Banyan Extends Mineralization into the Airstrip–Powerline Gap at AurMac, Yukon, Intersects 1.34 g/t Au over 20.2 metres and 1.18 g/t Au over 27.5 metres
VANCOUVER, BC, October 28, 2026 – Banyan Gold Corp. (the “Company” or “Banyan“) (TSX-V: BYN) (OTCQB: BYAGF) is pleased to report results from six drillholes from the Airstrip Deposit (“Airstrip”) at its AurMac Project (“AurMac”), Yukon, Canada (Table 1). Drillhole AX-26-921 intersected high-grade gold (“Au”) in four discrete zones: 0.85 g/t Au over 28.9 metres (“m”), 1.34 g/t Au over 20.2 m, 1.89 g/t Au over 10.1 m, and 1.18 g/t Au over 27.5 m. These intersections highlight extensions of domains within the mineralized gap between the Airstrip and Powerline Deposits; mineralization is hosted in sulphide replacement of carbonaceous metasedimentary rocks down-dip of the main Airstrip domains. Other drillholes in this release (AX-26-904, -908, -909, -913 and -915) highlight extensions to higher-grade zones in central Airstrip.
Highlights from Airstrip:
AX-26-904 – 0.79 g/t Au over 14.1 m, including 25.70 g/t Au over 0.3 m
AX-26-908 – 7.11 g/t Au over 1.3 m within 0.62 g/t Au over 18.5 m
AND 2.97 g/t Au over 3.7 m
AX-26-909 – 0.69 g/t Au over 23.3 m
AX-26-913 – 0.82 g/t Au over 7.3 m
AX-26-915 – 0.96 g/t Au over 39.6 m
AX-26-921 – 0.85 g/t Au over 28.9 m, including 12.44 g/t Au over 1.2 m;
AND 1.34 g/t Au over 20.2 m; including 15.40 g/t Au over 0.6 m;
AND 1.89 g/t Au over 10.1 m, including 12.10 g/t Au over 0.8 m;
AND 1.18 g/t Au over 27.5 m, including 16.50 g/t Au over 1.4 m
Note: All highlighted intervals are downhole lengths; approximate calculated true widths are expressed as percentages of downhole interval lengths (see Table 2).
“This year’s program aims to pinpoint areas with high-grade mineralization, particularly where the current resource model shows unmineralized regions. Drillhole AX-26-921 produced significant high-grade intersections that suggest potential for expansion and improved grades between the Airstrip and Powerline Deposits,” stated Tara Christie, President and CEO. “Specifically, AX-26-921 returned several mineralized intervals, including 1.34 g/t Au over 20.2 m and 1.18 g/t Au over 27.5 m, indicating continuity of the higher-grade zones at depth in the Airstrip deposit below the gap. These results reinforce that expansion opportunities remain at AurMac, alongside the early discoveries at Nitra. Banyan’s next exploration phase will focus on identifying the prime areas within AurMac that will contribute to our initial 10-year grade and production profile, leading to further studies beyond our Preliminary Economic Assessment.”
Figure 1: Plan map of AurMac, Yukon, Canada. Results for drillholes AX-26-904, -908, -909, -913, -915 and -921 are reported in Table 1. A plan map of Airstrip (Figure 2) and cross-sections (Figures 3 and 4) show the detailed distribution of drillholes in Airstrip and the geometry of high-grade mineralization.
Figure 2: Plan map of Airstrip. Cross-sections are denoted by blue lines. Drillhole AX-26-921 in cross-section 466900mE (Figure 3) highlights the expansion potential for high-grade domains in the gap between the Airstrip and Powerline Deposits near the southern extent of the conceptual Mineral Resource Estimate (“MRE”) pit. Drillholes AX-26-904, -908, -909, and -915 in cross-section 467300mE (Figure 4) highlight the expansion potential for high-grade domains to the east in Airstrip.
Mineralization at Airstrip is predominantly hosted in calcareous metasedimentary rocks that readily undergo calc-silicate alteration and sulphide replacement mineralization (Figure 5). Calcareous metasedimentary rocks overlie quartzites. Domains Cal_1 and Cal_2 (calcareous metasedimentary rocks) are the primary host for gold mineralization at Airstrip, with extensional quartz veins hosted in the quartzite (“QTZT”). A notable zone of mineralization has been intersected in the footwall of Airstrip, with high-grade mineralization and visible gold (Figure 6) identified in extensional quartz veins hosted in quartzite stratigraphically below the main Airstrip deposit (Figure 3). Potential for footwall domains in the Airstrip area has been identified in previous drilling and is being tested this drill season.
Figure 3: Cross-section 466900mE through Airstrip. Drillhole AX-26-921 highlights potential expansion of high-grade domains in the gap zone between Airstrip and Powerline. Additional down-dip drilling is planned to further test the extent of high-grade mineralization at depth within and just south of the conceptual pit boundary. The MRE block model is constrained by mineralized and lithological domains. Mineral Resource blocks are 10 m x 10 m x 5 m. Only blocks above the 0.30 g/t Au cut-off and within the US$3,500/oz Au conceptual pit shell are included in the MRE.
