Banyan Gold to acquire Trail Minto claims at AurMac

Executive Summary

• Banyan Gold Corp. has acquired a 100% interest in 229 quartz claims (the Trail-Minto claims) from Mayo Lake Minerals Inc., completing a district consolidation of approximately 720 square kilometers around its AurMac project.
• The acquisition involves a cash consideration of $1 million and a 2% net smelter royalty, which can be reduced to 1% upon a subsequent $1 million payment.
• The company also provided an update on its share registry, confirming the divestment of its shares by PricewaterhouseCoopers (as receiver for Victoria Gold Corp.) and noting the addition of new institutional shareholders.

Key Details

• Transaction Structure: Banyan acquired 100% interest in 229 quartz claims covering 46 square kilometers.
• Consideration:
  • Cash payment of $1,000,000.
  • 2% net smelter royalty (NSR) to Mayo Lake Minerals Inc.
  • Option to reduce NSR to 1% upon payment of an additional $1,000,000.
  • All previous royalties on the claims were eliminated.
• Land Package Consolidation: The acquisition makes the AurMac and Nitra properties contiguous, creating a total land package of nearly 720 square kilometers.
• Geological Context: The Trail-Minto claims are situated between the AurMac and Nitra properties. Geophysical and surface geochemical trends identified by Banyan continue toward these claims, indicating potential for reduced intrusion-related gold mineralization.
• Share Registry Update:
  • PricewaterhouseCoopers, in its capacity as receiver for Victoria Gold Corp., divested all its Banyan shares as of October 15, 2025.
  • Shares were originally issued to Victoria under the AurMac property earn-in agreement and through early financings.
  • The company states that current shareholder information is maintained on its website and notes the addition of notable new institutional and high net-worth shareholders since September.
• Political/Infrastructure Support: Banyan supports the federal recognition of the Yukon-B.C. grid connect corridor, citing potential for $7.6 billion in annual clean economic growth and 36,000 long-term jobs.
• Regulatory Context: All claims owned by Banyan preceded the July 31, 2025, memorandum of understanding between the Government of Yukon and the First Nation Na-cho Nyak Dun regarding regional land use planning.

Notable Quotes

• "With today's acquisition of the Minto claims, the AurMac and Nitra properties have now grown to a contiguous 720 square km land package covering the AurMac deposit... and an extensive prospective and underexplored land package," said Tara Christie, president and chief executive officer.
• "Banyan has identified geophysical and surface geochemical trends which continue toward the Trail-Minto claims and Nitra claim block, indicating the potential for reduced intrusion-related gold mineralization."