Bayan Mining and Minerals Limited has initiated the second phase of its exploration program at the Bayan Springs Project in north‐eastern Nevada, building on promising early results. The initial reconnaissance identified a standout rock chip assay of 4.56 g/t gold, with elevated arsenic (up to 2,640 ppm) and antimony (up to 863 ppm), indicating a robust Carlin-style gold system. The project targets key geological zones hosted within Palaeozoic carbonate units—including the Dunderberg Shale, Hamburg Dolomite, Secret Canyon Shale, and Eldorado Dolomite—which are spatially linked to jasperoid alteration along critical structural contacts similar to those found at the nearby Bald Mountain deposit. The upcoming work will focus on expanding the surface geochemical coverage through detailed soil sampling, additional rock chip assessments, and stream sediment sampling along drainages that intersect previously identified mineralized zones. The program also involves engaging geophysical contractors to evaluate surveys using IP/Resistivity and CSAMT techniques and initiating preliminary permitting discussions to streamline future scout drilling operations. Field activities are expected to last approximately 10 days, after which samples will be sent to ALS Global's laboratory in Reno, Nevada, with assay results due in three to four weeks. The Bayan Springs Project spans two distinct areas. The North Project covers around 9.7 km² and is adjacent to a significant silver deposit, while the South Project, covering about 3.75 km² along the prolific Carlin Trend, benefits from its proximity to established mining operations. Both sites are strategically positioned within a geologically favorable environment characterized by carbonate-rich sedimentary units and a network of faults that may channel mineralizing fluids, enhancing the potential for substantial gold and silver deposits. Bullish sentiment is supported by the strong initial assay results and the structured, multi-method exploration approach, providing clear vectors for future development. The similarities between the project’s geochemical signatures and those at established deposits add further credibility to its potential. Conversely, bearish sentiment arises from the inherent risks of early-stage exploration, including uncertainties in permitting, drilling outcomes, and execution of the advanced survey techniques. These factors could delay tangible results and affect near-term valuations. Overall, the targeted exploration at Bayan Springs marks a significant advance in Bayan Mining and Minerals Limited’s pursuit of a promising Carlin-style gold system, offering an intriguing opportunity for investors interested in mining exploration sectors.