Mr. Graeme O'Neill reports

BAYHORSE SILVER CONFIRMS STRIKE EXTENSIONS 150 METERS (492FT) OF SILVER MINERALIZATION AT THE BAYHORSE SILVER MINE, OREGON, USA. PLANS ADDITIONAL UNDERGROUND DRILLING PROGRAM TO EXTEND NEW HIGH GRADE DRIFT ZONE. POSTS BASELINE PERMIT STUDIES TO WEBSITE

Recent drilling and a review of drill holes MW2 and MW3 have confirmed Bayhorse Silver Inc.'s Bayhorse silver mineralization is epithermal in nature and has been identified as extending 150 metres beyond the most westerly extent of the existing underground workings for a total east-west strike length of nearly 500 metres (1,640 feet).

Underground diamond drilling is planned from drilling stations in the most westerly extent of the historic main east-west haulage way into the new high-grade Drift zone that lies parallel to, and 20 to 30 metres (65 to 100 ft) to the south of, the haulage way. The new Drift zone is estimated to be a minimum 10 metres in width, similar to other mined zones in the Bayhorse mine.

Three panel samples were taken across the westerly face of the Drift zone. These samples graded: 192.35 ounces per ton (5,984.72 grams per tonne) silver and 10.7 per cent copper, 50.88 oz/t (1,582.54 g/t) silver and 4.51 per cent copper, and 3.3 oz/t (102.64 g/t) silver and 1.72 per cent copper. (Surface samples are considered select samples and may not represent true values.)

The new Drift zone was discovered when driving the new access tunnel to safely access the historic Big Dog high-grade zone. Sampling identified silver mineralization on its south wall, and the new drift was started extending to the west and south of the Big Dog access tunnel.

While silver mineralization has been encountered 30 metres (100 ft) east of and below the historic Sunshine stope, diamond drill holes BHD25-001 and BDH25-002 targeted to the east of the historic Sunshine stope were abandoned due to poor ground conditions encountered while drilling. A new drill hole (BHD25-008) using the larger underground drill targeting the estimated 35- to 40-metre (115 to 132 ft) strike length of the zone is planned to drill test this target.

Significant volumes of sulphosalts containing high-grade silver, up to 240 ounces per ton, along with the critical minerals, copper, antimony and zinc, were mined from the Bayhorse silver mine before being closed in late 1984 due to low silver prices (Silver King Mines, 1984). Silver, copper, antimony and zinc mineralization both in the form of dark grey massive sulphosalts has been identified underneath the historic Junction stope and in veins and stockworks west of the Big Dog stope over a strike length of between 130 and 150 m (427 to 495 ft) (National Instrument 43-101 inferred resource of 292,300 tons at a grade of 21.65 oz/t (673 g/t) for 6.3 m ounces of silver) (Turner et al., 2018).

Bayhorse chief executive officer Graeme O'Neill commented: "With silver prices reaching as high as $37 (U.S.) per ounce this week, drilling to confirm the westward extent of high-grade silver mineralization becomes a major focus and will commence as soon as possible upon completion of our current financing. We have posted on the Bayhorse website many of the completed baseline studies required for the final operating permit application and are working to complete the final application."

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, 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 lie 44 kilometres 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 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 has an experienced management and technical team with extensive mining expertise in both exploration and building mines.