Bayhorse Silver Corporate Update, Agm Date, & Financing
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July 18, 2022. BHS2022-13
BAYHORSE SILVER CORPORATE UPDATE, AGM DATE, & FINANCING
Bayhorse Silver Inc, (BHS: TSX-V , BHSIF: OTCQB, 7KXN: FRANKFURT ) (the “Company”
or “Bayhorse”) provides a Corporate Update on the Company’s activities.
The Company has received gold and silver assays of samples take n from three Idaho gold claims it is
acquiring as part of plans to provide additional gold/silver feed to the Bayhorse Mill.
The claims are on a large gold bearing structure, that extend north from, and are in close proximity to,
Integra’s Delamar Gold Project i n Southwest Idaho, 120 km (75 m iles) from the Bayhorse Mill. The
significant gold mineralization in Southwestern Idaho is consid ered the northern extension of the
Carlin Gold Trend.
The arseno-pyrite chip samples were taken from exposed outcrop on the structure that extends over 3
km (1.9 miles) on strike. The samples were fire assayed and ret urned 33.28 g/t (1.068 oz/t) gold and
96.42 g/t (3.1 oz/t) silver and 4.98 g/t (0.16 oz/t) gold and 1 38 g/t (4.45 oz/t) silver. These grades
compare favorably to prior sampl es taken from claims on trend b y the Company that returned 37.69
g/t (1.202 opt) gold, 40.31 g/t (1.296 opt) gold and 0.62 g/t ( 0.02 oz/t) gold. Under the small miner
exemptions, a surface bulk sampling program on the between 10 – 20 ft wide structure is planned. Any
bulk material sampled from the claims will be processed at the Company’s Bayhorse Mill in Payette,
Oregon.
The Company advises that chip samples are considered select sam ples and are not indicative of, or
representative of, mined grades.
The Bayhorse Mill is capable of f loating silver and gold from r un of mine mill feed to produce
concentrate. The Company has been in discussions with various independent operators to process
their, mainly gold production, at the Bayhorse Mill. The Compan y intends to seek JV’s with some of
these independent operators and will increase the Mill capacity as required.
Currently, Bayhorse silver run of mine mill feed, concentrate a nd flotation tails are undergoing leach
testing at SGS Australia using the advanced leaching techniques developed by Clean Earth
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Technologies of Singapore, in conjunction with CSIRO, Australia. If leachab ility recovery exceeds
flotation recovery, the Company will then assess whether it can go from Mine, to Mill, and directly to
Silver Metal production at its Payette Mill. The leaching test results are expected mid-August, 2022.
Bayhorse CEO, Graeme O’Neill comments, “Silver has dropped dramatically, over 30% in the last 90
days, and while gold has dropped significantly also, it has only seen a 15% drop in prices, leaving the
Gold/Silver Ratio back at a very high 92:1.” “While currently, gold and silver prices are under pressure,
that is being attributed to the parabolic rise in the US$, the Company believes that this is an opportune
time to add highly prospective and readily accessible and minea ble gold/silver properties that have
recently become available in close proximity to the Company’s Payette milling facility to its portfolio”.
“It has been our goal at the Bayhorse Silver Mine to be able to produce silver metal directly from the
Mine at our Milling facility. Initially, the flotation tails will be leached to ensure any positive lab results
can be replicated in the field, after which the run of mine mat erial will be subjected to leaching. The
Company has been advised that silver can be precipitated direct ly from the leachate. Successful
leaching results will permit this to become a reality. This wil l permit the Company to balance off the
significantly increased logistics costs, including transportation and container shipping costs, that many
producing companies are experiencing.”
At Brandywine, the Company has been advised that due to staffing changes, the BC Mines permitting
process suffered delays. These issues appear to have been resolved, and the drill permitting process is
now back on track. The Company has advised the diamond drill co ntractor, subject to timely
permitting, of a tentative drilling schedule, that the contractor has stated they can meet.
In the Company’s QA/QC Report of 2020, the 2010 drill core from the Dave’s Pond drilling program
was resampled and due to the presence of visible gold in the core , re-assayed using metallic screen
assay. Gold values of up to 20.2 g/t (0.65 oz/t) Au over 1.5 m core length were returned from the re-
assay of drillhole BRW10-05.
The planned diamond drill program is to comprehensively drill t he Dave’s Pond gold targets as soon
as required permits are obtained to confirm the presence of high grade visible gold as identified in the
QA/QC Report and the Brandywine NI-43-101 Report of 2021.
The Company’s Annual General Meeting date has been set to be he ld at 10AM PDT at 2751 Graham
Street Victoria BC, V8T 3Z1 on September 15, 2022.
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The Company announces that, subject to TSX-V Exchange approval, a non-brokered private placement
of up to 10,000,000 Units at $0.04 cents per Unit, for gross proceeds of $400,000.
Each $0.04 cent Unit will consist of one (1) common share and o ne (1) transferable common share
purchase warrant, with each warra nt exercisable into one (1) co mmon share of the Company at an
exercise price of $0.10 cents, exercisable for a period of 24 months from the date of issuance.
The proceeds of the financing are for the Bayhorse Silver Mine and Mill operations working capital,
for Brandywine exploration, and for general and administrative expenses.
In addition to any other exemption available to the Company, pa rticipation in the non-brokered
financing is also open to all existing 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.
Securities issued under this placement will be subject to a four month plus a day hold period from the
date of issuance.
The Company is not basing any decision to produce on a feasibil ity study of mineral reserves
demonstrating economic and techni cal viability and advises ther e is an increased uncertainty and
specific economic and technical risk of failure with any produc tion 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) failu re of grades of the produced material to
fall within the parameters 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.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which
accepts full responsibility for its content. Dr. Stewart Jackso n, P.Geo., a Qualified Person and
Consultant to the Company has prepared, supervised the preparat ion of, and approved the technical
content of this press release.
On Behalf of the Board.
Graeme O'Neill, CEO
866-399-6539, 604-684-3394
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About Bayhorse Silver Inc.
Bayhorse Silver Inc. is an exploration and production company w ith 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 min eralization per day and the ability to
process and supply 3,600 tons p er year of silver/copper concent rate ranging between 7,500 to 15,000
g/t using standard flotation pro cessing 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 res ponsibility for the adequacy or accuracy of this
release.