Banyan Gold Issues Incentive Stock Options to Employees

12/05/2025 – 04:50 PM

VANCOUVER, BC – Banyan Gold Corp. (TSXV: BYN; OTCQB: BYAGF) announced that its Board of Directors has granted 5,060,000 stock options, allowing the purchase of 5,600,000 shares at an exercise price of $1.00 per share. The options vest over a maximum of 18 months and carry a five‑year term. The awards were made to consultants, employees, advisors and exploration staff pursuant to the company’s stock‑option plan and the annual compensation review.

Qualified Persons

Duncan Mackay, M.Sc., P.Geo., serves as the Qualified Person under NI 43‑101 and has reviewed and approved the technical content of this release, excluding the mineral‑resource estimate. As Vice President Exploration, Mr. Mackay verified sampling, analytical and test data supporting the disclosed information.

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• Toronto, ON – December 8‑10, 2025
• Houston, TX – December 21‑23, 2025

Company Overview

Banyan’s flagship asset, the AurMac Project, is situated in the traditional territory of the Na‑Cho Nyäk Dun First Nation, 40 km north of Mayo, Yukon. The June 28, 2025 Mineral Resource Estimate (MRE) defines an Indicated resource of 2.274 Moz Au (112.5 Mt at 0.63 g/t) and an Inferred resource of 5.453 Moz Au (280.6 Mt at 0.60 g/t). The 303 sq km property benefits from proximity to the Yukon Highway, a three‑phase power line, an existing power station and cellular coverage, which collectively reduce infrastructure risk and support rapid development.

Table 3 – Pit‑Constrained Mineral Resources, AurMac Project

Key Technical Notes

1. The MRE was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal of Ginto Consulting Inc., an independent Qualified Person under NI 43‑101.
2. Mineral resources are not mineral reserves; they do not guarantee economic viability and are subject to a range of risks, including permitting, environmental, market and operational factors.
3. All resources are reported at a 0.30 g/t gold cut‑off, using a $2,050/oz gold price, $2.50/t mining cost, $10.00/t processing cost, $2.00/t G&A, 90 % recovery and 45° pit slopes (Lerchs‑Grossman algorithm).
4. Rounded figures may cause minor discrepancies; values are presented to the nearest thousand.

Hyland Gold Project

Located 70 km northeast of Watson Lake, Yukon, the Hyland project sits on the southeast limb of the Tintina Gold Belt within the traditional territory of the Kaska Nations. The September 1, 2025 MRE reports an Indicated resource of 337 koz Au and 2.63 Moz Ag (11.3 Mt at 0.93 g/t Au and 7.27 g/t Ag) and an Inferred tier of 118 koz Au and 0.86 Moz Ag (3.9 Mt at 0.95 g/t Au and 6.94 g/t Ag). The project is supported by a network of gravel roads and sits on a 125‑sq‑km land package, offering scalable development potential.

Nitra Gold Project

The grassroots Nitra project lies 10 km west of AurMac in the Mayo mining district. It is underlain by Late Proterozoic metaclastic rocks of the Yusezyu Formation and intersected by Middle Cretaceous plutonic intrusions (Morrison Creek and Minto Creek stocks). At 314 sq km, the 100 % owned land package is accessible via the Silver Trail Highway and secondary 4×4 routes, providing a logical extension corridor for future exploration.

Strategic Analysis

• Capital Allocation: The $1.00 option price is markedly below current market valuations, suggesting a deliberate effort to retain talent and incentivize exploration output. However, the dilution impact—potentially adding ~2 % to the fully‑diluted share count—must be weighed against the projected upside from resource expansion.
• Resource Quality: AurMac’s combined indicated and inferred gold resources exceed 7.7 Moz, placing the project among the larger high‑grade Yukon assets. The inferred tier, while less certain, provides a sizable upside if upgraded through infill drilling.
• Infrastructure Advantage: Proximity to major highways, power lines and existing camps reduces upfront capital expenditures relative to remote Arctic projects, accelerating the path to a pre‑feasibility study.
• Market Context: With gold trading above $2,000/oz and silver above $25/oz, Banyan’s resources are well‑positioned to benefit from a bullish commodities environment. The adopted cost assumptions ($2.50/t mining, $10/t processing) are competitive for pit‑constrained operations in the Yukon.
• Technology Integration: Recent advances in autonomous drilling, drone‑based topographic surveys, and real‑time geochemical mapping could streamline the resource delineation process, lowering exploration risk and shortening the timeline to production.
• Risk Factors: Key uncertainties include permitting timelines, potential environmental constraints, and fluctuating gold prices. The short‑term vesting schedule may create near‑term share‑price pressure, especially if market sentiment is risk‑averse.

Share Information

Banyan Gold trades on the TSX‑Venture Exchange under the ticker “BYN” and on the OTCQB market under “BYAGF”.

Corporate Sign‑off

On behalf of Banyan Gold Corp.

Tara Christie
President & CEO

Cautionary Statement

Neither the TSX Venture Exchange nor the OTCQB market accepts responsibility for the adequacy or accuracy of this release. No regulatory authority has reviewed or endorsed the information contained herein.

Forward‑Looking Information

This release contains forward‑looking statements regarding resource expansion, conversion of inferred to indicated resources, metallurgical recoveries, mining costs and other operational assumptions. Such statements are subject to a variety of risks and uncertainties, including but not limited to, fluctuations in commodity prices, changes in regulatory environments, financing availability, and the inherent technical risk of early‑stage exploration. Actual results may differ materially from those expressed or implied. Banyan does not undertake to update any forward‑looking statements except as required by law.