Banyan Gold Corp. (the 'Company' or 'Banyan') (TSXV: BYN)(OTCQB:BYAGF) is pleased to announce the commencement of the 2023 exploration program at its AurMac Property, located in the Mayo Mining District, Yukon, and the addition of Brad Thrall as technical advisor.

Banyan is on track for the planned Resource update to demonstrate our progress, and with the resumption of drilling, we feel the excitement of the early days of exploration poised for additional discoveries. Our geological and structural interpretations indicate that the deposits remain open with considerable growth potential,' stated Tara Christie, President & CEO of Banyan. 'Additionally, as we advance towards development, we are building our team in key areas with Brad Thrall bringing advice and experience in metallurgy, permitting and building mines in the Yukon.'

Exploration at the AurMac Property has now resumed with three (3) diamond drill rigs working on an initial planned 25,000 metre ('m') drill program for 2023. The 2023 program will include expanded metallurgical, geotechnical and baseline environmental programs, and is now supported by an on-site prep lab.

In 2022, step-out drilling to the east and west of the Powerline and Aurex Hill resources identified a near/on-surface zone of gold trend that is interpreted to have grade continuity over a total of five (5) kilometres ('km') of strike length. Structural interpretations have identified an important lineament that is coincident with a change in the orientation of gold mineralization trends between Powerline and Aurex Hill. The initial focus of the 25,000 m drill program will be to close the gap between Powerline Deposit and Aurex Hill deposit while also testing for a mineralized structure separating the two deposits. Continuing to drill test East Aurex Hill will also be a drilling priority following up on the trend outlined by DDH AX-22-320 and DDH AX-22-364 which returned 84.4 m of 1.13 g/t Au from 22.8 m (news release - November 7, 2022) and 30.5 m of 1.48 g/t Au from 28.3 m (news release - February 27, 2023), respectively.

Additionally, two East-West oriented trends have been identified through both Powerline and Aurex Hill Deposits. 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.

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, and adjacent to Victoria Gold's Eagle Gold Mine, in Canada's Yukon Territory. The updated resource for the AurMac Property of 3,990,000 ounces was announced on May 17, 2022.

The 173 square kilometres ('sq km') AurMac Property lies 30 km from Victoria Gold's Eagle Project and adjacent to Hecla Mining's high grade Keno Hill Silver mine. The AurMac Property is transected by the main Yukon highway and access road to the Victoria Gold open-pit, heap leach Eagle Gold mine. The AurMac Property 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.

Contact:

Tara Christie

Tel: 778 928 0556

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', '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 exploration and statements regarding exploration expectations, exploration or development plans and timelines and mineral resource estimates and anticipated costs. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, receipt of regulatory approvals, 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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