Mr. Graeme O'Neill reports

BAYHORSE ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Subject to the approval of the TSX Venture Exchange, Bayhorse Silver Inc. has arranged a 15-million-unit non-brokered private placement for gross proceeds of $750,000.

Each unit will consist of one common share and one transferable common share purchase warrant. Each warrant will be exercisable into one common share of the company at a price of 10 cents per common share for a period of 24 months from the date of issuance.

The funds received are to conduct the planned initial underground drilling program at the Bayhorse mine, to conduct a deep-penetrating VTEM (versatile time-domain electromagnetic) survey over the entire Bayhorse property, to complete the company's full operating permit application for the Bayhorse silver mine, and for general and administrative expenses.

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.

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-one-day hold period from the date of issuance.

Subject to approval of the TSX-V, the company has extended the expiry terms of 1,940,000 warrants, exercisable at 15 cents from Dec. 23, 2023, to Dec. 23, 2024, and 1.56 million warrants, exercisable at 15 cents, from Dec. 31, 2023, to Dec. 31, 2024.

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, Bayhorse 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/antimony concentrate ranging between 7,500 and 15,000 grams per tonne 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 British Columbia, Canada. The company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.