Banyan Provides Notice of Change of Auditors
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Banyan Provides Notice of Change of Auditors
August 7, 2025, TSX-V: BYN
VANCOUVER, BC, August 7, 2025 - Banyan Gold Corp. (the "Company" or "Banyan") (TSX-
V: BYN ) ( OTCQB: BYAGF ) announced today that it has changed its auditors from GEIB &
Company (“Former Auditor”) to De Visser Gray LLP, Chartered Accountants (“Successor Auditor”)
effective August 7, 2025.
At the request of the Corporation, the Former Auditor resigned as the auditor of Banyan effective
August 7, 2025. Banyan’s Board of Directors appointed the Successor Auditor as the
Corporation’s auditor effective August 7, 2025 until the next Annual Genera l Meeting of the
Corporation.
The Former Auditor has not expressed a modified opinion in its reports for the two most recently
completed fiscal years of the Corporation, nor for the period from the most recently completed
period for which Former Auditor issued an audit report in respect of the Corporation. There are
no reportable events including disagreements, consultations, or unresolved issues as defined in
National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”) (Part 4.11)
between the Corporation and its Former Auditor.
In accordance with NI 51-102, the notice of change of auditor, together with the required letters
from the Former Auditor and the Successor Auditor, have been reviewed by the board of directors
of the Corporation and filed on SEDAR.
Qualified Persons
Duncan Mackay, P.Geo., is a “ Qualified Person ” as defined under National Instrument 43 -
101, Standards of Disclosure for Mineral Projects (“NI 43-101”), and has reviewed and approved
the content of this news release in respect of all disclosure other than the MRE . Mr. Mackay is
Vice President Exploration for Banyan and has verified the data disclosed in this news release,
including the sampling, analytical and test data underlying the information.
About Banyan
Banyan's primary asset, the AurMac Project is located in Canada’s Yukon Territory. The current
Mineral Resource Estimate (“MRE”) for the AurMac Project has an effective date of June 28, 2025
and comprises an Indicated Mineral Resource of 2.274 million ounces of gold (" Au") (112.5 M
tonnes at 0.63 g/t) and an Inferred Mineral Resource of 5.453 M oz of Au (280.6 M tonnes at 0.60
g/t ) (as defined in the Canadian Institute of Mining, Metallurgy and Petroleum (" CIM") Definition
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Standards for Mineral Resources & Mineral Reserves incorporated by reference into NI 43-101).
The 215.3 square kilometres (“sq km”) AurMac Project lies 40 km from Mayo, Yukon. The AurMac
Project is transected by the main Yukon highway and benefits from a 3-phase powerline, existing
power station and cell phone coverage.
Table 1: Pit-Constrained Indicated and Inferred Mineral Resources – AurMac Project
Deposit Gold Cut-Off
(g/t)
Tonnage
(M Tonnes)
Average Gold
Grade (g/t)
Contained Gold
(Moz)
Indicated MRE
Airstrip 0.30 27.7 0.69 0.611
Powerline 0.30 84.8 0.61 1.663
Total Combined
Indicated MRE
0.30 112.5 0.63 2.274
Inferred MRE
Airstrip 0.30 10.1 0.75 0.245
Powerline 0.30 270.4 0.60 5.208
Total Combined
Inferred MRE
0.30 280.6 0.60 5.453
Notes to Table 1:
1. The effective date for the MRE is June 28, 2025 and was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal,
Ginto Consulting Inc., an independent "Qualified Person" within the meaning of NI 43-101.
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 Definition Standards 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.
4. Mineral Resources are reported at a cut-off grade of 0.30 g/t gold for all deposits, using a US$/CAN$ exchange
rate of 0.73 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 $2,050/ounce,
US$2.50/t mining cost, US$10.00/t processing cost, US$2.00/t G+A, 90% gold recoveries, and 45° pit slopes.1
5. The number of tonnes and ounces was rounded to the nearest thousand. Any discrepancies in the totals are
due to rounding effects.
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 or contact the Company.
ON BEHALF OF BANYAN GOLD CORPORATION
1 The gold price and cost assumptions are consistent with current pricing assumptions and costs and, in particular,
with those employed for recent technical reports for similar pit-constrained Yukon gold projects.
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(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 and is based upon the Company’s current internal expectations, estimates, projections,
assumptions and beliefs. Such information can generally be identified by the use of forwarding -looking wording such
as “may”, “will”, “expect”, “estimate”, “anticipate”, “intend(s)”, “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 n ews release includes, but is not limited to, the
Company’s plans and timing for the closing the 100% acquisition of the McQuesten and Aurex properties ; mineral
resource estimates; mineral recoveries and anticipated mining costs. Factors that could cause actual results to differ
materially from such forward -looking information include uncertainties inherent in resource estimates, continuity and
extent of mineralization, 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, 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. B anyan 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.