VANCOUVER, BC / ACCESSWIRE / January 15, 2021 / Banyan Gold Corp. (the “Firm” or “Banyan“) (TSXV:BYN) is happy to announce the voting outcomes of the Firm’s Annual Common and Particular Assembly of Shareholders held on January 14, 2021 (the “Assembly”).

Shareholders accepted the enterprise gadgets of fixing the variety of administrators at 4, together with the election of every director nominee. Detailed voting outcomes are as follows:

Shareholders additionally accepted: (i) the appointment of John J. Geib, Chartered Accountant, because the Firm’s auditors and licensed the administrators to set the auditor’s remuneration; and (ii) a decision approving the renewal of the Firm’s Inventory Possibility Plan.

The voting outcomes for every decision are set out beneath:

Additional info may be present in Banyan Gold’s info round out there on SEDAR at www.sedar.com.

Upcoming Catalysts

January 21, 2021 – AME Roundup 2021 – Digital Presentation
Q1 2020 – Drill outcomes from 2020 program
Q1 2020 – Resume drilling at AurMac Property

Certified Particular person

Paul D. Grey, P.Geo., Vice President of Exploration for the Firm, is a “certified individual” as ‎outlined underneath NI 43-101 and has reviewed and accepted the content material of this information launch.‎

COVID-19 Replace

Banyan has taken proactive measures to guard the well being and security of our staff and communities from COVID 19 and exploration actions in 2021 can have extra security measures in place, following and exceeding all of the suggestions made by the Yukon’s Chief Medical Officer.

About Banyan

Banyan’s major asset AurMac is adjoining to Victoria Gold’s new Eagle Gold Mine, in Canada’s Yukon Territory, which introduced industrial manufacturing on July 1, 2020. The AurMac preliminary useful resource of 903,945 oz Au (see Desk 1 beneath) was introduced in Could 2020. Our main strategic shareholders embrace Osisko Gold Royalties, Sprott Funds, Alexco Useful resource Corp, and Victoria Gold Company. Banyan is targeted on gold exploration initiatives which have the geological potential, measurement of land bundle and proximity to infrastructure that’s advantageous for a mineral undertaking to have potential to develop into a mine. Our Yukon based mostly initiatives each match this mannequin and our goal is to realize shareholder worth by advancing initiatives in our pipeline.

The 173 sq km AurMac Property lies 30 km from Victoria Gold’s Eagle Venture and adjoining to Alexco’s Keno Hill Silver District and is very potential for structurally managed, intrusion associated gold-silver mineralization. The property is positioned adjoining to the primary Yukon freeway and simply off the primary entry street to the Victoria Gold open-pit, heap leach Eagle Gold mine. The AurMac Property advantages from a 3-phase powerline, present Yukon Power Corp. switching energy station and mobile phone protection. Banyan has optioned the properties from Victoria Gold and Alexco respectively with a proper to earn as much as a 100% topic to royalties.

The 2020 Preliminary Mineral Useful resource Estimate ready in accordance with Nationwide Instrument 43-101 (“NI 43-101”) pointers for the AurMac Property is 903,945 ‎ounces of gold. It’s a close to floor, street accessible pit constrained Mineral Useful resource contained in two close to/on-surface deposits: The Airstrip and Powerline deposits. The Mineral Useful resource is summarized in Desk 1 beneath.

Desk 1: Pit-Constrained Inferred Mineral Sources at a 0.2 g/t Au Minimize-Off – AurMac Property

Notes:

1. The efficient date for the Mineral Useful resource is Could 25, 2020.
2. Mineral Sources which aren’t Mineral Reserves shouldn’t have demonstrated financial viability. The estimate of Mineral Sources could also be materially affected by environmental, allowing, authorized, title, taxation, sociopolitical, advertising, modifications in world gold markets or different related points.
3. The CIM definitions have been adopted for classification of Mineral Sources. The amount and grade of reported inferred Mineral Sources on this estimation are unsure in nature ‎and there was inadequate exploration to outline these inferred Mineral Sources as an ‎indicated Mineral Useful resource and it’s unsure if additional exploration will end in upgrading them to an ‎indicated or measured Mineral Useful resource class.
4. Mineral Sources are reported at a cut-off grade of 0.2 g/t Au, utilizing a US$/CAN$ change charge of 0.75 and constrained inside an open pit shell optimized with the Lerchs-Grossman algorithm to constrain the Mineral Sources with the next estimated parameters: gold worth of US$1,500/ounce, US$1.50/t mining value, US$2.00/t processing value, US$2.50/t G+A, 80% heap leach recoveries, and 45° pit slop.
5. Mineral Useful resource Estimate ready in accordance with 43-101 pointers by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc, with technical report filed July 7,2020.

