Yes, just use the correct link to the bundle in your other project.
If you bundle is for example defines as
bundles.Add(new ScriptBundle("~/bundles/jquery").Include(
"~/Scripts/jquery-{version}.js"));
which can get accessed via
@Scripts.Render("~/bundles/jquery")
you can use
<script src='http://<host>/<site>/bundles/jquery' type='text/javascript' language='javascript' />
Just as simple as that.
If you have both applications installed on the same website (same root), you can also use relative URLs, e.g.
<script src='/XYZ/bundles/jquery' type='text/javascript' language='javascript' />