BAYHORSE SILVER PROVIDES AGM RESULTS AND UPDATE ON BAYHORSE SILVER MINE OPERATIONS, OREGON, USA, Bayhorse Silver Inc, (BHS: TSX -V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company” or “Bayhorse”) conducted its Annual General Meeting on Wednesday February 9 th, 2022, at
February 14, 2022 BHS2022-03
BAYHORSE SILVER PROVIDES AGM RESULTS AND UPDATE ON BAYHORSE SILVER
MINE OPERATIONS, OREGON, USA,
Bayhorse Silver Inc, (BHS: TSX -V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company”
or “Bayhorse”) conducted its Annual General Meeting on Wednesday February 9 th, 2022, at
Victoria BC.
Directors Graeme O’Neill, John Cerenzia, Corey Klassen and James Walker were overwhelmingly
re-elected as directors for the ensuing year. Shareholders also approved Charlton & Co, Chartered
Professional Accountants, as the Company’s Auditors for 2022, and subject to the approval of the
TSX Venture Exchange, the Company’s rolling stock option plan.
The Company is preparing the 2021 annual financial statements for audit and filing prior to the filing
deadline of May 2, 2022.
At the Meeting, Bayhorse Silver CEO Graeme O’Neill provided an update of progress at the
Bayhorse Silver Mine in delivering high grade material to its nearby Mill.
He commented “the old adage of “drill for structure, drift for grade” is a historically well known and
reliable method of determining actual mining grades from mineralization that has be en projected
from drill hole data. We are currently drifting for grade.”
Recent drilling directly above and to the north of the main mine haulageway, and adjacent to the
historic access to the Goldilocks mineralized zone, has identified a 3.5 meter (12 ft) intersection
averaging 24.65 oz/t (766 g/t) silver that is located 3 meters (10 feet) east of a historic 24.5 meter
(80 ft) raise. (BHS2021-19)
This mineralization rises at a 45 – 50 degree angle to the north and is between 2.5 – 3.0 meters (6 – 8
ft) thick.
This intersection confirms the high grade mineralization in the Goldilocks zone reported in 1984
when the mine was shut down due to low silver prices (<$5.00/oz). This intersection appears to
demonstrate a solid zone of mineable, high grade mineralization (each square on the above
illustration is 5 meters (16.5 ft) that is open to the north, east, and west. This zone will provide
immediate high grade mill feed.
Assays of material from the top of the raise reached as high as 100 oz/t silver in mined rounds
(approx 70 tons/round)
The Company has begun rehabilitating the historic 24.5 meter (80 foot) raise deep inside the mine,
where Silver King Mines (1984) reported mining grades of up to 100 oz of silver. Additionally 14
meters (46 feet) up on the south wall of the raise and for a further 10.5 meters (34.5 feet) to the top of
the raise, high grade mineralization is present at the back (top) of the raise, indicating that the
mineralized zone extends higher in elevation.
The silver and copper -enriched pre -processed mineralized material from the Company’s Steinert
Ore-Sorter, from the Bayhorse Silver Mine, in nearby Oregon, is now being processed into a highly
enriched flotation concentrate at the Company’s Idaho milling facility. The silver and copper -rich
end product concentrate will enable the Company to fulfill t he Silver Offtake Agreement with Ocean
Partners UK Limited (“Ocean”) for delivery of the first 300 tonnes of silver concentrate.
Both the Mine and Mill are designed to have a minimal environmental footprint through the use of
Ore-Sorting and material recycling.
The operation has added an additional grinding mill, providing a grind and regrind capacity to ensure
an optimal 80 micron grind size. This specification was developed during testing during 2017- 2020
at Metsolve Metallurgical Laboratories of Langley, BC, Canada, in order to achieve maximum
recovery of mineralization.
In addition, the Company has added three stages of dewatering and fines recovery, as well as a
precipitation circuit to enable the tailings to be recycled into marketable industrial eco- blocks, and to
reduce dissolved contaminants to comply with the minimum requirements of the Idaho DEQ for
waste water disposal.
Bayhorse CEO Graeme O’Neill further comments “The data we have been developing at the
Bayhorse Mine, especially the recent confirmation of the extent of the Goldilocks mineralized zone,
gives us confidence that further exploration drilling will enhance the extent of the known
mineralization.”
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 parameters used to make the production decisi on; (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 th e Bayhorse Silver Inc. Board of Directors,
which accepts full responsibility for its content. Dr. Stewart Jackson, P.Geo., a Qualified Person and
Consultant to the Company has prepared, supervised the preparation 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
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 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 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 Partner s 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.