BAYHORSE SILVER Announces Offtake Purchase Offer.
December 1, 2020 BHS2020-29
BAYHORSE SILVER Announces Offtake Purchase Offer.
Bayhorse Silver Inc. (BHS: TSX-V) (the “Company” or “Bayhorse”) is pleased to announce that it
has accepted a firm offtake purchase offer (“PO”) for the sale of silver concentrate from its Bayhorse
Silver Mine in Oregon, USA.
The PO is with a leading international metals trading company (“MTC”) for the delivery and sale of
300 metric tons or 15 full container loads of silver concentrate that will be produced from the
Company’s Bayhorse Silver Mine. Among other conditions, the MTC will have the right of first refusal
to a 12 month contract extension after completion of the delivery of the first 300 metr ic tons of silver
concentrate.
“This offtake supply PO is a milestone achievement for the Company and demonstrates confidence in
the Company’s ability to transition from development to commercial operations ,” states Graeme
O’Neill, CEO of Bayhorse . “The Company looks forward to achieving its production targets and
congratulates our team for this achievement.”
The Company is currently working with MTC to expedite a definitive offtake agreement, further
detailing our commercial relationship.
The Company is not basing any decision to produce on a feasibility study of mineral reserves
demonstrating economic and technical viability and advises there is an increased uncertainty
and specific economic and technical risk of failure with any production decision. These risks
include, but are not limited to, (i) a drop in price of commodities produced, namely silver, copper,
lead and zinc, from the pricing used to make a production decision; (ii) failure of grades of the
produced material to fall within the parame ters used to make the production decision; (iii) an
increase in mining costs due to changes within the mine during development and mining
procedures; and (iv) metallurgical recovery changes that cannot be anticipated at the time of
production.
The Company announces the grant of 250,000 options to Officers, Directors, Consultants and
Employees that vest immediately and are exercisable for five years at $0.20 cents per share.
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
1-866-399-6539
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.
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, an option to acquire an 80% interest on the
Brandywine, precious metals rich, volcanogenic massive sulphide property, and is earning a 50%
interest in the Harrison Gold Project, located in B.C., Canada. The Company has an experienced
management and technical team with extensive mining expertise surrounding exploration and building
mines.