Banyan Gold Announces Property Acquisition from Generic Gold

VANCOUVER, BC / ACCESS Newswire / June 3, 2026 / Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V:BYN) (OTCQB:BYAGF) is pleased to announce that it has entered into a definitive agreement with Generic Gold Corp. ("Generic Gold") to acquire a 100% interest in Generic Gold's entire Yukon exploration portfolio, comprising 2,158 claims across the Goodman, Seattle, VIP, Summit and Livingstone claim blocks (collectively, the "Properties"), in the prospective Tintina Gold Belt, for all-share consideration of $3,000,000 (the "Transaction").

"The acquisition of the Generic Gold properties expands Banyan's exploration pipeline in the Yukon and provides our exploration team with a portfolio of drill-ready and early-stage gold targets to which we can apply the geological, geophysical and structural models developed internally," said Tara Christie, President and CEO. "We have opportunity to leverage our district scale geologic dataset and apply the exploration targeting strategies developed at AurMac and Nitra across our expanded project portfolio. The timing of this acquisition will allow Banyan to utilize existing logistical support to rapidly deploy preliminary exploration efforts in the Goodman and Seattle areas and then across all of our projects."

Transaction Terms

Under the terms of the definitive agreement, Banyan will acquire 100% of the Properties in consideration for the issuance of 2,142,857 common shares of Banyan (the "Consideration Shares") at a deemed price of $1.40 per share. The Consideration Shares will be subject to a statutory four-month-and-one-day hold period under applicable Canadian securities laws and a contractual 1year hold period.

The Properties are being acquired free and clear of royalties and encumbrances, other than a 1% net smelter returns royalty on specific claims.

Closing of the Transaction is subject to customary conditions, including the approval of the TSX Venture Exchange.

Strategic Rationale

The Properties constitute the entirety of Generic Gold's Yukon quartz exploration portfolio and represent a contiguous and non-contiguous land position of approximately 350 squares kilometres across the Tintina Gold Belt, a highly prospective gold belt that hosts multiple producing mines, past-producing mines and advanced gold development projects. The Properties span a range of exploration stages, from drill-ready targets with historical drill intercepts to early-stage prospects defined by surface geochemistry and geophysics, providing Banyan with an exploration pipeline. Several of the acquired claim blocks are situated in close proximity to significant gold projects in the Yukon, including Fuerte Metals Coffee project, the Eagle Gold mine, White Gold's Golden Saddle project, Western Copper & Gold's Casino project, and Banyan Gold's flagship AurMac deposit which has an Indicated Mineral Resource of 3.64 million oz of gold (167.3 M tonnes at 0.68 g/t Au) and an Inferred Mineral Resource of 4.98 M oz of Au (267.2 M tonnes at 0.58 g/t Au) (as defined in the 2014 Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards for Mineral Resources & Mineral Reserves incorporated by reference into NI 43‑101) (Figure 1).

The geological settings of the Goodman-Seattle Properties include lithologies and structural environments analogous to those hosting gold mineralization at AurMac, Raven, and Eagle Mine, including similar prospectivity to Nitra for intrusion-related gold systems associated with Cretaceous Tombstone Plutonic Suite intrusions, their associated mineralized aureoles, and Keno-style mineralization. The close proximity to AurMac and Nitra will allow Banyan to leverage our existing extensive camp infrastructure and logistical support to quickly extend exploration efforts to Goodman and Seattle.

The VIP Property is on trend with the Coffee project and has potential for orogenic gold mineralization within metasedimentary host rocks. Promising initial surface sampling has identified potential targets in similar geologic settings to the Coffee Gold deposit. Follow-up sampling, geophysical surveys, and rigorous data processing and interpretation is a first step in assessing and identifying potential drill targets in the area.

Banyan intends to compile and review the technical database for each remaining claim block, apply the geological, geophysical and structural exploration models developed at AurMac and through the extensive exploration background of the technical team, and prioritize follow-up work programs, including target generation, surface sampling, geophysical surveys, and drill testing.

Qualified Persons

Duncan Mackay, M.Sc., P.Geo., 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 in respect of all disclosure other than the MRE.‎ Mr. Mackay is Vice President Exploration for Banyan and has verified the data disclosed in this news release, including the sampling, ‎‎analytical and test data underlying the information.

About Banyan

Banyan's primary asset, the AurMac Project is located in the Traditional Territory of First Nation of Na-Cho Nyäk Dun, in Canada's Yukon Territory. The current Mineral Resource Estimate ("MRE") for the AurMac Project has an effective date of May 15, 2026 and comprises an Indicated Mineral Resource of 3.639 million ounces of gold ("Au") (167.3 M tonnes at 0.68 g/t) and an Inferred Mineral Resource of 4.985 Moz of Au (267.2 M tonnes at 0.58 g/t ) (as defined in the 2014 CIM Definition Standards for Mineral Resources & Mineral Reserves incorporated by reference into NI 43‑101). The 303 square kilometres ("sq km") AurMac Project lies 40 kilometres from Mayo, Yukon. The AurMac Project is transected by the main Yukon highway and benefits from a 3-phase powerline, existing power station and cell phone coverage.

In addition to the AurMac Project, the Company holds the Hyland Gold Project, located 70 km Northeast of Watson Lake, Yukon, along the Southeast end of the Tintina Gold Belt (the "Hyland Project") in the Traditional Territory of the Kaska Nations, closest to the Liard First Nation and Daylu Dena Council. The Hyland Project represents a sediment hosted, structurally controlled, intrusion-related gold deposit, within a large land package (over 125 sq km), accessible by a network of existing gravel access roads. The updated MRE comprises an Indicated Mineral Resource of 337 thousand ("K") ounces ("oz") of gold ("Au") and 2.63 million ("M") oz of silver ("Ag") (11.3 M tonnes at 0.93 g/t Au and 7.27 g/t Ag), and an Inferred Mineral Resource of 118 Koz of Au and 0.86 Moz Ag (3.9 M tonnes at 0.95 g/t Au and 6.94 g/t Ag) (as defined in the 2014 CIM Definition Standards for Mineral Resources & Mineral Reserves incorporated by reference into NI 43‑101) effective September 1, 2025 and with technical report filed on Sedar on October 27, 2025.

Banyan also holds the Nitra Gold Project, a grassroots exploration project located in the Mayo Mining district, approximately 10 km west of the AurMac Gold property. The Nitra Property lies in the northern part of the Selwyn basin and is underlain by metaclastic rocks of the Late Proterozoic Yusezyu Formation of the Hyland Group, similar to lithologies hosting portions of the AurMac Project. Middle Cretaceous Tombstone Plutonic suite intrusions occur along the property including the Morrison Creek and Minto Creek stocks. The property is 100% owned and operated by Banyan Gold Corp. ("Banyan") and covers approximately 313.9 sq km. The property is accessible by road along the Silver Trail Highway, South McQuesten Road and 4x4 roads.

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.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

FORWARD LOOKING INFORMATION: This 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 prospective nature of the properties being acquired; mineral recoveries and anticipated mining costs. Factors that could cause actual results to differ materially from such forward-looking information include 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, 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.

SOURCE: Banyan Gold Corp.