Banyan Gold Corp. announced that the Company has confirmed a district scale mineralization trend of over five (5) kilometres ("km") of mineralization on the AurMac Property (the "Property"), Yukon Territory. Hole AX-22-365 intersected a broad zone of gold mineralization from surface in a two (2) km step-out east of the Aurex Hill deposit.

The Hole averaged 0.48 g/t Au over 45.0 metres ("m") from surface; which underscores the extensive mineralized system of the AurMac Property. These results from DDH AX-22-365 taken with drill results from this year's Powerline and Aurex Hill drilling suggest a large mineralized system of over five (5) km of strike length. This latest result fits with the current interpretation of the mineralization controls on the Property and this interpretation is supported by known geology and geophysical interpretations.

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.

Banyan started its 2022 exploration program on January 26 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. 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.