Bindi Metals Secures Approval for Maiden Drill Programme in Serbia

Bindi Metals Receives Regulatory Green Light for Maiden Drill Programme at Serbian Gold Project

Bindi Metals Limited (ASX: BIM) has secured a significant milestone with formal regulatory approval from the Serbian Ministry of Mining and Energy for its maiden drill programme at the Ravni Gold Project. This regulatory clearance removes a key hurdle and positions the company to commence drilling activities, marking a transition from exploration to active drilling operations in Serbia's highly prospective mining region.

Furthermore, the announcement comes as the company mobilises geophysical equipment for an imminent induced polarisation (IP) survey covering 10 line kilometres, whilst progressing land access negotiations for drilling on private and government-managed forestry lands. Historic drill core relogging has confirmed epithermal mineralisation consistent with surface observations, with assay results expected within 6-8 weeks.

Ministry Approval Unlocks Drilling Operations

The Serbian Ministry of Mining and Energy has approved modifications to the Ravni exploration permit Work Programme, formally authorising drilling activities within the first year's permitted exploration scope. This approval represents full regulatory clearance for Bindi Metals maiden drill program in Serbia, subject only to completing land access agreements.

Key regulatory achievements include:

• Project Annex approved by Serbian Ministry
• Drilling permits secured for maiden programme
• Land access discussions progressing with landholders and authorities
• Regulatory continuity preserved through existing licence structure

"The approval of the Project Annex by the Serbian Ministry provides full regulatory clearance for drilling and positions Ravni to transition into its maiden drill phase subject to land access agreement which are progressing," said Mark Freeman, CEO of Bindi Metals.

Geophysical Survey Mobilising to Define Drill Targets

The company is mobilising equipment and crew for a dipole induced polarisation survey covering an initial 10 line kilometres across the Drenjak and Rujak prospects. In addition, the approximately two-week programme aims to identify subsurface anomalies that could indicate mineralised zones at depth.

The IP survey will provide crucial subsurface data to optimise drill hole placement and improve the probability of intersecting mineralised zones for Bindi Metals maiden drill program in Serbia. Results are anticipated within the coming month, directly informing the maiden drilling campaign.

Historic Drill Core Reveals Epithermal System Potential

Relogging of the 2008 Euromax diamond hole EOCC 808 has provided valuable geological insights supporting the epithermal mineralisation model. The company collected 50 samples at 1-metre intervals from the remaining half-core, with assays pending from ALS Bor laboratory.

What does the historic drilling reveal?

Historic Drilling Key Facts:

• Hole depth: 50.6 metres (EOH)
• Target: Drenjak epithermal veins
• Core recovery: 60-100% variability
• Geological observations: Epithermal veining consistent with surface mineralisation
• Assay timeline: 6-8 weeks for results

The geological interpretation suggests EOCC 808 may have intersected only one vein set within a broader stacked vein system, indicating significant exploration upside. The premature end to drilling at 50.6 metres leaves substantial depth potential untested, which Bindi's maiden programme will systematically evaluate.

"Whilst the relogging of EOCC 808 has confirmed the presence of sulphide-bearing epithermal veining consistent with surface mineralisation, laboratory assays are pending and will ultimately determine grade and economic significance," noted Freeman.

Understanding Epithermal Gold Systems

Epithermal deposits represent one of the most important gold deposit types globally, formed by hot, metal-rich fluids circulating near the earth's surface. These systems typically occur in volcanic environments and can host substantial gold and silver resources.

Why epithermal systems matter to investors

Key characteristics include:

• High-grade potential: Can contain exceptional gold concentrations in specific zones
• Near-surface mineralisation: Lower stripping ratios for potential mining operations
• Structural controls: Predictable ore body geometries aid resource definition
• Proven track record: Many world-class mines exploit epithermal systems globally

The Ravni Project displays characteristics transitional between intermediate and high sulphidation epithermal styles, potentially enhancing its exploration significance within Serbia's established mining districts. These systems form when volcanic activity creates pathways for heated, mineral-rich fluids to deposit gold and silver in fractures and veins near the surface.

