Mr. Graeme O'Neill reports

BAYHORSE TO UNDERTAKE UNDERGROUND DRILLING PROGRAM AT THE BAYHORSE MINE

Bayhorse Silver Inc. is mobilizing for an underground drilling program at its Bayhorse silver mine in Oregon, U.S.

The program will initially drill test the 300-foot strike length of the Big Dog zone hangingwall to test it to depth and along strike using its existing drill rig. This rig, which is capable of drilling 30-metre (100-foot) holes, has been used to plan mining operations. The company believes there are no historic drill holes under the lower-level workings that have tested the mineralized zone to depth.

Gold grades up to 10 grams per tonne (g/t) were reported during the historic 1984 mining program, and the highest grade of silver/copper was 15 per cent silver and 17 per cent copper (Bayhorse news release dated Jan. 14, 2014). Bayhorse senior geological consultants Dr. Gerry Ray and Dr. Clay Conway believe that drill testing to depth should be a priority. For this, the company will secure an underground drill rig capable of up to 400-metre-long holes (1,300 feet), while the initial drill program is under way.

Dr. Ray and Dr. Conway are currently assessing the Bayhorse structure and geology to determine how best to test at depth any underlying mineralization below the known mineral horizon from the extensive historic, underground workings.

The company is aware of the significant trading volume attributed to the recent announcements by Hercules Silver on its property, which lies approximately 40 kilometres (26 miles) north-northeast of the Bayhorse mine. Both the Bayhorse and Hercules mines have similar geological settings with similar silver mineralization, including significant copper, antimony and zinc credits. This has spurred Bayhorse to explore and extend the known silver-rich ore zones, including potential areas to depth.

The following excerpt is taken from the 2018 National Instrument 43-101 maiden inferred resource estimate by Apex Geoscience (Apex Geoscience NI 43-101 technical report, 2018).

Bayhorse chief executive officer, Graeme O'Neill, comments, "A recent Substack article was posted that the company's senior geologists have reviewed, and which they state gives a good summary of the geological similarities between the Hercules discovery and the Bayhorse mineralization."

This news release has been prepared on behalf of the Bayhorse board of directors, which accepts full responsibility for its content. Dr. Gerry Ray, PGeo, a qualified person and consultant to the company, has prepared, supervised the preparation of, and approved the technical content of this news release.

About Bayhorse Silver Inc.

Bayhorse is an exploration and production company with a 100-per-cent interest in the historic Bayhorse silver mine, located in Oregon, U.S. With state-of-the-art Steinert ore-sorting technology reducing waste rock entering the processing stream by up to 85 per cent, the company has created a minimum environmental impact facility capable of mining 200 tons of mineralization per day and the ability to process and supply 3,600 tons per year of silver/copper/antimony concentrate ranging between 7,500 and 15,000 g/t using standard flotation processing at its milling facility in nearby Payette county in Idaho, U.S., 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 British Columbia, Canada. The company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.