Business
Banyan Gold Announces Property Acquisition from Generic Gold
VANCOUVER, BC / ACCESS Newswire / June 3, 2026 /Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V:BYN) (OTCQB:BYAGF) is pleased to announce that it has entered into a definitive agreement with Generic Gold Corp. ("Generic Gold") to acquire a 100% ...
About this update from Banyan Gold Corp.
VANCOUVER, BC / ACCESS Newswire / June 3, 2026 / Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V:BYN) (OTCQB:BYAGF) is pleased to announce that it has entered into a definitive agreement with Generic Gold Corp. ("Generic Gold") to acquire a 100% interest in Generic Gold's entire Yukon exploration portfolio, comprising 2,158 claims across the Goodman, Seattle, VIP, Summit and Livingstone claim blocks (collectively, the "Properties"), in the prospective Tintina Gold Belt, for all-share consideration of $3,000,000 (the "Transaction"). "The acquisition of the Generic Gold properties expands Banyan's exploration pipeline in the Yukon and provides our exploration team with a portfolio of drill-ready and early-stage gold targets to which we can apply the geological, geophysical and structural models developed internally," said Tara Christie, President and CEO. "We have opportunity to leverage our district scale geologic dataset and apply the exploration targeting strategies developed at AurMac and Nitra across our expanded project portfolio. The timing of this acquisition will allow Banyan to utilize existing logistical support to rapidly deploy preliminary exploration efforts in the Goodman and Seattle areas and then across all of our projects." Transaction Terms Under the terms of the definitive agreement, Banyan will acquire 100% of the Properties 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 will be subject to a statutory four-month-and-one-day hold period under applicable Canadian securities laws and a contractual 1year hold period. The Properties are being acquired free and clear of royalties and encumbrances, other than a 1% net smelter returns royalty on specific claims. Closing of the Transaction is subject to customary conditions, including the approval of the TSX Venture Exchange. Strategic Rationale The Properties constitute the entirety of Generic Gold's Yukon quartz exploration portfolio and represent a contiguous and non-contiguous land position of approximately 350 squares kilometres across the Tintina Gold Belt, a highly prospective gold belt that hosts multiple producing mines, past-producing mines and advanced gold development projec...