Banyan Files Amended Technical Report on AurMac and Provides an Update on Hyland

Rhea-AI Summary

Banyan Gold Corp (TSXV:BYN)(OTCQB:BYAGF) has filed an amended technical report for its AurMac Property in the Mayo Mining District, dated May 23, 2025, following a review by the British Columbia Securities Commission. The amendments include additional disclosures on the Nitra Property, data verification, and various technical clarifications, though the resource estimate remains unchanged. The company also announced that its Hyland Project's mineral resource is currently stale dated and not supported by a compliant NI 43-101 technical report. Banyan plans to file an updated Technical Report for the Hyland Project in the future, and investors are advised not to rely on the current Hyland resource estimates until verified by a new technical report.

Positive

• None.

Negative

• Hyland Project's mineral resource is stale dated and not compliant with NI 43-101 standards
• Company had to amend technical report due to regulatory review

VANCOUVER, BC / ACCESS Newswire / May 30, 2025 / Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF) announces today that, as a result of a review by staff of the British Columbia Securities Commission ("BCSC"), the Company is issuing the following news release regarding disclosure on the AurMac and Hyland Projects.

In connection with the review, the Company has filed an amended technical report entitled "Technical Report AurMac Property Mayo Mining District," dated May 23, 2025, with an effective date of February 6, 2025, prepared by Dino Pilotto P.Eng, Marc Jutras P.Eng, M.A.Sc, and Deepak Malhotra PhD, QP. Furthermore, the Company will be filing an updated Technical Report on the Hyland Project in the future; however, during the interim, the mineral resource on Hyland is stale dated and not supported by a compliant NI 43-101 technical report, and that the mineral resource should not be relied on until it has been verified and supported by a technical report.

The Company is amending the AurMac technical report to include: (i) disclosure on the Nitra Property; (ii) additional disclosure on Data Verification; (iii) the retraction, clarification and additions of disclosures pursuant to NI 43-101; (iv) revision and clarifications of consents of the qualified persons; and, (v) revisions to include technical information from the appendices into the report. There is no change to the size or scope of the AurMac resource estimate.

The AurMac technical report is available under the Company's profile on SEDAR+ and on the Company's website.

Qualified Persons

Duncan Mackay, P.Geo., VP of Exploration for Banyan Gold, is a "Qualified Person" as ‎defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101"), and has reviewed and approved the content of this news release.

About Banyan

Banyan trades on the TSX-Venture Exchange under the symbol "BYN" and is quoted on the OTCQB Venture Market under the symbol "BYAGF". For more information, please visit the corporate website at or contact the Company.

ON BEHALF OF BANYAN GOLD CORPORATION

(signed) "Tara Christie"

Tara Christie
President & CEO

For more information, please contact:
Tara Christie • 778 928 0556 • tchristie@banyangold.com
Jasmine Sangria • 604 312 5610 • jsangria@banyangold.com

CAUTIONARY STATEMENT: Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) nor OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING INFORMATION: This news release contains forward-looking information, which is not comprised of historical facts and is based upon the Company's current internal expectations, estimates, projections, assumptions and beliefs. Such information can generally be identified by the use of forwarding-looking wording such as "may", "will", "expect", "estimate", "anticipate", "intend(s)", "believe", 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 filing an updated Hyland Technical Report. Factors that could cause actual results to differ materially from such forward-looking information include uncertainties inherent in resource estimates, the preliminary nature of metallurgical test results, timing delays, and the other risks involved in the mineral exploration and development industry 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.

SOURCE: Banyan Gold Corp.

View the original press release on ACCESS Newswire

FAQ

What changes were made to Banyan Gold's (BYAGF) AurMac technical report?

The amended report includes new disclosures on the Nitra Property, additional data verification, NI 43-101 clarifications, revised qualified persons consents, and technical information from appendices, though the resource estimate size remains unchanged.

What is the current status of Banyan Gold's Hyland Project resource estimate?

The Hyland Project's mineral resource is currently stale dated and not supported by a compliant NI 43-101 technical report. Investors are advised not to rely on it until a new technical report is filed.

When will Banyan Gold (BYAGF) file the updated Hyland Technical Report?

The company stated it will file an updated Technical Report on the Hyland Project in the future, but no specific date was provided.

Did the AurMac resource estimate change with the amended technical report?

No, there was no change to the size or scope of the AurMac resource estimate with the amended technical report.