VANCOUVER - Banyan Gold Corp. (the 'Company' or 'Banyan') (TSXV: BYN) (OTCQB: BYAGF) is pleased to announce the analytical results from the first nine (9) diamond drill holes completed in the Company's 2022 exploration program at the Powerline deposit located on the Company's AurMac Property.

Assay highlights include: 32.1 metres ('m') of 0.78 g/t Au from surface (13.7 m) in DDH AX-22-205, 34.8 m of 1.07 g/t Au from surface (7.9 m) in DDH AX-22-206, 33.9 m of 0.74 g/t Au from 54.2 m in DDH AX-22-207, 22.5 m of 1.07 g/t Au from 22.5 m in DDH AX-22-208

'These initial results from 2022 diamond drilling on the AurMac Property have continued where 2021 drilling left off, definition of higher-grade zones within the expanding mineralization footprint of on/near surface gold mineralization at the Powerline.' stated Tara Christie, President & CEO of Banyan. 'To date, over 17,000 m of drilling has been completed and Banyan looks forward to steady results through 2022.'

Results from these first nine (9) 2022 drill holes are consistent with previous exploration drill results at the Powerline Deposit and the areal extent of interpreted gold mineralization from near/on-surface continues to expand with each batch of assay results received.

2022 Exploration Program Update

Banyan initiated its 2022 exploration program on January 26, 2022, and currently has three drills operating on the property. Seventy-Five (75) drill holes and over 17,000 metres ('m') of drilling has been completed to date which together have expanded the mineralization around the Powerline Zone by over 600 m to the east and 1,000 m west from 2021 drilling. The 2022 program will include approximately 80% of exploration drilling focused on expansion of the mineralization at Powerline and testing the interpreted mineralization connected with the Aurex Hill zone and a commiserate 20% targeting high priority regional targets on the AurMac and Nitra Properties.

Analytical Method and Quality Assurance/Quality Control Measures

All drill core splits reported in this news release were analysed by Bureau Veritas Minerals of Vancouver, B.C. utilizing the aqua regia digestion ICP-MS 36-element AQ200 analytical package with FA450 50-gram Fire Assay with AAS finish for gold on all samples. 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 Bureau Veritas, Whitehorse preparatory laboratory where samples are prepared and then shipped to Bureau Veritas's Analytical laboratory in Vancouver, B.C. for pulverization and final chemical analysis. A robust system of standards, 1/4 core duplicates and blanks was implemented in the 2022 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 initial resource for the AurMac Property 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. 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 optioned the properties from Victoria Gold and Alexco, respectively, with a right to earn up to a 100% interest, subject to royalties.

The Initial Mineral Resource Estimate for the AurMac Property was prepared in 2020 and consisted of 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 deposit and the Powerline Deposit.

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', 'potential' 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 Company's plans for drilling this year and 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, continuity and extent of mineralization, 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.

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