Banyan Closes $530,000 Non-Brokered Private Placement
BANYAN CLOSES $530,000 NON-BROKERED PRIVATE PLACEMENT
December 21, 2017 TSX-V: BYN
BANYAN GOLD CORP. (“Banyan” or “The Company”), announces that subject to TSX Venture
Exchange (“TSX”) final approval, it has completed a non -brokered private placement for $ 530,000 in
gross proceeds by issuing a total of 5,300,000 shares.
The private p lacement consists of 5,300,000 flow-through shares (within the meaning of the Income
Tax Act (Canada)) priced at $0.10 per share. Net proceeds will be use d on the Company’s Hyland
Gold and Aurex - McQuesten Projects.
The shares issued will be subject to the customary four month plus one day hold period from the date
of TSX approval.
A commission of $18,000 will be paid on part of the funds raised.
Directors and Officers have participated for $120,000 consisting of 1,200,000 shares in this financing.
Technical Information
The technical information in this news release has been reviewed and approved by Paul D. Gray,
P.Geo., a Qualified Person as defined by NI 43-101.
About Banyan Gold
Banyan is a growth stage gold exploration company whose flagship property, the Hyland Gold Project,
is located approximately 70km NE of Watson Lake, Yukon, along the southeast end of the Tintina
Gold Belt.
The Hyland Main Zone Inferred Gold Resource Estimate, prepared in accordance with NI 43 -101, at a
0.6g/t gold equivalent cutoff, contain s 12,503,994 tonnes with 361,692 ounces gold at 0.9g/t and
2,248,948 ounces silver at 5.59g/t for a combined gold a nd silver 396,468 ounces gold equivalent at
0.99g/t.
The 9,230 ha Aurex -McQuesten Property, in close proximity to Victoria Gold's Eagle Project and
Alexco Resou rce's Keno Hill Silver District, is highly perspective for structurally controlled, intrusion
related gold -silver mineralization in relation to quartz monzonite dykes of the Tombstone intrusive
suite.
Banyan trades on the TSX -Venture Exchange under the s ymbol “BYN”. For more information, please
visit the corporate website at www.BanyanGold.com or contact the Company.
ON BEHALF OF BANYAN GOLD CORPORATION
(signed) "Tara Christie"
Tara Christie
President & CEO
For more information, please contact:
Tara Christie David Rutt
Tel: (888) 629-0444 Tel: (888) 629-0444
Email: [email protected] Email: [email protected]
CAUTIONARY STATEMENT: The TSX Venture Exchange does not accept 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. This news release contains forward-looking information, which is not comprised of historical
facts. 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 news release includes, but is not limited to, Banyan’s objectives, goals or
future plans, statements regarding exploration expectations, exploration or development plans and the timing of negotiating
the definitive agreements. Factors that could cause actual results to differ materially from such forward-looking information
include, but are not limited to, uncertainties inherent to preparing a resource estimate within expected timeline, capital and
operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or
failures to obtain required governmental, environmental 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, delays in the development of projects and the other risks involved in the mineral exploration
and development industry, enhanced risks inherent to conducting business in any jurisdiction, 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. Paul D.
Gray of Banyan Gold Corp. is a “qualified person” within the meaning of such term as set forth in National Instrument 43-101
of the Canadian Securities Administrators, and has verified and supervised the preparation of all of the scientific and
technical information contained in this news release.
Statements in this news release regarding Banyan Gold which are not historical facts are “forward -looking statements” that
involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as
“may”, “will”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations.