Ms. Tara Christie reports

BANYAN GOLD CLOSES $54.3 MILLION FINANCING

Banyan Gold Corp. has closed its previously announced brokered private placement pursuant to which it has issued an aggregate of 23,156,500 common shares of the company at a price of $2 per share, for gross proceeds of $46,313,000. The offering was conducted pursuant to an agency agreement dated Sept. 29, 2026, between the company and Canaccord Genuity Corp., as lead agent and sole bookrunner, together with a syndicate of agents including Scotia Capital Inc., BMO Nesbitt Burns Inc., ATB Capital Markets Corp., Desjardins Securities Inc., Paradigm Capital Inc., CIBC World Markets Inc. and National Bank Financial Inc.

Concurrently with the closing of the offering, the company also issued an aggregate of four million shares on a non-brokered private placement basis at a price of $2 per share, to raise additional gross proceeds of $8-million.

Tara Christie, president and chief executive officer of Banyan, commented: "We are very pleased to welcome Franco-Nevada as a new shareholder of Banyan, and thank all of our existing and new shareholders for their strong support. This financing strengthens Banyan's financial position, allowing us to rapidly advance AurMac and Nitra through 2028, including drilling, engineering and permitting what is one of Canada's largest gold deposits."

The net proceeds from the sale of the shares pursuant to the offering and concurrent offering will be used for advancement of the company's Yukon projects, and general corporate and working capital purposes.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the shares issued pursuant to the offering were offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 as amended and supplemented by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. Accordingly, the shares sold pursuant to the offering are not subject to a hold period pursuant to applicable Canadian securities laws. The shares sold pursuant to the concurrent offering are subject to a statutory hold period expiring Jan. 30, 2027, pursuant to applicable Canadian securities laws. The offering and concurrent offering remain subject to the final approval of the TSX Venture Exchange.

Insiders of the company have purchased, directly or indirectly, an aggregate of 250,000 shares pursuant to the concurrent offering, as a result of which the concurrent offering is a related party transaction under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the concurrent offering, insofar as it involves the related parties, exceeded 25 per cent of the company's market capitalization (as determined under MI 61-101).

About Banyan Gold Corp.

Banyan's primary asset, the AurMac project, is located in the traditional territory of the First Nation of Na-Cho Nyak Dun in Canada's Yukon. The AurMac project comprises two main deposits, the Airstrip and Powerline deposits.

In addition to the AurMac project, the company holds the Hyland gold project, located 70 kilometres northeast of Watson Lake, Yukon, along the southeast end of the Tintina gold belt in the traditional territory of the Kaska Nations, closest to the Liard First Nation and Daylu Dena Council.

Banyan also holds the Nitra gold project and Seattle-Goodman Creek project, which are grassroots exploration projects located in the Mayo mining district, adjacent to the AurMac gold project. These properties lie in the northern part of the Selwyn basin and are 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 properties, including the Morrison Creek and Minto Creek stocks. The properties are 100 per cent owned by Banyan and cover over 530 square kilometres. The properties are accessible by road along the Silver Trail Highway, South McQuesten Road and a network of other smaller roads across the properties.

Banyan trades on the TSX Venture Exchange under the symbol BYN and is quoted on the OTCQB Venture Market under the symbol BYAGF.

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