Bayan Mining Advances Gold-Silver Exploration at Bayan Springs South

Golden Discovery: Bayan Springs South Delivers High-Grade Gold Results Along Nevada's Prolific Carlin Trend

Bayan Mining and Minerals (ASX: BMM) has announced outstanding results from its Phase Two exploration program at the Bayan Springs South Project in Nevada, with rock chip samples returning gold grades up to 8.25 g/t Au and confirming the project's potential as a significant Carlin-style gold system. This success comes as Bayan Mining launches Nevada gold silver exploration initiatives across the region.

Step Change in Exploration Results Confirms Major Gold Potential

The latest phase of exploration at Bayan Springs South has delivered a significant breakthrough for Bayan Mining, with high-grade gold assays that substantially upgrade the project's potential. The standout results include:

• 8.25 g/t Au at the East Target (Sample No. 19123)
• 0.664 g/t Au at the South Target (Sample No. 19132)
• Systematic soil sampling returning values up to 0.311 g/t Au (Sample No. 19296)

These results represent the highest gold grades recorded at the project to date and expand previously mapped mineralised jasperoid zones along key structural corridors.

"These Phase Two results mark a significant milestone for Bayan Springs South. The discovery of high-grade gold up to 8.25 g/t Au, coupled with strong Carlin-style geochemical signatures across multiple targets, validates our exploration model and underscores the potential for a major gold system," stated Executive Director Fadi Diab.

Classic Carlin-Type Geochemical Signatures

What makes these results particularly compelling is the clear Carlin-type pathfinder element suite identified across multiple sample sets. The geochemical signature includes:

• Arsenic values exceeding 250 ppm
• Antimony levels up to 96.2 ppm
• Anomalous thallium concentrations
• Elevated mercury readings

This multi-element pathfinder suite is spatially coincident with expanded jasperoid alteration footprints, consistent with the geological model applied at the nearby Bald Mountain deposit operated by Kinross Gold Corporation. Similar patterns have been observed in the recent major copper-gold discovery by Great Western Exploration elsewhere in the region.

Extensive Gold Corridor Defined Through Systematic Sampling

The comprehensive soil sampling program, conducted on a predefined grid at fixed 100m spacing, has delineated continuous and coherent gold-anomalous zones across the project area. This systematic approach delivered:

• 147 soil samples with gold values peaking at 0.311 g/t Au
• Multiple samples exceeding 0.10 g/t Au
• Anomalies tightly associated with key NE-NW structures
• Strong correlation with favorable Cambrian carbonate stratigraphy

Additionally, 12 stream sediment samples from target drainages returned gold values up to 0.007 ppm Au, with several samples showing elevated pathfinder elements. The strongest response was observed in catchments draining the South Target area, providing important vectoring information.

Understanding Carlin-Type Gold Deposits

Carlin-type gold deposits represent one of the world's most significant sources of gold production and are characterised by specific geological and geochemical signatures. These deposits typically occur in carbonate host rocks that have undergone alteration to form jasperoid (silicified limestone), with gold mineralisation often invisible to the naked eye.

The key characteristics of Carlin-type systems include:

1. Host Rocks: Primarily carbonates (limestones and dolomites)
2. Alteration: Decalcification, silicification (jasperoid formation), and argillisation
3. Structural Controls: Faults and fold hinges that focus mineralising fluids
4. Pathfinder Elements: As, Sb, Hg, and Tl typically accompany gold mineralisation
5. Gold Form: Typically micron-sized and associated with pyrite or arsenian pyrite

The pathfinder element suite identified at Bayan Springs South—particularly the elevated arsenic, antimony, and mercury values—is a classic signature of Carlin-type deposits and provides strong evidence for the presence of this mineralisation style. Recent Inca Minerals gold discovery at Hurricane project shows similar pathfinder elements relationships.

Strategic Location in World-Class Gold District

Bayan Springs South is strategically positioned along the prolific Carlin Trend, a belt of gold deposits that has produced more than 80 million ounces of gold since the 1960s. The project consists of 45 lode claims covering approximately 3.75 km² and is located:

• East of the historic Bellview Au-Ag-Pb Deposit
• Only 10 km north of Kinross Gold Corporation's Bald Mountain Mine
• Approximately 85 km south of Elko, Nevada

Kinross's Bald Mountain operation represents a significant production center with:

• 1.2 million ounces in Probable Reserves
• 2.7 million ounces in Measured and Indicated Resources
• 571 thousand ounces in Inferred Resources

This proximity to an established mining operation with similar geological characteristics enhances the strategic value of Bayan's land position.

Near-Term Work Program to Advance Targets

Based on these encouraging results, Bayan Mining exploration at Bayan Springs South will continue with a clear path forward to advance the project:

1. Ground geophysical surveys to define subsurface extensions of favorable stratigraphy and structural corridors
2. Extension of the soil sampling grid to confirm continuity of mineralisation along open-ended anomalies
3. Integration of geophysics and geochemistry to refine target geometry ahead of drill planning
4. Engagement with BLM and progression of permitting activities to support future drilling programs

Portfolio Optimization: Focus on High-Potential Assets

In line with its strategy to prioritize projects with stronger returns for shareholders, Bayan has elected to withdraw from its option to acquire the Gorge Lithium Project in Canada. This decision allows the company to concentrate resources on high-potential assets like Bayan Springs South that enhance long-term value. This approach mirrors strategies seen with lithium energy securing game-changing gold copper opportunity in other mining regions.

Why Investors Should Follow Bayan Mining

Bayan Mining exploration at Bayan Springs South has positioned the company as an emerging player in Nevada's gold exploration landscape, with several compelling factors for investors to consider:

1. Prime Location: The Bayan Springs South Project is situated along the prolific Carlin Trend, one of the world's most productive gold belts
2. High-Grade Potential: Recent sampling has confirmed high-grade gold values up to 8.25 g/t Au
3. Classic Carlin Signatures: The project displays textbook geochemical and geological characteristics of Carlin-type deposits
4. Multiple Targets: Three distinct target areas have been identified, providing multiple opportunities for discovery
5. Strategic Approach: The company is employing a systematic, phased exploration strategy to maximize shareholder value

With an experienced technical team, a focused portfolio, and promising early results from Bayan Springs South, Bayan Mining exploration at Bayan Springs South represents an opportunity for investors seeking exposure to gold exploration in a tier-one jurisdiction. Furthermore, the company's approach aligns with recent successes where drilling commences at New South Wales copper-gold prospect with similar methodical exploration programs.

Key Takeaway:
"Bayan Mining has positioned itself as an emerging player in Nevada's gold sector, with significant upside potential due to the high-grade gold values and classic Carlin-type signatures identified at Bayan Springs South. With upcoming geophysics and drill target refinement in the coming months, investors should keep a close eye on developments at this strategic project along the prolific Carlin Trend."

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