Bayan Mining and Minerals sells exploration assets to Sun Silver

• Bayan Mining and Minerals executed a binding agreement to divest its Bayan Springs North Project to Sun Silver for a total consideration of up to $800,000.
• The transaction provides non-dilutive funding, and the company's share price remained unchanged at $0.064 following the news.
• The company stated that the divestment will allow it to prioritise capital allocation across its core exploration and technology portfolios.

Bayan Mining and Minerals (ASX:BMM) executed an agreement to divest its Bayan Springs North asset to Sun Silver (ASX:SS1) for up to $800,000.

The transaction provides immediate non-dilutive capital while maintaining asset exposure through a 1% net smelter return royalty.

The agreement includes a provision granting Sun Silver the right to repurchase half of this royalty for $2 million.

The company stated that this divestment crystallises asset value and allows for capital reallocation towards core technology development.

Following the announcement, the Bayan share price was unchanged at $0.064.

Bayan Mining retains full ownership of the Bayan Springs South asset, which recently yielded surface assays up to 8.25 g/t gold.

The company also recently concluded an 856-metre drilling campaign at its Desert Star project, with assays expected next month.