Bayan Mining and Minerals Limited has provided an extensive update on its exploration activities in North America, detailing progress across multiple projects. The company is advancing work in California’s Mojave Desert and in northeastern Nevada while also releasing new assay data from its Arrel Lithium Project in Ontario. In California, the Desert Star Project is actively being explored over 72 federal lode claims covering approximately 6 km² in a corridor known for rare earth elements. Field crews collected 65 rock chip samples and 30 heavy minerals concentrate samples that have been sent to the ALS Laboratory in Reno for rare earth and multi-element analysis, along with gold fire assays. A desktop review, integrating high-resolution airborne magnetic, gravity, and radiometric data with satellite imagery, is underway to refine target areas, with further updates expected later this month. Nearby, the Desert Star North Project spans 45 federal lode claims (approximately 3.75 km²) situated just a few kilometers north of a well-known gold mine and along the same regional corridor as a significant rare earth mine. Here, the company has extracted a total of 21 rock chip and 46 heavy mineral concentrate samples, supplemented by additional samples from the broader Desert Star area. These samples are also being analyzed at the ALS Laboratory, with results anticipated in September 2025. High-resolution geophysical data continues to play a key role in targeting further exploration. In northeastern Nevada, the Bayan Springs South Project has successfully completed the second phase of fieldwork focused on high-priority targets identified during an earlier reconnaissance campaign. The field program involved the systematic collection of 147 soil samples, 12 stream sediment samples, and 41 rock chip samples from key anomalous zones. These samples, submitted to ALS, are expected to yield assay results within about two weeks, which will dictate the scope and direction of follow-up exploration, including possible detailed geophysical surveys. The project area benefits from established infrastructure and is located along a prominent mining trend. Meanwhile, assay results from the Arrel Lithium Project in Ontario have been received. Although no significant lithium anomalies were observed, the data has provided valuable geological and geochemical insights that will contribute to refining the regional exploration model and inform future project decisions. Bullish sentiment arises from Bayan Mining and Minerals Limited’s active exploration across multiple promising jurisdictions, particularly within a critical rare earth elements corridor and near established gold operations. The rigorous sampling protocols, integration of advanced geophysical techniques, and supportive infrastructure in the U.S. enhance the potential for future discoveries that could add significant value to the company’s portfolio. On the bearish side, the lack of compelling lithium findings at the Arrel Lithium Project and the inherently exploratory nature of these early-stage campaigns inject a measure of uncertainty. There is still a substantial gap between the current exploration data and establishing a definitive mineral resource, which means that significant technical and market risks remain until further drilling and assay results confirm economic viability.