The Hyland Gold Venture, positioned 70 km NE of Watson Lake, Yukon, alongside the Southeast finish of the Tintina Gold Belt is a sediment hosted, structurally managed, intrusion associated gold deposit, with a big land bundle (over 125 sq km), with the useful resource contained within the Primary Zone space (900 m x 600 m) daylighting at floor and quite a few different recognized floor gold targets. The Primary Zone oxide zone is amenable to heap leach open pit mining, with column leach recoveries of 86%. The undertaking has an present gravel entry street.

Desk 2 reveals the Hyland Primary Zone Indicated Gold Useful resource Estimate, ready in accordance with NI 43-101, at a 0.3 g/t gold equal cutoff, accommodates 8.6 million tonnes grading 0.85 g/t AuEq for 236,000 AuEq ounces with an Inferred Mineral Useful resource of 10.8 million tonnes grading 0.83 g/t AuEq for 288,000 AuEq ounces. NI 43-101 ready by Robert Carne, Allan Armitage and Paul Grey on Could 1, 2018.

Desk 2: Hyland Primary Zone Indicated Gold Useful resource Estimate

Notes: ‎

1. Mineral assets which aren’t mineral reserves shouldn’t have demonstrated financial viability. All figures are rounded to replicate the relative accuracy of the estimate.
2. Mineral assets are reported at a cut-off grade of 0.3 g/t AuEq. AuEq grade is predicated on $1,350.00/oz Au, $17.00/oz Ag and assumes a 100% restoration. The AuEq calculation doesn’t apply any adjustment components for distinction in metallurgical recoveries of gold and silver. This info can solely be derived from definitive metallurgical testing which has but to be accomplished.

Banyan trades on the TSX-Enterprise Trade underneath the image “BYN”. For extra info, please go to the company web site at www.BanyanGold.com or contact the Firm.

ON BEHALF OF BANYAN GOLD CORPORATION

(signed) “Tara Christie”
Tara Christie
President & CEO

For extra info, please contact:
Tara Christie
Tel: (888) 629-0444
E-mail: [email protected]

David Rutt
Tel: (888) 629-0444
E-mail: [email protected]

CAUTIONARY STATEMENT: Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch. No inventory change, securities fee or different regulatory authority has accepted or disapproved the knowledge contained herein. This information launch accommodates forward-looking info, which isn’t comprised of historic details. Ahead-looking info includes dangers, uncertainties and different components that might trigger precise occasions, outcomes, efficiency, prospects and alternatives to vary materially from these expressed or implied by such forward-looking info. Ahead wanting info on this information launch contains, however just isn’t restricted to, Banyan’s aims, targets or future plans, statements concerning exploration expectations, exploration or growth plans and mineral useful resource estimates. Components that might trigger precise outcomes to vary materially from such forward-looking info embrace, however usually are not restricted to, uncertainties inherent in useful resource estimates , capital and working prices various considerably from estimates, the preliminary nature of metallurgical take a look at outcomes, delays in acquiring or failures to acquire required governmental, environmental or different undertaking approvals, political dangers, uncertainties regarding the supply and prices of financing wanted sooner or later, modifications in fairness markets, inflation, modifications in change charges, fluctuations in commodity costs, delays within the growth of initiatives and the opposite dangers concerned within the mineral exploration and growth trade, enhanced dangers inherent to conducting enterprise in any jurisdiction, and people dangers set out in Banyan’s public paperwork filed on SEDAR. Though Banyan believes that the assumptions and components utilized in getting ready the forward-looking info on this information launch are affordable, undue reliance shouldn’t be positioned on such info, which solely applies as of the date of this information launch, and no assurance may be on condition that such occasions will happen within the disclosed time frames or in any respect. Banyan disclaims any intention or obligation to replace or revise any forward-looking info, whether or not on account of new info, future occasions or in any other case, apart from as required by legislation.

Statements on this information launch concerning Banyan which aren’t historic details are “forward-looking statements” that contain dangers and uncertainties. Such info can typically be recognized by way of forwarding-looking wording corresponding to “might”, “will”, “count on”, “estimate”, “anticipate”, “intend”, “consider” and “proceed” or the destructive thereof or related variations.

SOURCE: Banyan Gold Corp.

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