Caspin Resources Limited has advanced its Bygoo Tin Project in New South Wales with encouraging results from a second phase of reverse circulation drilling. The company’s latest work has expanded known zones of tin mineralisation and identified new targets along a more than 1,000‐metre-long granite contact, suggesting the potential for a substantial tin resource. Notably, drilling at Stewart’s Lode has returned a broad intercept of 118 metres at 0.32% tin, with a higher-grade zone of 29 metres at 0.53% tin – including an 8‐metre interval at 1.17% tin – obtained from a shallow depth. Additional intersections include 12 metres at 0.45% tin and 28 metres at 0.52% tin, highlighting the continuity of tin mineralisation at this site. At Smith’s Lode, Caspin’s maiden drilling efforts have uncovered high-grade results, with an intercept of 16 metres at 0.68% tin recorded from 49 metres downhole, and an inner 5‐metre interval showing 1.73% tin alongside 1.45% copper. The presence of copper in this zone, though typically a minor component, underscores potential complexities in the mineral system that could aid future targeting. A further new zone, known as “Radius,” discovered between established targets Dumbrell’s and Smith’s, returned 16 metres at 0.48% tin from 124 metres, including a 2‐metre interval with 2.05% tin and 0.37% copper. These intersections, along with a geological model refined using both contemporary and historical data, underscore the scale and continuity of greisen-style tin mineralisation controlled by the Ardlethan Granite contact. The technical indicators – including multiple intercepts with tin grades ranging from 0.32% to 1.73% and additional copper values – offer promising signals, while the upcoming high-resolution aerial magnetic survey over approximately 800 square kilometres is expected to further enhance target definition over several untested kilometers. The results, achieved with industry-standard sampling and drilling techniques, reinforce Caspin’s evolving geological understanding and provide several immediate targets for follow-up drilling along a largely untested strike. From a market perspective, the news presents a bullish case on multiple fronts. Positive drill intercepts across several zones, combined with an extension of known mineralisation and the discovery of new targets, lend optimism to the project's potential scale and future value. However, a bearish sentiment might arise from the inherent risks of early-stage exploration. The mineralisation, while promising, remains to be fully delineated, and further drilling is necessary to establish a robust resource estimate. In summary, while the results support a positive outlook, they also highlight the exploratory nature of the venture and the ongoing requirements for additional work before any definitive conclusions can be drawn.