Banyan Gold Corp. Provides Corporate Update
24.06.2014 | FSCwire
Calgary, Alberta (FSCwire) - Banyan Gold Corp. (“Banyan” or “Banyan Gold”) announces the resignation of Richmond (Dick) Graham as President & CEO.Effective July 1, 2014 Dick Graham has tendered his resignation as President and CEO of Banyan to focus his efforts on other business interests. Mark Ayranto has been appointed Executive Chairman until a suitable replacement is appointed.
As of June 15th, 2014 Banyan has approximately $194,000 in cash. Banyan’s burn rate is approximately $10,000 a month.
“As CEO Dick has helped build a well-respected, positioned and valued company during a very challenging market for junior mining companies” stated Mark Ayranto. “As a founding member of Banyan we wish Dick well in his future pursuits and look forward to his continued participation on the board.”
This News Release has been reviewed and approved by Paul D. Gray, B.Sc., P.Geo., Vice President Exploration for Banyan Gold, the Qualified Person as defined by NI 43-101.
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, along the southeast end of the Tintina Gold Belt. 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 www.banyangold.com or contact Banyan Gold.
ON BEHALF OF THE BANYAN GOLD BOARD OF DIRECTORS
(signed) "Mark Ayranto"
Mark Ayranto, Executive Chairman
For more information, please contact:
Banyan Gold Corp.
Mark Ayranto
Tel: (604) 648-8450
Email: mayranto@banyangold.com
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.