Bayhorse Announces Private Placement

July 10, 2023 BHS2023-05

BAYHORSE ANNOUNCES PRIVATE PLACEMENT

Bayhorse Silver Inc, (BHS: TSX -V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company”

or “Bayhorse”) Announces a non-brokered private placement for 5 million units at $0.02 cents per

unit for gross proceeds of $100,000.

Each unit will consist of one common share, and one transferrable common share purchase warrant ,

each warrant exercisable into one common share of the Company at a price of $0.05 cents per common

share for a period of 15months.

The funds received are to complete the deficien cies on the Company’s Full Operating Permit

application for the Bayhorse Silver Mine, and to complete the reclamation of the Flagstaff property.

Subject to receipt of funds, t he Company believes the outstanding reclamation work will take

approximately one week to complete, whereupon the US$140,000 cash reclamation bond held by the

US BLM can be returned to the Company.

The remaining work to be completed for the Bayhorse Mine Full Operating Permit submissions, are a

noise baseline study, completion of surface water sampling analysis, results of which are pending, and

ground water analysis testing.

Bayhorse CEO, Graeme O’Neill , reports recent analysis of the silver market conditions from Sprott

Money, where the report states “Physical Silver is at an all time high, while Comex Silver is at an 11

year low ”. The Silver Institute reports that 2022 demand for silver outpaced supply in 2022 by

240,000,000 ounces and a report on the recent Mining regulation changes in Mexico, may also

negatively affect the rate of its silver production.. The reports indicate there appears to be a significant

disconnect between supply and demand, and with the Silver /Gold ratio still staying stubbornly over

80:1 that may soon be positively resolved.

In addition to any other exemption available to the Company, participation in the non- brokered

financing is also open to all existing Canadian 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.

Finder fees may be payable on a portion of the financing not taken down by insiders according to the

policies of the TSX-V Exchange.

Securities issued under this placement will be subject to a four month plus a day hold period from the

date of issuance.

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, 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 state of the art Steinert Ore -Sorting technology

reducing waste rock entering the processing stream by up to 85%, we have created a minimum

environmental impact facility capable of mining 200 tons of mineralization per day and the abilit y to

process and supply 3,600 tons per year of silver/copper concentrate ranging between 7,500 to 15,000

g/t using standard flotation processing at its milling facility in nearby Payette County, Idaho, USA,

with an offtake agreement in place with Ocean Partners UK Limited. The Company also has an option

to acquire an 80% interest in the Brandywine high grade silver/gold property located in B.C. Canada.

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.

https://www.iiroc.ca/markets/trade-surveillance/surveillance-contacts/news-release-vetting-request