Bayhorse Silver Closes Private Placement

December 10, 2024. BHS2024-28

Bayhorse Silver Closes Private Placement

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

or “Bayhorse”) announces that, subject to the approval of the TSX Venture Exchange, it has closed

its oversubscribed non-brokered private placement that was announced on October 30, 2024 and the

Company will issue 5,250,000 units for gross proceeds of $210,000.

Each Unit will consist of one common share, and one transferable common share purchase warrant.

Each warrant will be exercisable into one common share of the Company at a price of C$0.08 cents

per common share for a period of 24 months from the date of issuance.

The funds received are to conduct the planned underground drilling program (70%) at the Bayhorse

Silver Mine to test for the presence of a porphyry copper deposit, as announced in the Company’s news

release BHS2024-19, to further advance the mine permitting (10%) and general and administrative

expenses (20%). None of the private placement proceeds will be paid to non- arm’s length parties or

persons conducting investor relations activities.

Subject to the approval of the TSX Venture Exchange, the Company will pay cash finder’s fees of

$11,900 and issue 297,500 finder’s warrants, which are exercisable into one common share of the

Company at a price of $0.08 cents per common share for a period of 24 months from the date of

issuance.

Securities issued under this private placement are subject to a hold period expiring on April 11, 2025.

Bayhorse Silver CFO, Rick Low, has subscribed for 250,000 units (5%) of the private placement. This

participation by Bayhorse’s CFO constitutes a “related party transaction” as defined under Multilateral

Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61 -101”).

Such participation is exempt from the formal valuation and minority shareholder approval

requirements of MI 61-101 as neither the fair market value of the units acquired by the insider, nor the

consideration for the units paid by such insider, exceed 25% of the Company’s market capitalization.

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

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 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 includes a state of the art Steinert Ore -Sorting technology

reducing waste rock entering the processing stream by up to 85% . The Company has created a

minimum environmental impact facility capable of mining 200 tons of mineralization per day and the

ability 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.