Corporate Structure Optimised for Operations

Bindi has successfully completed restructuring of its Serbian subsidiary Red Creek d.o.o., the entity holding the Ravni exploration licence. This corporate reorganisation aligns governance frameworks with ASX requirements whilst maintaining regulatory compliance under Serbian mining law.

Restructure Benefits:

• Clear ownership structure with Bindi controlling interest
• Streamlined decision-making for operational efficiency
• ASX governance alignment for reporting and compliance
• Reduced structural risk as project advances

The restructure preserves regulatory continuity by maintaining Red Creek as the registered licence holder whilst providing Bindi with operational control and financial oversight. This structure provides clear ownership, streamlined decision-making and reduced structural risk as Bindi Metals maiden drill program in Serbia advances.

Strategic Location in World-Class Mining District

The 30 square kilometre Ravni Project sits within Serbia's Kopaonik Metallogenic Zone and Raska District, part of the western Tethyan Magmatic Belt renowned for hosting world-class mineral deposits.

This geological address provides significant exploration credibility, with established infrastructure and mining expertise supporting potential future development scenarios. The regional endowment demonstrates the area's capacity to host substantial mineral resources, enhancing the strategic value of Bindi's position.

Near-Term Catalysts and Timeline

Bindi has outlined a clear 3-6 month roadmap with multiple news flow catalysts expected following regulatory approval for its maiden drilling campaign.

What can investors expect in the immediate term?

Immediate catalysts (next 6-8 weeks):

• Assay results from rock chip sampling and soil programmes
• Historic drill core assays from EOCC 808 resampling
• IP survey results and interpretation

Medium-term milestones (3-6 months):

• Land access agreements completion
• Drill pad preparation and logistics finalisation
• Phase One drilling commencement

This timeline provides investors with regular newsflow opportunities whilst advancing the project toward its maiden drilling campaign. The systematic approach demonstrates operational competence in progressing from regulatory approval through to active drilling operations.

Investment Thesis: Disciplined Exploration in Proven Jurisdiction

Bindi Metals presents a compelling exploration story combining regulatory certainty, technical merit, and strategic location within one of Europe's most prospective mining regions. However, the company's methodical approach to advancing Ravni demonstrates operational competence whilst the geological setting provides genuine discovery potential.

What makes this opportunity compelling?

Key investment attractions:

• Regulatory approval secured for Bindi Metals maiden drill program in Serbia
• Historic data confirms epithermal mineralisation model
• World-class geological setting with proven mineral endowment
• Systematic exploration approach with experienced technical team
• Clear near-term catalysts providing regular newsflow

The combination of regulatory clearance, confirmed geological targets, and imminent drilling activities positions Bindi at an inflection point where exploration success could deliver significant value appreciation. For instance, the company's disciplined, data-driven approach to advancing Ravni provides investors with exposure to systematic exploration in a proven geological setting.

Why Investors Should Follow Bindi Metals

The regulatory approval for Ravni's maiden drill programme represents a pivotal moment for Bindi Metals, transitioning from early-stage exploration to active drilling operations in a world-class mining jurisdiction. The convergence of regulatory certainty, technical validation, and strategic location creates a compelling exploration opportunity with multiple catalysts over the coming months.

With the Serbian Ministry's formal drilling approval, progressing geophysics, and pending assay results from historic core, Bindi offers investors exposure to systematic exploration in a proven geological setting. The company's disciplined approach to advancing the project, combined with its strategic position within the Raska Mining District, warrants close attention as drilling activities commence.

Freeman emphasised the significance of the systematic approach: "Our interpretation of the vein architecture is based on geological logging and surface correlation, and will now be systematically tested through geophysics and maiden drilling. We are taking a disciplined, data-driven approach to advancing Ravni."

Therefore, Bindi Metals has secured the regulatory foundation for its maiden drilling programme at Ravni, positioning the company for systematic exploration of epithermal gold targets in Serbia's world-class Kopaonik Metallogenic Zone. With multiple near-term catalysts and a proven geological setting, investors should monitor developments as the company transitions from exploration to active drilling operations.

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