Banyan Gold Corp. announced that it has completed the 75% earn in on the McQuesten Property, comprised of 73 claims, which contains the Airstrip Deposit and part of the Powerline Deposit of the AurMac Project (total 907 claims). Banyan has completed all the exploration expenditure requirements to earn 100%.

Furthermore, the Company owns 51% of the Aurex Property (433 claims), which contains the majority of the Powerline Deposit and the Aurex Hill Deposit. Banyan has until December 2025 to formalize the Aurex 75% ownership and has also completed all the exploration expenditures to earn 100%. The remaining 401 claims of the AurMac Project are 100% owned by Banyan.

Banyan's primary asset, the AurMac Project is adjacent to Victoria Gold's Eagle Gold Mine, in Canada'sYukon Territory. The updated Mineral Resources Estimate ("MRE") for the AurMac Project of 6.2 million ounces has an effective date of May 18, 2023. The 173 square kilometres ("sq km") AurMac Project lies 30 kilometres ("km") from Victoria Gold's Eagle Project and adjacent to Hecla Mining's high grade Keno Hill Silver mine.

The Project is transected by the main Yukon highway and access road to the Victoria Gold open-pit, heap leach Eagle Gold mine. The AurMac Project benefits from a 3-phase powerline, existing power station and cell phone coverage. Banyan has a right to earn up to a 100% interest, in both the Aurex and McQuesten Properties, subject to certain royalties.

The Updated MRE for the AurMac Project was effective on May 18, 2023 and consisted of 6,181,000 ounces of gold.