Banyan Gold Completion of Property Acquisition from Generic Gold

Executive Summary

• Banyan Gold Corp. has closed its acquisition of a 100% interest in Generic Gold Corp.'s Yukon exploration portfolio, comprising 2,158 claims across five major blocks in the prospective Tintina Gold Belt.
• The transaction was settled via the issuance of 2,142,857 common shares at a deemed price of $1.40 per share, with both statutory and contractual hold periods attached to the consideration shares.
• The acquired assets are largely free of encumbrances, retaining only a 1% net smelter returns (NSR) royalty on specific claims, alongside a concurrent grant of 50,000 stock options to company consultants and employees.

Key Details

• Transaction Type: Acquisition of exploration portfolio
• Target/Counterparty: Generic Gold Corp.
• Assets Acquired: 2,158 claims across the Goodman, Seattle, VIP, Summit, and Livingstone claim blocks in the Tintina Gold Belt, Yukon
• Consideration: 2,142,857 common shares of Banyan Gold Corp.
• Deemed Price: $1.40 per share
• Hold Periods: Statutory hold expiring October 12, 2026; contractual 1-year hold expiring June 11, 2026
• Royalties/Encumbrances: Acquired free and clear except for a 1% net smelter returns (NSR) royalty on specific claims
• Option Grant: 50,000 stock options issued to consultants and employees
• Option Terms: $1.15 exercise price, 18-month vesting period, 5-year term
• Project Location: Tintina Gold Belt, Yukon Territory, Canada