Banyan GOLD Announces Results from Annual General Meeting of Shareholders
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BANYAN GOLD ANNOUNCES RESULTS FROM ANNUAL GENERAL
MEETING OF SHAREHOLDERS
April 1, 2022 TSX-V: BYN | OTCQB: BYAGF
VANCOUVER, BC, April 1, 2022 – Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:
BYN) (OTCQB: BYAGF) announces that all resolutions set out in the management proxy circular
for Banyan’s 2022 annual general meeting of shareholders held on March 31, 2022 (the
“Meeting”) were passed.
All director nominees (Tara Christie, David Reid, Steve Burleton and Marc Blythe) have been re-
elected to serve for the coming year. The following resolutions were also approved:
• Fixing the Number of Directors;
• Reappointing Geib & Company Chartered Accountants as auditor; and
• Reapproving the share option plan
A total of 56,152,197 common shares representing 24.78% of the outstanding common shares
were represented in person or by proxy at the Meeting.
With the conclusion of the annual meeting, Mark Ayranto is no longer a Director and Chairman of
the Board of Directors, having not run for re-election due to other responsibilities.
“On behalf of our Board and management team, we wish to thank Mr. Ayranto for his service and
commitment to the Company,” stated Tara Christie, President and CEO . “As one of the original
co-founders of the Company , we greatly appreciate the expertise, insight, and leadership that
Mr. Ayranto provided through the acquisition, growth and development of the Company’s
exploration projects. I thank Mr. Ayranto on behalf of the team and wish him all the best in the
future.”
Further details on the matters considered at the Meeting can be found in Banyan’s management
proxy circular, which is available on the Company website at www.banyangold.com or on SEDAR
at www.sedar.com.
Upcoming Events
Banyan will be attending:
● Mines & Money Connect – April 5-7, 2022
● Vancouver Resource Investment Conference – May 16 & 17, 2022
o Booth and Presentation
● PDAC 2022 – June 13-15, 2022
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All events are subject to change.
2022 Exploration Program Update
Banyan started its 2022 exploration program on January 26, 2022 and has three drills operating
on the property. Forty-Two (42) drill holes and over 9,200 metres ( “m”) of drilling has been
completed of the planned 30,000 m drill program.
COVID-19 Update
Banyan continues to take proactive measures to protect the health and safety of our Yukon
communities, our contractors and our employees from COVID 19 . Exploration activities will
continue to have additional safety measures in place, regularly updated to follow and exceed all
the recommendations of Yukon’s Chief Medical Officer.
About Banyan
Banyan's primary asset, the AurMac Property is comprised of the Aurex and McQuesten
properties, as well as claims staked and owned 100% by Banyan Gold, and adjacent to Victoria
Gold's Eagle Gold Mine, in Canada’s Yukon Territory. The initial resource for the AurMac Property
of 903,945 oz Au (see Table 1 below) was announced in May 2020. Our major strategic
shareholders include Franklin Gold and Precious Metals Fund, Osisko Development, and Victoria
Gold Corporation. Banyan is focused on gold exploration projects that have the geological
potential, size of land package and proximity to infrastructure that is advantageous for a mineral
project to have potential to become a mine. Our Yukon based projects both fit this model and our
objective is to gain shareholder value by advancing projects in our pipeline.
The 173 sq km AurMac Property lies 30 km from Victoria Gold's Eagle Project and adjacent to
the Keno Hill Silver D istrict operated by Alexco Resource Corp. (“ Alexco”) and is highly
prospective for structurally controlled, intrusion related gold-silver mineralization. The property is
located adjacent to the main Yukon highway and just off the main access road to the Victoria Gold
open-pit, heap leach Eagle Gold mine. The AurMac Property benefits from a 3-phase powerline,
existing Yukon Energy Corp. switching power station and cell phone coverage. Banyan has
optioned the properties from Victoria Gold and Alexco, respecti vely, with a right to earn up to a
100% interest, subject to royalties.
The Initial Mineral Resource Estimate for the AurMac Property was prepared in 2020 and
consisted of 903,945 ounces of gold (see Table 1). It is a near surface, road accessible pit
constrained Mineral Resource contained in two near/on-surface deposits: the Airstrip deposit and
the Powerline Deposit.
Table 1: Pit-Constrained Inferred Mineral Resources at a 0.2 g/t Au Cut-Off – AurMac Property
Deposit Classification
Tonnage
Tonnes
Average Au
Grade
g/t
Au Content
oz
Airstrip Inferred 45,997,911 0.524 774,926
Powerline Inferred 6,578,609 0.610 129,019
Total Combined Inferred 52,576,520 0.535 903,945
Notes:
1. The effective date for the Mineral Resource is May 25, 2020.
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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, ti tle, taxation,
sociopolitical, marketing, changes in global gold markets or other relevant issues.
