Mr. Graeme O'Neill reports

BAYHORSE SILVER ANNOUNCES 16 MILLION UNIT NON-BROKERED PRIVATE PLACEMENT FOR DRILL PROGRAM ON BAYHORSE MINE VTEM ANOMALY FOR POTENTIAL PORPHYRY COPPER TARGET

Bayhorse Silver Inc. has arranged a 16-million-unit non-brokered private placement at four cents per unit for gross proceeds of $640,000.

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 eight cents per common share for a period of 24 months from the date of issuance.

The funds received are to conduct the planned underground drilling program at the Bayhorse silver mine to test for the presence of a porphyry copper deposit, as announced in the company's news release BHS2024-19, 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.

Finder 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-a-day hold period from the date of issuance.

As the drilling program will be conducted from the established underground workings, a calculated intercept of the large low-resistivity anomaly that the company believes to be a potential porphyry copper, is 151 metres (m) (498 feet (ft)) below the Bayhorse silver mine main haulage way workings to approximately 1,020 ft (309 m) for a minimum 521 ft (158 m) vertical extent.

The Bayhorse exploration model holds that the silver/copper rich mineralized rhyolite at the Bayhorse silver mine could have its source in underlying shallow granites that may be conductive porphyry copper bodies as reflected by the low-resistivity anomalies (Conway, 2024). The highest silver/copper grade identified at the Bayhorse silver mine is 15 per cent silver, 17 per cent copper (BHS2014-01) while gold values up to 10 grams per tonne (g/t) have been reported from historical mining (Silver King Mines, 1984).

The anomaly extends from beneath the company's silver-/copper-rich Bayhorse silver mine in Oregon, United States, and extends northward for over 5,000 ft (1.5 kilometres (km)) and is open to the north.

A downhole geophysics program over an underground strike length of over 1,320 feet (450 m) using the existing underground drill holes, and including the new drill holes, is planned upon completion of this drill program to gain a clearer picture of the mineralization profile of the Bayhorse mine.

This exploration model is based largely on Hercules Metals recently discovered porphyry copper deposit underlying historic silver mines in the Cuddy Mountains district approximately 44 kilometres northeast of Bayhorse/Pegasus properties. There, the porphyry copper has a low-resistivity signature thus, it may be inferred that porphyry copper deposits could be present at Bayhorse/Pegasus and also at the mineral district.

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.