Banyan Gold completes Yukon property acquisition from Generic Gold
Banyan Gold Corp. [TSXV: BYN; OTCQB: BYAGF] reported that it has closed its previously announced acquisition from Generic Gold Corp. [CSE: GGC; FSE: 1WD; OTCQB: GGCPF] of a 100% interest in Generic Gold’s Yukon exploration portfolio, comprising 2,158 claims across the Goodman, Seattle, VIP, Summit and Livingstone claim blocks, in the prospective Tintina Gold Belt, in consideration for the issuance of 2,142,857 common shares of Banyan (the consideration shares) at a deemed price of $1.40 per share. The consideration shares are subject to a statutory hold period under applicable Canadian securities laws expiring on October 12, 2026, and a contractual one-year hold period expiring on June 11, 2026.
The properties were acquired free and clear of royalties and encumbrances, other than a 1% net smelter returns royalty on specific claims.
The Board of Directors of the company have granted 50,000 stock options to purchase 50,000 shares at an exercise price of $1.15 per share with a vesting period of 18 months with a five-year term.
The stock options are being issued to consultants and employees of the company. The options were granted under and are subject to the terms and conditions of the Company’s stock option plan.
Banyan’s primary asset, the AurMac Project is located in the Traditional Territory of First Nation of Na-Cho Nyäk Dun, in Canada’s Yukon Territory. The current Mineral Resource Estimate (MRE) for the AurMac Project has an effective date of May 15, 2026 and comprises an Indicated Mineral Resource of 3.639 million ounces of gold (167.3 M tonnes at 0.68 g/t) and an Inferred Mineral Resource of 4.985 Moz of Au (267.2 M tonnes at 0.58 g/t gold) (as defined in the 2014 CIM 43-101 standards). The 303 km2 AurMac Project lies 40 km from Mayo, Yukon. The AurMac Project is transected by the main Yukon highway and benefits from a three-phase powerline, existing power station and cell phone coverage.
In addition to the AurMac Project, the company holds the Hyland Gold Project, located 70 km Northeast of Watson Lake, Yukon, along the Southeast end of the Tintina Gold Belt (the Hyland Project) in the Traditional Territory of the Kaska Nations, closest to the Liard First Nation and Daylu Dena Council. The Hyland Project represents a sediment hosted, structurally controlled, intrusion-related gold deposit, within a large land package (over 125 sq km), accessible by a network of existing gravel access roads. The updated MRE comprises an Indicated Mineral Resource of 337,000 ounces of gold and 2.63 million oz of silver (11.3 M tonnes at 0.93 g/t Au and 7.27 g/t Ag), and an Inferred Mineral Resource of 118,000 oz of Au and 0.86M oz Ag (3.9 M tonnes at 0.95 g/t Au and 6.94 g/t Ag) (as defined in the 2014 CIM 43-101 Definition Standards).
Banyan also holds the Nitra Gold Project, a grassroots exploration project located in the Mayo Mining district, approximately 10 km west of the AurMac Gold property. The Nitra Property lies in the northern part of the Selwyn basin and is 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 property including the Morrison Creek and Minto Creek stocks. The property is 100% owned and operated by Banyan and covers approximately 313.9 km2. The property is accessible by road along the Silver Trail Highway, South McQuesten Road and 4×4 roads.