BYN.V · 2022-10-12 12:00:00

Banyan Intersects 1.80 G/T GOLD over 31.8 Metres at Powerline Deposit, Aurmac Property

Drill Results

BANYAN INTERSECTS 1.80 G/T GOLD OVER 31.8 METRES AT POWERLINE

DEPOSIT, AURMAC PROPERTY

October 12, 2022 TSX-V: BYN | OTCQB: BYAGF

VANCOUVER, BC, October 12, 2022 – Banyan Gold Corp. (the " Company" or "Banyan")

(TSXV: BYN) (OTCQB: BYAGF ) is pleased to announce additional analytical results from the

diamond drill holes completed during the Company’s 2022 exploration program at the Powerline

deposit (the “Powerline Deposit”) located on the Company’s AurMac Property.

Assay highlights include:

● 177.9 metres (“m”) of 0.47 g/t Au from 24.4 m in DDH AX-22-251

o Including 27.1 m of 1.50 g/t Au from 97.2 m

● 114.1 m of 0.52 g/t Au from 167.8 m in DDH AX-22-252

o Including 30.4m of 0.69 g/t Au from 206.4 m

o Including 26.1 m of 1.01 g/t Au from 255.8 m

● 40.5 m of 0.86 g/t Au from 183.0 m in DDH AX-22-22-257

● 31.8 m of 1.80 g/t Au from 56.4 m in DDH AX-22-258

● 28.2 m of 0.89 g/t Au from 59.8 m in DDH AX-22-272

● 145.8 m of 0.52 g/t Au from surface (12.6 m) in DDH AX-22-277

o Including 45.7m of 0.88 g/t Au from surface (12.6 m)

“These latest assay results from the ongoing 2022 diamond drill program continue to

systematically increase the mineralized footprint with consistent intersections of on/near-surface

gold mineralization in and around the Powerline Deposit on the AurMac Property ,” Tara Christie,

President & CEO of Banyan stated. “With four drills currently operating, Banyan remains well

positioned to provide a resource update in 2023, after the 2022 assays have been received and

the AurMac geological model updated.”

Analytical results from these latest twenty-nine (29) 2022 drill holes are consistent with previous

exploration drill results at the Powerline Deposit (see Tables 1, Figure 1, and Figure 2) and t he

areal extent of interpreted gold mineralization from near/on-surface continues to be expanded

and validated with each successive batch of assay results received.

The Powerline and Aurex Hill G old Deposits are contained within a metasedimentary package

consisting of predominately schists, quartzites and limestones of the Late Proterozoic to

Cambrian Hyland Group. Gold mineralization here is chiefly associated with low angle quartz -

sulfosalt-arsenopyrite veins seen crosscutting all lithologies and is interpreted to be related to a

large intrusion related gold system typical of the Tombstone Gold Belt and Selwyn Basin gold

deposits. A strong bismuth-gold association has been identified at AurMac and is currently being

utilized to establish exploration vectors over the Property.

Visible gold from these holes is shown in Image 1 and additional information is located on

our website at www.BanyanGold.com.

Image 1: Photographs of visible gold with hole numbers and hole location:

A) AX-22-251 110.7m to 111.7m 8.8g/t 1.0m

B) AX-22-251 148.6m to 149.3m 7.30g/t 0.7m

C) AX-22-277 154.3m to 154.5m 7.77g/t 0.2m

D) AX-22-251 109.5m to 110.7m 4.03g/t 1.2m

Figure 1: East Powerline and Aurex Hill Drill Hole Locations, showing historic, completed, and

proposed diamond drill holes.

Figure 2: West Powerline Drill Hole Locations, showing historic, completed, and proposed

diamond drill holes.

Table 1: 2022 Highlighted Powerline Diamond Drill Analytical Results. (Maps, sections and

full assay results will be available on Banyan’s website).

