Banyan Expands Indicated and Inferred Mineral Resource Estimate and Improves Grade at AurMac Deposit, Yukon, Canada

2026-05-19

TSXV - TSX Venture Exchange · Gold · Silver · Canada · Resource Estimate

VANCOUVER, BC / ACCESS Newswire/ May 19, 2026 / Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF) is pleased to announce its new Mineral Resource Estimate ("MRE" or the "Mineral Resource") prepared in accordance with the National Instrument 43-101, Standards for Disclosure for Mineral Projects ("NI-43-101") for the AurMac Project ("AurMac" or the "Project"), Yukon Territory. The updated MRE incorporates an additional 42,000 metres ("m") from 178 diamond drill holes within the Airstrip and Powerline deposits at AurMac (Figure 1). This MRE will support the upcoming Preliminary Economic Assessment ("PEA"; expected second half of 2026) with increases in total indicated and inferred mineral resources from the 2025 MRE.

Highlights:

2026 AurMac Mineral Resource update:

Indicated 3.64 million ("M") ‎ ounces ("oz") of gold ("Au") (167.3 M tonnes at 0.68 g/t Au);

Inferred 4.98 M ozof gold (267.2 M tonnes at 0.58 g/tAu) (see notes; Table 1)

A high-grade portion of the depositat 0.55 g/t Au cut-off with an:

Indicated Mineral Resource of 2.45 M ozat 1.00 g/t Au(75.9 M tonnes) and

Inferred Mineral Resource of 2.72 M ozat 0.96 g/t Au(88.1 M tonnes) (Table 3);

Indicated Mineral Resource grows 60% in contained ounces, with an Indicated grade increase of 8%;

Airstrip: Indicated Mineral Resource up 38% in contained ounces, Inferred Mineral Resource up 65% in contained ounces with grade up 11% (Table 3);

Strong conversion ratio across the deposit, specifically at Powerline where the Indicated Mineral Resource now contains 2.80 M ozat 0.67 g/t Au(129.5 M tonnes), an increase of 68% with a grade increase of 10% (Table 3);

District Scale Potential (District defined by having potential for over 10 million ounces), demonstrated at the 0.25 g/t Au cut-off with an:

Indicated Mineral Resource of 3.93 Mozat 0.61 g/t Au,(200.0 M tonnes) and;

Inferred Mineral Resource of at 5.72 M ozat 0.51 g/t Au(351.3 M tonnes) (Table 3);

Growth Potential; the deposits remain open in all directions, particularly at depth; 70,000 m 2026 drill program ongoing with up to six drills, over 21,000 m completed to date.

The updated MRE comprises an Indicated Mineral Resource of 3.64 million‎oz of gold (167.3 M tonnes at 0.68 g/t Au) and an Inferred Mineral Resource of4.98 M ozof Au (267.2 M tonnes at 0.58 g/tAu) (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). The updated MRE is summarized below in Table 1. The AurMac Project pit-constrained MRE is contained in two near/on-surface deposits: The Airstrip and Powerline deposits. This new MRE exceeds the objectives set out for the 2025 diamond drill campaign at Banyan.

"This is an important achievement for Banyan and our shareholders. More ounces, more indicated ounces, and a higher overall grade, demonstrating consistent performance across all metrics. AurMac is growing in size, confidence, and quality. With the updated Mineral Resource report completed, the focus now shifts to the forthcoming maiden PEA, which will showcase the economic potential of AurMac," stated Tara Christie, President and CEO. "With reference to the grade sensitivity table, with a cut-off of 0.55 g/t Au, contiguous higher-grade cores of the deposit are highlighted by an Indicated Mineral Resource of 2.45 MozAu at 1.00 g/t Auand Inferred Resource of 2.72 Moz Auat 0.96 g/t Au(Table 3). Indicated ounces increased by 60%over the 2025 MRE with an overall gradeincrease of 8%,for a total of 3.64 Moz at 0.68 g/t Au. This increase in Indicated Mineral Resource, coupled with improved overall grade, delivers on a mineral resource that is expected to support a strong Preliminary Economic Assessment in the second half of the year. It also highlights the refined geologic and mineralized domain model to support exploration and economic assessment of the AurMac deposit. The Inferred Mineral Resource now stands at 4.98 Moz Au at 0.58 g/t Au, indicating overall growth of approximately 12%in the AurMac Project."

