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December 9, 2025. BHS2025-33

Bayhorse Silver Inc. Corrects Previously Announced Warrant Extensions

Bayhorse Silver Inc, (BHS: TSX-V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the "Company" or "Bayhorse") announces that, subject to the approval of the TSX Venture Exchange, it is correcting its December 3, 2025 news release with respect to the exercise price of the 3,500,000 warrants from $0.10 to $0.15. The Company announces that, subject to the approval of the TSX Venture Exchange, the Company has extended the expiry date of the following warrants (all other terms remain unchanged):

Existing expiry date of 13,167,500 warrants: December 20, 2025.

New expiry date of 13,167,500 warrants: December 20, 2028.

Exercise price of warrants: $0.10 cents.

Existing expiry date of 3,500,000 warrants: December 23, 2025.

New expiry date of 3,500,000 warrants: December 23, 2026.

Exercise price of warrants: $0.15 cents.

Existing expiry date of 8,310,000 warrants: January 18, 2026.

New expiry date of 8,310,000 warrants: January 18, 2029.

Exercise price of warrants: $0.10 cents.

This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its content.

On Behalf of the Board.

Graeme O'Neill, CEO

866-399-6539

About Bayhorse Silver Inc.

Bayhorse Silver Inc. is an exploration and production company with a 100% interest in the historic Bayhorse Silver Mine located in Oregon, USA with a National Instrument 43-101 inferred resource of 292,300 tons at a grade of 21.65 opt (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/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%. The Company has established an up to 60 ton/day mill and standard flotation processing facility in nearby Payette County, Idaho, USA with an offtake agreement in place with Ocean Partners UK Limited. The Company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.