Announcement • Jul 23
Mayo Lake Minerals Inc. announced that it expects to receive CAD 1.89 million in funding Mayo Lake Minerals Inc. announced a non brokered private placement a minimum of CAD 1,600,000 and a maximum of CAD 1,890,000 from the sale of any combination of subject to minimum of 6,250,000 Common share units at a price of CAD 0.08 per CS Unit for gross proceeds of CAD 500,000 and 13,238,095 flow-through units at a price of CAD 0.105 per FT unit for gross proceeds of CAD 1,389,999.975 on July 22, 2026. Each CS Unit consists of one common share of the Company and one common share purchase warrant. Each CS Warrant entitles the holder thereof to purchase one Common Share at a price of CAD 0.12 per Common Share for a period of thirty-six months from the date of issuance. Each FT Unit consists of one common share issued on a "flow-through" basis and one Common Share purchase warrant (a “FT Warrant”). Each FT Warrant entitles the holder to acquire one Common Share at a price of CAD 0.14 for a period of thirty-six months from the date of issuance. The securities issuable from the sale of the LIFE Securities are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation for LIFE Securities sold to purchasers resident in Canada. The Units may also be sold in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”). The Offering is scheduled to close on or around August 14, 2026, concurrently with the effective date of the previously announced consolidation of the Company’s common shares (the “Consolidation”), or such other date as the Company may determine. Completion of the Offering is subject to certain conditions, including completion of the Consolidation and the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange. In connection with the Offering, the Company has engaged Couloir Securities Ltd. (the “Finder”) and may pay the Finder a cash commission equal to 7% of the gross proceeds from securities sold by the Finder, together with that number of non-transferable compensation warrants (the “Compensation Warrants”) equal to 7% of the number of CS Units and FT Units issued pursuant to the Offering. Each Compensation Warrant will entitle the holder to acquire one Common Share at a price of CAD 0.12 per Common Share for a period of 36 months following the date of issuance. New Risk • May 06
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$629k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$629k free cash flow). Share price has been highly volatile over the past 3 months (44% average weekly change). Earnings have declined by 8.0% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$4.12m market cap, or US$3.02m). Announcement • Dec 18
Banyan Gold Corp. (TSXV:BYN) acquired Trail Minto Claims from Mayo Lake Minerals Inc. (CNSX:MLKM). Banyan Gold Corp. (TSXV:BYN) acquired Trail Minto Claims from Mayo Lake Minerals Inc. (CNSX:MLKM) on December 17, 2025.
Banyan Gold Corp. (TSXV:BYN) completed the acquisition of Trail Minto Claims from Mayo Lake Minerals Inc. (CNSX:MLKM) on December 17, 2025. 
