Banyan Gold Corp. announced the analytical results from the next thirty-seven (37) diamond drill holes received - all holes were collared during the Company's 2022 exploration program at the Powerline and Aurex Hill deposits located on the Company's AurMac Property, Yukon Territory. Assay highlights from this most recent batch of assays received include: 62.2 metres of 0.59 g/t Au from 269.5 m in DDH AX-22-306; 32.5 m of 0.69 g/t Au from 52.4 m in DDH AX-22-312; 45.4 m of 0.57 g/t Au from 115.8 m in DDH AX-22-321; 47.7 m of 0.70 g/t Au from 47.7 m in DDH AX-22-323; 46.9 m of 0.65 g/t Au from 149.4 m in DDH AX-22-333; 66.5 m of 0.36 g/t Au from surface (4.6 m) in DDH AX-22-341; 34.8 m of 1.02 g/t Au from 153.9 m in DDH AX-22-346; 42.9 m of 0.80 g/t Au from 100.0 m in DDH AX-22-354; 63.8 m of 0.69 g/t Au from 160.2 m in DDH AX-22-357; 55.5 m of 0.45 g/t Au from 121.9 m in DDH AX-22-358; 144.8 m of 0.30 g/t Au from 12.2 m in DDH AX-22-360; and 143.2 m of 0.31 g/t Au from 18.3 m in DDH AX-22-362.

Results from this set of thirty-seven (37) 2022 drill holes are consistent with previous exploration drill results at the Powerline and Aurex Hill Deposits and the areal extent of interpreted gold mineralization continues to be confirmed and expanded with each batch of assay results received. The Powerline and Aurex Hill gold deposits are contained within a metasedimentary package consisting of predominately schists, quartzites and limestones of the Late Proterozoic to Cambrian Hyland Group. Gold mineralization here is chiefly associated with low angle quartz-sulfosalt-arsenopyrite veins seen crosscutting all lithologies and is interpreted to be associated with a large intrusion related gold system typical of the Tombstone Gold Belt and Selwyn Basin gold deposits.

A strong bismuth-gold association has been identified at AurMac and is currently being utilized to establish exploration vectors over the property. 2022 Exploration Program: Banyan started its 2022 exploration program on January 26th and shut down its camp in early December, with a total of two-hundred-eleven (211) drill holes culminating in over 50,000 m of drilling designed to expand the mineralization around the Powerline and Aurex Hill Deposits. 2023 Exploration and Development Plans: The 2023 exploration and development plans are being developed by the Banyan's technical and management team.

Drilling at AurMac will include a Phase 1 program of 25,000 m of drilling commencing in March with three (3) drills. The 2023 program will be aided by the on-site preparatory lab, which will reduce assay times and help to target and refine drilling during the season. The 2023 program will include an expanded metallurgical, geotechnical and baseline environmental programs.