Banyan Gold Commences Greenfields Diamond Drilling at Nitra Project, Yukon

Executive Summary

• Banyan Gold Corp. announced the commencement of its 2026 greenfields diamond drilling program at the Nitra Project in the Tombstone Gold Belt, Yukon, aimed at identifying potential satellite deposits around the AurMac deposit.
• The helicopter-supported program will deploy two diamond drills with over 7,500m allocated to testing regional targets identified via geophysical surveys and surface work, with plans to upsizing the program based on exploration success.
• Concurrently, drilling at the AurMac Project has exceeded 28,000m to date, with engineering studies and a Preliminary Economic Assessment (PEA) targeted for completion in H2-2026.

Key Details

• Nitra Drilling Program: Commenced 2026 greenfields diamond drilling program focused on advancing/testing targets in highly prospective greenfields zones surrounding the AurMac deposit.
• Budget & Scope: 7,500m+ allocated to testing regional targets; company treasury will support program upsizing contingent on exploration success.
• Target Identification: 10 highly prospective targets identified across Nitra and the broader AurMac Property, primarily targeting Reduced Intrusion-Related Gold Systems (RIRGs) using new geophysical surveys, soil sampling anomalies, and placer mining/prospecting data.
• AurMac Drilling Progress: Drilling began in February 2026; over 28,000m drilled to date on the Airstrip and Powerline Deposits.
• PEA & Engineering: Ongoing geophysical surveys, metallurgical work, geotechnical work, environmental surveys, and engineering studies are being conducted to support a Preliminary Economic Assessment (PEA) scheduled for H2-2026.
• Land Package Status: Over 95% of the district-scale AurMac and Nitra land package remains untested by drilling, with historical exploration limited to surficial geochemical work and airborne geophysical surveys.
• Regional Context: The western portion of Nitra is located ~20km southeast of Sitka Gold's RC Gold Project within the prolific Tombstone Gold Belt, which hosts major deposits like Brewery Creek, Snowline Gold's Valley Project, and the Fort Knox mine.
• Upcoming Events: July 6-7, 2026: The Rule Symposium (Boca Raton, FL); July 12-15, 2026: Invest Yukon Property Tours.

Notable Quotes

• Duncan Mackay, Vice President of Exploration: "We're excited to start up our 2026 greenfields diamond drilling program... The 10 targets we have identified in Nitra and the broader AurMac Property carry the exploration signature for RIRGs. We see significant opportunity to potentially add satellite deposits to the exploration pipeline in the area around the AurMac Deposit."
• Tara Christie, President and CEO: "Greenfields exploration is how we build the next chapter of value at AurMac... With a fully funded treasury and over 95% of our district-scale land package untested by drilling, Nitra represents exactly the kind of discovery opportunity that can extend our pipeline well beyond the existing large gold resource."