BYN.V · 2021-09-08 12:00:00

Banyan GOLD Reports 144.8 M of 0.74 G/T at the Powerline Deposit, Aurmac Project, Yukon

Drill Results

BANYAN GOLD REPORTS 144.8 M OF 0.74 G/T AT THE POWERLINE DEPOSIT,

AURMAC PROJECT, YUKON

September 8, 2021 TSX-V: BYN

VANCOUVER, B.C, September 8, 2021 – Banyan Gold Corp. (the " Company" or "Banyan")

(TSX-V: BYN) is pleased to release assay results from the final fifteen (15) drill holes of the Phase

1 program at the Powerline Deposit, AurMac Property, Yukon. Fifty (50) holes, totalling 10,476

metres (“m”), were drilled in a systematic 100 m centered grid completed in July 2021. Banyan

is pleased that the results have increased the area of known gold mineralization by more than

650% (from 0.16 km2 to 1.22 km2) and demonstrated potential for additional growth of the deposit

in all directions (Figures 1 &2). Phase 2 drilling at Powerline is ongoing.

Assay highlights from this series of drill results include:

● 144.8 metres of 0.74 g/t Au from 7.6m in DDH AX-21-101

o Including 47.5 m of 1.43 g/t Au from 7.6m

● 60.9 metres of 0.41 g/t Au from 10.7m in DDH AX-21-103

● 89.6 metres of 0.50 g/t Au from 6.4 m in DDH AX-21-111

● 78.1 metres of 0.43 g/t Au from 129.5 m in DDH AX-21-112

● 28.2 metres of 1.28 g/t Au from 8.8 m in DDH AX-21-113

“Results continue to demonstrate growth potential of the Powerline Deposit, with continuity of

near-surface gold distributed in mineralized horizons concordant with the sub-horizontal

mineralization model.” states Tara Christie, President and CEO . “Banyan is well positioned to

continue to rapidly advance our AurMac Project with our recent financing which will enable us to

ramp up to three drills and plan to complete a total of 30,000 m drilling in 2021. Projects with the

potential to host three to five million ounces, that are near-surface adjacent to an existing highway,

communications and power infrastructure are extremely rare and will be in demand.”

Powerline Zone

2021 Drilling at Powerline to date consists of ninety -five (95) diamond drill holes totalling

18,738 m. The May 25, 2020 Powerline resource was based on fifteen ( 15) drill holes totalling

2,269 m. Gold mineralization is interpreted to be associated with swaths of quartz veins dipping

shallowly to the north, and within pyrrhotitic horizons with a dip to the south. The combination of

the two controls of gold mineralization equate to sub-horizontal mineralization envelopes at the

current drill hole spacing.

A video to accompany this news release and additional information is located on our website.

Image 1: Photographs of visible gold

AX-21-101: from 48.6 to 55.1m

1.39m of 15.90 g/t

AX-21-101: from 100.1m to 101.55m

1.45m of 8.32 g/t

AX-21-113: from 23.6 to 24.2m

0.66m of 18.90 g/t

AX-21-114: from 166.1 to 167.7m

1.57m of 0.58 g/t

Figure 1: 2021 Drill program at Powerline and Aurex Hill, showing historic, completed and planned

diamond drill holes with interpreted area of influence for the Poweline Zone noted.

Figure 2: Plan map of Powerline Zone 2021 drill holes reported, planned and completed.

Table 1: 2021 Highlighted Powerline Diamond Drill Analytical Results

Hole ID From (m) To (m) Interval* (m) Au (g/t)

AX-21-101 7.6 152.4 144.8 0.74

Including 7.6 55.1 47.5 1.43

Including 65.5 67.5 2.0 1.62

Including 91.4 92.5 1.1 3.87

Including 100.1 101.6 1.5 8.32

Including 121.4 123.1 1.7 1.25

Including 128.0 129.5 1.5 2.13

Including 134.0 135.6 1.6 1.26

Including 150.9 152.4 1.5 3.99

AX-21-102 39.6 41.1 1.5 2.57

And 103.7 105.2 1.5 1.37

And 192.0 224.0 32.0 0.33

Including 221.0 222.5 1.5 1.05

AX-21-103 10.7 71.6 60.9 0.41

Including 44.2 45.5 1.3 3.43

Including 52.0 53.3 1.3 3.01

Including 65.5 68.6 3.1 2.45

And 93.0 118.9 25.9 0.22

Including 93.0 94.5 1.5 1.18

And 163.6 178.3 14.7 0.75

Including 166.2 167.6 1.4 4.82

Including 175.8 176.3 0.5 2.02

And 227.5 229.6 2.1 1.39

AX-21-104 29.0 93.5 64.5 0.20

Including 65.5 67.1 1.6 1.26

And 199.0 200.6 1.6 1.08

AX-21-105 9.1 18.4 9.3 0.68

Including 14.3 15.8 1.5 1.38

Including 17.0 18.4 1.4 1.54

And 76.7 92.0 15.3 0.92

Including 78.9 80.4 1.5 2.19

Including 90.2 92.0 1.8 4.04

And 128.8 133.4 4.6 1.17

AX-21-106 8.5 24.3 15.8 0.22

And 148.9 158.4 9.5 0.28

Including 148.9 149.4 0.5 1.30

Hole ID From (m) To (m) Interval* (m) Au (g/t)

