Bayhorse Silver Mobilizes Diamond Drill To The Bayhorse Silver Mine For A Minimum 2,000 Meter Underground Drill Program Bayhorse Silver Inc, (BHS: TSX -V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company” or “Bayhorse”) has purchased, and mobilized, a diamond drill rig with a 2,500 ft depth capability t

March 11, 2026 BHS2026-07

Bayhorse Silver Mobilizes Diamond Drill To The Bayhorse Silver Mine For A Minimum 2,000

Meter Underground Drill Program

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

or “Bayhorse”) has purchased, and mobilized, a diamond drill rig with a 2,500 ft depth capability to

its Bayhorse Silver Mine to commence up to 10 diamond drill holes, 2,000 m (6,600 ft) underground

drill program targeting IP anomalies CR-1, CR-2 and CR-3 (see news release BHS2026-03) and two

IP targets (MR-1 and Deep-1) that lie east of and below the inferred resource area (see news release

BHS2025-5) as outlined in Figure1.

Figure 1, Drill targets CR-1, CR -2, CR-3, WM -2, MR -1 and Deep -1 on Bayhorse underground

workings

Figure 2, IP low resistivity targets with drill directions and pad locations in the underground workings

Bayhorse CEO Graeme O’Neill, comments, “We are very pleased that the additional analysis of the IP

indicates the strong possibility of silver bearing mineralized material with vertical extent both above

and below the current mine workings over 300 m (1,000 feet) and extending both east and west of the

inferred resource boundary. Our increased drilling objective is to further refine our understanding of

the extent, structure and mineralization of the Bayhorse silver endowment and to potentially increase

the known resource. The targets identified extend beyond the area of our National Instrument 43 -101

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) (Figure 2) with the drill program intended to determine whether inferred

ounces can be increased and whether inferred ounces can be brought to an indicated or better category.”

Figure 3. Inferred resource area (cyan) that includes historic high graded mined area and showing

DD2024-01 that intersected 700 ft of brecciation

Figure 4. Vertical extend of IP targets and distance from inferred resource zone (MR-1 not shown)

While the upper portion of CR -1 coincides with the historic and current underground mine workings

including the Big Dog and Goldilocks mineralized zones that will be initially targeted for mining

operations upon receipt of the Operating Permit, the analysis shows the low-resistivity features extend

at least 97 m (320 ft ) above the current mine workings at the main portal level and extending down to

200 m (656 ft) below the main portal as shown in Figure 4, above.

CR-2 lies approximately 200 m (656 ft) southeast of CR-1 and is lesser in vertical extent than CR-1.

Both CR-1 and CR-2 occur beneath a shallow resistive (pink) layer (Figure 2). CR-3 is located near

the northwestern end of historic Goldilocks zone where historic drilling suggests prior operators

believed mineralization existed to the north of the known partially mined area.

This additional analysis show ing more detailed locations, elevations, distances and or ientation from

the current underground drill pad locations and workings have resulted in the Company increasing the

area for the initial underground drilling program from 1,000 m ( 3,260 ft) to 2,000 m (6,600 ft) as

previously outlined in BHS2026-02.

The IP targets identified during the March 2025 IP survey that lie under the Mine access road can be

accessed from the existing underground drill pads. One of these targets was intersected by groundwater

test well MW2 at a depth of between 22 m and 33.5 m (72 - 110 ft) from surface with a 3 m (10 ft)

intersection of 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. IP target MR-1 lies approximately 170 m (558 ft) to the northeast of the mine

workings.

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 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 established 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 Uncertai nties" 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 statements 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.