VANCOUVER - Banyan Gold Corp. (the 'Company' or 'Banyan') (TSX-V: BYN) a growth focused gold exploration company, provides a summary of the Company's key 2020 accomplishments advancing the Company and the Company's AurMac and Nitra Properties near Mayo, Yukon.

2020 AurMac Project Highlights

Announced Maiden Inferred Resource - 903,945 ounces of gold contained in two near/on-surface, road accessible deposits: The Airstrip and Powerline deposits. in May 2020; Executed Successful Exploration programs June - December: Completed 10,632 metres ('m') of diamond drilling in 57 holes focused on at the Airstrip, Powerline and Aurex Hill Zones - AurMac Property; Collected 4,289 soil samples with coverage of over 12 km2 on the Nitra property - multiple strong NNW mineralized trends identified; Released Phase 1 drill hole results from Airstrip Zone, expansion of the Airstrip Mineralization by 200 m to the West and 125 m to the South, with the deposit remaining open to the East, West and down dip; Released Phase 1 drill hole results from Powerline Zone, expansion of the Powerline Zone by over 500 m to the South of the existing Resource - the Resource is open in all directions and at depth; Initiated Airstrip Deposit Metallurgical Testing and AurMac Property Baseline Environmental Work and Results pending from 30 holes - expected in Q1 2021

Airstrip - 10 holes

Powerline - 14 holes

Aurex Hill - 6 holes

AurMac 2020 Exploration Program Review

Exploration on the AurMac project consisted of a two-phase diamond drill program focused on the expansion of areas with known mineralization: the Airstrip, Powerline and Aurex Hill Zones. The program ran June to mid-December and culminated with 10,632 m from 57 holes.

Airstrip Zone

At Airstrip, twenty-two (22) diamond drill holes totalling 4,554 m targeted step-out drilling along strike and down dip, eight (8) diamond drill holes totalling 1,178 m tested previously un-drilled areas within the conceptual pit of the resource and two (2) diamond drill holes totalling 355 m represented dedicated metallurgical test holes.

Phase 1 drilling at Airstrip included drill holes MQ-20-65 through to MQ-20-83. Results for this phase of drilling, released on August 17, 2020 and September 21, 2020, demonstrated the continuity of gold grades along strike and down dip and extended Airstrip mineralization by 200 m to the West and 125 m down dip respectively, from the bounds of the May 2020 Airstrip Resource.

Phase 2 drilling at Airstrip included drill holes MQ-20-84 through to MQ-20-93. This phase of drilling followed-up on impressive results returned from Phase 1 efforts to the West while also testing with step-out drilling along strike to the East. Results for these holes are pending and are expected to be received in Q1 2021.

Powerline Zone

Drilling at Powerline consisted of nineteen (19) diamond drill holes totalling 3,657 m - all step-out exploration drilling from the Powerline Deposit

Phase 1 drilling at Powerline included drill holes AX-20-41 through to AX-20-52. Results for this phase of drilling, released on November 16, 2020, demonstrated that gold mineralization at Powerline is part of a much larger gold system than captured in the 2020 Powerline Deposit Resource Model. Results from six (6) Phase 1 drill holes at Powerline remain outstanding with results received to-date highlighting gold mineralization extends over 500 m South of the Powerline Deposit Resource Model.

Phase 2 drilling at Powerline consisted of drill holes AX-20-58 through to AX-20-65. This phase of drilling tested for gold grade continuity along a 500 m North-South section at 100 m drill spacing, East of the Powerline Deposit. Results for this phase of drilling remain pending and are expected to be received in Q1 2021.

Aurex Hill Zone

Drilling at the Aurex Hill consisted of five (5) diamond drill holes totalling 888 m and were designed to test a strong and previously un-tested Au-in-soil anomaly of approximately 1,000 m by 400 m areal extent. Results for all Aurex Hill drill holes are pending and are expected to be received in Q1 2021.

Analytical Method

All drill core splits collected from the 2020 AurMac drill program were analysed at Bureau Veritas Minerals of Vancouver, B.C. utilizing the aqua regia digestion ICP-MS 36-element AQ200 analytical package with FA450 50-gram Fire Assay with AAS finish for gold on all samples. All core samples were split on-site at Banyan's core processing facilities. Once split, half samples were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Samples were delivered by Banyan personnel or a dedicated expediter to the Bureau Veritas, Whitehorse preparatory laboratory where samples are prepared and then shipped to Bureau Veritas's Analytical laboratory in Vancouver, B.C. for pulverization and final chemical analysis. A robust system of standards, 1/4 core duplicates and blanks was implemented in the 2020 exploration drilling program and was monitored as chemical assay data became available.

All soil samples were collected from a well-developed B-horizon at depths between 10 cm and 40 cm. Samples were placed in a Kraft paper bag and labeled with their UTM grid position. Samples were dried and then analysed using a Niton XL5 portable XRF. A subset of soil samples selected, using a portable XRF, from the 2020 Nitra exploration were analysed at Bureau Veritas Minerals of Vancouver, B.C. utilizing the aqua regia digestion ICP-MS 36-element AQ200 analytical package. Soil samples were delivered by Banyan personnel or a dedicated expediter to the Bureau Veritas, Whitehorse preparatory laboratory where samples are prepared and then shipped to Bureau Veritas's Analytical laboratory in Vancouver, B.C. for final chemical analysis.

COVID-19 Update

Banyan has taken proactive measures to protect the health and safety of our employees and communities from COVID 19 and exploration activities in 2021 will have additional safety measures in place, following and exceeding all the recommendations made by the Yukon's Chief Medical Officer.

About Banyan

Banyan's primary asset AurMac is adjacent to Victoria Gold's new Eagle Gold Mine, in Canada's Yukon Territory, which announced commercial production on July 1, 2020. The AurMac initial resource of 903,945 oz. Au was announced in May 2020. Our major strategic shareholders include Osisko Gold Royalties, Sprott Funds, Alexco Resource Corp, and Victoria Gold Corporation. Banyan is focused on gold exploration projects that have the geological potential, size of land package and proximity to infrastructure that is advantageous for a mineral project to have potential to become a mine. Our Yukon based projects both fit this model and our objective is to gain shareholder value by advancing projects in our pipeline.

The 173 km2 AurMac Property lies 30 km from Victoria Gold's Eagle Project and adjacent to Alexco's Keno Hill Silver District and is highly prospective for structurally controlled, intrusion related gold-silver mineralization. The property is located adjacent to the main Yukon highway and just off the main access road to the Victoria Gold open-pit, heap leach Eagle Gold mine. The AurMac Property benefits from a 3-phase powerline, existing Yukon Energy Corp. switching power station and cell phone coverage. Banyan has optioned the properties from Victoria Gold and Alexco respectively with a right to earn up to a 100% subject to royalties.

Contact:

Tara Christie

Tel: (888) 629-0444

Email: tchristie@banyangold.com

CAUTIONARY STATEMENT

This news release contains forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Banyan's objectives, goals or future plans, statements regarding exploration expectations, exploration or development plans and mineral resource estimates. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, uncertainties inherent in resource estimates , capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, enhanced risks inherent to conducting business in any jurisdiction, and those risks set out in Banyan's public documents filed on SEDAR. Although Banyan believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Banyan disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Statements in this news release regarding Banyan which are not historical facts are 'forward-looking statements' that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as 'may', 'will', 'expect', 'estimate', 'anticipate', 'intend', 'believe' and 'continue' or the negative thereof or similar variations.

(C) 2021 Electronic News Publishing, source ENP Newswire