Banyan Expands Indicated and Inferred Mineral Resource Estimate and Improves Grade at AurMac Deposit, Yukon, Canada
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Banyan Expands Indicated and Inferred Mineral Resource Estimate and
Improves Grade at AurMac Deposit, Yukon, Canada
May 19, 2026, TSX-V: BYN
VANCOUVER, BC, May 19, 2026 - Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V:
BYN) (OTCQB: BYAGF) is pleased to announce its new Mineral Resource Estimate (“ MRE” or
the “Mineral Resource”) prepared in accordance with the 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 42,000 metres (“ m”)
from 178 diamond drill holes within the Airstrip and Powerline deposits at AurMac (Figure 1). This
MRE will support the upcoming Preliminary Economic Assessment (“PEA”; expected second half
of 2026) with increases in total indicated and inferred mineral resources from the 2025 MRE.
Highlights:
• 2026 AurMac Mineral Resource update:
o Indicated 3.64 million (“M”) ounces (“oz”) of gold (“Au”) (167.3 M tonnes at 0.68
g/t Au);
o Inferred 4.98 M oz of gold (267.2 M tonnes at 0.58 g/t Au) (see notes; Table 1)
• A high-grade portion of the deposit at 0.55 g/t Au cut-off with an:
o Indicated Mineral Resource of 2.45 M oz at 1.00 g/t Au (75.9 M tonnes) and
o Inferred Mineral Resource of 2.72 M oz at 0.96 g/t Au (88.1 M tonnes) (Table 3);
• Indicated Mineral Resource grows 60% in contained ounces, with an Indicated grade
increase of 8%;
• Airstrip: Indicated Mineral Resource up 38% in contained ounces , Inferred Mineral
Resource up 65% in contained ounces with grade up 11% (Table 3);
• Strong conversion ratio across the deposit , specifically at Powerline where the
Indicated Mineral Resource now contains 2.80 M oz at 0.67 g/t Au (129.5 M tonnes), an
increase of 68% with a grade increase of 10% (Table 3);
• District Scale Potential (District defined by having potential for over 10 million
ounces), demonstrated at the 0.25 g/t Au cut-off with an:
o Indicated Mineral Resource of 3.93 Moz at 0.61 g/t Au, (200.0 M tonnes) and;
o Inferred Mineral Resource of at 5.72 M oz at 0.51 g/t Au (351.3 M tonnes) (Table
3);
• Growth Potential; the deposits remain open in all directions , particularly at depth;
70,000 m 2026 drill program ongoing with up to six drills, over 21,000 m completed to
date.
The updated MRE comprises an Indicated Mineral Resource of 3.64 million oz of gold (167.3 M
tonnes at 0.68 g/t Au) and an Inferred Mineral Resource of 4.98 M oz of Au (267.2 M tonnes at
0.58 g/t Au) (as defined in the 2014 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. The AurMac Project pit -
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constrained MRE is contained in two near/on -surface deposits: The Airstrip and Powerline
deposits. This new MRE exceeds the objectives set out for the 2025 diamond drill campaign at
Banyan.
"This is an important achievement for Banyan and our shareholders. More ounces, more indicated
ounces, and a higher overall grade, demonstrating consistent performance across all metrics .
AurMac is growing in size, confidence, and quality. With th e updated Mineral Resource report
completed, the focus now shifts to the forthcoming maiden PEA, which will showcase the
economic potential of AurMac," stated Tara Christie, President and CEO. “With reference to the
grade sensitivity table, with a cut-off of 0.55 g/t Au, contiguous higher-grade cores of the deposit
are highlighted by an Indicated Mineral Resource of 2.45 Moz Au at 1.00 g/t Au and Inferred
Resource of 2.72 Moz Au at 0.96 g/t Au (Table 3). Indicated ounces increased by 60% over the
2025 MRE with an overall grade increase of 8%, for a total of 3.64 Moz at 0.68 g/t Au . This
increase in Indicated Mineral Resource, coupled with improved overall grade , delivers on a
mineral resource that is expected to support a strong Preliminary Economic Assessment in the
second half of the year . It also highlights the refined geologic and mineralized domain model to
support exploration and economic assessment of the AurMac deposit. The Inferred Mineral
Resource now stands at 4.98 Moz Au at 0.58 g/t Au, indicating overall growth of approximately
12% in the AurMac Project.”
