Banyan Gold Announces Royalty Purchase Update on AurMac Project

Banyan Gold Corp., based in Vancouver, has announced an important development regarding the royalty on its AurMac Project in Yukon, Canada. Franco-Nevada Corporation has agreed to purchase the Net Smelter Return royalty for $52.2 million. This transaction covers the McQuesten and Aurex properties, which form part of the larger AurMac Project area.

The agreement, pending court approval, involves PricewaterhouseCoopers Inc. acting as the receiver for Victoria Gold Corp. The royalty purchase applies to about 13% of AurMac's total area. Following Banyan's complete earn-in on these properties, a 6% NSR was issued to Victoria, with an option to reduce it to 1% for a $10 million payment.

This purchase further validates the project's significance, with indications of significant gold resources and infrastructure alignments. Upcoming events highlight Banyan's involvement in key industry gatherings.