Mr. Graeme O'Neill reports

BAYHORSE SILVER UNDERTAKES METALLURGICAL BULK SAMPLE OF THE CRITICAL AND STRATEGIC SILVER, COPPER, ANTIMONY AND ZINC MINERALS FROM ITS BAYHORSE SILVER MINE

Bayhorse Silver Inc. is undertaking an approved run-of-mine metallurgical bulk sample of the Bayhorse silver mine's critical and strategic silver, antimony, copper and zinc mineralization from three established ready-to-commence-mining-from working faces located within the western extent of the underground workings over a vertical extent of up to 38 metres (125 feet), a width of 15.25 m (50 feet) and a strike length of 50 m (165 feet).

One sample will be taken from the newly established Big Dog zone working face as previously reported, and two samples will be taken from the middle and top of a 30.5-metre (100-foot) raise up into the Goldilocks zone, where, at the top, Silver King Mines in 1984 mined high-grade rounds grading up to 3,110 grams per tonne silver (100 ounces per silver) per ton, and, in the middle, where the company drill intersected 3.65 metres (12 feet) of 844 g/t (24.67 oz/t) silver of which the highest-grade interval was 0.6 m (two feet) of 2,180 g/t (63.65 oz/t) silver, as reported in a previous news release.

The approved 25-ton representative run-of-mine metallurgical sample will be taken from these three zones, sampled for assaying and crushed to minus 25 millimetres (one inch) before shipping to the company's fully permitted flotation mill in Payette, Idaho. The sample will then be ore-sorted though the company's Steinert KSS100 XRT ore-sorter and separated into three portions. The ore-sorter select, the ore-sorter reject and the under eight-millimetre fines are prescreened off before passing through the ore-sorter.

The ore-sorter selects will then be assayed to determine the ore-sorter upgrade for silver and other critical and strategic mineral content for milling and producing a flotation concentrate. The ore-sorter reject will be assayed to determine the suitability for mine backfill for permitting purposes, and the sorter prescreened fines will be assayed to determine whether they also can be milled and floated or can be rejected as it has insufficient metal content.

The bulk sample assay analysis will be conducted under National Instrument 43-101 standards and form part of the geochemical analysis required for the Bayhorse silver mine operating permit.

The metallurgical analysis will also establish, through the milling and flotation process, mill recoveries, tailings percentages, and necessary waste water remediation to allow proper disposal of the waste water from the milling process.

The company believes the flotation mill operates efficiently, as evidenced by four XRF field analyses measurements taken on 6.5-kilogram float concentrate samples reported in a previous news release.

Bayhorse chief executive officer Graeme O'Neill commented: "While the original sampling, ore-sorting and milling/flotation was conducted on mine development material, this bulk sample will mimic potential mining operations and give a clear indication of the ore-sorter select silver upgrade and what the final grades and recoveries likely will be when full-scale mining is resumed. We were very pleasantly surprised with the very high percentages of copper, antimony and zinc recovery in the concentrate along with the silver from the development material processing. With this 25-ton bulk sample, plus the sorted mine development material ready to mill and float at the Payette mill, we look forward to determining the tonnage and grade of the resulting float concentrate."

Mr. O'Neill further commented: "In the event that the antimony leaching test results currently under way are positive, all the critical metals will be freed for further processing or sale. With the new refining technologies available, we are exploring the potential for producing our own silver bars at the mill."

When mining is permitted, the mineralized run-of-mine material mined at the Bayhorse mine will be crushed to one inch minus (25 milimetres) and then fed through a Steinert ore-sorter where roughly 80 per cent of the run-of-the-mine material will be rejected as waste. The sorted material will then be trucked to a mill in Payette where it will be crushed further to minus 0.12 inch (three mm), then passed through the ball mill and floated, and the concentrate produced will be bagged and readied for further processing/smelting/leaching.

The dominant Bayhorse mineralization is primarily tetrahedrite that is composed of the critical and strategic minerals in an antimony sulphide of silver, copper, zinc and iron in veins and stockworks with minor gold present, and is refractory in nature.

Extracting the silver from refractory minerals presents several challenges as the complex mineral structures often leads to lower recovery rates compared with free milling minerals. Processing refractory minerals also requires high energy inputs, making it cost-prohibitive in some cases. Leaching permits the cost-effective separation of the antimony and sulphur and significantly increases recoveries of the silver, copper and zinc for processing separately.

The silver, antimony, copper and zinc at the Bayhorse silver mine are all recognized as critical and strategic minerals in the United States.

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 one or more underlying shallow plutons that may host porphyry copper mineralization similar to what Hercules Metals has reported 40 kilometres north of the Bayhorse silver mine.

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 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, a highly prospective porphyry copper prospect, 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 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.

We seek Safe Harbor.