Banyan Gold Corp. announced a a best efforts private placement to issue 23,150,000 flow-through common shares at an issue price of CAD 0.38 per share for the gross proceeds of CAD 8,797,000, 14,720,000 flow-through common shares at an issue price of CAD 0.34 per share for the gross proceeds of CAD 5,004,800 and 1,850,000 hard dollar shares at an issue price of CAD 0.27 per share for the gross proceeds of CAD 499,500 for aggregate gross proceeds to the company of up to CAD 14,301,300 on June 12, 2024. The Offering is expected to close on or about June 20, 2024, or such other date as the company and the Agents may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the conditional approval of the TSX Venture Exchange.

The LIFE FT Shares issued to Canadian resident subscribers will not be subject to a hold period pursuant to applicable Canadian securities laws. The FT Shares and HD Shares will be issued pursuant to other applicable private placement exemptions and will be subject to a hold period expiring 4 months and one day following the closing of the Offering.