Gold sensitivity estimations are compiled in Table 3. The relatively small change in total ounces
at higher gold prices ($3400-3600/oz) highlights the potential for additional expansion on the
edges of the deposit and below the conceptual pit . The current Mineral Resource is primarily
limited by the extent of drilling and the deposit remains open in most directions and at depth.
1: Pit-constrained Indicated and Inferred Mineral Resources - AurMac Project
Cut-off
Grade Tonnes Gold Grade
Contained
Gold
(Au g/t) (M Tonnes) (g/t) (M Oz)
Indicated MRE
Airstrip 0.30 37.7 0.69 0.840
Powerline 0.30 129.5 0.67 2.799
Combined 0.30 167.3 0.68 3.639
Inferred MRE
Airstrip 0.30 15.1 0.84 0.405
Powerline 0.30 252.1 0.57 4.580
Combined 0.30 267.2 0.58 4.985
Notes to Table 1:
1. The effective date for the MRE is May 15, 2026
2. The Mineral Resource Estimate was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal,
Ginto Consulting Inc., who is an independent Qualified Person as defined by NI 43-101.
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3. Mineral Resources which are not Mineral Reserves do not have demonstrated economic
viability. The estimate of Mineral Resources may be materially affected by environmental,
permitting, legal, title, taxation, sociopolitical, marketing, changes in global go ld markets
or other relevant issues.
4. The 2014 CIM Definition Standards were followed for classification of Mineral Resources.
The quantity and grade of reported Inferred Mineral Resources in this estimation are
uncertain in nature and there has been insufficient exploration to define these Inferred
Mineral Resources as an Indicated Mineral Resource. It is reasonably expected that the
majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources
with continued exploration.
5. Mineral Resources are reported at a cut-off grade of 0.30 g/t gold for all deposits, using a
US$/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 fo llowing
estimated parameters: gold price of US$3,500/ounce, US$2.75/t mining cost, US$11.50/t
processing cost, US$2.00/t G+A, 90% gold recoveries, and 45° pit slopes.
6. The number of tonnes was rounded to the nearest hundred thousand and ounces 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. Cross and long sections denoted
by blue lines
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Table 2: Highlighted 0.55 g/t Au cut-off Sensitivity of Pit-constrained Indicated and Inferred Mineral Resources -
AurMac Project
Cut-off Grade Tonnes Gold Grade
Contained
Gold
(Au g/t) (M Tonnes) (g/t) (M Oz)
Indicated MRE
Airstrip 0.55 17.1 1.04 0.572
Powerline 0.55 58.8 0.99 1.876
Combined 0.55 75.9 1.00 2.449
Inferred MRE
Airstrip 0.55 7.0 1.33 0.300
Powerline 0.55 81.1 0.928 2.418
Combined 0.55 88.1 0.96 2.718
Notes: Refer to notes in Table 1 and 3, which provides an excerpt from Table 2 to illustrate the
sensitivity of the Mineral Resources at a 0.55 g/t cut-off grade.
Figure 2: Graphical Representation of Table 3: Sensitivity to Cut-off Grade of Pit Constrained Indicated and Inferred
Mineral Resources for AurMac Deposit (Powerline and AirStrip.).
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.
