Mr. Graeme O'Neill reports

BAYHORSE CLOSES NON-BROKERED PRIVATE PLACEMENT TRANCHES

Subject to the approval of the TSX Venture Exchange, Bayhorse Silver Inc. has closed a first tranche of its previously announced non-brokered private placement, consisting of 1.3 million flow-through units at 12.5 cents per unit, for gross proceeds of $162,500, and 800,000 non-flow-through units at 12.5 cents for gross proceeds of $100,000.

Proceeds are to advance the company's Brandywine project, in British Columbia, Canada, and the Bayhorse silver mine, in Oregon, United States, and for general and corporate purposes.

Bayhorse chief executive officer Graeme O'Neill has subscribed for 1.2 million flow-through units and 800,000 non-flow-through units for gross proceeds to the company of $250,000. He has financed his subscriptions through the sale, both privately and through the facilities of the TSX Venture Exchange, of 2.5 million common shares of the company. Bayhorse chief financial officer Rick Low has subscribed for 100,000 flow-through shares for gross proceeds to the company of $12,500.

In addition to any other exemption available to the company, participation in the non-brokered private placement is also open to all existing shareholders, even if not accredited investors, under the existing shareholder exemption of National Instrument 45-106 as promulgated in Multilateral CSA Notice 45-313 in participating jurisdictions.

The company has, subject to exchange approval, extended the expiry dates of 1,524,500 warrants expiring Dec. 27, 2019, 2,231,500 warrants expiring Jan. 18, 2020, and 3,768,500 warrants expiring March 2, 2020, to March 2, 2021. The warrants are exercisable into common shares of the company at 30 cents per share.

About Bayhorse Silver Inc.

Bayhorse Silver is an exploration and production company with a 100-per-cent interest in the historical Bayhorse silver mine, located in Oregon, United States, and has optioned the Brandywine precious-metal-rich, volcanogenic massive sulphide property, located in British Columbia, Canada. The company has an experienced management and technical team with extensive mining expertise surrounding exploration and building mines.