Banyan Announces Updated Pit-Constrained Mineral Resource Estimate for Hyland Gold Project, Yukon, Canada
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Banyan Announces Updated Pit-Constrained Mineral Resource
Estimate for Hyland Gold Project, Yukon, Canada
October 27, 2025, TSX-V: BYN
VANCOUVER, BC, October 27, 2025 - Banyan Gold Corp. (the "Company" or "Banyan") (TSX-
V: BYN) (OTCQB: BYAGF) is pleased to announce an 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 Hyland Project (“Hyland” or
the “Project”), Yukon, Canada, an additional property to Banyan’s flagship Aurmac Property as
defined below in “about Banyan” . The updated MRE incorporates all drilling completed through
2018 and reflects the most current information available, as no further drilling has been completed
since then.
The updated MRE comprises an Indicated Mineral Resource of 337 thousand (“k”) ounces (“oz”)
of gold (“Au”) and 2.63 million (“M”) oz of silver (“Ag”) (11.3 M tonnes of ore at 0.93 g/t Au and
7.27 g/t Ag), and an Inferred Mineral Resource of 118k oz of Au and 0.86M oz Ag (3.9 M tonnes
of ore at 0.95 g/t Au and 6.94 g/t Ag) (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;
cut-off grade sensitivities for the Hyland deposit are presented in Table 2. The Hyland Project pit-
constrained MRE is contained in a single near/on-surface deposit. The deposit is accessible by
float plane and by ground via a winter road from Watson Lake with substantial drill and heavy
equipment on site (Figure 1).
“The updated, pit-constrained Mineral Resource demonstrates the potential of the Hyland Project
as a gold and silver project. Mineralization is still open along strike to the north and south as well
as at depth. With additional work, there is potential to delineate additional mineral resources in
the main zone, as well as define new resources in other portions of the property ,” stated Tara
Christie, President and CEO. “Work will continue in the off-season to update the geologic model
and refine targeting at the highly prospective Cuz and Montrose zones.”
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Figure 1. Plan Map Showing the location of the Hyland Project, Yukon, Canada.
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Table 1: Pit-Constrained Indicated and Inferred Mineral Resources – Hyland Project
Cut-off
Grade
(AuEq g/t)
Tonnes
Au Ag AuEq
Grade
(g/t) Ozs Grade
(g/t) Ozs Grade
(g/t) Ozs
Indicated
0.5 11,272,000 0.93 337,000 7.27 2,634,000 1.02 368,000
Inferred
0.5 3,865,000 0.95 118,000 6.94 863,000 1.03 128,000
Hyland Gold Project Main Zone Mineral Resource Estimate Notes:
(1) The effective date of the Hyland Mineral Resource Estimate is September 1, 2025.
(2) The mineral resource was estimated by Allan Armitage, Ph.D., P.Geo. of SGS Geological Services who is an
independent Qualified Person as defined by NI 43-101.
(3) The classification of the current Mineral Resource Estimate into Indicated and Inferred mineral resources is
consistent with current 2014 CIM Definition Standards - For Mineral Resources and Mineral Reserves.
(4) All figures are rounded to reflect the relative accuracy of the estimate and numbers may not add due to
rounding.
(5) The mineral resources are presented undiluted and in situ, constrained by a continuous 3D wireframe model,
and is considered to have reasonable prospects for eventual economic extraction.
(6) Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred
Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and
must not be converted to a Mineral Reserve.
(7) The Hyland mineral resource estimate is based on a validated database which includes data from surface
trenching, and surface diamond and RC drilling completed between 1987 and 2018.
(8) The MRE for Hyland is based on one three-dimensional (“3D”) resource model representing the deposit.
(9) Grades for Au and Ag were estimated for each mineralization domain using 1.5 metre drill core and 2.0 metre
channel composites assigned to that domain. To generate grade within the blocks, the inverse distance cubed
(ID2) interpolation method was used. An average SG value of 3.04 was used for tonnage calculation.
