VANCOUVER - Banyan Gold Corp. (the 'Company' or 'Banyan') (TSXV: BYN) is pleased to release analytical results from the next five (5) additional diamond drill holes received from the 2021 exploration campaign at the rapidly developing Powerline Deposit at the Company's AurMac Property in the Yukon Territory.

Assay highlights from the latest batch of assays received from the 2021 exploration campaign at the Powerline Deposit include: 84.5 metres ('m') of 1.32 g/t Au from surface (10 m) in DDH AX-21-151 o Including 72.5 m of 1.53 g/t Au from 22 m o Including 3.1 m of 19.5 g/t Au from 76.2 m

79.7 m of 0.43 g/t Au from 43.3 m in DDH AX-21-136

51.8 m of 0.60 g/t Au from surface (4.2 m) in DDH AX-21-159

'Assays from these 100 m centered drill holes continue to demonstrate the on-surface and near-surface gold mineralization potential of the Powerline Deposit, as well as the continuity of the mineralization across this growing zone.' stated Tara Christie, President and CEO. 'Field crews are currently preparing to resume drilling at the AurMac Property this month with a focus to follow up on the encouraging 2021 Powerline Deposit results through further expansion of the mineralized footprint.'

Results from the latest five (5) drill holes reported herein are consistent with previous exploration drill campaigns at the Powerline Deposit. The areal extent of interpreted gold mineralization from surface continues to expand with every new drill hole; from the initial 250 m by 250 m of the Powerline Resource, to now well over 2 km x 2 km.

Analytical Method

All drill core splits reported in this news release were analysed at SGS Canada in Vancouver, BC utilising their GE_IMS21B20 analytical package which comprises a two-acid aqua regia digestion followed by a 36-element ICP-MS scan, in conjunction with the GE_FAA30V5 30g Fire Assay with AAS finish for gold on all samples. Samples with gold content exceeding the analytical thresholds of this package were reanalysed utilising an additional 30g Fire Assay Gravimetric Finish (SGS Package GO_FAG30V). All core samples were split on-site at Banyan's core processing facilities. Once split, half samples were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Samples were delivered by Banyan personnel or a dedicated expediter to the SGS, Whitehorse preparatory laboratory where samples are prepared and then shipped to SGS laboratory in Vancouver, BC for pulverization and final chemical analysis. A robust system of standards, 1/4 core duplicates and blanks was implemented in the 2021 exploration drilling program and was monitored as chemical assay data became available.

COVID-19 Update

Banyan continues to take proactive measures to protect the health and safety of our Yukon communities, our contractors and our employees from COVID 19. Exploration activities will continue to have additional safety measures in place, regularly updated to follow and exceed all the recommendations of Yukon's Chief Medical Officer.

About Banyan

Banyan's primary asset, the AurMac Property is comprised of the Aurex and McQuesten properties, as well as claims staked and owned 100% by Banyan Gold, and adjacent to Victoria Gold's Eagle Gold Mine, in Canada's Yukon Territory. The AurMac Property initial resource of 903,945 oz Au was announced in May 2020. Our major strategic shareholders include Franklin Gold and Precious Metals Fund, Osisko Development, and Victoria Gold Corporation. Banyan is focused on gold exploration projects that have the geological potential, size of land package and proximity to infrastructure that is advantageous for a mineral project to have potential to become a mine. Our Yukon based projects both fit this model and our objective is to gain shareholder value by advancing projects in our pipeline.

The 173 sq km AurMac Property lies 30 km from Victoria Gold's Eagle Project and adjacent to the Keno Hill Silver District operated by Alexco Resource Corp. ('Alexco') and is highly prospective for structurally controlled, intrusion related gold-silver mineralization. The property is located adjacent to the main Yukon highway and just off the main access road to the Victoria Gold open-pit, heap leach Eagle Gold mine. The AurMac Property benefits from a 3-phase powerline, existing Yukon Energy Corp. switching power station and cell phone coverage. Banyan has optioned the properties from Victoria Gold and Alexco respectively with a right to earn up to a 100% subject to royalties.

The 2020 Initial Mineral Resource Estimate for the AurMac Property prepared in accordance with the requirements of NI 43-101 is 903,945 ounces of gold. It is a near surface, road accessible pit constrained Mineral Resource contained in two near/on-surface deposits: the Airstrip and Powerline deposits.

The Hyland Gold Project, located 70 km Northeast of Watson Lake, Yukon, along the Southeast end of the Tintina Gold Belt is a sediment hosted, structurally controlled, intrusion related gold deposit, with a large land package (over 125 sq km), with the resource contained in the Main Zone area (900 m x 600 m) daylighting at surface and numerous other known surface gold targets. The Main Zone oxide zone is amenable to heap leach open pit mining, with column leach recoveries of 86%. The project has an existing gravel access road.

Contact:

Tara Christie

Tel: 778 928 0556

Email: tchristie@banyangold.com

FORWARD LOOKING INFORMATION

This news release contains forward-looking information, which is not comprised of historical facts. Such information can generally be identified by the use of forwarding-looking wording such as 'may', 'will', 'expect', 'estimate', 'anticipate', 'intend', 'believe' 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 news release includes, but is not limited to, the potential for the Powerline Deposit to host on-surface and near-surface gold mineralization; the future expansion of the mineralized footprint at the Powerline Deposit; the expected timing of the remaining assay results from the 2021 exploration program; future drilling at the AurMac Property and the expected timing thereof; the timing and expected scope of the planned 2022 AurMac Property exploration program; Banyan's objectives, goals or future plans; statements regarding exploration expectations, exploration or development plans and mineral resource estimates. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, uncertainties inherent in resource estimates, 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, delays in the development of projects 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. Banyan 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.

(C) 2022 Electronic News Publishing, source ENP Newswire