Gold sensitivity estimations are compiled in Table 3. The relatively small change in total ounces at higher gold prices ($3400-3600/oz) highlights the potential for additional expansion on the edges of the deposit and below the conceptual pit. The current Mineral Resource is primarily limited by the extent of drilling and the deposit remains open in most directions and at depth.

1: Pit-constrained Indicated and Inferred Mineral Resources - AurMac Project

| | Cut-off Grade | Tonnes | Gold Grade | Contained Gold | | | (Au g/t) | (M Tonnes) | (g/t) | (M Oz) | | | Indicated MRE | | | | | Airstrip | 0.30 | 37.7 | 0.69 | 0.840 | | Powerline | 0.30 | 129.5 | 0.67 | 2.799 | | Combined | 0.30 | 167.3 | 0.68 | 3.639 | | | Inferred MRE | | | | | Airstrip | 0.30 | 15.1 | 0.84 | 0.405 | | Powerline | 0.30 | 252.1 | 0.57 | 4.580 | | Combined | 0.30 | 267.2 | 0.58 | 4.985 |

Notes to Table 1:

The effective date for the MRE is May 15, 2026

The Mineral Resource Estimate was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., who is an independent Qualified Person as defined by NI 43-101.

Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues.

The 2014 CIM Definition Standards were followed for classification of Mineral Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature ‎and there has been insufficient exploration to define these Inferred Mineral Resources as an ‎Indicated Mineral Resource. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

Mineral Resources are reported at a cut-off grade of 0.30 g/t gold for all deposits, using a US$/CAN$ exchange rate of 0.73 and constrained within an open pit shell optimized with the Lerchs-Grossman algorithm to constrain the Mineral Resources with the following estimated parameters: gold price of US$3,500/ounce, US$2.75/t mining cost, US$11.50/t processing cost, US$2.00/t G+A, 90% gold recoveries, and 45° pit slopes.

The number of tonnes was rounded to the nearest hundred thousand and ounces rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects.

[](https://app.accessnewswire.com/imagelibrary/9ec1cf86-70ee-462b-87e0-599bdee5d883/image-1.png)Figure 1: Plan Map showing the Mineral Resource Estimate and Drill Collar Locations. Cross and long sections denoted by blue lines

Table 2: Highlighted 0.55 g/t Au cut-off Sensitivity of Pit-constrained Indicated and Inferred Mineral Resources - AurMac Project

| | Cut-off Grade | Tonnes | Gold Grade | Contained Gold | | | (Au g/t) | (M Tonnes) | (g/t) | (M Oz) | | | Indicated MRE | | | | | Airstrip | 0.55 | 17.1 | 1.04 | 0.572 | | Powerline | 0.55 | 58.8 | 0.99 | 1.876 | | Combined | 0.55 | 75.9 | 1.00 | 2.449 | | | Inferred MRE | | | | | Airstrip | 0.55 | 7.0 | 1.33 | 0.300 | | Powerline | 0.55 | 81.1 | 0.928 | 2.418 | | Combined | 0.55 | 88.1 | 0.96 | 2.718 |

Notes: Refer to notes in Table 1 and 3, which provides an excerpt from Table 2 to illustrate the sensitivity of the Mineral Resources at a 0.55 g/t cut-off grade.

[](https://app.accessnewswire.com/imagelibrary/e0c127fd-dc3d-4f76-9bdb-714ec48f6af8/1168265/image-2.png)Figure 2: Graphical Representation of Table 3: Sensitivity to Cut-off Grade of Pit Constrained Indicated and Inferred Mineral Resources for AurMac Deposit (Powerline and AirStrip.).

