Mr. Graeme O'Neill reports

BAYHORSE SILVER COMPLETES GROUND WATER TEST WELL DRILLING, EXTENDS KNOWN SILVER BEARING RHYOLITE ZONE 600 FEET WEST OF THE BAYHORSE SILVER MINE UNDERGROUND WORKINGS

Bayhorse Silver Inc. has completed the installation of three groundwater test wells at its Bayhorse silver mine in Oregon, United States, as the final part of its baseline studies required for the company's full mine operating permit.

The three test wells, two of plus-or-minus-150-foot depth and one of 750-foot depth, all intersected groundwater at a depth of plus or minus 2080 feet above sea level, which is the elevation of Idaho Power's Brownlee Hydro reservoir that the Bayhorse silver mine is situated beside.

The deepest test well, at more than 750 feet, lies 600 feet west of the Bayhorse underground mine workings and within the area of the recent VTEM (versatile time-domain electromagnetic) survey low-resistivity signature. This test well was collared at an elevation of 2,886 feet and was reported to have passed through the known geological lithologies of the Weatherby (schist) and Huntington (andesite) formations and the silver-bearing rhyolite zone of the Bayhorse silver mine. This deep test well confirms the silver-bearing rhyolite is present at depth a minimum 600 feet west from the current underground workings.

The test wells were installed under the direction and supervision of HDR Engineering of Boise, Idaho, through a groundwater test plan approved by Oregon's Department of Geological and Mineral Industries (DOGAMI).

Deep drilling from the underground workings at the Bayhorse mine is planned to test the extent of the mineralization in this rhyolite area.

Bayhorse chief executive officer Graeme O'Neill commented: "With completion of the groundwater test wells, the last of the baseline studies work has been completed, and we anticipate completing the final full mine operating permit application as soon as possible. Having confirmation of the projected extent of the silver-bearing rhyolite is a pleasant bonus from the test well drilling, and we are looking forward to commence the planned underground drill program to extend the known silver mineralized horizon westwards."

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).

Original expiry date of 12.75 million warrants:   Aug. 16, 2024

New expiry date of 12.75 million warrants:   Aug. 16, 2027

Exercise price of warrants:  10 cents

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, a qualified person has prepared, supervised the preparation of, or 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, and the Pegasus project in Washington county, Idaho. The Bayhorse silver mine and the Pegasus project are 44 kilometres southwest of Hercules Silver's porphyry copper discovery. The Bayhorse mine includes a 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 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 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.