3. The CIM definitions 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 and it is uncertain if
further exploration will result in upgrading them to an indicated or measured Mineral Resource category.
4. Mineral Resources are reported at a cut-off grade of 0.2 g/t Au, using a US$/CAN$ exchange rate of 0.75 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$1,500/ounce, US$1.50/t mining cost,
US$2.00/t processing cost, US$2.50/t G+A, 80% heap leach recoveries, and 45° pit slope.
5. The Mineral Resource Estimate was prepared in accordance with National Instrument NI 43-101, Standards
of Disclosure for Mineral Projects (“NI 43-101”) requirements by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto
Consulting Inc, with technical report filed on SEDAR on July 7,2020.
The Hyland Gold Project, located 70 km Northeast of Watson Lake, Yukon, along the Southeast
end of the Tintina Gold Belt is a sediment hosted, structurally controlled, intrusion related gold
deposit, with a large land package (over 125 sq km), with the resource contained in the Main Zone
area (900 m x 600 m) day lighting at surface and numerous other known surface gold targets. It
appears the Main Zone oxide zone would be amenable to heap leach open pit mining, with column
leach recoveries of 86%. The project has an existing gravel access road.
Table 2 shows the Hyland Main Zone Indicated Gold Resource Estimate, prepared in accordance
with NI 43 -101, at a 0.3 g/t gold equivalent cutoff, contains 8.6 million tonnes grading 0.85 g/t
AuEq for 236,000 AuEq ounces with an Inferred Mineral Resource of 10.8 million tonnes grading
0.83 g/t AuEq for 288,000 AuEq ounces.
Table 2: Hyland Main Zone Indicated Gold Resource Estimate
Cut-off
Grade
(AuEq g/t)
In situ
Tonnes
Au Ag AuEq
Grade
(g/t) Ozs
Grade
(g/t) Ozs
Grade
(g/t) Ozs
Indicated
0.3 8,637,000 0.78 216,000 7.04 1,954,000 0.85 236,000
Inferred
0.3 10,784,000 0.77 266,000 5.32 1,845,000 0.83 288,000
Notes:
1. Mineral resources which are not mineral reserves do not have demonstrated economic viability.
2. All figures are rounded to reflect the relative accuracy of the estimate.
3. Mineral resources are reported at a cut-off grade of 0.3 g/t AuEq. AuEq grade is based on $1,350.00/oz Au,
$17.00/oz Ag and assumes a 100% recovery. The AuEq calculation does not apply any adjustment factors for
difference in metallurgical recoveries of gold and silver. This information can only be derived from definitive
metallurgical testing which has yet to be completed.
4. Mineral Resource Estimate prepared in accordance with NI 43-101 by Robert Carne, Allan Armitage and Paul
Gray dated and filed on SEDAR on May 1, 2018.
Banyan trades on the TSX -Venture Exchange under the symbol “BYN” and is quoted on the
OTCQB Venture Market under the symbol “ BYAGF”. For more information, please visit the
corporate website at www.BanyanGold.com or contact the Company.
Qualified Person
Paul D. Gray, P.Geo., Vice President of Exploration for the Company, is a “qualified person” as
defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-
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101”), and has reviewed and approved the content of this news release. Mr. Gray has verified the
data disclosed in this press release, including the sampling, analytical and test data underlying
the information
ON BEHALF OF BANYAN GOLD CORPORATION
(signed) "Tara Christie"
Tara Christie
President & CEO
For more information, please contact:
Tara Christie • 778 928 0556 • [email protected]
Jasmine Sangria • 604 312 5610 • [email protected]
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange, its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) nor OTCQB Venture Market accepts 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.
FORWARD LOOKING INFORMATION: This news release contains forward -looking information, which is not
comprised of historical facts. Such information can generally be identified by the use of forwarding -looking wording
such as “ may”, “will”, “expect”, “estimate”, “anticipate”, “intend”, “believe”, “potential” and “continue” or the negative
thereof or similar variations. 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, the
Company’s plans for drilling 30,000 metres this year; and statements regarding exploration expectations, exploration
or development plans; and mineral resource estimates. Factors that could cause actual results to differ materially from
such forward-looking information include, but are no t limited to, uncertainties inherent in resource estimates, capital
and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in
obtaining or failures to obtain required governmental, environment al 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.