Figure 4: Cross-section 467300mE through the eastern end of Airstrip at AurMac. Drillholes in this release demonstrate potential for improvement in grade in mineralized domains in the eastern end of Airstrip. The MRE block model is constrained by mineralized and lithological domains. Mineral Resource blocks are 10 m x 10 m x 5 m. Only blocks above the 0.30 g/t Au cut-off and within the US$3,500/oz Au conceptual pit shell are included in the MRE.
Figure 5: Intersections from drillhole AX-26-921 depicting sulphide replacement in high-grade intersections down-dip of main Airstrip zone (see cross-section in Figure 3).
Figure 6: Visible gold in extensional quartz veins from: Left – hole AX-26-921, from 265.1 m – gold associated with bismuth sulphosalts and arsenopyrite in an extensional quartz vein. Right – hole AX-26-913, from 176.3 m – gold associated with arsenopyrite in an extensional quartz vein.
Table 1: Intervals from Airstrip
| HOLE NUMBER | Depth From (m) | Depth To (m) | Au Interval (m) | Au Grade (g/t) |
| AX-26-904 | 16.1 | 30.2 | 14.1 | 0.79 |
| including | 29.9 | 30.2 | 0.3 | 25.70 |
| AX-26-908 | 5.9 | 8.4 | 2.5 | 0.55 |
| and | 12.4 | 19.3 | 6.9 | 0.84 |
| including | 15.9 | 19.3 | 3.4 | 1.06 |
| and | 47.8 | 66.3 | 18.5 | 0.62 |
| including | 61.9 | 63.2 | 1.3 | 7.11 |
| including | 61.9 | 62.2 | 0.3 | 15.00 |
| and including | 62.8 | 63.2 | 0.4 | 9.77 |
| and | 94.6 | 98.3 | 3.7 | 2.97 |
| including | 94.6 | 95.4 | 0.8 | 9.98 |
| and including | 95.8 | 96.8 | 1.0 | 2.32 |
| and | 136.6 | 137.2 | 0.6 | 1.35 |
| AX-26-909 | 20.4 | 92.5 | 72.1 | 0.49 |
| including | 20.4 | 21.6 | 1.2 | 1.07 |
| and including | 36.3 | 36.6 | 0.3 | 1.66 |
| and including | 47.4 | 50.9 | 3.5 | 2.71 |
| including | 47.4 | 47.7 | 0.3 | 11.60 |
| and including | 50.5 | 50.9 | 0.4 | 12.13 |
| and including | 69.2 | 92.5 | 23.3 | 0.69 |
| including | 90.1 | 91.1 | 1.0 | 3.26 |
| and | 208.7 | 211.5 | 2.8 | 0.87 |
| including | 210.2 | 211.5 | 1.3 | 1.24 |
| AX-26-913 | 33.2 | 80.2 | 47.0 | 0.26 |
| including | 33.2 | 34.2 | 1.0 | 1.08 |
| and including | 67.5 | 68.3 | 0.8 | 1.04 |
| and including | 79.8 | 80.2 | 0.4 | 2.65 |
| and | 96.0 | 103.3 | 7.3 | 0.82 |
| including | 102.6 | 103.3 | 0.7 | 5.33 |
| and | 118.9 | 121.3 | 2.4 | 1.86 |
| including | 118.9 | 120.2 | 1.3 | 2.72 |
| and | 145.0 | 145.9 | 0.9 | 3.29 |
| and | 176.2 | 176.5 | 0.3 | 6.47 |
| AX-26-915 | 4.7 | 32.2 | 27.5 | 0.31 |
| including | 21.1 | 22.2 | 1.1 | 1.19 |
| and | 49.6 | 89.2 | 39.6 | 0.96 |
| including | 49.6 | 50.4 | 0.8 | 2.58 |
| and including | 61.3 | 89.2 | 27.9 | 1.19 |
| including | 80.4 | 81.2 | 0.8 | 3.23 |
| and including | 85.0 | 85.3 | 0.3 | 31.20 |
| AX-26-921 | 85.7 | 114.6 | 28.9 | 0.85 |
| including | 86.8 | 98.2 | 11.4 | 0.58 |
| and including | 113.4 | 114.6 | 1.2 | 12.44 |
| including | 114.3 | 114.6 | 0.3 | 37.30 |
| and | 131.5 | 190.7 | 59.2 | 0.66 |
| including | 131.5 | 134.4 | 2.9 | 1.32 |
| and including | 145.8 | 157.3 | 11.5 | 0.45 |
| including | 156.9 | 157.3 | 0.4 | 3.19 |
| and including | 170.5 | 190.7 | 20.2 | 1.34 |
| including | 177.0 | 180.3 | 3.3 | 3.93 |
| including | 179.7 | 180.3 | 0.6 | 15.40 |
| and including | 189.4 | 190.7 | 1.3 | 7.26 |
| and | 217.7 | 227.8 | 10.1 | 1.89 |
| including | 217.7 | 224.2 | 6.5 | 2.72 |
| including | 222.4 | 223.2 | 0.8 | 12.10 |
| and | 244.0 | 271.5 | 27.5 | 1.18 |
| including | 244.0 | 245.4 | 1.4 | 16.50 |
| and including | 259.1 | 265.2 | 6.1 | 0.84 |
| including | 264.9 | 265.2 | 0.3 | 3.45 |
Note: Calculated true widths are approximate and vary by drillhole; see Table 2
Table 2: Collars for diamond drillholes in this release
| Hole ID | Easting (m) | Northing (m) | Elevation (m) | Length (m) | Azimuth | Dip | Calc. True Width (%) |
| AX-26-904 | 467330 | 7084045 | 791 | 138.7 | 163 | -81 | 70 |
| AX-26-908 | 467286 | 7083981 | 790 | 163.1 | 360 | -60 | 95 |
| AX-26-909 | 467275 | 7083932 | 788 | 225.6 | 1 | -60 | 95 |
| AX-26-913 | 466916 | 7083964 | 775 | 190.5 | 359 | -59 | 95 |
| AX-26-915 | 467304 | 7083939 | 790 | 166.1 | 7 | -51 | 90 |
| AX-26-921 | 466906 | 7083803 | 773 | 285.0 | 355 | -76 | 95 |
Analytical Method and Quality Assurance/Quality Control Measures
The reported work was completed using industry standard procedures and 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.
