Bison Resources Limited

5 million, with experienced mining professional Tim Mackellar appointed as Chief Executive Officer to lead exploration across four Nevada projects targeting Carlin-type precious metal deposits. 5 million to fund its exploration activities. 1 square kilometres, positioned approximately 80 kilometres southeast of the city of Elko within the prolific Carlin Trend. This world-class gold district location provides strategic positioning for the company's exploration targets. The company appointed experienced mining professional Tim Mackellar as Chief Executive Officer to lead Bison Resources through its next phase of growth and exploration development.

Mackellar stated that the first quarter had been important for the company, highlighting the mobilisation of field crews across all four Nevada projects and the particularly pleasing results at Bald Peaks. He noted that with the airborne geophysics survey underway across the portfolio, the company is positioned to generate high-quality drill targets ahead of its maiden drill program, demonstrating the strategic focus on systematic exploration advancement. During the quarter, Bison Resources commenced its initial exploration work program comprising reconnaissance geological mapping, rock chip geochemical sampling and soil geochemical sampling across all four projects.

The program aims to conduct geological mapping to delineate outcropping lithologies, collect rock chip samples from spectral and structural targets, establish baseline soil geochemical datasets, and generate drill targets for future maiden drill programs at priority prospects. Activities focus on validating hyperspectral anomalies through rock chip sampling and delineating surface geochemical anomalism through project-wide soil sampling across the Nevada portfolio. 5-kilometre-strike arsenic-antimony geochemical anomaly with strong pathfinder elemental association (As-Sb +/- W-Hg-Tl) indicative of a potential Carlin-type mineral system.

The presence of strong arsenic-antimony anomalism, coupled with moderate intensity silica-alteration and decalcification, indicates sampling has identified a proximal halo to a Carlin-type hydrothermal system, suggesting the core of the mineralising system remains yet to be revealed. Carlin-type gold deposits are recognised as amongst the world's largest gold systems, typically identified during exploration by broad halos of pathfinder elements including proximal arsenic-antimony anomalism and distal mercury-thallium anomalism. 's (TSX: TXG) high-grade Medicine Springs silver project and proximal to Sun Silver's (ASX: SS1) 539-million ounce silver-equivalent Maverick Silver Project.

The geological and structural setting of Bald Peaks is similar to the Maverick Silver Project, providing context for the exploration model. 5 million raised through the oversubscribed IPO provides Bison Resources with immediate funding to accelerate its exploration programs across the four-project Nevada portfolio. The capital has enabled the company to commence its maiden field program with geological mapping, rock chip and soil sampling activities now underway across all projects, with mapping ongoing at Ruby Lake, Cherry Springs and Medicine Range projects alongside the advanced work at Bald Peaks.

The company is aiming to define anomalies for drill testing of mineralisation later in 2026, with the airborne geophysics survey currently underway providing additional data to support drill target generation. This capital position positions the company to fund systematic exploration advancement and maintain momentum toward its maiden drill program without immediate capital constraints. Beyond the Bald Peaks Project, Bison Resources' portfolio includes three additional projects with distinct exploration targets.