Bayhorse Commissioning Silver Milling and Concentrate Circuit at the Bayhorse Silver MINE; Closes First Tranche of Private Placement
September 30, 2019 BHS2019-27
BAYHORSE COMMISSIONING SILVER MILLING AND CONCENTRATE CIRCUIT AT
THE BAYHORSE SILVER MINE; CLOSES FIRST TRANCHE OF PRIVATE
PLACEMENT
Bayhorse Silver Inc. BHS: TSX-V (the “ Company” or “ Bayhorse”) is commissioning the upgraded
silver concentrate circuit at the Bayhorse Silver Mine, Oregon, USA. M illing circuit capacity has
been upgraded to process 200 tons per day.
The milling circuit processes the pre-concentrate product from the X Ray Transmissive Ore-Sorter,
that reduces the as-mined tonnage by 70%. It consists of a crushing circuit, a regrind circuit, a
gravity circuit and a frothing circuit.
Current modifications will provide the Company additional options in th e production of silver
concentrates, and permit tailoring the silver concentrate into two st reams, a higher value
silver/copper concentrate, and a lower value zinc/antimony/lead concentrate.
Following commissioning this week the circuit will be fully operational producing a minus 100 mesh
silver concentrate.
Bayhorse CEO Graeme O’Neill comments, “bringing the upgraded circuit online will allow for a
very consistent concentrate, and the ability to create two mineral streams that will lessen the penalties
levied for the lower value minerals in the refining stream for the production of pure silver”.
The Company is not basing any decision to produ ce on a feasibility study of mineral reserves
demonstrating economic and technical viability, and also advises ther e is an increased uncertainty
and specific economic and technical risk of failure with any production decision. These risks include,
but are not limited to, a drop in price of commoditi es produced, namely silver, copper, lead and zinc,
from the pricing used to make a production decision. Failure of grades of the produced material to
fall within the parameters used to make the production decision and increase in mining costs due to
changes within the mine during development and mining procedures. There are also metallurgical
recovery changes that cannot be anticipated at the time of production.
The Company has closed, subject to the approval of the TSX Venture Exchange, a first tranche of
1,555,000 units of the previously announced $0. 125 non-flow through private placement for gross
proceeds of $194,375. The units issued under the pl acement are subject to a four month hold period
until January 28, 2020.
Each non-flow through unit consists of one co mmon share and one tran sferable common share
purchase warrant exercisable into one common share of the Company at an exercise price of $0.25
for a period of twenty-four months from the date of issuance.
In addition to any other exemption available to th e Company, participation in the private placement
is also open to all existing shareholders, even if not accredited investor s, under the "existing
shareholder" exemption of National Instrument 45-106 as promulgated in Multilateral CSA notice
45-313 in participating jurisdictions.
Proceeds are to advance the Bayhorse Silver Mine and for general corporate purposes.
Bayhorse CEO, Graeme O’Neill has subscribed for 640,000 units of the privat e placement, and has
sold both privately, and through the facilities of the TSX Venture Exchange 700,000 common shares
of the Company to facilitate his subscription.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors,
which accepts full responsibility for its contents. Dr. Stewart Jackson, P.Geo., AQualified Person and
Consultant to the Company has prepared, supervised the preparation of, and approved the technical
content of this press release.
On Behalf of the Board.
Graeme O'Neill, CEO
604-684-3394
Bayhorse Silver Inc., a junior exploration comp any, has earned 100% interest in the historic
Bayhorse Silver Mine Oregon, USA. and has op tioned the Brandywine, precious metals rich,
volcanogenic massive sulphide property located in B.C., Canada. The Company has an experienced
management and technical team with extensive exploration and mining expertise.
Neither the TSX Venture Exchange nor its Regulation Se rvices Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.