Banyan Gold Corp. (TSXV: BYN | OTCQB: BYAGF) has signed a definitive agreement to acquire a 100% interest in Generic Gold’s Yukon exploration portfolio, expanding its land position across the highly prospective Tintina Gold Belt.
The acquisition includes 2,158 claims across the Goodman, Seattle, VIP, Summit and Livingstone claim blocks, covering approximately 350km². The transaction is valued at C$3.0M, to be satisfied through the issuance of Banyan shares.
The newly acquired assets add a pipeline of drill‑ready and early‑stage exploration targets, complementing Banyan’s existing projects and strengthening its district‑scale footprint in Yukon. Several of the claim blocks are located near major deposits and operating mines, including Eagle Gold, Casino, and Banyan’s flagship AurMac project.
Banyan noted that the Goodman‑Seattle properties share similar geological characteristics to AurMac and other regional deposits, supporting the potential for intrusion‑related gold systems. The proximity to existing infrastructure is expected to allow efficient deployment of exploration activities.
The VIP property is located along trend from the Coffee project and is considered prospective for orogenic gold mineralisation, with early‑stage targets identified through surface sampling.
Tara Christie, president and CEO of Banyan Gold, commented, “This acquisition expands our exploration pipeline in Yukon and provides a strong portfolio of drill‑ready and early‑stage targets. The additional projects allow us to apply the geological and targeting models developed at AurMac across a broader land package, while leveraging existing infrastructure to efficiently advance exploration.”
Under the terms of the agreement, Banyan will issue 2.14 million shares at C$1.40 per share, with the shares subject to standard regulatory hold periods. The properties are being acquired largely free of royalties, aside from a minor net smelter return on select claims.
Banyan plans to integrate the newly acquired assets into its broader exploration strategy, with initial work focusing on data compilation, target generation and early field programs, including geophysical surveys and drilling.
The acquisition strengthens Banyan’s position in the Tintina Gold Belt, further supporting its strategy of building a district‑scale gold platform in Yukon.
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