Mr. Graeme O'Neill reports

BAYHORSE SILVER SUBMITS 115 METERS OF CORE SAMPLES FOR ASSAY, AND PLANS DOWNHOLE GEOPHYSICAL SURVEYS OF THE BAYHORSE SILVER MINE

Bayhorse Silver Inc. is submitting 77 assay samples totalling 115 metres (381 feet) from the company's continuing drilling program at its silver-copper-antimony-rich Bayhorse silver mine in Oregon, United States. The samples come from the bottom of the first 206 metres of the current drill hole, BH24-01, that has a targeted depth of 260 metres (850 feet).

The assays will be for 35 elements plus gold as historic gold values up to 10 grams per tonne have been reported (Silver King Mines, 1984), and the company has sampled up to 1.71 g/t gold (BHS2022-04) (BHS2018-23) (BHS2018-06) in the historic workings, including an unreported 0.9 g/t gold during development of the mine's secondary escape way, between the current drill site location and the Bayhorse VTEM anomaly it is targeting.

The company is also planning a downhole geophysics program to supplement the VTEM survey. This should reveal additional drill targets into the Bayhorse mineralization. The downhole survey will cover a vertical depth of 250 to 300 metres (825 to 1,000 feet), to an east-west strike of up to 270 metres (890 feet).

The downhole geophysical survey should discriminate between rocks that conduct electrical current and those that do not. There are areas of strong silicification, epithermal-style vuggy quartz veining and hydrothermal brecciation in hole BH24-01. This alteration could mark the hole's proximity to porphyry or related epithermal mineralization.

Downhole induced polarization surveying tools can also measure the chargeability of a rock, which is its ability to hold a charge. Rocks with common but disconnected zones of sulphides have the largest chargeability responses, and massive sulphides and copper porphyry are ideal chargeability targets.

The downhole surveys may also add to the low-resistivity zone identified in the VTEM survey that lies west of the Bayhorse mine workings.

The company's senior consulting geologists have suggested the zone is a highly silicified hydrothermal polymictic breccia. It contains some rounded, possibly milled clasts that probably resulted from high-pressure fluids derived from a buried pluton streaming up through the breccia.

Rock types that make up the bulk of the breccia include rhyolite, andesite, quartzite, meta sedimentary rocks and granite.

The Bayhorse exploration model holds that the silver-copper-antimony-rich mineralization at the Bayhorse silver mine could have its source in an underlying shallow pluton that may host porphyry copper mineralization. For comparison, on Jan. 15, 2025, Hercules Metals Corp. reported drilling into a similar hydrothermal breccia in hole HER-24-20, which intersected copper mineralization.

Bayhorse chief executive officer Graeme O'Neill will be attending the Minerals Investor Forum, Jan. 17 and Jan. 18, Vancouver Resource Investment Conference, Jan. 19 and Jan. 20, and the Cordilleran Roundup, Jan. 20 to Jan. 23, in Vancouver, B.C.

This news release has been prepared on behalf of the Bayhorse 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 news release.

About Bayhorse Silver Inc.

Bayhorse 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 Metals' porphyry copper discovery. The Bayhorse mine includes 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 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 and 15,000 g/t 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.