BYN.V · 2023-02-27 12:00:00

Banyan Reports Final Assays from 2022 Program; Including 1.48 G/T GOLD over 30.5 Metres at Aurex Hill Deposit, Aurmac Property, Yukon

Drill Results

BANYAN REPORTS FINAL ASSAYS FROM 2022 PROGRAM;

INCLUDING 1.48 G/T GOLD OVER 30.5 METRES AT AUREX HILL DEPOSIT,

AURMAC PROPERTY, YUKON

February 27, 2023 TSX-V: BYN | OTCQB: BYAGF

VANCOUVER, BC, February 27, 2023 – Banyan Gold Corp. (the " Company" or "Banyan")

(TSXV: BYN) (OTCQB: BYAGF) is pleased to announce the analytical results from the final fifty-

seven (57) diamond drill holes from the Company’s 2022 exploration program at the Powerline

and Aurex Hill deposits located on the Company’s AurMac Property, Yukon Territory.

Assay highlights from this most recent batch of assays received include:

• 31.2 metres (“m”) of 0.84 g/t Au from 293.4 m in DDH-22-350

• 30.5 m of 1.48 g/t Au from 28.3 m in DDH-22-364

• 78.3 m of 0.48 g/t Au from 73.9 m in DDH-22-371

• 105.9 m of 0.41 g/t Au from 10.7 m in DDH-22-376

• 43.7 m of 0.60 g/t Au from 72.7 m in DDH-22-380

• 63.2 m of 0.45 g/t Au from 41.7 m in DDH-22-382

• 54.1 m of 0.43 g/t Au from 128.7 m in DDH-22-384

• 90.0 m of 0.46 g/t Au from 21.3 m in DDH-22-386

• 64.3 m of 0.42 g/t Au from 54.6 m in DDH-22-387

“With all 2022 data now in hand, Banyan is positioned to further advance the AurMac deposit,”

stated Tara Christie, President & CEO of Banyan. “The 2022 exploration program was successful

in demonstrating that the AurMac deposit has the potential to be district scale, with the near/on-

surface gold mineralization of the Powerline and Aurex Hill deposits continuing to be open and

with step-out drilling demonstrating that Banyan can continue to add ounces beyond what will be

in our mid-year Resource update. Banyan looks forward to another aggressive exploration season

designed to build upon and expand the AurMac Property’s expansive gold endowment towards

building an economic gold resource.”

Tables 1 and 2 include the significant analytical results for gold from holes in this release and hole

locations are shown in Figures 1 to 3.

The Powerline and Aurex Hill gold 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 associated

with 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.

Highlighted instances of visible gold identified from these holes is shown in Image 1.

Image 1: Photographs of visible gold from:

A) AX-22-3 94: 78.1 m to 80.1 m – 11.9 g/t Au

over 0.4 m

B) AX-22-398: 47.9 m to 48.5 m – 14.0 g/t

Au over 0.6 m

C) AX-22-3 99: 7.1 m to 168.5 m - 0.18 g/t Au

over 0.6 m

D) AX-22-411: 94.1 m to 94.7 m - 0.02 g/t Au

over 0.65 m

Figure 1: Aurex Hill drill hole locations showing historic and Banyan completed diamond drill holes

with holes with assay information in this release labelled with hole identification.

Figure 2: Powerline drill hole locations showing historic and Banyan completed diamond drill holes

with holes with assay information in this release labelled with hole identification.

Figure 3: Powerline East drill hole locations showing historic and Banyan completed diamond

drill holes with holes with assay information in this release labelled with hole identification.

The Powerline and Aurex Hill gold 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 associated

with 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.

Table 1: Aurex Hill and Powerline Diamond Drill Significant Analytical Results (maps and

sections will be made available on Banyan’s website).

