Mr. Graeme O'Neill reports

BAYHORSE SILVER ASSAY RETURNS 0.61% COPPER AVERAGE FROM TWO ASSAY SAMPLES OVER 1.5 M (5FT) AVERAGING 6100 G/T (0.61% CU) BASE METALS MINERALIZATION AT THE BAYHORSE SILVER MINE, OREGON, USA

Bayhorse Silver Inc. has received the assay results for copper, antimony and zinc from the reverse circulation, 12-inch, water test hole WM2. It has previously reported the very high-grade silver intervals for two samples from the first 1.5 metres (five feet) of the intersection -- 1,486.74 grams per tonne (47.8 ounces per ton) and 719 g/t (23.12 ounces per ton) for an average 1,104 g/t (35.46 ounces per ton) -- and is happy to report copper grades of up to 0.66 per cent over the same interval.

Hole WM2 was drilled 85 m (278 ft) north of and 37 m (123 ft) below the historic Sunshine stope from beside the mine access road and intersected mineralization plus or minus 70 feet below the collar. True thickness/widths of the mineralization are unknown. As copper mineralization was present in the cuttings, the samples were also submitted for 35-element ICP assay for copper and other base minerals. The silver/copper/antimony/zinc assays are tabulated below.

Significant copper credits are associated with silver at the Bayhorse silver mine. In 2020, the company conducted a metallurgical test on a 200-kilogram mined sample and passed it through the company's ore sorter that gave a five-kilogram ore sorter select sample with a head grade of 985 g/t (28.8 oz/t) silver, 1.16 per cent copper and 1.87 per cent zinc. The testing achieved silver/copper concentrate recoveries of 86.7 per cent, resulting in a silver grade of 9,700 g/t and 10 per cent copper. The dominant mineralization at the Bayhorse mine is tetrahedrite (BHS2020-12).

Bayhorse chief executive officer Graeme O'Neill commented: "The prospect of extending the Bayhorse mineralization onto our Pegasus project and the steady rise in silver prices along with recent increases in prices for copper, antimony and zinc credits that come with the high-grade silver intersections at the Bayhorse silver mine is very positive for Bayhorse shareholders. Our copper grades are very encouraging but not surprising. Our ore sorted concentrate has shown up-to-10-per-cent copper credits which would be very consistent with the results reported here given the sorter's rejection of between 85 and 90 per cent of the material leading to significant improvements in final grade."

The north-south extent of mineralized zones defined by the induced polarization anomalies has been extended up to 190 m (623 ft) while, as disclosed in the company's news release BHS2025-11, the east to west strike extent has increased to nearly 500 m (1,640 ft). By extending the known areas of high-grade silver mineralization, it may lead to an increase in the company's National Instrument 43-101 inferred resource of 292,300 tons at a grade of 21.65 oz/t (673 g/t for 6.3 million ounces of silver) (Turner et al., 2018).

The silver/copper/antimony/zinc mineralization was encountered 70 ft downhole in drill hole WM2 that lies on the periphery of a large IP anomaly that was disclosed in the company's news release (BHS2025-05), with its halo estimated to be 100 feet in width and 140 feet of strike. Hole MW2 was completed in June, 2024, as a 12-inch reverse circulation hole drilled to a depth of 57 m (190 ft) that formed part of the groundwater testing program under the supervision of HRD Engineering of Boise, Idaho. Drill cuttings were collected and bagged every 1.5 m (five ft) as part of the geochemical assessment of the hole by HRD Engineering. A 12-inch reverse circulation drill hole provides a significantly larger sized sample from the mineralized interval compared with an NQ drill core.

Quality assurance/quality control measures and chain of custody

Drill cuttings were split and placed in sealed bags for preparation and subsequent analysis. The balance of the cuttings is retained in secure storage at the mine. Silver fire assays were conducted by Christopherson Inc. umpire assayers, Smelterville, Idaho, using 30-gram fire assay, aqua regia digestion, with a gravimetric finish for silver. The sample pulps created at Christopherson were then submitted to Paragon Geochemical's Sparks, Nev., facility for a 35-element suite using Paragon's 35 AR-OES (aqua regia and ICP (induced coupled plasma) multielement method.

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 secure facility on the property and then transported to the laboratory in a secure container in a pickup truck by the project geologist.

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, 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, with a National Instrument 43-101 inferred resource of 292,300 tons at a grade of 21.65 oz/t (673 g/t) for 6.3 million ounces of silver (Turner et al., 2018) 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 is a minimum environmental impact facility capable of processing at a mining rate up to 200 tons per day that includes a state-of-the-art 40-ton-per-hour Steinert ore sorter that reduces waste rock entering the processing stream by up to 85 per cent. The company has established an up-to-60-ton-per-day mill and standard flotation processing facility in nearby Payette county, Idaho, United States. The company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.