A technical report prepared in accordance with NI 43-101 supporting the updated Mineral Resource (the "Technical Report") will be filed on SEDAR at www.sedarplus.cawithin 45 ‎days of this release.‎ The pit outlines used to constrain the MRE are shown in Figure 1.

Table 3: Pit-Constrained Indicated and Inferred Mineral Resources for AurMac; Grade Sensitivities are presented for Indicated and Inferred Mineral Resources for Airstrip, Powerline, and combined.

| AIRSTRIP | AIRSTRIP | | | | | | | | INDICATEDMRE - $3500 USD PIT | INFERREDMRE - $3500 USD PIT | | | | | | | | Au Cutoff | Tonnage | Au Grade | Au Content | Au Cutoff | Tonnage | Au Grade | Au Content | | g/t | tonnes | g/t | Oz | g/t | tonnes | g/t | oz | | 0.05 | 122,691,685 | 0.304 | 1,199,167 | 0.05 | 55,353,720 | 0.319 | 567,713 | | 0.10 | 85,062,654 | 0.406 | 1,110,340 | 0.10 | 35,914,865 | 0.452 | 521,920 | | 0.15 | 65,579,805 | 0.490 | 1,033,135 | 0.15 | 26,747,586 | 0.565 | 485,874 | | 0.20 | 53,927,495 | 0.558 | 967,465 | 0.20 | 21,890,912 | 0.652 | 458,883 | | 0.25 | 44,879,075 | 0.626 | 903,253 | 0.25 | 18,107,950 | 0.742 | 431,981 | | 0.30 | 37,723,361 | 0.693 | 840,494 | 0.30 | 15,080,859 | 0.836 | 405,344 | | 0.35 | 31,798,948 | 0.761 | 778,016 | 0.35 | 12,677,891 | 0.933 | 380,294 | | 0.40 | 26,772,697 | 0.834 | 717,876 | 0.40 | 10,940,814 | 1.021 | 359,142 | | 0.45 | 22,953,116 | 0.902 | 665,640 | 0.45 | 9,441,009 | 1.116 | 338,746 | | 0.50 | 19,725,566 | 0.972 | 616,434 | 0.50 | 7,967,230 | 1.234 | 316,092 | | 0.55 | 17,119,311 | 1.040 | 572,414 | 0.55 | 7,030,653 | 1.329 | 300,408 | | 0.60 | 14,813,889 | 1.113 | 530,097 | 0.60 | 6,264,045 | 1.421 | 286,180 | | 0.65 | 12,936,462 | 1.184 | 492,446 | 0.65 | 5,732,615 | 1.495 | 275,540 | | 0.70 | 11,432,759 | 1.251 | 459,832 | 0.70 | 5,082,464 | 1.601 | 261,611 | | 0.75 | 10,133,467 | 1.318 | 429,402 | 0.75 | 4,652,899 | 1.681 | 251,468 | | 0.80 | 9,040,440 | 1.384 | 402,269 | 0.80 | 4,400,150 | 1.734 | 245,306 | | 0.85 | 8,080,980 | 1.451 | 376,984 | 0.85 | 4,158,681 | 1.786 | 238,797 | | 0.90 | 7,243,821 | 1.517 | 353,301 | 0.90 | 3,867,924 | 1.855 | 230,682 | | 0.95 | 6,491,258 | 1.586 | 330,996 | 0.95 | 3,542,294 | 1.940 | 220,942 | | 1.00 | 5,869,897 | 1.651 | 311,579 | 1.00 | 3,323,017 | 2.004 | 214,102 |

