Mayo Lake Minerals Inc. has outlined plans to conduct an initial drill campaign at the Dawn Gulch, Peak and Andy-Owl prospects within its Anderson-Davidson property in Yukon’s Mayo Mining District, subject to financing and final program refinements.

The company's flagship 86-square-kilometre property hosts the 48-square-kilometre Anderson Gold Trend, where proposed drilling is focused on testing the presence of reduced intrusion-related gold systems.

Mayo Lake Minerals proposes to conduct the initial drill program concurrently with corporate capital adjustments. The company scheduled the concurrent closing of its one-for-three share consolidation and up to $1.89 million listed issuer financing exemption offering for on or about 28 August 2026.

“Banyan has prioritized Nitra prospects that they believe offer strong potential for RIRGS. Mayo has assembled a comparable suite of exploration data across the Anderson Gold Trend, namely airborne magnetics, prospecting, mapping, soil sampling and early drill results. Mayo believes that the comparable data supports its contention that it has located some bona fide RIRGS targets. Drilling Dawn Gulch, Andy Owl and Peak gives us three excellent opportunities to test the presence of RIRGS in the Anderson Gold Trend.”

“The structurally controlled patterns that have been identified in Banyan's published gold-in-soil figures are particularly relevant when compared with Mayo's Anderson Gold Trend. Similar patterns in Mayo's geochemical and magnetic datasets may help locate and interpret prospective RIRGS structures. These are exploration interpretations that must now be tested by drilling. Multiple trends of shears and veins with associated mineralization, including sheeted veins, have been observed at the Gold (Scheelite) Dome 1 property to the west of Roaring Fork and Seattle Creek.”

— Dr. Vern Rampton, President and CEO

Read the full announcement: Banyan Gold's Nitra Success Validates Mayo Lake's Exploration Model