Mr. Graeme O'Neill reports

BAYHORSE SILVER INCREASES UNDERGROUND DRILL PROGRAM TO INCLUDE TARGETING ADDITIONAL CONCEPTUAL EXPLORATION AREAS AT THE BAYHORSE SILVER MINE

Bayhorse Silver Inc. has increased its planned underground diamond drill program at the Bayhorse silver mine to up to 20 diamond drill holes, with a first-stage program for a minimum 2,300 metres (7,545 feet) to include drilling the conceptual exploration areas as disclosed in the company's National Instrument 43-101 technical report of inferred mineral resource estimate of 292,300 tons at a grade of 21.65 ounces per ton (673 grams per tonne) for 6.3 million ounces of silver (Turner et al., 2018). This conceptual exploration area has been better defined by the company's recent induced polarization program with IP anomalies CR-1, CR-2 and MW-2 planned in a first-stage drilling program and a planned second-stage drill program targeting IP anomalies CR-3, MR-1 and MR-2 that lie east of and below the inferred resource area.

While it is uncertain if further exploration will result in the definition of additional mineral resources, its increased drilling objective is to provide additional data to further refine its understanding of the extent, structure and mineralization of the Bayhorse silver endowment and to potentially increase the known inferred resource.

Bayhorse chief executive officer Graeme O'Neill commented: "The authors of the 2018 technical report have classified material in an expanded model that is outside of the above inferred mineral resource model as a conceptual exploration target. The IP targets identified for the above drill program extend beyond the area of our NI 43-101 inferred mineral resource estimate into the conceptual exploration targets and is intended to determine whether inferred ounces can be increased and/or whether inferred ounces can be brought to an indicated or better category. Our additional analysis of the IP results indicates the strong possibility of silver, copper and antimony critical-minerals-bearing material extending beyond the existing inferred resource boundary, vertically above and below the current mine workings of over 300 m (1,000 feet), and extending on strike both east and west."

Target CR-1 lies within, and extends beyond, the area of the NI 43-101 and, to be confirmed by drilling, has an apparent vertical extent of up to 300 m (984 ft) and a northwest to southeast strike of plus or minus 600 ft. Five diamond drill holes of up to 730 m (2,396 ft) are planned for CR-1.

Target CR-2 lies plus or minus 400 ft to the south of CR-1 and has a circular footprint approximately 250 ft in diameter and a vertical extent of plus or minus 200 m (660 ft), and is readily accessible from the existing main underground haulage way. Six diamond drill holes totalling 1,149 m (3,770 ft) are planned for CR-2.

Target MW-2 lies plus or minus 280 ft to the east of CR-1, and, while it has a smaller footprint of approximately 30 m (98 ft) in diameter and a downdip extent of plus or minus 45 m (147 ft), the groundwater test well MW-2 intersected 1.5 m (five ft) grading an average of 1,104 g/t (35.46 opt) silver and 1.5 m (five ft) averaging 770 g/t (23.12 opt) silver. Three diamond drill holes totalling 420 m (1,379 ft) are planned for MW-2.

Drill target CR-3 that will be drilled in a planned second-stage drill program lies plus or minus 243 m (800 ft) northwest of the western end of the rehabilitated main haulage way and at the western edge of the CR-2 drill targets. Five drill holes are planned from the west drill station totalling 1,909 m (6,264 ft).

Drill targets MR-1 and MR-2 will also be targeted in a second-stage drill program and will consist of five holes with plus or minus 1,359 m (4,459 ft).

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 is an exploration and production company with a 100-per-cent interest in the historic Bayhorse silver mine located in Oregon, United States, with a National Instrument 43-101 inferred mineral 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 kilometres 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 per 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 per cent. The company has established an up-to-60-ton-per-cent-day mill and standard flotation processing facility in nearby Payette county, Idaho, United States, with an offtake agreement in place with Ocean Partners U.K. Ltd. The company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.

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