Drill Permitting Progresses as Bayan Targets Carlin-Style Gold in Nevada

Geophysical Survey Launches New Phase of Exploration

Bayan Mining and Minerals Limited has commenced a Controlled-Source Audio-frequency Magnetotellurics (CSAMT) survey at its 100% owned Bayan Springs South Project in Nevada, USA. This geophysical technique is designed to map subsurface resistivity contrasts, which helps identify key geological features such as fault zones and alteration zones that are often associated with Carlin-style gold mineralisation.

The survey program includes eight east-west lines spanning the East and South Zones, areas previously highlighted by strong gold-in-rock and soil anomalies. The work is being conducted by specialist contractors KLM Geoscience under the technical supervision of Bayan’s advisor Bob Ellis, with data acquisition expected to take around 12 days followed by interpretation and reporting.

Building on Strong Sampling Results

This survey follows a successful Phase Two sampling campaign in August 2025, which returned some of the highest gold grades to date at the project, including an impressive 8.25 grams per tonne gold at the East Target and 0.664 grams per tonne at the South Target. These results expanded the known mineralised jasperoid zones along important structural corridors, reinforcing the project’s standing as a promising Carlin-style gold target.

By integrating the new CSAMT data with existing geological and geochemical datasets, Bayan aims to develop a detailed three-dimensional resistivity model. This model will refine and prioritise drill targets, enabling more precise and effective exploration drilling in the next phase.

Strategic Location within the Carlin Trend

The Bayan Springs South Project is strategically located within the prolific Carlin Trend, one of the world’s most productive gold provinces. Situated approximately 10 kilometres north of Kinross Gold’s Bald Mountain Mine, which hosts substantial gold reserves and resources, the project benefits from proximity to established mining infrastructure including power, water, and transport.

The local geology features Cambrian carbonate and siliciclastic units intersected by fault systems that have historically acted as conduits for gold-bearing fluids. The recent geochemical anomalies and high-grade rock chip assays align with these structural features, suggesting a large and continuous mineralising system.

Permitting and Next Steps

Bayan Mining is actively engaged with the US Bureau of Land Management to advance drill permitting and regulatory approvals, a critical step toward commencing scout drilling. The company’s Executive Director, Fadi Diab, emphasised the significance of the CSAMT survey in moving the project closer to drill readiness and unlocking value through targeted exploration.

Following the survey interpretation, Bayan plans to integrate the results with existing data to guide follow-up surface sampling and drill preparation. This methodical approach aims to maximise the chances of discovery and efficient resource delineation in a highly competitive gold district.