineralized zones

>1 g/t Au are present near surface in the Airstrip and Powerline Deposits. Mineralization is predominantly hosted in calcareous

metasedimentary units which are used to constrain the MRE block model. Resource blocks are 10 m x 10 m x 5m. Only blocks

>0.3 g/t Au cutoff and within the $2050/oz Au pit shell are included in the MRE.

The most common sampling length of the Airstrip deposit is 1.5 m accounting for approximately

35% of the sample data; all composites were constructed at this interval with >75% of all samples

equal to or below this length . Capping of high-grade outliers was based on lithological domains

and varied from 0.6 g/t gold to 15.0 g/t gold.

The estimation of gold grades into a block model was carried out with the OK technique on capped

composites and the resultant block model comprised of a block size of 10 m (easting) x 10 m

(northing) x 5 m (elevation) and sub-block size of 1m (easting) x 1 m (northing) x 1 m (elevation).

Density was calculated from a total of 12,563 measurements from the drill core. The average

density per lithology type was assigned to the corresponding blocks.

At a 0.30 g/t gold cut-off, the pit-constrained, Indicated Mineral Resources for the Airstrip deposit

are 27.7 million tonnes at an average gold grade of 0.69 g/t for a total of 611,000 ounces of gold

and Inferred Mineral Resources for the Airstrip deposit are 10.1 million tonnes at an average gold

grade of 0.75 g/t for a total of 245,000 ounces of gold. Cut-off grade sensitivities for the Airstrip

deposit are presented in Table 3.

Table 3: Pit-Constrained Indicated and Inferred Mineral Resources – Airstrip Deposit

Indicated MRE - Airstrip Inferred MRE - Airstrip

Au Cut-Off

Grade (g/t)

Tonnage

(Tonnes)

Gold Grade

(g/t)

Gold Content

(Oz)

Tonnage

(Tonnes)

Gold Grade

(g/t)

Gold Content

(oz)

0.05 58,263,499 0.41 775,511 27,691,134 0.37 325,846

0.10 51,106,468 0.46 759,117 21,263,806 0.45 310,376

0.15 44,602,068 0.51 732,769 17,436,442 0.53 295,433

0.20 38,707,557 0.56 699,396 14,430,644 0.60 278,837

0.25 33,105,080 0.62 658,834 12,144,908 0.67 262,394

0.30 27,711,879 0.69 611,197 10,148,564 0.75 245,039

0.35 23,260,845 0.76 564,629 8,798,848 0.82 230,838

0.40 19,746,911 0.82 522,504 7,573,318 0.89 216,217

0.45 16,849,539 0.89 483,219 6,497,179 0.96 201,369

0.50 14,372,513 0.96 445,452 5,524,451 1.05 186,674

0.55 12,531,274 1.03 414,171 4,953,325 1.11 177,089

0.60 10,934,051 1.10 384,934 4,503,924 1.17 168,697

0.65 9,617,878 1.16 358,388 4,055,092 1.23 159,708

0.70 8,495,462 1.22 334,045 3,652,682 1.29 151,023

0.75 7,525,408 1.29 311,386 3,374,339 1.33 144,505

0.80 6,730,351 1.35 291,688 3,092,595 1.38 137,511

0.85 5,989,662 1.41 272,104 2,726,248 1.46 127,707

0.90 5,417,534 1.47 256,041 2,461,875 1.52 120,310

0.95 4,878,704 1.53 239,987 2,170,044 1.60 111,699

1.00 4,402,694 1.59 225,064 1,997,616 1.66 106,292

Notes to Table 3:

1. The effective date for the MRE is June 28, 2025.

2. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The