File: '\\swfile\EmailIn\20241203 151059 Attachment BHS2024-26 Warrant Extension and Options Grant.docx'

December 3, 2024. BHS2024-26

Bayhorse Silver Extends Warrants and Grants Stock Options

Bayhorse Silver Inc, (BHS: TSX-V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the "Company" or "Bayhorse") announces extension of warrant expiry date and grant of stock options.

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):

Existing expiry date of 3,500,000 warrants: December 23, 2024.

New expiry date of 3,500,000 warrants: December 23, 2025.

Exercise price of warrants: $0.15 cents.

Existing expiry date of 10,787,500 warrants: December 20, 2024.

New expiry date of 10,787,500 warrants: December 20, 2025.

Exercise price of warrants: $0.10 cents.

The Company announces a grant of 1,150,000 incentive stock options to employees, consultants and contractors. The options vest on the date of grant and are exercisable at $0.06 cents per share for five years from date of grant.

This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its content.

On Behalf of the Board.

Graeme O'Neill, CEO

866-399-6539

About Bayhorse Silver Inc.

Bayhorse Silver Inc. is an exploration and production company with a 100% interest in the historic Bayhorse Silver Mine located in Oregon, USA and the Pegasus Project, in Washington County, Idaho. The Bayhorse Silver Mine and the Pegasus Project are 44 km southwest of Hercules Metals' 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%. The Company 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 concentrate ranging between 7,500 to 15,000 g/t using standard flotation processing at its milling facility in nearby Payette County, Idaho, USA, with an offtake agreement in place with Ocean Partners UK Limited. The Company also has an option to acquire an 80% interest in the Brandywine high grade silver/gold property located in B.C. Canada. The Company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.