+7Moz Gold Project Advances Toward 100% Ownership via Completion of PEA in 2025

• Banyan Gold's Aurmac project in the Yukon has 7 million ounces gold at a low strip ratio
• Recent drilling has defined higher-grade zones within starter pits, improving the deposit's profile
• Banyan is filing a resource update and preliminary economic assessment (PEA) in 2025 to earn 100% ownership
• The company believes the deposit has potential to grow to 10 million ounces with more drilling
• Banyan is well-funded for 2025 and plans to demonstrate the project's further growth potential beyond the PEA

Banyan Gold Corp. (TSXV:BYN) is advancing its 100%-owned AurMac gold project in the Yukon, an emerging tier-one jurisdiction. With 7 million ounces already defined in a 2022 mineral resource estimate, AurMac is one of the largest undeveloped gold deposits in Canada held by a junior company. Banyan's CEO, Tara Christie, believes the deposit has potential to grow to 10 million ounces with further drilling.

Higher-Grade Zones Improve Deposit Profile 

The company's 2024 drill program focused on delineating higher-grade mineralization within the proposed starter pits at AurMac. Recent drill results have been successful in this regard, with intercepts such as 1.6 g/t gold over 32 meters demonstrating consistent higher-grade mineralization between the Powerline and Airstrip zones. Christie commented:

"Over the course of the results that we've put out, we've defined areas of high grade within what are our starter pit areas. It has changed the profile of that deposit from how it was perceived last year."

These higher-grade zones have the potential to significantly improve AurMac's economic profile as Banyan advances the project through engineering studies. 

Upcoming Resource Update & PEA 

Banyan is working towards earning a 100% interest in AurMac. To satisfy the final earn-in requirements, Banyan must file an updated mineral resource estimate and preliminary economic assessment (PEA) in 2025. The cut-off date for the updated resource will be the 2024 drilling, which will not include some of Banyan's most recent high-grade intercepts.

Therefore, the updated resource and PEA will represent an interim snapshot of the project, with potential for continued growth. Christie noted:

"Both the resource and the PEA will be a snapshot of the project right now. We can continue to improve it with more drilling. This deposit is far from drilled off. Lots of room to grow."

Banyan is taking a pragmatic approach, balancing the need to complete the earn-in requirements with the desire to demonstrate AurMac's full potential. The company plans to keep drilling aggressively to further grow the resource beyond what will be included in the upcoming update.

Interview with President & CEO, Tara Christie

Well-Funded for Catalyst-Rich 2025 

Banyan is well-funded for its planned activities in 2025, with a strong treasury that will allow it to continue drilling while advancing engineering studies. The company deliberately conserved cash in 2024 to ensure it could execute on its 2025 plans amid a challenging market environment for junior gold companies.

The upcoming resource update and PEA will be key catalysts for Banyan in 2025, but the company is equally focused on demonstrating the potential for continued resource growth. Banyan's technical team is currently evaluating drill targets to determine which areas have the highest probability of adding high-grade ounces and expanding the mineralized footprint.

Valuation with Re-Rating Potential 

Banyan's current market valuation of approximately C$63 million equates to just $5 per ounce of gold in the ground, a substantial discount to the average of its peers at US$30-50 per ounce. This valuation gap suggests considerable potential for a re-rating as Banyan continues to advance and de-risk AurMac.

The company's share price was particularly impacted in June 2024 by external market factors, resulting in a 50% decline. However, with a strengthening gold price, improving market sentiment, and a catalyst-rich year ahead, Banyan is well positioned for a recovery and further gains. Christie believes Banyan represents a strong opportunity for investors at current levels:

"It's a time to look at Banyan again. We've got a lot of positive news flow that's coming... We've done a great job to show that this project isn't what people thought it was before. It's bigger."

The Investment Thesis for Banyan Gold:

• Large gold resource: 7 Moz with potential to grow to 10 Moz+
• High-grade starter pit zones that can improve project economics
• 100% earn-in near completion with upcoming resource update & PEA
• Well-funded for aggressive 2025 exploration & engineering programs
• Significantly undervalued versus peers on a per-ounce basis
• Multiple catalysts approaching in a rising gold price environment
• Proven management team with Yukon exploration & development expertise

The current macro environment is highly supportive of gold and gold equities. With rising geopolitical tensions, elevated inflation, and growing doubts about the stability of the global financial system, gold is reasserting its traditional role as a safe haven asset and a store of value. Central banks are diversifying their foreign exchange reserves into gold at an accelerating pace, providing an additional layer of physical demand.

At the same time, gold mining companies are showing improved capital discipline and cost containment abilities. After a prolonged period of underinvestment in exploration and development, the industry is better positioned to deliver value to shareholders in this stronger gold price environment. Junior gold developers like Banyan that are advancing high-quality assets in stable jurisdictions should be key beneficiaries of this macro backdrop. As Tara Christie, CEO of Banyan Gold, noted:

"Gold price is pretty amazing. Most of us have waited our whole careers for these gold prices. In Canadian dollars, $4,100 - that's for people with a lot of ounces in a jurisdiction where you can permit mines."

The combination of a rising gold price, renewed investor interest in the precious metals sector, and the growing scarcity of large, developable gold deposits in attractive mining jurisdictions creates a compelling investment thesis for companies like Banyan Gold. With a substantial and expanding resource base in the mining-friendly Yukon, and multiple catalysts on the horizon, Banyan is well positioned to create value for shareholders in this environment.