Banyan Gold (TSXV:BYN, OTCQB:BYAGF) announced that it has closed the 100% earn-in agreement on the AurMac Project. The deal was originally announced on 24 July 2025 with PricewaterhouseCoopers Inc. as the receiver and manager for Victoria Gold Corp.
Banyan initially entered into option agreements for the McQuesten and Aurex properties in 2017, achieving a 75% interest by 2024. These agreements were originally scheduled for completion in late 2025 and 2026. Under the terms of the recently executed definitive agreement to accelerate the earn-in, Banyan has now acquired the remaining 25% interest in both properties, securing full ownership of the core assets comprising the AurMac Project.
Tara Christie, President and CEO of Banyan Gold commented, “With this closing, the strict timeline to complete the PEA is removed. Banyan will now be able to incorporate the results of our strategically targeted 2025 drilling into a PEA for 2026. Banyan will now also upsize our 2025 drill program to over 40,000 metres.”
AurMac has a gold resource of 2.274Moz Au (112.5Mt at 0.63g/t and an inferred mineral resource of 5.453Moz Au (280.6Mt at 0.60g/t).
With the closing of this transaction, Banyan owns 100% of the McQuesten and Aurex properties with the gold resource.
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