Mr. Graeme O'Neill reports

BAYHORSE ANNOUNCES $300,000 NON-BROKERED FLOW-THROUGH PRIVATE PLACEMENT FOR CANADIAN QUALIFIED EXPLORATION EXPENDITURES

Subject to TSX Venture Exchange approval, Bayhorse Silver Inc. has arranged a three-million-unit flow-through private placement for gross proceeds of $300,000. Each flow-through unit will consist of one common share of the company and one transferable common share purchase warrant at 10 cents per unit. Each common share purchase warrant is exercisable into one common share of the company at an exercise price of 15 cents for two years from date of issuance.

In addition to any other exemption available to the company, participation in the non-brokered financing is also open to all existing Canadian 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 finances raised are for the purposes of advancing the company's Brandywine gold project 40 minutes by paved highway north of Vancouver, B.C.

The company has recently published a National Instrument NI-43-101 technical report (Apex Geoscience, 2021) on the Brandywine property and, subject to any final permitting approval, is planning to complete the first-stage geological and geophysical work program at the earliest opportunity. As reported in the company's news release, visible gold was identified at the Dave's Pond drilling locations as outlined in the company's QA/QC (quality assurance/quality control) report that forms part of the NI-43-101 technical report

Finders' fees may be payable on a portion of the financing not taken down by insiders according to the policies of the TSX Venture Exchange.

Securities issued under this placement will be subject to a four-month-plus-a-day hold period from the date of issuance.

The company announces a grant of 200,000 incentive stock options to senior Bayhorse mine operations staff. The options are exercisable at 15 cents per share for five years from date of issuance.

About Bayhorse Silver Inc.

Bayhorse Silver is an exploration and production company with a 100-per-cent interest in the historic Bayhorse silver mine located in Oregon, United States. With state-of-the-art Steinert ore-sorting technology reducing waste rock entering the processing stream by up to 85 per cent, it has created a minimum environmental impact facility capable of mining 200 tonnes of mineralization per day and the ability to process and supply 3,600 tonnes per year of silver/copper concentrate ranging between 7,500 to 15,000 grams per tonne (g/t) using standard flotation processing at its milling facility in nearby Payette county, Idaho, United States, with an offtake agreement in place with Ocean Partners U.K. Ltd. The company also has an option to acquire an 80-per-cent interest in the Brandywine high-grade silver/gold property located in B.C., Canada. The company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.