Mr. Graeme O'Neill reports

BAYHORSE SILVER EXTENDS BAYHORSE BRECCIA ZONE FROM 90 M (300FT) DOWNHOLE TO 318 M (1050 FT) REPORTS ANOMALOUS COPPER-ZINC ASSAY RESULTS FROM THE FIRST 115 M OF THE BRECCIA ZONE, AND PRELIMINARY IP RESULTS

Bayhorse Silver Inc. has received assay results for the first 115 metres (380 feet) of the silicified breccia zone encountered 90 m (300 ft) down hole in drill hole BH24-01 to test a VTEM anomaly at the Bayhorse silver mine.

Anomalous values of continuous copper (up to 125 ppm (parts per million)) and zinc (up to 695 ppm) and intermittent anomalous gold values (up to 0.023 ppm) were encountered in the first 115 m (380 ft) of the brecciation zone that now extends to the current bottom of the hole at 318 m (1,050 ft). A further 112 m of samples of brecciation and rhyolite have been submitted for assay. The presence of chalcopyrite was noted at the bottom of the hole.

Bayhorse chief executive officer Graeme O'Neill comments, "We are very encouraged by the continuous copper/zinc mineralization in the upper 115 m (380 ft) part of the 227 m (750 ft) length breccia intersection that lies in close proximity to the IP chargeability and low-resistance zones that may indicate the presence of massive sulfides/copper porphyry."

As well, the preliminary IP results by S.J. V Geophysics, that are overlaid on the geologic map, has identified both chargeability and low resistance targets extending to depth within the VTEM geophysics signature within the rhyolite hosted copper- and silver-rich Bayhorse silver mine deposit. The IP geophysical survey will be extended onto the Pegasus project as soon as ground conditions permit.

Drilling BH24-01 has confirmed that the Bayhorse Ag-Cu-Zn-Sb (silver-copper-zinc-antimony) mineralization is epithermal in nature and is expected to extend to significant depths. In hole BH24-01 there are areas of strong silica flooding, epithermal-style vuggy quartz veining, sporadic tetrahedrite mineralization and hydrothermal brecciation. This extends from 90 m (300 ft) to the current bottom of the hole at 318 m (1,050 ft). This alteration could mark the hole's proximity to a porphyry or related epithermal system.

The top of silver-bearing rhyolite dike 1 has been cut and offset by thrusting, and the overlying segment (dike 2) has been displaced to the south. This displaced section, with an estimated vertical extent of 120 m (396 ft), is the area of the company's planned mining based on the National Instrument 43-101 inferred resource of 6.3 m ounces of silver at a grade of 21.65 opt ((673 g/t) (Turner et al., 2018).

The company's senior consulting geologists have suggested the brecciated zone is a highly silicified hydrothermal polymictic breccia. It contains multiple rounded, "milled" clasts that probably resulted from high pressure fluids derived from a buried pluton streaming up through the breccia (BHS2024-29).

Bayhorse Silver chief executive officer Graeme O'Neill further comments, "The 3-D representation of our recently concluded surface and downhole IP program will better allow us to drill target the identified chargeability and low resistance zones within the VTEM signature information low."

The Bayhorse exploration model holds that the rhyolite hosted silver-copper-zinc-antimony-rich mineralization at the Bayhorse silver mine could have its source in an underlying shallow pluton that may host porphyry copper mineralization. The rhyolite extends from the Pegasus project and its VTEM anomaly that lies 1,500 m (5,000 feet) east of the Bayhorse mine workings in the state of Idaho, under the Snake River, to under the Bayhorse mine.

The final baseline study for the Bayhorse mine permitting is planned to be completed by the end of June, 2025, at which time the final operating permit application will be made. Once permitting is approved, silver/copper/antimony concentrate production can resume.

Bayhorse chief executive officer Graeme O'Neill comments: "With the gold price rising to $2,900 (U.S.) per ounce, (goldprice.org) the future price of silver is also expected to increase. The silver/copper concentrate that the company has already produced also contains plus/minus 12 per cent antimony, which is a critical mineral." The price of antimony surged 200 per cent in 2024, and antimony ingots are currently priced at $25,000 (U.S.)/ton.

Quality assurance/quality control (QA/QC) measures, chain of custody

Drill cores were cut in half using a diamond saw and placed in sealed bags for preparation and subsequent analysis by Paragon Geochemical's Sparks, Nev., facility using the PREP-PKG: preparation prep package. A blank was inserted at the start of the sample submittal and a prepared standard was inserted every 20 samples. One duplicate was also inserted into the sample stream. The samples were stored in a locked container on the property then transported to the laboratory in a secure container in a pickup truck by the project geologist.

Each prepared sample was assayed for gold using Paragon's Au-FA30: Au 30 g fire assay, AQR/digest/AAS or OES finish, and a 35-element suite was analyzed with Paragon's 35 AR-OES, which is a 35-element suite with one ppm Hg (mercury); 0.5 g AQR digestion/ICP-OES finish.

A total of 81 samples were analyzed. There were no overlimit samples. Analysis certificates were examined and no irregularities were found.

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, and a director of the company, 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.

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