First batch of 2024 drill assays highlight continuity of gold mineralization and further resource potential of project.

Banyan Gold Corp. Sept. 5 reported encouraging assay results from its ongoing 2024 drill program at the AurMac project in Yukon, Canada, including an intercept of 197 meters averaging 0.72 grams per metric ton gold from surface at the Powerline deposit.

Situated in Yukon's prolific Tombstone Gold Belt, the AurMac project covers 173 square kilometers (67 square miles) of mineral-rich terrain. Located just 40 kilometers (25 miles) from Mayo and roughly 356 kilometers (221 miles) from the Yukon capital, Whitehorse, AurMac is well-positioned with existing road and power infrastructure, including a three-phase powerline, nearby power station, and cell coverage.

In February, Banyan announced an updated mineral resource estimate for AurMac, upgrading the total to seven million ounces of gold.

According to the latest calculation, AurMac hosts 312.2 million metric tons of pit-constrained inferred resource averaging 0.61 g/t (6.16 million oz) gold from the Powerline deposit, as well as 35.2 million metric tons of pit-constrained inferred resource averaging 0.75 g/t (845,000 oz) gold from the Airstrip deposit.

This was a significant increase of 1 million oz from the previous 2023 estimate, largely due to successful step-out drilling that consolidated the Powerline and Aurex Hill deposits.

Kicking off the season in June, Banyan initially planned for roughly 5,000 meters, targeting Powerline and Airstrip, to focus on increasing resource confidence, targeting higher-grade zones, and expanding the overall resource footprint through step-out drilling.

However, with over 15,000 meters drilled to date, Banyan has significantly exceeded its initial target, demonstrating the continuity of gold mineralization across both deposits.

With the first results rolling in, the company's efforts have paid off, confirming the continuity of near-surface gold across Powerline and further demonstrating the economic viability of the deposit.

Banyan Gold Corp.

AurMac drill hole location map showing historical and 2024 holes drilled by Banyan.

Highlights from the latest announcement include:

• 197 meters averaging 0.72 g/t gold from a depth of 10.5 meters in hole AX-24-524.

• 184.3 meters averaging 0.6 g/t gold from 24.9 meters in AX-24-522, including 46.1 meters averaging 0.82 g/t from 163.1 meters.

• 138.7 meters averaging 0.52 g/t gold from 6.1 meters in AX-24-519, including 20.5 meters averaging 1.07 g/t from 124.3 meters.

• 111.4 meters averaging 0.52 g/t gold from 45.5 meters in AX-24-521, including 24.3 meters averaging 0.93 g/t from 90.0 meters.

• 55.1 meters averaging 0.91 g/t gold from 5.3 meters in AX-24-525.

• 98.1 meters averaging 0.72 g/t gold from 37.7 meters in AX-24-520.

• 62 meters averaging 0.35 g/t gold from 21.3 meters in AX-24-523.

"These results increase the confidence and demonstrate the continuity of the near-surface gold mineralization of the Powerline Deposit, as the AurMac Deposit both continues to add ounces and advances from an Inferred Resource to an Indicated Resource," said Banyan Gold President and CEO Tara Christie. "The focus of drilling in 2024 are areas of higher grade which would likely be part of the mine plan for the PEA planned for late 2025."

With results now in from 12 of the 87 holes drilled so far, Banyan Gold Corp. has demonstrated a successful 2024 drill program, showcasing promising gold mineralization and underscoring the potential for further resource growth as assays continue to come in.