| POWERLINE | POWERLINE | | | | | | | | INDICATEDMRE - $3500 USD PIT | INFERREDMRE - $3500 USD PIT | | | | | | | | Au Cutoff | Tonnage | Au Grade | Au Content | Au Cutoff | Tonnage | Au Grade | Au Content | | g/t | tonnes | g/t | Oz | g/t | tonnes | g/t | oz | | 0.05 | 478,633,822 | 0.278 | 4,277,984 | 0.05 | 1,369,335,535 | 0.213 | 9,377,357 | | 0.10 | 336,380,817 | 0.364 | 3,936,621 | 0.10 | 924,753,649 | 0.280 | 8,324,824 | | 0.15 | 245,408,748 | 0.454 | 3,582,093 | 0.15 | 638,700,600 | 0.350 | 7,187,144 | | 0.20 | 190,291,277 | 0.535 | 3,273,133 | 0.20 | 453,159,131 | 0.423 | 6,162,857 | | 0.25 | 155,149,872 | 0.606 | 3,022,839 | 0.25 | 333,211,781 | 0.494 | 5,292,225 | | 0.30 | 129,539,582 | 0.672 | 2,798,741 | 0.30 | 252,108,367 | 0.565 | 4,579,591 | | 0.35 | 109,617,783 | 0.735 | 2,590,355 | 0.35 | 190,905,638 | 0.643 | 3,946,578 | | 0.40 | 92,954,980 | 0.800 | 2,390,857 | 0.40 | 150,528,410 | 0.715 | 3,460,314 | | 0.45 | 79,205,169 | 0.865 | 2,202,727 | 0.45 | 120,567,668 | 0.787 | 3,050,679 | | 0.50 | 67,942,379 | 0.930 | 2,031,490 | 0.50 | 100,104,471 | 0.851 | 2,738,886 | | 0.55 | 58,789,306 | 0.993 | 1,876,889 | 0.55 | 81,059,513 | 0.928 | 2,418,482 | | 0.60 | 51,071,373 | 1.056 | 1,733,933 | 0.60 | 68,527,129 | 0.992 | 2,185,572 | | 0.65 | 44,502,077 | 1.120 | 1,602,468 | 0.65 | 58,164,344 | 1.058 | 1,978,488 | | 0.70 | 38,986,778 | 1.183 | 1,482,836 | 0.70 | 49,743,184 | 1.123 | 1,795,992 | | 0.75 | 34,214,685 | 1.247 | 1,371,734 | 0.75 | 43,143,773 | 1.184 | 1,642,331 | | 0.80 | 30,051,709 | 1.312 | 1,267,634 | 0.80 | 37,810,261 | 1.242 | 1,509,810 | | 0.85 | 26,435,204 | 1.379 | 1,172,028 | 0.85 | 32,768,661 | 1.306 | 1,375,919 | | 0.90 | 23,410,073 | 1.444 | 1,086,828 | 0.90 | 28,975,528 | 1.363 | 1,269,750 | | 0.95 | 20,760,418 | 1.510 | 1,007,869 | 0.95 | 24,836,771 | 1.436 | 1,146,676 | | 1.00 | 18,514,398 | 1.575 | 937,521 | 1.00 | 22,498,464 | 1.484 | 1,073,440 |

