BAYHORSE SILVER ANNOUNCES INITIAL 2026 WORK PROGRAM OBJECTIVES Bayhorse Silver Inc, (BHS: TSX -V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company” or “Bayhorse”) announces the Company work program for the first half of 2026 consisting of:
January 7, 2026 BHS2026-02
BAYHORSE SILVER ANNOUNCES INITIAL 2026 WORK PROGRAM OBJECTIVES
Bayhorse Silver Inc, (BHS: TSX -V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company”
or “Bayhorse”) announces the Company work program for the first half of 2026 consisting of:
• Completing the final Bayhorse Mine groundwater baseline study for the Full Mine Operating
Permit application
• Conduct the approved, underground 25 ton “run of mine” metallurgical bulk sample
• Conduct a 500 meter (1640 ft) surface diamond drill program on the four identified mineralized
shallow IP targets under the Mine access road, east and extending north of NI 43-101 inferred
resource area containing a calculated 292,300 ton at a 21.65 opt (742.2 g/t) for 6.3284 million
ounces of silver (Turner et al, 2018).
• Complete milling and floating the existing “sorted and upgraded” mine development material
at its Payette, Idaho, flotation mill
• Conduct a full antimony leach pilot program on the current flotation concentrate and
concentrate to be produced from the metallurgical bulk sample , selling the resultant
antimony/gold leachate and the silver/copper/zinc balance.
• Subject to the results of the extended IP survey over the western portion of the Bayhorse Mine
claims, conduct an up to approximately 1,000 meter (3,280 ft) underground drill program.
• Subject to the results of the underground bulk sample, the planned surface drilling, and
underground drilling, upgrade the current NI -43-101 inferred silver resource and include
antimony, copper and zinc values, as with the 99.9% antimony leach results (BHS2025-32)
Bayhorse CEO Graeme O’Neill, who will be attending the January 2026 Vancouver Resource
Investment Conference and the Cordilleran Roundup immediately after, comments, “the recent
strong prices in silver and gold have significantly increased investor interest in the entire junior
resource sector. and as more funding has become available to the Company, which lately has
received in excess of $650,000 from the exercise of warrants and options, that that allows us to move
our 2026 work programs forward more quickly.”
The first part, commencing immediately, will be completing the groundwater baseline study to
complete the Company’s Full Operating Permit Application for re-commencing its planned up to 200
ton/day underground mining operations at its Bayhorse Silver Mine. Completion of this study requires
installing the groundwater testing pumps and conducting two independent groundwater tests , with
samples to be submitted to Pace Environmental Labs for geochemical analysis, and filing a subsequent
baseline study report.
The second part of the program is conducting a limited bulk sample from three locations in the
underground workings, to provide a n approved 25 ton typical “run of mine” metallurgical mineral
sample for processing. This sample will be geochemically sampled for assay, first, when taken from
the mine. Next, after crushing to 25 mm (1 inch) minus in size, it will be screened into two portions ,
plus 8 mm and minus 8 mm. Each portion will be resampled and assayed for mineral content. The two
portions will then be shipped to the Company’s permitted flotation mill located at Payette, Idaho, where
the plus 8 mm will be passed through the Company’s 40 ton/ hour Steinert Ore-Sorter, that will sort
into two fractions, the Sorter Select, and the Sorter Reject.
Each fraction will then be sampled for geochemical analysis. The Sorter Select will provide a definitive
upgrade from the run of mine material that according to the Company’s NI-43-101 Inferred Resource,
should grade an average 21.65 opt (673 g/t) silver. Milling and floating the Sorter S elect into a “float
concentrate” should provide a confirmed float recovery, and float reject value, while the Sorter Reject
will provide a definitive analysis for mine permitting purposes of the reject grade, and acid rock
drainage (“ARD”) value thus confirming its suitability for either underground or above ground storage,
or its salability as construction gravel. This analysis will also confirm, prior unreported testing that has
indicated the “Sorter R ejects have an acid/base analysis ( “ABA”) of 29 ”, indicating Sorter R eject
material is not acid generating.
The third part of the program is to conduct a minimum five surface drillholes to test four identified IP
targets. These targets lie under the Mine access road and extend from 73 meters (240 ft) east of and up
130 m (426 ft) north of the NI 43-101 inferred resource area. The holes will be drilled each to a depth
of 81 meters (265 ft). One of these targets was inter sected by groundwater test well MW2, at a depth
of between 22 meters and 33.5 meters (72 -110 ft) from surface with a 3 m eter (10 ft) intersection of
1.5 meters (5 ft) grading an average of 1104 g/t (35.46 opt) silver and 1.5 meters (5 ft) averaging 770
g/t (23.12 opt) (BHS2025-12). This intersection lies at an elevation of 667 meters (2190 ft) above sea
level (“ASL”) and 91 m eters ( 300 ft) NE and 60 m eters (200 ft ) lower than the historic , mined,
Sunshine Stope at an elevation of 728 meters (2390 ft) ASL.
The fourth and fifth part of the program will consist of (i) milling and floating the balance of the
already “Ore-sorted” pre-concentrate mine development mineralization at the Company’s mill ; (ii)
milling the “sorted” bulk sample pre -concentrate, to add to the existing float concentrate ; and (iii)
conduct a bulk “antimony leach” test, to confirm the 99.9% antimony leaching from the tetrahedrite
float concentrate (BHS2025-32). The intent is to confirm, under independent analysis, the Company’s
prior assessment of the already floated concentrate from the development material that the range for
antimony and copper is from 8 to 14%, and up to 18% zinc.
The Company anticipates conducting and completing the majority of the above objectives during the
first half of 2026.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which
accepts full responsibility for its content. Mark Abrams, AIPG, a Qualified Person and Director of the
Company has prepared, supervised the preparation of, or approved the technical content of this news
release.
On Behalf of the Board.
Graeme O'Neill, CEO
866-399-6539, 604-684-3394
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, 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 exper ienced 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.