Banyan Gold Company. (TSXV: The village; OTCCP: Biggif) reported that it had closed its previously announced acquisition of General Gold Company (Private search engine: J.J.C; FSE: single payment; OTCCP: GGCPF) of a 100% interest in Generic Gold’s Yukon exploration portfolio, comprising 2,158 claims across the Goodman, Seattle, VIP, Summit and Livingstone claims groups, in the potential Tintina Gold Belt, in exchange for the issuance of 2,142,857 Banyan common shares (the Counterpart Shares) at an estimated price of $1.40 per share. The corresponding shares are subject to a statutory hold period under applicable Canadian securities laws expiring on October 12, 2026, and a one-year contractual hold period expiring on June 11, 2026.
The properties were acquired without any royalties or encumbrances, other than a 1% net smelter royalty on specific claims.
The Company’s Board of Directors granted 50,000 stock options to purchase 50,000 shares at an exercise price of $1.15 per share with an 18-month vesting period of five years.
Stock options are issued to consultants and employees of the company. The options are granted under and subject to the terms and conditions of the Company’s stock option plan.
Banyan’s main asset, the AurMac Project, is located on the traditional territory of the First Nation of Na-Cho Nyäk Dun, in Canada’s Yukon Territory. The effective date of the current Mineral Resource Estimate (MRE) for the AurMac Project is 15 May 2026, and includes an indicated mineral resource of 3,639 million ounces of gold (167.3 million tons at 0.68 g/t gold) and an inferred mineral resource of 4,985 million tons of gold (267.2 million tons at 0.58 g/t gold) (as defined in the CIM standards 43-101 of 2014). 303 km2 The AurMac project is located 40 km from Mayo in Yukon. The AurMac project runs across Yukon’s main highway and takes advantage of a three-phase power line, an existing power station, and cell phone coverage.
In addition to the AurMac Project, the Company owns the Hyland Gold Project, located 70 km northeast of Watson Lake, Yukon, along the southeastern edge of the Tintina Gold Belt (Hyland Project) on the traditional territory of the Kaska Peoples, closest to the Liard First Nation and the Daylu Dena Council. The Highland Project represents a hosted, structurally controlled, infiltration-related gold deposit within a large land package (over 125 km2), accessible by a network of existing gravel roads. The updated MRE includes an indicated mineral resource of 337,000 ounces of gold and 2.63 million ounces of silver (11.3 million tons at 0.93 g/t Au and 7.27 g/t Ag), and an inferred mineral resource of 118,000 ounces of Au and 0.86 million ounces Ag (3.9 million tons at 0.95 g/t Au and 6.94 g/t Ag). (As defined in CIM 43-101 2014 Identification Standards).
Banyan also owns the Nitra Gold Project, a popular exploration project located in the Mayo Mining District, approximately 10km west of the AurMac Gold property. The Nitra property is located in the northern part of the Selwyn Basin and is underlain by metamorphic rocks of the Late Eusizio Formation of the Highland Group, similar to the rocks that host parts of the Ormack Project.
Middle Cretaceous Tombstone Plutonic flank intrusions occur along the property including the Morrison Creek and Minto Creek stocks. The property is 100% owned and managed by Banyan and covers approximately 313.9 square kilometers2. The property is accessible by road along the Silver Trail Highway, South McQuesten Road, and 4×4 roads.