| AIRSTRIP+POWERLINE | AIRSTRIP+POWERLINE | | | | | | | | INDICATEDMRE - $3500 USD PIT | INFERREDMRE - $3500 USD PIT | | | | | | | | Au Cutoff | Tonnage | Au Grade | Au Content | Au Cutoff | Tonnage | Au Grade | Au Content | | g/t | tonnes | g/t | Oz | g/t | tonnes | g/t | oz | | 0.05 | 601,325,507 | 0.283 | 5,477,151 | 0.05 | 1,424,689,255 | 0.217 | 9,945,070 | | 0.10 | 421,443,471 | 0.372 | 5,046,961 | 0.10 | 960,668,514 | 0.286 | 8,846,744 | | 0.15 | 310,988,553 | 0.462 | 4,615,228 | 0.15 | 665,448,186 | 0.359 | 7,673,018 | | 0.20 | 244,218,772 | 0.540 | 4,240,598 | 0.20 | 475,050,043 | 0.434 | 6,621,740 | | 0.25 | 200,028,947 | 0.610 | 3,926,092 | 0.25 | 351,319,731 | 0.507 | 5,724,205 | | 0.30 | 167,262,943 | 0.677 | 3,639,235 | 0.30 | 267,189,226 | 0.580 | 4,984,934 | | 0.35 | 141,416,731 | 0.741 | 3,368,371 | 0.35 | 203,583,529 | 0.661 | 4,326,872 | | 0.40 | 119,727,677 | 0.808 | 3,108,733 | 0.40 | 161,469,224 | 0.736 | 3,819,456 | | 0.45 | 102,158,285 | 0.873 | 2,868,366 | 0.45 | 130,008,677 | 0.811 | 3,389,425 | | 0.50 | 87,667,945 | 0.939 | 2,647,924 | 0.50 | 108,071,701 | 0.879 | 3,054,978 | | 0.55 | 75,908,617 | 1.004 | 2,449,303 | 0.55 | 88,090,166 | 0.960 | 2,718,891 | | 0.60 | 65,885,262 | 1.069 | 2,264,030 | 0.60 | 74,791,174 | 1.028 | 2,471,753 | | 0.65 | 57,438,539 | 1.134 | 2,094,913 | 0.65 | 63,896,959 | 1.097 | 2,254,028 | | 0.70 | 50,419,537 | 1.198 | 1,942,668 | 0.70 | 54,825,648 | 1.167 | 2,057,603 | | 0.75 | 44,348,152 | 1.263 | 1,801,137 | 0.75 | 47,796,672 | 1.232 | 1,893,799 | | 0.80 | 39,092,149 | 1.329 | 1,669,903 | 0.80 | 42,210,411 | 1.293 | 1,755,115 | | 0.85 | 34,516,184 | 1.396 | 1,549,011 | 0.85 | 36,927,342 | 1.360 | 1,614,715 | | 0.90 | 30,653,894 | 1.461 | 1,440,129 | 0.90 | 32,843,452 | 1.421 | 1,500,431 | | 0.95 | 27,251,676 | 1.528 | 1,338,865 | 0.95 | 28,379,065 | 1.499 | 1,367,617 | | 1.00 | 24,384,295 | 1.593 | 1,249,101 | 1.00 | 25,821,481 | 1.551 | 1,287,542 |

Notes to Table 3:

The effective date for the MRE is May 15, 2026

The Mineral Resource Estimate was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., who is an independent Qualified Person as defined by NI 43-101.

Table 4: Gold price sensitivity estimations at a 0.30 g/t Au cut-off grade for the 2026 MRE at AurMac

| AIRSTRIP+POWERLINE MRE - 0.3 g/t Au CUT-OFF | | | | | | INDICATED | | | | | | | Constraint | Tonnage | Au Grade | Au Content | | | | tonnes | g/t | oz | | 2025 MRE | $2050 Pit | 112,517,343 | 0.629 | 2,274,397 | | 2026 MRE | $3000 Pit | 165,031,142 | 0.679 | 3,602,156 | | 2026 MRE | $3200 Pit | 165,930,681 | 0.678 | 3,616,438 | | 2026 MRE | $3400 Pit | 166,983,620 | 0.677 | 3,633,120 | | 2026 MRE | $3500 Pit | 167,262,943 | 0.677 | 3,639,235 | | 2026 MRE | $3600 Pit | 167,325,492 | 0.677 | 3,640,594 | | 2026 MRE | $4500 Pit | 168,245,262 | 0.675 | 3,651,697 | | | | | | | | | | | | | | INFERRED | | | | | | | Constraint | Tonnage | Au Grade | Au Content | | | | tonnes | g/t | Oz | | 2025 MRE | $2050 Pit | 280,597,695 | 0.604 | 5,453,428 | | 2026 MRE | $3000 Pit | 241,145,718 | 0.594 | 4,602,103 | | 2026 MRE | $3200 Pit | 253,840,157 | 0.587 | 4,791,122 | | 2026 MRE | $3400 Pit | 261,348,581 | 0.584 | 4,903,460 | | 2026 MRE | $3500 Pit | 267,189,226 | 0.580 | 4,984,934 | | 2026 MRE | $3600 Pit | 269,420,190 | 0.579 | 5,017,255 | | 2026 MRE | $4500 Pit | 279,242,668 | 0.575 | 5,165,589 |

