Mr. Graeme O'Neill reports

BAYHORSE SILVER MOBILIZES DRILL TO THE BAYHORSE MINE VTEM ANOMALY FOR DRILLING POTENTIAL PORPHYRY COPPER TARGET

An underground diamond drill rig has arrived at Bayhorse Silver Inc.'s Bayhorse silver mine to drill the large low-resistivity anomaly that lies beneath the company's silver/copper-rich Bayhorse silver mine in Oregon, United States. The drilling operations will commence shortly.

Bayhorse plans to drill from 241 feet (73 metres) inside from the mine portal, at an elevation that is 703 m (2,320 ft) above sea level, to the underground workings into the large low-resistivity anomaly that lies beneath the silver/copper-rich-bearing rhyolite at Bayhorse silver mine. Revised calculations indicate the anomaly has a vertical extent of 500 m (1,650 ft) from 600 m (1,980 ft) above sea level to 100 m (330 ft) above sea level and a width of up to 100 m (330 ft).

The company anticipates intersecting the top of the anomaly 150 m (495 ft) down hole with a projected termination depth of 257 m (850 ft) at the east side of the anomaly, to test for the presence of a porphyry copper deposit.

Historic geological maps show the presence of a quartz porphyry around the Bayhorse silver mine workings.

The Bayhorse exploration model holds that the silver/copper-rich mineralized rhyolite at the Bayhorse silver mine could have its source in underlying shallow granites that may be conductive porphyry copper bodies as reflected by the low-resistivity anomalies (Conway, 2024). The highest silver/copper grade identified at the Bayhorse silver mine is 15 per cent silver, 17 per cent copper (BHS2014-01) while gold values up to 10 grams per tonne have been reported from historical mining (Silver King Mines, 1984).

This exploration model is based largely on Hercules Metals' recently discovered porphyry copper deposit underlying historic silver mines in the Cuddy Mountains district about 44 kilometres northeast of Bayhorse/Pegasus. There the porphyry copper has a low-resistivity signature thus it may be inferred that porphyry copper deposits could be present at Bayhorse/Pegasus and also at the Mineral district 20 km (12 miles) to the north of the Bayhorse.

Bayhorse chief executive officer Graeme O'Neill comments: "The low-resistivity/high-conductivity anomaly that we are targeting starts 150 m (495 feet) below the portal to the Bayhorse underground workings, has a calculated depth to its bottom of between 400 and 500 metres (1,312 to 1,640 feet) and extends over one mile (1.6 km) to the north. Drill setup underground is under way, with drilling commencement targeted on completion of setup. Each of the first two holes have a targeted depth of 260 metres (850 feet)."

The company announces that, subject to the approval of the TSX Venture Exchange, the company has extended the expiry date of the following warrants (all other terms remain unchanged):

1. Original expiry date of 1.5 million warrants: Nov. 28, 2024;
2. New expiry date of 1.5 million warrants: Nov. 28, 2025.

Exercise price of warrants:  five cents

This news release has been prepared on behalf of the Bayhorse Silver board of directors, which accepts full responsibility for its content. Mark Abrams, AIPG, a qualified person, has prepared, supervised the preparation of or approved the technical content of this press release.

About Bayhorse Silver Inc.

Bayhorse is an exploration and production company with a 100-per-cent interest in the historic Bayhorse silver mine, located in Oregon, United States, and the Pegasus project, in Washington county, Idaho. The Bayhorse silver mine and the Pegasus project are 44 kilometres southwest of Hercules Metals' porphyry copper discovery. The Bayhorse mine includes a state-of-the-art Steinert ore-sorting technology reducing waste rock entering the processing stream by up to 85 per cent. The company has 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 grams per tonne using standard flotation processing at its milling facility in nearby Payette county, Idaho, United States, with an offtake agreement in place with Ocean Partners U.K. Ltd. The company also has an option to acquire an 80-per-cent interest in the Brandywine high-grade silver/gold property located in British Columbia, Canada. The company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.