The Qualified Person reviewed the available QA/QC data and identified no material issues.
Standards, core duplicates and coarse blanks represented approximately 10% of samples submitted during the 2026 drilling program. Results were monitored as analytical data became available and were within the accuracy and precision thresholds established for the program.
Banyan personnel systematically logged and photographed all diamond drill core. HTW- and NTW-diameter core was split at Banyan’s core-processing facilities. One half was returned to the core box and the other was sealed in a poly bag with one part of a three-part sample tag. Banyan personnel or a dedicated expediter delivered samples to the Bureau Veritas (“BV”) preparation laboratory in Whitehorse or to AGAT Laboratories’ Geochemical Mining Division in Calgary (“AGAT”). Samples prepared by BV were shipped to its analytical laboratory in Vancouver, British Columbia. AGAT samples were prepared, pulverized and analyzed in Calgary, Alberta, or Thunder Bay, Ontario.
BV analyzed samples using four-acid digestion and either its MA-200 ICP-ES 45-element package or MA-250 ICP-ES/MS 59-element package, together with FA-450 50 g fire assay with an AAS finish for gold. Samples returning more than 10 g/t Au were reanalyzed by FA-550 fire assay with a gravimetric finish. High-grade samples containing documented visible gold were also analyzed by FS-652 metallic-screen fire assay. Silver overlimits were analyzed using MA-370, FA-550 or FA-501, as applicable. Bureau Veritas is accredited to ISO/IEC 17025:2017 under SCC File No. 15895.
AGAT analyzed samples using four-acid digestion and its 201-071 ICP-OES/ICP-MS 48-element package, together with 201-551 50 g fire assay with an AAS finish for gold. Samples returning more than 10 g/t Au were reanalyzed by 202-551 fire assay with a gravimetric finish. High-grade samples containing documented visible gold were also analyzed by 202-131 metallic-screen fire assay. Samples returning more than 100 g/t Ag were analyzed using 201-470. AGAT is accredited to ISO/IEC 17025:2017 under SCC File Nos. 151266 and 151083.
Eagle Mine Update
On October 22, 2026, PricewaterhouseCoopers Inc., in its capacity as Court-appointed receiver of Victoria Gold Corp. (the “Receiver”), announced that it had entered into a definitive subscription agreement with Gatsuurt Mining Inc. and Boroo Pte. Ltd. (together, “Boroo”) in respect of the Eagle Gold Mine, located approximately 40 kilometres from Banyan’s AurMac Project. The Receiver, the Government of Yukon, the First Nation of Na-Cho Nyäk Dun (“FNNND”) and Boroo have each provided updates on the proposed transaction. Boroo has indicated that it plans to invest over C$1.5 billion in environmental remediation, mine restart and future operations at the Eagle Gold Mine. Please refer to their respective websites for detailed information, including the Receiver’s sale process page at https://www.pwc.com/ca/en/services/insolvency-assignments/victoriagold/sale-process.html.
The proposed transaction remains subject to Court approval, which the Receiver intends to seek in early December 2026, and the satisfaction of certain closing conditions, including key agreements with the Government of Yukon and FNNND. Closing is targeted for on or about December 31, 2026.
Banyan recognizes the potential for a responsible restart to support Yukon’s economy, employment and mining sector, while emphasizing that environmental stewardship, accountability and meaningful engagement with First Nations and local communities must remain priorities. As Banyan advances AurMac, it remains committed to responsible development and building strong relationships to support sustainable benefits for Yukoners.
2026 Drilling Update
Drilling at AurMac is ongoing with 198 drillholes completed for more than 56,000 metres, with six drills turning. Assay results for 47 holes drilled in 2026 have been reported to date.
Qualified Person