AX-21-108 18.5 51.4 32.9 0.22

Including 37.5 38.1 0.6 2.79

And 142.8 148.9 6.1 0.44

And 187.6 189.0 1.4 7.90

AX-21-109 8.8 78.7 69.9 0.20

Including 14.9 15.7 0.8 1.45

Including 62.5 63.9 1.4 1.19

Including 77.7 78.7 1.0 1.57

And 103.1 214.9 111.8 0.20

Including 211.8 213.4 1.6 3.05

AX-21-110 10.7 22.9 12.2 0.28

And 173.7 175.2 1.5 1.63

AX-21-111 6.4 96.0 89.6 0.50

Including 9.2 10.7 1.5 1.20

Including 36.6 56.9 20.3 1.03

Including 86.9 88.5 1.6 1.28

Including 93.0 94.5 1.5 2.22

And 182.9 198.4 15.5 0.39

Including 192.0 193.6 1.6 2.06

AX-21-112 129.5 207.6 78.1 0.43

Including 129.5 131.5 2.0 1.99

Including 145.8 147.4 1.6 1.28

Including 149.1 150.6 1.5 1.20

Including 152.1 153.6 1.5 2.17

Including 167.2 168.7 1.5 1.39

Including 176.2 177.9 1.7 1.20

Including 179.4 180.9 1.5 1.56

Including 206.1 207.6 1.5 1.02

AX-21-113 8.8 37.0 28.2 1.28

Including 8.8 10.2 1.4 1.47

Including 12.2 13.7 1.5 2.20

Including 23.6 24.2 0.6 18.9

Including 24.2 34.7 10.5 1.57

And 45.7 48.8 3.1 0.45

And 95.4 103.4 8.0 0.19

And 120.3 132.6 12.3 0.31

And 195.1 201.2 6.1 0.56

AX-21-114 47.6 77.3 29.7 0.59

Hole ID From (m) To (m) Interval* (m) Au (g/t)

Including 50.2 51.8 1.6 3.75

Including 63.9 65.5 1.6 1.42

Including 73.0 73.8 0.8 6.76

And 129.2 167.7 38.5 0.23

Including 139.7 140.7 1.0 2.01

AX-21-115 128.0 144.5 16.5 0.51

Including 132.3 132.6 0.3 12.00

Including 143.3 144.5 1.2 1.10

* True widths are estimated to be greater than 90% of the reported intervals.

2021 Drilling Program Update

Phase 1 Drilling at AurMac included drilling at both the Powerline and Aurex Hill targets.

At Powerline, 10,476 m (50 holes) was drilled in a systematic, 100 m centered, drill grid designed

to test the expansion potential of the Powerline Deposit. Drilling at Aurex Hill included eighteen

(18) diamond drill holes totalling 4,386 m. Assay results are pending from the eighteen ( 18) drill

holes at Aurex Hill and from the ongoing Phase 2, drilling at Powerline.

Phase 2 Drilling is designed to continue to expand the limits of the Powerline Deposit and is

planned to continue until December 2021. 2022 drilling is planned to resume in February.

Banyan targets completing a total of 30,000 m of drilling in 2021 and similar amount in 2022.

Qualified Person

Paul D. Gray, P.Geo., Vice President of Exploration for the Company, is a “qualified person” as

defined under NI 43-101 and has reviewed and approved the content of this news release.

Upcoming Catalysts

● Precious Metals Beaver Creek, September 8-11, 2021

o Presentation September 10th at 4:40 pm MST

● GCFF Virtual Conference 2021 – Global Resource Investment Conference, September 23,

2021 – Presentation 8:50 am PST

● Mining Investment Americas, October 13-15, 2021

● John Turmazos Webinar, October 13, 2021

● Deutsch Godnesse (German Gold Show), November 12-13, 2021

● 2021 Precious Metals Summit Zurich, November 15-17, 2021

COVID-19 Update

Banyan Gold continues to take proactive measures to protect the health and safety of our Yukon

communities, our contractors and our employees from COVID 19 and exploration activities in

2021 will have additional safety measures in place, following and exceeding all the

recommendations of Yukon’s Chief Medical Officer. Over 90% of Banyan Gold employees and

contractors on site are fully vaccinated.

About Banyan

Banyan's primary asset AurMac is adjacent to Victoria Gold's Eagle Gold Mine, in Canada’s

Yukon Territory, which announced commercial production on July 1, 2020. The AurMac initial

resource of 903,945 oz Au (see Table 2 below) was announced in May 2020. Our major strategic

shareholders include Alexco Resource Corp, 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 infrastru cture 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

Alexco's Keno Hill Silver District 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 respectively with a right to earn up to a 100% subject to royalties.

The 2020 Initial Mineral Resource Estimate prepared in accordance with National Instrument 43-

101 (“NI 43-101”) guidelines for the AurMac Property is 903,945 ounces of gold. It is a near

surface, road accessible pit constrained Mineral Resource contained in two near/on-surface

deposits: The Airstrip and Powerline deposits. The Mineral Resource is summarized in Table 2

below.

Table 2: 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

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.

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, title, 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 slop.

5. Mineral Resource Estimate prepared in accordance with 43-101 guidelines by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto

Consulting Inc, with technical report filed July 7,2020.

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