Bayan Mining and Minerals Ltd - DETAILED GROUND GRAVITY, MAGNETIC AND RADIOMETRIC SURVEYS REFINE PRIORITY REE TARGETS AT DESERT STAR PROJECTS, CALIFORNIA, USA

About this update from Bayan Mining And Minerals Limited

Bayan Mining and Minerals Ltd (ASX: BMM; 'BMM' or 'the Company') is pleased to announce the results of detailed ground gravity, magnetic and radiometric surveys completed across its 100% owned Desert Star Projects, located in California, USA . The integrated datasets have delivered a coherent, multi-parameter targeting framework that refines the Company's understanding of the structured controls on rare earth element (REE) mineralisation. Three priority REE targets (ST1-ST3) have been delineated within the Desert Star Project , while the Desert Star North area has been differentiated into two distinct domains REE focused NT1 and uranium-enriched NT2. These results collectively support a structurally controlled, fenite-style REE system, providing a clear work pathway towards 3D geophysical modelling and systematic drill targets Ground Gravity Survey The gravity survey maps density differences in the subsurface to outline rock boundaries, locate buried dense bodies (e.g., intrusions or carbonate-rich units), and trace the main structures that control mineralisation. At Desert Star , the results define gentle gravity highs with clear edge positions aligned to northwest-trending corridors, indicating zones where fluids and alteration have been focused. At Desert Star North, a more open, lowerdensity eastern corridor contrasts with a more coherent western domain, consistent with a major through-going fault zone. Taken together, the gravity framework directs followup work to gravity edges and mapped structures, sharpening collar placement and improving drill section design. It also feeds stronger starting models for the planned 3D geophysical modelling and detailed soil grids and complements structural cues from magnetics and alteration vectors from radiometrics. Ground Magnetic Survey Magnetic survey images the structural fabric that channels fluids and alteration. Across Desert Star , broad magnetic lows trace the principal NW-trending corridors that cut the property; these lows mark zones of alteration and faulting that align with gravity-edge positions. At Desert Star North, the magnetic pattern separates a quieter, betterorganised western fabric from a more disrupted eastern corridor interpreted as a major, through-going structure. This structural mapping improves drill orientation and section planning and, together with gravity, helps prioritise which structural segments should be tested first. Ground Radiometric Survey Radiometric ratios provide a direct vector to alteration. At Desert Star , elevated Th/K and Th/U ratios outline thorium enriched and potassium depleted alteration that wraps gravity edge positions and coincides with magnetic lows, reinforcing a fenite-style REE model. At Desert Star North, the radiometrics clearly differentiate two domains: a thorium-rich western area supportive of REE prospectivity and an eastern corridor with elevated uranium along a major structure. This allows the REE program to remain focused while the uranium-enriched corridor is advanced on a separate track. Executive Director Fadi Diab commented: 'These integrated survey results have provided us with a clear and practical exploration framework for Desert Star . We now have well-defined targets where structural corridors, gravity-edge features, and thorium-rich radiometric responses converge. Our next steps are relatively straightforward; complete 3D modelling of the gravity and magnetics, implement detailed soil grids to refine collar locations, and then proceed to scout drilling on the highest-confidence targets. This disciplined, risk-focused approach ensures we test the right structures first, consistent with the geological context of the Mountain Pass district.' About Desert Star Projects The Desert Star Project comprises two claim blocks, Desert Star and Desert Star North located in San Bernardino County in California's eastern Mojave Desert. Together, the projects cover a combined area of approximately 9.75 km-2 and consist of 117 federal lode claims3 , which have been staked and claim applications were submitted to the U.S. Bureau of Land Management for registration. Strategically located within a globally significant critical minerals corridor, the Desert Star Project lies just 4.5 km from MP Materials' operating Mountain Pass Rare Earth Mine and approximately 4.7 km from southern extents of the Colosseum Gold Mine . The area is well supported by infrastructure, including nearby access to Interstate 15 , high-voltage power transmission lines servicing the Mountain Pass Mine , and a Union Pacific rail line within 25 km that may support bulk logistics in future development. Additional renewable power infrastructure in the Ivanpah Valley provides further optionality for low-emission energy access. The Desert Star claim block comprises 72 federal lode claims covering approximately 6 km-2. Geologically, the area lies within a structurally uplifted block of Paleoproterozoic metamorphic and igneous basement rocks intruded by Mesoproterozoic alkaline and carbonatite intrusives, including shonkinite, syenite, granite, and carbonatite. These intrusions are genetically linked to REE mineralisation in the district, with key alteration assemblages such as barite, fluorite, hematite, phlogopite, and calcite indicating a magmatic-hydrothermal origin. The tenement is bounded by the Ivanpah Fault to the east and the Clark Mountain Fault to the west, both major regional structures associated with mineralisation at Mountain Pass and Colosseum. The Desert Star North claim block consists of 45 federal lode claims covering approximately 3.75 km-2. The project spans a geological transition from Paleoproterozoic basement rocks in the west to Cambrian marine sedimentary units in the east, including limestones, quartzites, and shales. These formations are part of the broader stratigraphy that hosts both rare earth and gold mineralisation in the region. Desert Star North is similarly transected by the northwest-trending Ivanpah and Clark Mountain faults, which exhibit vertical displacement in excess of 10,000 feet. These structures are recognised as key controls on regional mineralisation, including at the Mountain Pass REE Mine and the Colosseum Gold Mine , located immediately to the south. Competent Persons Statement The information in this release that relates to Exploration Targets or Exploration Results is based on information compiled by Mr Shahab Tavakoli a Competent Person who is a Member of Engineers and Geoscientists British Columbia (EGBC), a Recognised Professional Organisation (RPO) under the JORC Code 2012. An RPO is an accredited organisation to which the Competent Person under JORC Code Reporting Standards must belong to report Exploration Results, Mineral Resources, or Ore Reserves through the ASX. Mr Tavakoli is an independent contractor of the Company. Mr Tavakoli has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Tavakoli consents to the inclusion in the release of the matters based on his information in the form and context in which it appears. Forward-looking Statements Certain statements included in this release constitute forward-looking information. Statements regarding BMM's plans with respect to its mineral properties and programs are forward-looking statements. There can be no assurance that BMM's plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that BMM will be able to confirm the presence of additional mineral resources, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of BMM's mineral properties. The performance of BMM may be influenced by a number of factors which are outside the control of the Company and its Directors, staff, and contractors. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Except for statutory liability which cannot be excluded, each of BMM, its officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in these forward-looking statements and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in forward-looking statements or any error or omission. BMM undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events other than required by the Corporations Act and ASX Listing Rules. Accordingly, you should not place undue reliance on any forward-looking statement (C) 2025 Electronic News Publishing, source ENP Newswire

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