Banyan Gold Corp Closing Second Trance Of Non-Brokered Private Placement
Banyan Gold Corp Closing Second Trance Of Non-Brokered Private Placement
July 21, 2017 TSX-V: BYN
BANYAN GOLD CORP. (“Banyan” or “The Company”), announces that subject to TSX
Venture Exchange approval, it has completed a Second Tranche non-brokered private
placement for $ 204,000 in gross proceeds by issuing a total of 1,360,000 shares at $0.15 per
share. This second tranche supplements a first tranche (see news release of June 22, 2017) of
$600,000, bringing the total funds raised to $804,000.
The Two Tranches of the Private Placement consists of 5,360,000 flow through shares (within
the meaning of the Income Tax Act (Canada)), priced at $0.15 per share. Net proceeds will be
used on the Company’s ongoing summer exploration program at the Aurex -McQuesten and
Hyland Gold Projects.
The shares issued will be subject to the customary four month hold period.
A cash commission of $28,860 was paid on part of the funds raised during the first tranche.
Insiders participated for $65,000 or 433,333 shares in the first tranche.
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 well financed growth stage gold exploration company whose flagship property, the
Hyland Gold Project, is approximately 70km NE of Watson Lake, Yukon, along the southeast
end of the Tintina Gold Belt. The Main Zone gold Inferred Resource, at a 0.6 g/t gold equivalent
cutoff, hosts a NI 43 -101 resource of 12,503,994 tonnes containing 361,692 ounces gold at 0.9
g/t and 2,248,948 ounces silver at 5.59 g/t for a combined gold and silver 396,468 ounces gold
equivalent.
The newly acquired 9,230 ha Aurex-McQuesten Property, in close proximity to Victoria Gold's
Eagle project and Alexco Resource'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 symbol “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.