Banyan Gold Corp. announced the completion of the Royalty Purchase Agreement (the "Royalty Purchase Agreement") from the Estate of Jim McFaull ("the Vendor"), whereby Banyan Gold has purchased 100% of the Vendor's royalty interest on 97 claims, known as the McFaull Claims, within the Aurex Claim Block of the AurMac Property. The Vendor had been granted Royalty Interests under a Net Smelter Royalty Agreement dated November 23, 1992.

The McFaull Claims cover key target areas on the AurMac Property and include portions of the Company's Powerline and Aurex Hill deposits. Under the terms of the Royalty Purchase Agreements, Banyan Gold will jointly establish a scholarship in partnership with Jim McFaull's brothers, Gordon and William McFaull, in the name of Jim McFaull and Banyan Gold, at the Yukon Foundation, for students studying in fields related to geology and mining. The scholarship plans to award $5,000 annually to a successful candidate.