0.37
0.46
0.54
0.61 0.68 0.74 0.81 0.87 0.94 1.00 1.07 1.13 1.20 1.26 1.33 1.40 1.46 1.53 1.59
0.29
0.36
0.43
0.51
0.58
0.66
0.74
0.81 0.88
0.96 1.03 1.10
1.17 1.23 1.29 1.36 1.42
1.50 1.55
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
1.60
1.80
2.00
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45 0.50 0.55 0.60 0.65 0.70 0.75 0.80 0.85 0.90 0.95 1.00
Au Grade (g/t)
Au Ounces
Cut-Off Grade (g/t)
Indicated and Inferred Au Ounces and Grade by Cut-Off Grade (g/t)
Indicated Oz Inferred Oz Indicated Grade (g/t Au) Inferred Grade (g/t Au)
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Table 3: Pit-Constrained Indicated and Inferred Mineral Resources for AurMac; Grade Sensitivities are presented for
Indicated and Inferred Mineral Resources for Airstrip, Powerline, and combined.
AIRSTRIP AIRSTRIP
INDICATED MRE - $3500 USD PIT INFERRED MRE - $3500 USD PIT
Au Cutoff Tonnage Au Grade Au Content Au Cutoff Tonnage Au Grade Au Content
g/t tonnes g/t Oz g/t tonnes g/t oz
0.05 122,691,685 0.304 1,199,167 0.05 55,353,720 0.319 567,713
0.10 85,062,654 0.406 1,110,340 0.10 35,914,865 0.452 521,920
0.15 65,579,805 0.490 1,033,135 0.15 26,747,586 0.565 485,874
0.20 53,927,495 0.558 967,465 0.20 21,890,912 0.652 458,883
0.25 44,879,075 0.626 903,253 0.25 18,107,950 0.742 431,981
0.30 37,723,361 0.693 840,494 0.30 15,080,859 0.836 405,344
0.35 31,798,948 0.761 778,016 0.35 12,677,891 0.933 380,294
0.40 26,772,697 0.834 717,876 0.40 10,940,814 1.021 359,142
0.45 22,953,116 0.902 665,640 0.45 9,441,009 1.116 338,746
0.50 19,725,566 0.972 616,434 0.50 7,967,230 1.234 316,092
0.55 17,119,311 1.040 572,414 0.55 7,030,653 1.329 300,408
0.60 14,813,889 1.113 530,097 0.60 6,264,045 1.421 286,180
0.65 12,936,462 1.184 492,446 0.65 5,732,615 1.495 275,540
0.70 11,432,759 1.251 459,832 0.70 5,082,464 1.601 261,611
0.75 10,133,467 1.318 429,402 0.75 4,652,899 1.681 251,468
0.80 9,040,440 1.384 402,269 0.80 4,400,150 1.734 245,306
0.85 8,080,980 1.451 376,984 0.85 4,158,681 1.786 238,797
0.90 7,243,821 1.517 353,301 0.90 3,867,924 1.855 230,682
0.95 6,491,258 1.586 330,996 0.95 3,542,294 1.940 220,942
1.00 5,869,897 1.651 311,579 1.00 3,323,017 2.004 214,102
POWERLINE POWERLINE
INDICATED MRE - $3500 USD PIT INFERRED MRE - $3500 USD PIT
Au Cutoff Tonnage Au Grade Au Content Au Cutoff Tonnage Au Grade Au Content
g/t tonnes g/t Oz g/t tonnes g/t oz
0.05 478,633,822 0.278 4,277,984 0.05 1,369,335,535 0.213 9,377,357
0.10 336,380,817 0.364 3,936,621 0.10 924,753,649 0.280 8,324,824
0.15 245,408,748 0.454 3,582,093 0.15 638,700,600 0.350 7,187,144
0.20 190,291,277 0.535 3,273,133 0.20 453,159,131 0.423 6,162,857
0.25 155,149,872 0.606 3,022,839 0.25 333,211,781 0.494 5,292,225
0.30 129,539,582 0.672 2,798,741 0.30 252,108,367 0.565 4,579,591
0.35 109,617,783 0.735 2,590,355 0.35 190,905,638 0.643 3,946,578
0.40 92,954,980 0.800 2,390,857 0.40 150,528,410 0.715 3,460,314
0.45 79,205,169 0.865 2,202,727 0.45 120,567,668 0.787 3,050,679
