Mr. Graeme O'Neill reports

BAYHORSE AMENDS TERMS OF 7,500,000 UNIT NON-BROKERED PRIVATE PLACEMENT

Bayhorse Silver Inc. has amended its previously announced, non-brokered private placement for up to 7.5 million units at five cents per unit for gross proceeds of $375,000. The private placement, as originally announced, did not conform with exchange Policy 4.1.8 (b) and has been amended.

Each five-cent unit is to consist of one common share and one transferable common share purchase warrant. Each warrant is exercisable into one common share of the company at an exercise price of 10 cents, or, at the warrantholder's option, each 200 warrants are exercisable into one ounce of silver at an exercise price of 20 per ounce. The warrants are exercisable for a period of 24 months from the date of issuance. The exercise of the silver option into silver is subject to the following conditions:

• The silver option may only be exercised after the company successfully mines and processes silver from the Bayhorse property prior to the maturity date of the warrants, provided that the company, at its sole discretion, delivers written notice to each warrantholder that they shall have the right to receive payment in kind by delivery of physical ounces of silver.
• The exercise of the silver option is subject to a minimum of 5,000 warrants (25 ounces of silver).
• In addition to any other exemption available to the company, participation in the non-brokered financing 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 finances raised are for the purpose of optimizing the metallurgical work on the silver recovery from the upgrading, processing and refining of silver mineralization from the Bayhorse silver mine, Oregon, as well as general and administrative purposes.

Bayhorse chief executive officer Graeme O'Neill comments: "In these trying times with the COVID-19 virus running rampant and many businesses in either limited operations or shut down entirely, we must make the health of our miners, consultants and management our utmost priority. As a small mine in a remote location, we are fortunate we can minimize social contact in our operations and, subject to the financing completion, get back to work quickly."

He also comments: "The market dislocation has gold and silver prices in flux with almost 25 per cent of annual world silver production reportedly already shut down in Chile, Peru and Argentina. With gold refineries offline and the logistics chain for moving silver and gold to mints in disarray, I believe it will be a while getting back to normal. As a small silver mining operation, we are more flexible and, with nearly 400 tons of presorted silver mineralization ready for final processing into silver concentrate, we should be able to get that concentrate ready for shipment in a short period of time once we can resume operations."

Finder fees may be payable on a portion of the financing not taken down by insiders according to the policies of the TSX-V.

Securities issued under this placement will be subject to a four-month-and-one-day hold period from the date of issuance.

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 and an option on the Brandywine precious metals rich, volcanogenic massive sulphide property located in British Columbia.