Vancouver, British Columbia--(Newsfile Corp. - March 11, 2026) - Bayhorse Silver Inc, (TSXV: BHS) (OTCQB: BHSIF) (FSE: 7KXN) (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

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

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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

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

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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 showing more detailed locations, elevations, distances and orientation 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.

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 forward-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 guarantees 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 prices; (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 management 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.

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