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File: Attachment BHS2019-39.docx

////////////December 31, 2019  BHS2019-39

BAYHORSE CLOSES NON-BROKERED PRIVATE PLACEMENT TRANCHE

Bayhorse Silver Inc. BHS: TSX-V (the "Company" or "Bayhorse") announces that, subject to the approval of the TSX-V, it
---> has closed a second tranche of its previously announced non-brokered private placement consisting of 2,100,000 flow-t
--->hrough units at $0.125 cents per unit, for gross proceeds of $262,500. Each flow through unit consists of one common s
--->hare and one transferable common share purchase warrant exercisable into one common share of the Company at an exercis
--->e price of $0.25 for a period of twenty-four months from the date of issuance (the "Warrant"). The Company paid $8,750
---> cash and issued 70,000 Warrants as finder's fee.

In accordance with the TSX Venture Exchange rules, the shares issued are subject to a four month plus a day hold perio
--->d from the date of issuance.

Proceeds are to advance the Company's Brandywine project in British Columbia, Canada.

Bayhorse CEO, Graeme O'Neill, has subscribed for 1,000,000 flow-through units for gross proceeds to the Company of $12
--->5,000. He has funded his subscriptions through the sale, both privately and through the facilities of the TSX Venture 
--->Exchange, of 1,250,000 common shares of the Company. Bayhorse CFO, Rick Low, has subscribed for 100,000 flow through s
--->hares for gross proceeds to the Company of $12,500.
In addition to any other exemption available to the Company, participation in the non-brokered private placement is al
--->so open to all existing shareholders, even if not accredited investors, under the "existing shareholder" exemption of 
--->National Instrument 45-106 as promulgated in Multilateral CSA notice 45-313 in participating jurisdictions.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full respo
--->nsibility for its contents. 

On Behalf of the Board,

Graeme O'Neill, CEO
company@bayhorsesilver.com
1-866-399-6539

About Bayhorse Silver Inc.
Bayhorse Silver Inc. is an exploration and production company with a 100% interest in the historic Bayhorse Silver Min
--->e located in Oregon, USA, and has optioned the Brandywine, precious metals rich, volcanogenic massive sulphide propert
--->y located in B.C., Canada. The Company has an experienced management and technical team with extensive mining expertis
--->e surrounding exploration and building mines.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.