Mr. Graeme O'Neill reports

BAYHORSE SILVER RECEIVES SIGNIFICANT MAG VTEM SURVEY RESULTS ON ITS IDAHO BAYHORSE PROPERTY

Bayhorse Silver Inc. has received strong mag results from the recently completed Geotech Ltd. helicopter-borne VTEM and horizontal magnetic gradiometer geophysical survey over its Bayhorse silver mine property in Oregon and Idaho, United States.

The company is pleased to report the presence of three significant magnetic anomalies, within an area 1.8 kilometres by 1.2 km (1.13 miles by 0.75 mile) in the northern section of the property from where the "low resistivity" signatures were announced in the southeast section of the Idaho property.

There are possibly two different mineralized targets on the newly acquired Idaho claims. A Bayhorse mine style silver-rich massive sulphide target related to the strong magnetic signatures and a possibly Hercules silver-type copper porphyry target marked by the strong minimal resistivity results.

Bayhorse chief executive officer Graeme O'Neill comments, "That the large significant magnetic anomalies in the north of the Idaho property, may significantly increase the discovery potential of additional Bayhorse style silver-rich mineralization such as is present at the Bayhorse silver mine, as well as a copper porphyry deposit as found at Hercules Silver property, 44 km to the north in similar geological terrain."

Due to the historic reported gold grades of up to 10 grams per tonne at the Bayhorse mine (Silver King mines, 1984) and presence of high-grade gold properties in close proximity to the Bayhorse mine (Gleason, eight km to the west, Connor Creek, six km to the north) the company's senior geological consultants believe it possible that the silver-rich Bayhorse mine epithermal mineralization may be underlain by a gold-rich zone.

Dr. Clay Conway, PGeol, has mapped rhyolite-hosted mineralization east of the Snake River in the area underlain by the strong magnetic anomalies. This raises the possibility that another Bayhorse silver-rich deposit may be found at the hydrothermally altered rhyolite contacts.

It has long been known that there is a strong genetic and spatial relationship between porphyry plutons (which are the source of the hot fluids and metals) and outlying or overlying epithermals, skarns, mantos and even vein systems. If the metals stay in the pluton or close to its margins it may end up as a Cu porphyry. If in addition the fluids move upward along conduits, then this could result in precious metal epithermal mineralization like the Bayhorse high-grade silver deposit.

During the recent staking of the Idaho property, surface sampling was conducted on the historic adits, pits and dumps. More copper-stained surface exposures were identified. This work will form part of a further comprehensive mapping program.

The company announces that, subject to the approval of the TSX Venture Exchange, the company has extended the expiry date of the following warrants (all other terms remain unchanged):

1. Original expiry date of 11,497,000 warrants: March 28, 2024;
2. New expiry date of 11,497,000 warrants: March 28, 2025.

Exercise price of warrants:  15 cents

Mark Abrams, AIPG certified professional geologist, a qualified person and director of the company, has prepared, supervised the preparation of, and approved the technical content of, this press release.

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 silver and 10 per cent to 12 per cent copper, 10 per cent to 12 per cent antimony, and 15 per cent to 18 per cent zinc 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.

An anonymous director reports