Mr. Graeme O'Neill reports

BAYHORSE SILVER MOBILIZES FOR IP GEOPHYSICAL SURVEYS OF THE PEGASUS PORPHYRY COPPER/SILVER PROSPECT AND THE BAYHORSE SILVER MINE

Bayhorse Silver Inc. has begun mobilization to its Pegasus porphyry copper/silver prospect and its silver-copper-antimony-rich Bayhorse silver mine in Oregon, for an IP (induced polarization) survey to be conducted by SJ Geophysics, commencing Oct. 11, 2025.

The Pegasus IP geophysical survey will cover the large low-resistivity anomalies identified in the company's airborne VTEM (versatile time domain electromagnetic) survey conducted in January, 2024, to better identify drill targets and depths into the anomalies. The anomalous area extends over 1.6 kilometres (km) in length and the VTEM results indicate a vertical extent of at least 550 m (1,804 feet (ft)). The survey should discriminate between rocks that conduct electrical current and those that do not, and can also measure the chargeability of a rock, which is its ability to hold a charge. Rocks with common but disconnected zones of sulphides have the largest chargeability responses and massive sulphides and copper porphyry are ideal chargeability targets.

The Bayhorse IP survey will extend the area of the original survey to cover the west side of the Bayhorse mine. The first survey under the eastern area identified a number of IP anomalies under the Bayhorse mine access road, where downhole silver assay results from drill hole WM2 were intersected, at an interval depth of from 22 to 33.5 m (72 ft to 110 ft) from surface. The most significant silver assay reported (BHS2025-12) was for two samples from the first 1.5 m (five ft) of the intersection -- 1,486.74 grams per tonne (g/t) (47.8 ounces per ton (oz/t)) and 719 g/t (23.12 oz/t) for an average 1,104 g/t (35.46 oz/t) within a 10.6 m (35 ft) zone of silver mineralization. A second 1.5 m (five ft) silver intersection within the mineralized zone assayed 770 g/t (23.12 oz/t), with the three m (10 ft) intersection averaging 937 g/t (30.12 oz/t) silver. (Full assay results are shown in attached table.)

The Bayhorse exploration model holds that the silver-copper-antimony rich mineralization at the Bayhorse silver mine extends across to the adjacent Pegasus porphyry copper prospect and could have its source in an underlying shallow pluton(s) that may host porphyry copper mineralization similar to what Hercules Metals has reported 40 km north of the Bayhorse silver mine.

Significant copper credits are associated with silver at the Bayhorse silver mine. In 2020, the company conducted a metallurgical test on a 200-kilogram (kg) mined sample and passed it through the company's ore sorter, which gave a five kg 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) that has a significant antimony content.

Bayhorse chief executive officer Graeme O'Neill, director Christos Doulis, and geologist and director Mark Abrams will be at the Bayhorse mine and Pegasus project during the IP survey, and Mr. O'Neill and Mr. Abrams will be attending the Idaho Mining Conference, Boise, Idaho, Oct. 27, 2025, and Oct. 28, 2025.

Cautionary statement

The company is not basing any decision to produce on a feasibility study of mineral reserves demonstrating economic and technical viability, and advises there is an increased uncertainty and specific economic and technical risk of failure with any production decision. These risks include, but are not limited to: (i) a drop in price of commodities produced, namely silver, copper, lead and zinc, from the pricing used to make a production decision; (ii) failure of grades of the produced material to fall within the parameters used to make the production decision; (iii) an increase in mining costs due to changes within the mine during development and mining procedures; and (iv) metallurgical recovery changes that cannot be anticipated at the time of production.

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 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 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 oz/t (673 g/t) for 6.3 million ounces of silver. (Turner et al., 2018), and the Pegasus project, a highly prospective porphyry copper prospect, in Washington county, Idaho. The Bayhorse silver mine and the Pegasus project are 44 km 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, which 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, 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.

We seek Safe Harbor.