0.50 67,942,379 0.930 2,031,490 0.50 100,104,471 0.851 2,738,886
0.55 58,789,306 0.993 1,876,889 0.55 81,059,513 0.928 2,418,482
0.60 51,071,373 1.056 1,733,933 0.60 68,527,129 0.992 2,185,572
0.65 44,502,077 1.120 1,602,468 0.65 58,164,344 1.058 1,978,488
0.70 38,986,778 1.183 1,482,836 0.70 49,743,184 1.123 1,795,992
0.75 34,214,685 1.247 1,371,734 0.75 43,143,773 1.184 1,642,331
0.80 30,051,709 1.312 1,267,634 0.80 37,810,261 1.242 1,509,810
0.85 26,435,204 1.379 1,172,028 0.85 32,768,661 1.306 1,375,919
0.90 23,410,073 1.444 1,086,828 0.90 28,975,528 1.363 1,269,750
0.95 20,760,418 1.510 1,007,869 0.95 24,836,771 1.436 1,146,676
1.00 18,514,398 1.575 937,521 1.00 22,498,464 1.484 1,073,440
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AIRSTRIP+POWERLINE AIRSTRIP+POWERLINE
INDICATED MRE - $3500 USD PIT INFERRED MRE - $3500 USD PIT
Au Cutoff Tonnage Au Grade Au Content Au Cutoff Tonnage Au Grade Au Content
g/t tonnes g/t Oz g/t tonnes g/t oz
0.05 601,325,507 0.283 5,477,151 0.05 1,424,689,255 0.217 9,945,070
0.10 421,443,471 0.372 5,046,961 0.10 960,668,514 0.286 8,846,744
0.15 310,988,553 0.462 4,615,228 0.15 665,448,186 0.359 7,673,018
0.20 244,218,772 0.540 4,240,598 0.20 475,050,043 0.434 6,621,740
0.25 200,028,947 0.610 3,926,092 0.25 351,319,731 0.507 5,724,205
0.30 167,262,943 0.677 3,639,235 0.30 267,189,226 0.580 4,984,934
0.35 141,416,731 0.741 3,368,371 0.35 203,583,529 0.661 4,326,872
0.40 119,727,677 0.808 3,108,733 0.40 161,469,224 0.736 3,819,456
0.45 102,158,285 0.873 2,868,366 0.45 130,008,677 0.811 3,389,425
0.50 87,667,945 0.939 2,647,924 0.50 108,071,701 0.879 3,054,978
0.55 75,908,617 1.004 2,449,303 0.55 88,090,166 0.960 2,718,891
0.60 65,885,262 1.069 2,264,030 0.60 74,791,174 1.028 2,471,753
0.65 57,438,539 1.134 2,094,913 0.65 63,896,959 1.097 2,254,028
0.70 50,419,537 1.198 1,942,668 0.70 54,825,648 1.167 2,057,603
0.75 44,348,152 1.263 1,801,137 0.75 47,796,672 1.232 1,893,799
0.80 39,092,149 1.329 1,669,903 0.80 42,210,411 1.293 1,755,115
0.85 34,516,184 1.396 1,549,011 0.85 36,927,342 1.360 1,614,715
0.90 30,653,894 1.461 1,440,129 0.90 32,843,452 1.421 1,500,431
0.95 27,251,676 1.528 1,338,865 0.95 28,379,065 1.499 1,367,617
1.00 24,384,295 1.593 1,249,101 1.00 25,821,481 1.551 1,287,542
Notes to Table 3:
1. The effective date for the MRE is May 15, 2026
2. The Mineral Resource Estimate was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal,
Ginto Consulting Inc., who is an independent Qualified Person as defined by NI 43-101.
3. 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 go ld markets
or other relevant issues.
4. The 2014 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. It is reasonably expected that the
majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources
with continued exploration.
5. 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 fo llowing
estimated parameters: gold price of US$3,500/ounce, US$2.75/t mining cost, US$11.50/t
processing cost, US$2.00/t G+A, 90% gold recoveries, and 45° pit slopes.
