BANYAN GOLD CORP. (“Banyan Gold”) is pleased to announce that, further to the $100,000 payment made to Victoria Gold Corp (“Victoria Gold”) as outlined in our press release dated February 19, 2013, Banyan Gold has issued an aggregate of 150,000 common shares to Victoria Gold at a deemed price of $0.05 per share as final payment pursuant to the Hyland Option Agreement (the “Option Agreement”). Under the terms of the Option Agreement, this share issuance earns Banyan Gold an undivided 100% interest in the Hyland Gold Property.
About Banyan Gold
Banyan Gold is a gold exploration and development company whose flagship property, the Hyland Gold Project (“Hyland”), is approximately 70 km NE of Watson Lake, Yukon. The Main Zone gold inferred resource, at a 0.6 g/t gold equivalent ("AuEq") cutoff, hosts a NI 43-101 compliant resource of 12,503,994 tonnes containing 361,692 ounces gold at 0.9 g/t and 2,248,948 ounces silver at 5.59 g/t for a combined gold and silver 396,468 ounces gold equivalent. Based on the success of previous exploration and numerous untested drill ready targets Banyan Gold management foresees potential for a significant regional exploration at Hyland.
Banyan Gold trades on the TSX-Venture Exchange under the symbol “BYN”. For more information please visit the corporate website at http://www.banyangold.com or contact Banyan Gold.
ON BEHALF OF THE BOARD OF BANYAN GOLD
(signed) "Richmond Graham"
President and Chief Executive Officer
For more information, please contact:
Tel: (604) 648-8450
The TSX Venture Exchange (the “Exchange) has neither approved nor disapproved the contents of this press release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Statements in this news release regarding Banyan Gold 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.