Notes: Refer to notes in Table 1 and 3, which provides an excerpt from Table 2 to illustrate the sensitivity of the Mineral Resources at a 0.55 g/t cut-off grade.

Airstrip Deposit

The Airstrip deposit is delineated by 243 drillholes, representing an increase of 92 drillholes from the June 28, 2025 MRE. Topographic control was from a detailed LIDAR survey dataset.

A total of ten (10) domains were used in the MRE and block model generation for Airstrip. Three (3) discrete mineralized domains (AST_1, CAL_2, and QTZT_Domains) based on lithology, structural controls and other geological features were used as the primary constraint for the MRE (Figure 3). The Airstrip lithological model underpins the mineralized domains and is comprised of seven (7) east-west striking units, with five (5) of the units dipping at 35-40° to the south. Gold mineralization is predominantly hosted in two calcareous metasedimentary packages (CAL1 and CAL2 in Figure 3); the upper unit is roughly 90 m-thick east-west striking and dipping approximately 40° to the south, and a lower unit approximately 10 m thick with the same orientation as the upper unit. A felsic dyke intruded the country rock (approximately 10 m thick with several splays) and strikes approximately 080° and dips 60° to the south. A zone of relatively high-grade gold mineralization is associated with the contact between the calcareous metasediment and the felsic dyke; this zone is near-surface in the north of Airstrip and is open along strike and up-dip, as well as at depth locally.

At a 0.30 g/t gold cut-off, the pit-constrained, Indicated Mineral Resources for the Airstrip deposit are 37.7 million tonnesat an average gold grade of 0.69 g/tfor a total of 840,000 ouncesof gold and Inferred Mineral Resources for the Airstrip deposit are 15.1 million tonnesat an average gold grade of 0.84 g/tfor a total of 405,000 ounces of gold. Cut-off grade sensitivities for the Airstrip deposit are presented in Table 3.

[](https://app.accessnewswire.com/imagelibrary/3e612201-a7e2-4b07-9404-460053776d45/1168265/picture3.png)Figure 3: Cross-section 466750mE across the Airstrip and Powerline deposits at AurMac. Mineralized domains are overlaid on the lithologic model. The MRE block model is constrained by mineralized domains and the lithologic domains. Mineral Resource blocks are 10m x 10m x 5m. only blocks >0.30 g/t au cutoff and within the $3500/oz Au conceptual pit shell are included in the MRE.

Powerline Deposit

The drill data for the Powerline deposit is comprised of 680 diamond drillholes, representing an increase of 80 holes from the June 28, 2025 MRE.

An upgraded geology model was developed at Powerline by the Banyan geology team for this Mineral Resource update. Similar to the Airstrip model, this model update uses detailed lithologic, structural, and other geological controls to define discrete mineralized domains within the broad lithologic units used in the 2025 MRE (Figure 3).

Powerline mineralization is predominantly hosted in 1-3 (up to 25) cm-thick quartz veins which cross-cut lithology. Rheologic contrast (silicification/alteration prep) is the main control on vein emplacement. Certain lithologic domains, which are favourable hosts for quartz veining, are interpreted to act as a broad control on mineralization. Veins in Powerline associated with gold mineralization are discordant relative to stratigraphy and main foliation, with an average of 14° toward an azimuth of 338° and are interpreted as younger, cross-cutting features (Figure 4).

Earlier from Banyan Gold Corp.

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