Mr. Graeme O'Neill reports

BAYHORSE SILVER ANNOUNCES EXTENSION OF WARRANT EXPIRY DATE AND GRANT OF STOCK OPTIONS

Subject to the approval of the TSX Venture Exchange, Bayhorse Silver Inc. has extended the expiry date of the following warrants (all other terms remain unchanged):

• Existing expiry date of 13,167,500 warrants: Dec. 20, 2025:
  • New expiry date of 13,167,500 warrants: Dec. 20, 2028;
  • Exercise price of warrants: 10 cents;
• Existing expiry date of 3.5 million warrants: Dec. 23, 2025:
  • New expiry date of 3.5 million warrants: Dec. 23, 2026;
  • Exercise price of warrants: 10 cents;
• Existing expiry date of 8.31 million warrants: Jan. 18, 2026:
  • New expiry date of 8.31 million warrants: Jan. 18, 2029;
  • Exercise price of warrants: 10 cents.

The company announces a grant of 3.2 million incentive stock options to directors, employees and consultants. The options vest on the date of grant and are exercisable at 10 cents per share for five years from the date of grant.

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, United States, 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, 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 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.