Mr. Graeme O'Neill reports

BAYHORSE SILVER COMMENCES UNDERGROUND DRILL PROGRAM

Bayhorse Silver Inc. has commenced the first stage of its underground drill program at its Bayhorse silver mine in Baker county, Oregon, United States.

The first drill holes are to confirm the Big Dog hangingwall mineralization, where prior drill results have identified silver grades of 6.75 ounces/ton over six metres (BHS22-08) and grab samples taken from the Big Dog zone returned 218.2 oz/t (6,786.76 grams per tonne) and 30.17 oz/t (938.4 g/t) silver, respectively, while a Goldilocks sample returned 145.05 oz/t (4,511.5 g/t) silver (BHS22-07).

The second stage of underground drilling will be to target a low-resistivity zone identified from the recent VTEM (versatile time-domain electromagnetic) survey, that starts immediately to the west of the western end of the current underground workings.

The known strike of the Big Dog hangingwall zone is 100 metres (330 feet) with a 12-metre (40-foot) known vertical extent.

A surface drill program is currently in the permitting stage targeting the large low-resistivity zone on the southeast corner of the Bayhorse Idaho property, that appears to extend to the east, beyond the VTEM survey area. Drill target 1 and drill target 2 are 600 metres (2,000 feet) apart, with the smaller low-resistivity drill target 3 a further 1,000 metres (3,300 feet) to the north, to determine whether a copper porphyry exists on 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: "The low-resistivity anomaly both immediately west and east of the Bayhorse mine underground workings makes it a priority for further drill testing. As well, the low-resistivity anomalies in the east of the Idaho property may significantly increase the discovery potential of a copper porphyry deposit as found at Hercules silver property, 44 kilometres to the north in similar geological terrain.

Due to the historic reported gold grades of up to 10 g/t 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 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.

This news release has been prepared on behalf of the Bayhorse Silver board of directors, which accepts full responsibility for its content. 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, U.S. 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 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 silver, and 10 to 12 per cent copper, 10 to 12 per cent antimony and 15 to 18 per cent zinc using standard flotation processing at its milling facility in nearby Payette county, 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.