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

AX-22-304 33.1 56.6 23.5 0.20

And 228.6 240.3 11.7 0.32

AX-22-307 142.5 159.5 17.0 0.24

AX-22-318 58.4 63.7 5.3 0.28

And 166.1 191.3 25.2 0.50

And 198.1 202.2 4.1 0.40

AX-22-336 171.2 184.2 13.0 0.25

AX-22-350 80.1 88.4 8.3 0.30

And 112.7 145.8 33.1 0.31

And 167.2 202.7 35.5 0.22

And 293.4 324.6 31.2 0.84

AX-22-356 38.0 57.2 19.2 0.24

And 98.5 108.1 9.6 0.35

And 260.1 331.3 71.2 0.33

AX-22-359 172.7 194.8 22.1 0.40

AX-22-364 28.3 58.8 30.5 1.48

AX-22-367 148.6 162.5 13.9 0.59

AX-22-371 73.9 152.2 78.3 0.48

including 77.7 79.6 1.9 11.5

AX-22-372 15.3 73.2 57.9 0.21

And 109.7 158.3 48.6 0.35

AX-22-373 74.7 95.4 20.7 0.20

And 232.6 254.2 21.6 0.36

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

AX-22-374 11.6 44.0 32.4 0.30

And 57.9 142.3 84.4 0.34

And 187.1 202.7 15.6 0.27

AX-22-375 71.2 108.6 37.4 0.48

AX-22-376 10.7 116.6 105.9 0.41

including 39.0 39.3 0.3 49.4

AX-22-377 63.5 108.1 44.6 0.35

And 129.3 141.7 12.4 0.23

AX-22-378 51.5 88.8 37.3 0.30

AX-22-379 6.1 111.3 105.2 0.24

AX-22-380 72.7 116.4 43.7 0.60

AX-22-381 10.7 24.9 14.2 0.27

And 93.0 100.6 7.6 0.22

AX-22-382 41.7 104.9 63.2 0.45

And 122.4 144.8 22.4 0.34

AX-22-383 118.4 137.2 18.8 0.33

AX-22-384 13.7 67.8 54.1 0.24

And 92.9 207.2 114.3 0.32

including 128.7 182.8 54.1 0.43

AX-22-385 25.0 72.2 47.2 0.40

AX-22-386 21.3 111.3 90.0 0.46

AX-22-387 54.6 118.9 64.3 0.42

AX-22-388 47.7 143.3 95.6 0.31

AX-22-389 55.2 131.1 75.9 0.28

AX-22-390 20.3 77.7 57.4 0.26

and 99.1 187.4 88.3 0.31

AX-22-391 44.3 52.7 8.4 0.50

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

AX-22-392 31.5 116.0 84.5 0.32

AX-22-293 142.5 200.8 58.3 0.24

AX-22-394 16.8 54.6 37.8 0.38

and 75.6 147.8 72.2 0.28

AX-22-395 25.9 65.7 39.8 0.22

AX-22-396 54.9 230.5 175.6 0.31

AX-22-397 6.1 46.3 40.2 0.25

and 54.9 73.3 18.4 0.20

and 86.4 121.7 35.3 0.20

AX-22-398 108.2 130.1 21.9 0.22

and 167.6 183.7 16.1 0.29

AX-22-399 29.2 121.9 92.7 0.23

AX-22-400 22.8 138.3 115.5 0.24

AX-22-401 19.8 22.4 2.6 0.57

and 38.9 50.3 11.4 0.32

and 70.5 88.5 18.0 0.23

AX-22-402 19.8 77.3 57.5 0.22

and 105.2 137.1 31.9 0.28

and 160.3 169.0 8.7 0.35

and 190.6 194.6 4.0 0.40

AX-22-403 27.4 162.1 134.7 0.30

AX-22-404 169.2 233.2 64.0 0.27

AX-22-405 25.9 33.5 7.6 0.39

and 50.3 65.5 15.2 0.42

and 89.9 93.0 3.1 0.64

and 151.7 159.3 7.6 0.32

AX-22-406 21.4 92.4 68.0 0.21

AX-22-407 89.9 184.4 94.5 0.28

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