(10) Based on the location, surface exposure, size, shape, general true thickness, and orientation, it is envisioned
that Hyland may be mined using open -pit mining methods. In -pit mineral resources are reported at a base
case cut-off grade of 0.5 g/t AuEq. The in-pit resource grade blocks are quantified above the base case cut -
off grade, above the constraining pit shell, below topography and within the constraining mineralized domain
(the constraining volume).
(11) The pit optimization and base-case cut-off grade consider a gold price of $2,400/oz and a silver price of $28
/oz and considers a gold recovery of 92% and silver recovery of 70%. The pit optimization and base case cut-
off grade also considers a mining cost of US$2.40/t mined, pit slope of 55⁰ degrees, and processing, treatment,
refining, G&A and transportation cost of USD$19.50/t of mineralized material.
(12) The results from the pit optimization, using the pseudoflow optimization method in Whittle 2022, are used
solely for the purpose of testing the “reasonable prospects for economic extraction” by an open pit and do not
represent an attempt to estimate mineral reserves. There are no mineral reserves on the Project. The results
are used simply as a guide to assist in the preparation of a mineral resource statement and to select an
appropriate resource reporting cut -off grade. A Whittle pit shell at a revenue fa ctor of 1.00 was selected as
the ultimate pit shell for the purposes of the current MRE.
(13) The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title,
taxation, socio-political, marketing, or other relevant issues.
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A NI 43 -101 Technical Report supporting the updated Mineral Resource has been filed on
SEDAR+ at www.sedarplus.ca on the same day as this release. The pit outlines used to constrain
the MRE are shown in Figure 2.
Hyland Deposit
The drill data for Hyland is comprised of 86 drill holes (18,505.40 m) and 39 trenches (7,598.7 m).
Completion of the current MRE also included an updated three-dimensional (3D) mineral resource
model (resource domain; Figure 2).
Figure 2: Plan View distribution of surface drill holes and channels/trenches at the Main Zone of Hyland in
relation to the mineralized model shape (pink). Mineralization is open along strike both North and South
and at depth.
Mineralization at Hyland occurs in a slightly recumbent anticline developed along a regional
structural corridor known as the Quartz Lake Lineament which is cut by southeast-trending faults.
Gold and silver occur in quartz veins and breccias in quartzite, silicified zones in phyllite, and iron
sulphide and/or iron carbonate replacements zones in limestone.
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Table 2. Pit -Constrained Indicated and Inferred Mineral Resources at Various AuEq g/t Cut -off
Grades – Hyland Deposit
Cut-off
Grade
(AuEq
g/t)
Tonnes
Au Ag AuEq
Grade
(g/t) Ozs Grade
(g/t) Ozs Grade
(g/t) Ozs
Indicated
0.2 16,840,000 0.73 395,000 5.89 3,188,000 0.80 432,000
0.3 15,397,000 0.78 385,000 6.22 3,081,000 0.85 420,000
0.4 13,321,000 0.85 364,000 6.74 2,885,000 0.93 397,000
0.5 11,272,000 0.93 337,000 7.27 2,634,000 1.02 368,000
0.6 9,234,000 1.03 305,000 7.92 2,352,000 1.12 333,000
0.7 7,411,000 1.13 270,000 8.69 2,072,000 1.24 294,000
1.0 4,254,000 1.41 192,000 10.88 1,488,000 1.53 210,000
Inferred
0.2 4,866,000 0.82 128,000 6.29 985,000 0.89 139,000
0.3 4,488,000 0.87 125,000 6.55 944,000 0.94 136,000
0.4 4,166,000 0.91 122,000 6.72 900,000 0.99 133,000
0.5 3,865,000 0.95 118,000 6.94 863,000 1.03 128,000
0.6 3,159,000 1.05 107,000 7.73 786,000 1.14 116,000
0.7 2,594,000 1.15 96,000 8.57 715,000 1.25 104,000
1.0 1,565,000 1.39 70,000 11.00 554,000 1.52 77,000
Notes to Table 2:
1. The effective date of the Hyland Mineral Resource Estimate is September 1, 2025.
2. The mineral resource was estimated by Allan Armitage, Ph.D., P.Geo. of SGS Geological Services and is an
independent Qualified Person as defined by NI 43-101.
