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March 31, 2020                                                                                                    BHS2
--->020-04
BAYHORSE AMENDS TERMS OF 7,500,000 UNIT NON-BROKERED PRIVATE PLACEMENT 

Bayhorse Silver Inc. BHS: TSX-V (the "Company" or "Bayhorse") has amended its previously announced non-brokered privat
--->e placement for up to 7,500,000 Units at C$0.05 per Unit for gross proceeds of C$375,000. The private placement as ori
--->ginally announced did not conform with Exchange Policy 4.1.8 (b) and has been amended to the following.

Each C$0.05 Unit is to consist of one (1) common share, and one (1) transferable common share purchase warrant (a "War
--->rant"). Each Warrant is exercisable into one (1) common share of the Company at an exercise price of $0.10 cents, or, 
--->at the Warrant Holder's option, each 200 Warrants is exercisable into one (1) ounce of silver at an exercise price of 
--->C$20.00 per ounce (the "Silver Option"). The Warrants are exercisable for a period of 24 months from the date of issua
--->nce. The exercise of the Silver Option into silver is subject to the following conditions:

The Silver Option may only be exercised after the Company successfully mines and processes silver from the Bayhorse pr
--->operty prior to the maturity date of the Warrants, provided that the Company, at its sole discretion, delivers written
---> notice to each Warrant holder that they shall have the right to receive payment in kind by delivery of physical ounce
--->s of silver; and
The exercise of the Silver Option is subject to a minimum of five thousand (5,000) Warrants (25 ounces of silver) 
In addition to any other exemption available to the Company, participation in the non-brokered financing is also 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.

The funds raised are for the purpose of optimizing the metallurgical work on the silver recovery from the upgrading, p
--->rocessing and refining of silver mineralization from the Bayhorse Silver Mine, Oregon, USA., as well as general and ad
--->ministrative purposes.

Bayhorse CEO Graeme O'Neill comments, "in these trying times with the Covid-19 virus running rampant, and many busines
--->ses in either limited operations, or shut down entirely, we must make the health of our miners, consultants, and manag
--->ement our utmost priority. As a small mine, in a remote location, we are fortunate we can minimize social contact in o
--->ur operations, and, subject to the financing completion, get back to work quickly"

He also comments, "The market dislocation has gold and silver prices in flux, with almost 25% of annual world silver p
--->roduction reportedly already shut down in Chile, Peru, and Argentina. With gold refineries off-line, and the logistics
---> chain for moving silver and gold to mints in disarray, I believe it will be a while getting back to normal. As a smal
--->l silver mining operation, we are more flexible and with nearly 400 tons of pre-sorted silver mineralization ready for
---> final processing into silver concentrate, we should be able to get that concentrate ready for shipment in a short per
--->iod of time once we can resume operations."
 
The Company is not basing any decision to produce on a feasibility study of mineral reserves demonstrating economic an
--->d technical viability, and also advises there is an increased uncertainty and specific economic and technical risk of 
--->failure with any production decision. These risks include, but are not limited to, a drop in price of commodities prod
--->uced, namely silver, copper, lead and zinc, from the pricing used to make a production decision. Failure of grades of 
--->the produced material to fall within the parameters used to make the production decision and increase in mining costs 
--->due to changes within the mine during development and mining procedures. There are also metallurgical recovery changes
---> that cannot be anticipated at the time of production.

Finder fees may be payable on a portion of the financing not taken down by insiders according to the policies of the T
--->SX-V.

Securities issued under this placement will be subject to a four month and one day hold period from the date of issuan
--->ce.
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
investors@bayhorsesilver.com
1-866-399-6539
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 an option on 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.