Mr. Graeme O'Neill reports

BAYHORSE SILVER EXTENDS KNOWN SILVER MINERALIZATION AT THE BAYHORSE SILVER MINE, OREGON, USA TO OVER 400M E-W AND 563M S-N

Bayhorse Silver Inc. has increased the known extent of mineralization at the Bayhorse silver mine to over 400 metres (m) east-west (1,312 feet (ft)) and 560 m (1,850 ft) north-south, with a now known vertical extent of 91 m (300 ft).

Two new mineralized zones have been confirmed at 310 ft and 380 ft under RC hole MW-1, a 725 ft vertical hole that was collared at 862 m (2,830 ft) ASL elevation, and 365 m (1,200 ft) southwest of the Bayhorse mine portal. The new zone lies 198 m (650 ft) southwest of the Goldilocks historic mined area at a similar elevation, where mined rounds grading up to 100 ounces per ton (oz/t) silver were partially mined in 1984 (Silver King Mines, 1984).

A second new mineralized zone has also been identified 30 m (100 ft) under RC hole MW-3, a 220 ft vertical hole that was collared 36.6 m (120 ft) southeast of the Bayhorse mine portal at 713 m (,2340 ft) ASL elevation, and which is 126 m (415 ft) south from, and at the same elevation as, the recently announced three m (10 ft) intersection of 917 g/t (29.6 oz/t). The width and thickness of the new zones is unknown at this time.

Bayhorse chief executive officer Graeme O'Neill comments: "By significantly extending the known areas of high-grade silver mineralization, further dill testing and sampling 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). With the Bayhorse and Pegasus claims renewed until August, 2026, we are looking to extend the Bayhorse silver mineralization onto our adjacent, 760 m (2,500 ft) apart, nearly nine-square-kilometre (four-square-mile) Pegasus project, with our upcoming IP survey that may also identify the presence of potential porphyry copper mineralization."

Quality assurance/quality control (QA/QC) measures, 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 will be conducted by Christopherson Inc. Umpire Assayers, Smelterville, Idaho. using 30-gram fire assay with a gravimetric finish for silver. The sample pulps created at Christopherson will then be submitted to Paragon Geochemical's Sparks, Nev., facility for a 35-element suite using Paragon's 35 AR-OES (aqua regia digestion) and ICP (induced coupled plasma) multielement method. Samples showing anomalous silver in the 35-element scan will also be assayed for silver using silver (Ag) 30 g fire assay, AQR/digest/AAS (atomic absorption spectroscopy) or OES (optical emission spectroscopy) finish.

A blank was inserted at the start of the sample submittal and a prepared standard inserted every 20 samples. One duplicate was also inserted into the sample stream. The samples were stored in a secure facility on the property then transported to the laboratory in a secure container in a pickup truck by the project geologist.

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 Silver is an exploration and production company with a 100-per-cent interest in the historical Bayhorse silver mine, located in Oregon, 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 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. The company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.