3. The classification of the current Mineral Resource Estimate into Indicated and Inferred mineral resources is
consistent with current 2014 CIM Definition Standards - For Mineral Resources and Mineral Reserves.
4. All figures are rounded to reflect the relative accuracy of the estimate and numbers may not add due to
rounding.
5. The mineral resources are presented undiluted and in situ, constrained by a continuous 3D wireframe model,
and is considered to have reasonable prospects for eventual economic extraction.
6. Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred
Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and
must not be converted to a Mineral Reserve.
7. The Hyland mineral resource estimate is based on a validated database which includes data from surface
trenching, and surface diamond and RC drilling completed between 1987 and 2018.
8. The MRE for Hyland is based on one three-dimensional (“3D”) resource model representing the deposit.
9. Grades for Au and Ag were estimated for each mineralization domain using 1.5 metre drill core and 2.0 metre
channel composites assigned to that domain. To generate grade within the blocks, the inverse distance cubed
(ID2) interpolation method was used. An average SG value of 3.04 was used for tonnage calculation.
10. Based on the location, surface exposure, size, shape, general true thickness, and orientation, it is envisioned
that Hyland may be mined using open -pit mining methods. In -pit mineral resources are reported at a base
case cut-off grade of 0.5 g/t AuEq. The in-pit resource grade blocks are quantified above the base case cut -
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off grade, above the constraining pit shell, below topography and within the constraining mineralized domain
(the constraining volume).
11. The pit optimization and base-case cut-off grade consider a gold price of $2,400/oz and a silver price of $28
/oz and considers a gold recovery of 92% and silver recovery of 70%. The pit optimization and base case cut-
off grade also considers a mining cost of US$2.40/t mined, pit slope of 55⁰ degrees, and processing, treatment,
refining, G&A and transportation cost of USD$19.50/t of mineralized material.
12. The results from the pit optimization, using the pseudoflow optimization method in Whittle 2022, are used
solely for the purpose of testing the “reasonable prospects for economic extraction” by an open pit and do not
represent an attempt to estimate mineral reserves. There are no mineral reserves on the Project. The results
are used simply as a guide to assist in the preparation of a mineral resource statement and to select an
appropriate resource reporting cut -off grade. A Whittle pit shell at a revenue fa ctor of 1.00 was selected as
the ultimate pit shell for the purposes of the current MRE.
13. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title,
taxation, socio-political, marketing, or other relevant issues.
Average width of the drill core sample intervals is 1.51m; the average width of the channel assay
samples is 3.10m. A composite length of 1.50m and 2.00 metres was chosen for the drill core
assay data and channel sample data, respectively.
No capping of high -grade composites was used in this MRE. Analysis of the composite data
indicates very few outliers within the database. Analysis of the spatial location of these samples
and the sample values proximal to them led the independent QP to bel ieve that the high values
were legitimate parts of the population and that the impact of including these high composite
values uncapped would be negligible to the overall resource estimate.
The estimation of gold grades into a block model was carried out with the inverse distance
squared (ID 2) interpolation method on uncapped composites with the resultant block model
comprised of a block size of 5m (easting) x 5m (northing) x 5m (elevation). Specific gravity was
estimated was based on 76 mineralized samples and 67 waste rock samples.
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Figure 1: Isometric view looking East Northeast: Mineral Resource Block Grades (upper) and Block Class (lower) for
the Main Zone at Hyland.
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Quality Assurance, Quality Control Measures and Data Verification
The reported work was completed using industry standard procedures, including a quality
assurance/quality control (“ QA/QC”) program consisting of the insertion of certified reference
materials, field duplicates and coarse blanks into the sample stream and utilizing certified
independent analytical laboratories for all assays. Additionally, historic QA/QC data and
methodology on the Hyland Project were reviewed and are summarized in the NI 43 -101
Technical Report. Based on a review of all possible information, the author of the Technical Report
is of the opinion that the database is of sufficient quality to be used for the current Indicated and
Inferred MRE.