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

AX-22-250 Surface (6.1) 42.9 36.8 0.24

and 59.2 65.5 6.3 0.44

and 134.1 149.7 15.6 0.25

and 163.1 172.2 9.1 0.38

AX-22-251 51.5 80.5 29.0 0.33

and 97.2 124.3 27.1 1.50

and 130.9 156.7 25.8 0.68

and 179.2 202.3 23.1 0.46

or 24.4 202.3 177.9 0.47

AX-22-252 38.5 47.4 8.9 0.41

and 167.8 184.1 16.3 0.57

and 206.4 236.8 30.4 0.69

and 255.8 281.9 26.1 1.01

or 167.8 281.9 114.1 0.52

AX-22-253 Surface (7.6) 13.7 6.1 0.37

and 41.2 80.9 39.7 0.20

AX-22-254 36.0 41.8 5.8 0.37

and 61.0 86.9 25.9 0.36

and 93.9 125.0 31.1 0.30

and 174.6 186.3 11.7 0.27

AX-22-255 27.4 67.5 40.1 0.23

and 72.0 108.2 36.2 0.32

and 154.8 166.3 11.5 0.93

AX-22-256 96.1 105.2 9.1 0.65

and 118.9 129.5 10.6 0.94

and 144.8 152.4 7.6 0.74

and 170.7 192.0 21.3 0.50

and 231.0 271.8 40.8 0.39

AX-22-257 40.5 51.2 10.7 0.36

And 100.6 108.5 7.9 0.90

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

And 139.5 167.3 27.8 0.27

and 183.0 223.5 40.5 0.86

AX-22-258 Surface (6.1) 36.6 30.5 0.19

and 56.4 88.2 31.8 1.80

and 98.4 140.5 42.1 0.27

and 155.7 192.2 36.5 0.33

AX-22-259 18.3 63.4 45.1 0.36

AX-22-260 189.0 223.4 34.4 0.25

AX-22-261 80.9 115.3 34.4 0.93

and 150.7 167.6 16.9 0.46

and 241.2 267.9 26.7 0.73

AX-22-262 90.7 94.5 3.8 0.35

and 238.8 261.3 22.5 0.23

AX-22-263 39.9 90.5 50.6 0.41

AX-22-264 50.3 111.3 61.0 0.36

and 138.7 164.6 25.9 0.28

and 176.3 197.9 21.6 0.60

AX-22-265 78.7 109.5 30.8 0.22

AX-22-266 40.1 67.0 26.9 0.23

and 116.0 126.5 10.5 0.39

AX-22-267 Surface (9.1) 17.0 7.9 0.29

and 63.5 88.3 24.8 0.48

and 120.8 144.2 23.4 0.45

AX-22-268 38.3 77.7 39.4 0.28

and 94.5 147.8 53.3 0.22

and 167.6 205.7 38.1 0.54

and 222.3 246.9 24.6 0.28

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

AX-22-270 13.6 71.0 57.4 0.40

and 148.5 158.6 10.1 0.34

and 194.0 204.2 10.2 0.60

AX-22-271 30.5 36.9 6.4 0.56

and 76.1 91.4 15.3 0.24

and 120.3 131.1 10.8 0.39

and 200.5 204.2 3.7 0.40

AX-22-272 10.7 21.8 11.1 0.21

and 59.8 88.0 28.2 0.89

and 106.3 113.5 7.2 0.30

and 159.0 175.0 16.0 0.46

AX-22-273 53.3 94.7 41.4 0.34

and 108.1 123.7 15.6 0.22

AX-22-273A 50.1 99.7 49.6 0.34

and 144.3 164.1 19.8 0.48

and 185.0 195.4 10.4 0.24

and 224.4 247.8 23.4 0.41

AX-22-274 92.7 117.3 24.6 0.73

and 161.5 182.8 21.3 0.76

AX-22-277 (Surface) 12.6 58.3 45.7 0.88

and 64.5 110.6 46.1 0.41

and 153.1 158.4 5.3 2.04

or 12.6 158.4 145.8 0.52

AX-22-278 65.1 91.7 26.6 0.48

and 102.6 117.0 14.4 0.36

and 166.0 187.9 21.9 0.59

and 258.4 285.0 26.6 0.24

*True widths are estimated to be approximately 90% of drilled intervals.

Table 2: Drill Collar Location for Released Results

Collar ID East

NAD83_Z8

North

NAD83_Z8 Elev. (m) Azimuth Dip (°) Depth (m)

AX-22-250 468202 7082805 844 355 -61 217.9

AX-22-251 466901 7082801 780 002 -57 206.7

AX-22-252 466398 7082601 759 358 -59 306.3

AX-22-253 468100 7083096 823 355 -60 240.8

AX-22-254 467026 7082925 779 358 -59 218.2

AX-22-255 468101 7083015 825 355 -57 242.3

AX-22-256 466404 7082700 754 358 -61 285.0

AX-22-257 466504 7082813 757 003 -61 285.3

AX-22-258 468105 7082905 827 003 -55 222.5

AX-22-259 466100 7082603 738 351 -57 221.0

AX-22-260 468098 7082798 833 355 -52 245.4

AX-22-261 466401 7082803 753 358 -57 293.2

AX-22-262 465803 7082612 726 349 -58 263.7

AX-22-263 468298 7082703 853 003 -57 219.5

AX-22-264 466394 7082895 752 359 -57 251.5

AX-22-265 465799 7082831 722 349 -54 266.7

AX-22-266 468097 7082605 841 359 -63 211.8

AX-22-267 467999 7082606 835 352 -60 198.7

AX-22-268 466397 7083001 750 353 -57 256.0

AX-22-269 465499 7082808 707 356 -61 241.4

AX-22-270 467995 7082507 840 011 -67 204.2

AX-22-271 466301 7083001 740 352 -56 213.4

AX-22-272 467022 7083208 787 360 -60 225.6

AX-22-273 466299 7083199 735 354 -57 135.6

AX-22-273A 466299 7083204 735 354 -57 260.6

AX-22-274 466305 7082902 744 360 -57 219.5

AX-22-275 465825 7081116 777 351 -66 183.5

AX-22-276 462020 7077088 735 011 -56 178.3

AX-22-277 466998 7083107 782 359 -60 271.3

AX-22-278 466204 7083204 728 352 -58 292.6

Upcoming Events

Banyan will be attending:

● New Orleans Investment Conference, New Orleans, Louisiana, October 12-15, 2022

Panel Discussion October 13th at 4:35 pm CDT and Corporate Presentation October 15th

at 9:50 am CDT

● Precious Metals Zurich, Zurich, Switzerland, November 14 -15, 2022

Corporate Presentation November 15, 2022 at 3:45 pm CET

● Deutsche Goldmesse, Frankfurt, Germany, November 18-19, 2022

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