Strategic Divestment of Bayan Springs North to Sun Silver

Key points

• Bayan Springs North Project sold for up to A$800,000
• Retains 1.0% NSR royalty on extracted minerals
• Sun Silver can repurchase 0.5% NSR for A$2,000,000
• Transaction provides immediate non-dilutive funding
• Preserves exploration upside and future development potential

Full summary

Bayan Mining and Minerals Ltd has entered into a binding agreement to divest its 100%-owned Bayan Springs North Project in Nevada to Sun Silver Ltd for up to A$800,000. The transaction includes immediate and deferred cash payments, along with a 1.0% Net Smelter Return (NSR) royalty on future mineral production. Sun Silver has the option to repurchase 0.5% of the NSR for A$2,000,000. The divestment is part of Bayan's strategy to focus on its core exploration and rare earth projects, while Sun Silver, with its adjacent Maverick Springs Project, is well-positioned to advance exploration in the district.