CEO.CA Chairman's Briefing

Vancouver, British Columbia--(Newsfile Corp. - September 26, 2022) - Bayhorse Silver Inc, (TSXV: BHS) (OTCQB: BHSIF) (FSE: 7KXN) (the "Company" or "Bayhorse") reports that the previously announced 1,302 lb metallurgical sample from the Crane Creek Gold Project, Idaho, USA, was milled to minus 1 mm (20 mesh) and was processed through the gravity concentrating circuit and separated into four (4) streams, that were sampled to give an average grade of the total 1,302 lbs.

The total contained ounces of gold in the 1302 lb sample was 0.1 oz or 3.09 g, or 0.15 oz (5.12 g) per metric ton, and are tabulated below.

The metallurgical samples were taken from the previously sampled sites as reported in the Company's news release: BHS2022-16, that returned 33.87 g/t (1.089 oz/t) gold and 136.85 (4.4 oz/t) silver ;26.4 g/t (0.849 oz/t) gold and 140 g/t (4.5 oz/t) silver; 15.3 g/t (0.493 oz/t) gold and 68.42 g/t (2.2 oz/t) silver; and 1.36 g/t (0.044) oz/t gold and 124 g/t (4.0 oz/t) silver.

The samples have also been submitted to American Analytical Lab for 36 element ICP assays.

The Company advises that the larger metallurgical samples are still considered selected samples and may not be indicative of, or representative of potential mined grades.

An application has been made to take an up to 1,000 ton bulk sample from the property, that will be processed at the Company's Mill, at Payette, Idaho.

Mineralization at Crane Creek consists of gold and silver bearing arsenopyrite. The intent of the metallurgical testing of Crane Creek mineralization is to determine the gravity, flotation and leaching characteristics of the gold-bearing arsenopyrite mineralization.

The Crane Creek claims cover a substantial 3 - 6 meter (10 - 20ft) wide gold and silver bearing structure, that extends north from, and lies in close proximity to, Integra's Delamar Gold Project in Southwest Idaho, 120 km (75 road miles) from the Bayhorse Mill. The significant gold mineralization in Southwestern Idaho is interpreted to be the northern extension of the Carlin Gold Trend.

Bayhorse CEO, Graeme O'Neill, comments, "As a Company, we have achieved significant progress in advancing the Company's agenda. With the addition of the Crane Creek Gold Project, we have added a significant gold component to add to the current silver feed to our processing facility in Payette, Idaho. We have drill permitted our Brandywine gold/silver project, where we believe a substantial historic gold resource remains to be drill proven, and we are nearing completion of the silver leaching tests being conducted by Clean Earth Technologies, of Singapore, in conjunction with CSIRO, and SGS Australia. Our ultimate goal is to establish a solid silver/gold throughput at our Idaho Mill."

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, gold, 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 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.

The Company conducted its Annual General Meeting on September 15^th, in Victoria, BC. Directors Graeme O'Neill, James Walker, John Cerenzia and Corey Klassen were each approved as Directors of the Company with over 99% approval of the votes cast for each Director. The number of Directors was set at four for the coming year. Charlton & Company were reappointed auditors, and the Company's Stock Option Plan also received over 99% approval.

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 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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138385