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Table 4: Gold price sensitivity estimations at a 0.30 g/t Au cut-off grade for the 2026 MRE at AurMac
AIRSTRIP+POWERLINE MRE - 0.3 g/t Au CUT-OFF
INDICATED
Constraint Tonnage Au Grade Au Content
tonnes g/t oz
2025 MRE $2050 Pit 112,517,343 0.629 2,274,397
2026 MRE $3000 Pit 165,031,142 0.679 3,602,156
2026 MRE $3200 Pit 165,930,681 0.678 3,616,438
2026 MRE $3400 Pit 166,983,620 0.677 3,633,120
2026 MRE $3500 Pit 167,262,943 0.677 3,639,235
2026 MRE $3600 Pit 167,325,492 0.677 3,640,594
2026 MRE $4500 Pit 168,245,262 0.675 3,651,697
INFERRED
Constraint Tonnage Au Grade Au Content
tonnes g/t Oz
2025 MRE $2050 Pit 280,597,695 0.604 5,453,428
2026 MRE $3000 Pit 241,145,718 0.594 4,602,103
2026 MRE $3200 Pit 253,840,157 0.587 4,791,122
2026 MRE $3400 Pit 261,348,581 0.584 4,903,460
2026 MRE $3500 Pit 267,189,226 0.580 4,984,934
2026 MRE $3600 Pit 269,420,190 0.579 5,017,255
2026 MRE $4500 Pit 279,242,668 0.575 5,165,589
Notes: Refer to notes in Table 1 and 3, which provides an excerpt from Table 2 to illustrate the
sensitivity of the Mineral Resources at a 0.55 g/t cut-off grade.
Airstrip Deposit
The Airstrip deposit is delineated by 243 drillholes, representing an increase of 92 drillholes from
the June 28, 2025 MRE. Topographic control was from a detailed LIDAR survey dataset.
A total of ten (10) domains were used in the MRE and block model generation for Airstrip. Three
(3) discrete mineralized domains (AST_1, CAL_2, and QTZT_Domains) based on lithology,
structural controls and other geological features were used as the primary constraint for the MRE
(Figure 3). The Airstrip lithological model underpins the mineralized domains and is comprised of
seven (7) east-west striking units, with five (5) 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
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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.
At a 0.30 g/t gold cut-off, the pit-constrained, Indicated Mineral Resources for the Airstrip deposit
are 37.7 million tonnes at an average gold grade of 0.69 g/t for a total of 840,000 ounces of
gold and Inferred Mineral Resources for the Airstrip deposit are 15.1 million tonnes at an average
gold grade of 0.84 g/t for a total of 405,000 ounces of gold. Cut-off grade sensitivities for the
Airstrip deposit are presented in Table 3.
Figure 3: Cross-section 466750mE across the Airstrip and Powerline deposits at AurMac . Mineralized domains are
overlaid on the lithologic model. The MRE block model is constrained by mineralized domains and the lithologic
domains. Mineral Resource blocks are 10m x 10m x 5m. only blocks >0.30 g/t au cutoff and within the $3500/oz Au
conceptual pit shell are included in the MRE.
Powerline Deposit
The drill data for the Powerline deposit is comprised of 680 diamond drillholes, representing an
increase of 80 holes from the June 28, 2025 MRE.
An upgraded geology model was developed at Powerline by the Banyan geology team for this
Mineral Resource update. Similar to the Airstrip model, this model update uses detailed lithologic,
structural, and other geological controls to define discrete mineralized domains within the broad
lithologic units used in the 2025 MRE (Figure 3).
Powerline mineralization is predominantly hosted in 1 -3 (up to 25) cm -thick quartz veins which
cross-cut lithology. Rheologic contrast (silicification/alteration prep) is the main control on vein
emplacement. Certain lithologic domains, which are favourable hosts for quartz veining, are
interpreted to act as a broad control on mineralization. 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 (Figure 4).