Bayhorse Silver Increases Underground Drill Progra m To Include Targeting Additional Conceptual Exploration Areas At The Bayhorse Silver Mine
April 2, 2026 BHS2026-08
Bayhorse Silver Increases Underground Drill Progra m To Include Targeting Additional
Conceptual Exploration Areas At The Bayhorse Silver Mine
Bayhorse Silver Inc, (BHS: TSX -V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company”
or “Bayhorse”) has increased its planned underground diamond drill program at the Bayhorse Silver
Mine to up to 20 diamond drill holes, with a first stage program for a minimum 2,300 m (7,545 ft) to
include drilling the conceptual exploration areas as disclosed in the Company’s NI -43-101 Technical
Report of Inferred Mineral Resource Estimate of 292,300 tons at a grade of 21.65 opt (673 g/t) for 6.3
million ounces of silver (Turner et al. 2018) . This conceptual exploration area has now been better
defined by the Company’s recent IP program with IP anomalies CR-1, CR-2 and MW-2 planned in a
first stage drilling program and a planned second stage drill program targeting IP anomalies CR-3
andMR-1 and MR-2 that lie east of and below the inferred resource area (see news release BHS2025-
5) as outlined in Figures 1-4 below.
While it is uncertain if further exploration will result in the definition of additional mineral resources,
our increased drilling objective is to provide additional data to further refine our understanding of the
extent, structure and mineralization of the Bayhorse silver endowment and to potentially increase the
known inferred resource.
Bayhorse CEO Graeme O’Neill, comment s, “The authors of the 2018 Technical Report , have
classified material in an expanded model that is outside of the above inferred mineral resource model
as a conceptual exploration target. The IP targets identified for the above drill program extend beyond
the area of our NI 43-101 Inferred Mineral Resource Estimate (above) into the conceptual exploration
targets and is intended to determine whether inferred ounces can be increased and/or whether inferred
ounces can be brought to an indicated or better category. Our additional analysis of the IP results
indicates the strong possibility of silver , copper and antimony critical minerals bearing material
extending beyond the existing inferred resource boundary, vertically above and below the current mine
workings of over 300 m (1,000 feet), and extending on strike both east and west.”
Figure 1 Drill targets CR-1, on Bayhorse underground workings
Target CR-1 lies within, and extends beyond the area of the NI 43-101 and, to be confirmed by drilling,
has an apparent vertical extent of up to 300 m (984 ft) and a NW to SE strike of +/-600ft. Five diamond
drill holes of up to 730 m (2,396 ft) are planned for CR-1.
Figure 2, Drill targets CR-2, from Bayhorse underground workings
Target CR-2 (Figure 2) lies +/- 400 ft to the south of CR-1 and has a circular footprint approximately
250 ft in diameter and a vertical extent of +/- 200 m (660 ft) and is readily accessible from the existing
main underground haulage way. Six diamond drill holes totaling 1,149 m (3,770 ft) are planned for
CR-2.
Figure 3, Drill targets MW-2, from Bayhorse underground workings
Target MW-2 (Figure 3) lies +/ - 280 ft to the east of CR-1 and while it has a smaller footprint of
approximately 30 m (98 ft) in diameter and a down dip extent of +/- 45 m (147 ft) the groundwater test
well MW-2 intersected 1.5 m (5 ft) grading an average of 1,104 g/t (35.46 opt) silver and 1.5 m (5 ft)
averaging 770 g/t (23.12 opt) silver as disclosed in the Company’s news release BHS2025-16. Three
diamond drill holes totaling 420 m (1,379 ft) are planned for MW-2.
Drill target CR-3 (Figure 4) that will be drilled in a planned 2nd stage drill program, lies +/- 243 m
(800 ft) north-west of the western end of the rehabilitated main haulage way and at the western edge
of the CR-2 drill targets. Five drill holes are planned from the west drill station totalling 1909 m (6,264
ft).
Figure 4. Drill targets CR-3 from Bayhorse underground workings
Drill targets MR-1 and MR-2, shown in figure 4 above, will also be targeted in a second stage drill
program and will consist of five holes with a +/- 1,359 m (4,459 ft).
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which
accepts full responsibility for its content. Mark Abrams, AIPG, a Qualified Person and Director of the
Company has prepared, supervised the preparation of, or approved the technical content of this news
release.
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 a National Instrument 43- 101 inferred mineral
resource of 292,300 tons at a grade of 21.65 opt (673 g/t) for 6.3 million ounces of silver. (Turner et
al. 2018) and the Pegasus Project, in Washington County, Idaho. The Bayhorse Silver Mine and the
Pegasus Porphyry Copper Project are 44 km southwest of Hercules Metals’ porphyry copper discovery.
The Bayhorse Mine is a minimum environmental impact facility capable of processing at a mining rate
up 200 tons/day that includes a state of the art 40 ton per hour Steinert Ore -Sorter that reduces waste
rock entering the processing stream by up to 85%. The Company has esta blished an up to 60 ton/day
mill and standard flotation processing facility in nearby Payette County, Idaho, USA with an offtake
agreement in place with Ocean Partners UK Limited. The Company has an experienced management
and technical team with extensive mining expertise in both exploration and building mines.
FORWARD LOOKING STATEMENTS:
This news release includes certain statements that may be deemed “forward- looking statements”. All
statements in this news release, other than statements of historical facts, that address events or
developments that the Company expects to occur, are forwar d-looking statements. Forward-looking
statements are statements that are not historical facts and are generally, but not always, identified by
the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”,
“potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or
“should” occur. Although the Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not guar antees of future
performance and actual results may differ materially from those in the forward-looking statements. In
particular, these forward- looking statements are based on assumptions regarding: (i) stability in
precious metals markets and silver pric es; (ii) no further significant macroeconomic shocks or
disruptions; (iii) continued market liquidity and investor access to capital; (iv) recovery of investor
sentiment in the junior mining sector; and (v) timely receipt of required regulatory approvals. Factors
that could cause the actual results to differ materially from those in forward -looking statements
include: fluctuations in metal and commodity prices; continued availability of equity capital and
financing; extreme market volatility and changes in investor sentiment; general economic, market, and
business conditions; macroeconomic shocks and trade policy uncertainty; market liquidity constraints;
timing and receipt of regulatory approvals (including from the TSX Venture Exchange); and risk that
market recovery timing may differ materially from management expectations. Readers are cautioned
not to place undue reliance on forward- looking statements. For a complete discussion of risk factors
affecting the Company, please refer to the "Risks and Uncertainties" section of the Company's most
recent Management's Discussion and Analysis available on SEDAR+ at www.sedarplus.ca. Investors
are cautioned that any forward- looking statements are not guarantees of future performance and
actual results or developments may differ materially from those projected in the forward- looking
statements. Forward- looking statements are based on the beliefs, estimates and opinions of the
Company’s manageme nt on the date the stat ements are made. Except as required by applicable
securities laws, the Company undertakes no obligation to update these forward-looking statements in
the event that management's beliefs, estimates or opinions, or other factors, should change.
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.