Mr. Graeme O'Neill reports

BAYHORSE SILVER INC. ANNOUNCES INVESTOR RELATIONS AGREEMENT AND GRANT OF STOCK OPTIONS

Bayhorse Silver Inc. has entered into a marketing and investor relations agreement dated March 26, 2026, with M & M Consult UG (haftungsbeschrankt), a Germany-based firm, to provide investor awareness and marketing services in Europe.

Under the terms of the agreement, MMC will assist the company in increasing visibility among German-speaking investors through on-line platforms, advertising placements and media distribution. Services include promotional exposure on mining-focused websites, digital advertising campaigns and dissemination of corporate communications.

The agreement has an initial term of six months commencing April 1, 2026, and may be extended by mutual agreement for another six months. Cash compensation is 2,100 euros per month, payable quarterly commencing on April 1, 2026, for the initial term. If the agreement is extended, compensation for the second six months will be 1,500 euros per month for a 12-month aggregate of 21,600 euros.

The company further announces that it has granted a total of 400,000 stock options to various officers, directors and consultants, pursuant to its stock option plan of which 100,000 options are being issued in connection with the MMC engagement. Those 100,000 options being issued are subject to vesting provisions over a 12-month period in accordance with TSX Venture Exchange policy.

All other 300,000 options granted vest immediately.

The options are exercisable at 10 cents per share for a period of five years from the date of grant.

The company confirms that MMC and its principal are arm's length to the company and will not provide investor relations services in Canada. MMC does not hold any securities in the company other than the 100,000 options being issued in connection with the MMC engagement.

The engagement of MMC and the grant of the related 100,000 stock options are subject to the terms of the company's stock option plan and the approval of the TSX Venture Exchange.

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 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.

We seek Safe Harbor.