James Bay Minerals

James Bay Minerals Limited (ASX: JBY) is an Australian exploration company focused on advancing the Independence Gold Project in Nevada, USA—one of the world's premier mining jurisdictions. The project hosts a significant NI 43-101 Mineral Resource Estimate of 1.18 million ounces of gold, with an additional 7.6 million ounces of silver credit, positioning it as a high-potential gold asset with expansion opportunities.

Strategically located near Newmont and Barrick’s Phoenix Mine Complex, the project benefits from established infrastructure, excellent access, and a fast-tracked permitting pathway that could enable development approvals within 8-12 months. Recent drilling has confirmed high-grade near-surface mineralization, including intercepts of 9.1 g/t gold over 24.4 meters, highlighting the project's robust exploration upside.

With a strong management team and a focused exploration strategy, James Bay Minerals is advancing the Independence Gold Project toward development, aiming to unlock its full potential and create long-term value for shareholders.

‍

James Bay Minerals presents a compelling investment opportunity, underpinned by its high-grade Independence Gold Project, located in Nevada’s prolific Battle Mountain-Eureka Trend. With an existing NI 43-101 Mineral Resource Estimate and significant high-grade skarn mineralization (796,200 oz gold at 6.53 g/t), the project is well-positioned for resource expansion and future development.

The company's strategic advantage lies in its near-term production potential. Independence is one of the few advanced-stage projects in Nevada that could fast-track a heap leach operation within 8-12 months, leveraging existing permitting approvals. Additionally, the project's proximity to major mining infrastructure, including roads, power, and water, significantly reduces capital intensity.

With gold prices at strong levels and investor demand for de-risked, high-quality gold projects, James Bay Minerals is uniquely positioned to capitalize on this opportunity. Ongoing exploration, resource expansion drilling, and project development studies are set to further enhance the company’s valuation, offering substantial upside for investors seeking exposure to a high-grade gold project in a world-class jurisdiction.

‍

James Bay Minerals Limited is led by an experienced management team with a strong track record in mineral exploration, project development, and corporate strategy. Their combined expertise positions the company for success in advancing the Independence Gold Project toward production.

Gerard O’Donovan – Non-Executive Chair
A seasoned mining executive, Gerard O’Donovan brings extensive leadership experience, having held key roles at Sun Silver, Battery Age Minerals, Pilbara Minerals, and Rio Tinto. His strategic oversight ensures disciplined corporate growth and shareholder value creation.

Andrew Dornan – Executive Director
The founder of James Bay Minerals, Andrew Dornan has over 19 years of senior management experience across major mining companies, including Newmont, Rio Tinto, Pilbara Minerals, Tianqi Lithium, and Fortescue Metals Group. His expertise in commercial strategy and operations drives the company’s project execution and corporate initiatives.

Jay Ward - Exploration Manager
An experienced Exploration Manager and geologist engaged through OMNI GeoX, contributing to projects like the Karlawinda Gold Project (Capricorn Metals). Played a key role in expanding Strickland Metals’ Millrose Gold Deposit, leading to its $61M sale to Northern Star Resources.

The company’s board and leadership team collectively provide the technical, operational, and financial expertise required to advance James Bay Minerals as a leading gold exploration and development company.

‍

James Bay Minerals is executing an aggressive growth strategy centered on advancing the high-potential Independence Gold Project. The company’s plan is to expand its NI 43-101 Mineral Resource through targeted drilling and resource delineation, with a strong focus on high-grade near-surface mineralisation and skarn expansion potential.

Key elements of the strategy include:

Accelerated Exploration and Resource Expansion:
Ongoing drilling programs are designed to validate and extend existing resource estimates, with early results demonstrating promising high-grade intercepts. The goal is to convert the current NI 43-101 resource into a JORC 2012 compliant asset, unlocking further exploration upside.

Streamlined Permitting and Development:
Leveraging its strategic location in Nevada—America’s top-tier gold mining jurisdiction—and proximity to established mining infrastructure, James Bay Minerals is well positioned to fast-track permitting. The project could potentially achieve operational readiness for a heap leach process within 8-12 months, significantly de-risking early-stage development.

Capital Efficiency and Strategic Partnerships:
By capitalizing on the favorable permitting environment and existing infrastructure near the Phoenix Mine Complex, the company aims to reduce upfront capital expenditure. Additionally, James Bay Minerals remains open to forming strategic partnerships or joint ventures to further de-risk and accelerate project development.

‍

James Bay Minerals Limited (ASX: JBY) is well-capitalized to advance its Independence Gold Project, supported by a disciplined financial strategy and a focus on maximizing capital efficiency. As of its most recent financial update:

• Shares on Issue: 61.46 million
• Share Price (as of 25 November 2024): AUD 0.74
• Market Capitalization: AUD 66.39 million
• Cash Reserves: AUD 2.74 million (excluding ~AUD 888,000 in accrued Canadian mining tax credits)
• Top 20 Shareholders Ownership: ~62%

The company’s low-capital-intensity strategy is bolstered by the project’s proximity to existing infrastructure, significantly reducing upfront costs. Additionally, with a potential heap leach operation that could be permitted within 8-12 months, James Bay Minerals is positioned to achieve near-term production at a competitive cost structure.

The company remains focused on securing additional funding through equity, strategic partnerships, or project-level financing, ensuring sufficient capital for further resource expansion drilling, feasibility studies, and permitting activities. Given the strong demand for gold and silver amid a favorable commodity price environment, James Bay Minerals is well-positioned to generate long-term shareholder value.

‍

James Bay Minerals Limited (ASX: JBY) is advancing the Independence Gold Project, a highly prospective gold asset in Nevada, one of the world’s top mining jurisdictions. With an established NI 43-101 Mineral Resource Estimate of 1.18 million ounces of gold, an additional 7.6 million ounces of silver credit, and a high-grade skarn mineralization component, the project offers significant exploration upside and near-term development potential.

The company's strategic location near major mining infrastructure, coupled with fast-tracked permitting pathways, positions it for accelerated project execution and potential low-cost production via heap leach processing. Backed by an experienced management team, James Bay Minerals is focused on resource expansion, permitting, and optimizing its development strategy to maximize shareholder value.

With strong gold market fundamentals, growing investor demand for de-risked mining projects, and a disciplined financial strategy, James Bay Minerals presents a compelling investment opportunity. As the company advances through key exploration and development milestones, it remains committed to sustainable growth, responsible mining practices, and long-term value creation.

For investors seeking exposure to a high-grade gold project with near-term production potential, James Bay Minerals Limited stands out as a promising and well-positioned exploration company in a world-class jurisdiction.

‍