Mr. Graeme O'Neill reports

BAYHORSE SILVER INSTALLS ITS STEINERT ORE-SORTER AT ITS BAYHORSE FLOTATION MILL, PAYETTE, IDAHO, USA

Bayhorse Silver Inc.'s Steinter ore sorter has been returned from its 22-month rental to Canadian Critical Minerals Inc. and has been installed at the company's 60-ton-per-day flotation mill in Payette, Idaho.

During the rental period, Critical relied upon the sorter to generate revenue from upgrading their existing 180,000-ton copper/silver/gold stockpile at its Bull River mine to a preconcentrate that was then shipped to the New Afton mill for processing. The company has received gross rental revenue totalling approximately $718,000 (U.S.) from the rental to Critical.

The company has opted to install the sorter at its mill so it can be used for third party processing and potential revenue generation while the Bayhorse mine permitting is completed.

The Bayhorse silver mine mineralization is primarily tetrahedrite, which is an antimony sulfide of silver, copper, iron and zinc in veins and stockworks with minor gold present. Using its ore sorter, the company has conducted significant testing, and found it very effectively separates the vein mineralization from the surrounding rhyolite/andesite host rock, reducing the mined tonnage by as much as 75 per cent or more, depending upon grade. During its 1984 mining program, Silver King Mines reported 21 per cent of the Bayhorse mined grades were from 20 ounce per ton to 100 oz/t, 73 per cent of the mined grades were between 6 oz/t and 20 oz/t, with 6 per cent being under 6 oz/t; that was the cut-off grade at that time. Up to 10 g/t gold was also reported by Silver King Mines. The company is using these historic averages as a guide in its mining program when permitted (BHS2022-05).

The tetrahedrite, which is refractory in nature, is to be processed at the company's 60-ton/day flotation mill. Metallurgical testing of the Bayhorse mineralization by Metsolve Labs, Langley, B.C., has indicated a typical concentrate will range between 7,500 to 12,000 grams per ton silver, 9 per cent to 11 per cent copper, 10 to 12 per cent antimony and 15 to 18 per cent zinc. With silver now added to copper, antimony and zinc as "critical minerals" in the United States by the United States Geological Service, the company has been researching means to separate each of the minerals from its flotation concentrate as value added extras, especially antimony, as a 55 per cent concentrate is currently quoted at $8.51 (U.S.) per pound on the Shanghai Metals Exchange.

Recent news from America's Gold and Silver (AGS) Galena mine in Idaho's "Silver Valley" which has similar "tetrahedrite" (silver, copper, antimony) mineralization to the Bayhorse silver mine, has reported that after submitting its mineralization to SGS Laboratories for metallurgical testing for optimum recoveries, the tests showed significant recoveries of silver/antimony/copper. The subsequent flotation concentrate was leached by Allihies Engineering Inc. using its proprietary, selective industrial alkaline selective leaching (ASL) hydrometallurgical technology, that confirmed very high extraction rates of antimony are possible.

The company is investigating the Allihies process to see if it can be incorporated into its Mill to extract the silver/antimony/copper/zinc from its flotation concentrate and unlock their individual values.

Bayhorse chief executive officer Graeme O'Neill comments: "The company has conducted significant research into using the 'Sunshine leaching process' that was used at the historic Sunshine silver mine, Kellogg, Idaho, that reportedly achieved antimony leach separation recoveries of up to 87 per cent; however, Allihies confirms up to 99-per-cent leaching recovery using its proprietary, selective industrial ASL hydrometallurgical technology. Once the antimony is leached from the tetrahedrite, the gold, silver, copper and zinc becomes available for refining into their pure metal form."

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, with a National Instrument 43-101 inferred resource of 292,300 tons at a grade of 21.65 ounces per ton (673 grams per tonne) 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 of 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, 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.

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