Bayhorse Silver Underground Drill Program Assay Results - New Mineralized Zone Identified

Vancouver, June 10, 2024 - Bayhorse Silver Inc., (TSXV: BHS) (OTCQB: BHSIF) (FSE: 7KXN) (the "Company" or "Bayhorse") reports that recent short hole diamond drilling results into untested ground at the Bayhorse underground workings have identified a new mineralized zone. This is between 1 meter to 4.5 meters (3ft to 17ft) in width and appears to be trending WSW from the high-grade Big Dog zone and from the main historic underground workings at the Bayhorse Silver Mine, Oregon, USA.

Significant assays include:

DDH BDD104

0.3 m (1 ft) of 34.28 oz/t (1066 g/t) silver and 1.85% copper.
0.6 m (2 ft) of 11.34 oz/t (352.7 g/t) silver and 1.15% copper.
0.6 m (2 ft) of 6.92 oz/t (215.2 g/t) silver and 0.334% copper.
0.6 m (2 ft) of 5.75 oz/t (178.8 g/t) silver and 0.344 copper.

DDH BDD105

0.6m (2ft) of 12.72 oz/t (396 g/t) silver and 0.876% copper.
0.6m (2ft) of 5.95 oz/t 1(85 g/t) silver and 0.2% copper.

DDH BDD103

0.6 m (2ft) of 6.27oz/t (195 g/t) silver and 0.22% copper.

Three face samples were taken from the south rib (wall) of the Big Dog bypass decline that was installed in 2021-2022 to safely access the Big Dog zone for drilling and sampling. These samples graded*:

192.35 oz/t (5,984.72 g/t) silver and 10.7% copper.
50.88 oz/t (1,582.54 g/t) silver and 4.51% copper, and
3.3 oz/t (102.64 g/t) silver and 1.72% copper.

*surface samples are considered select samples and may not represent true values.

The full results are tabulated below.

(DDH BDD104 intersected 15 ft (4.5 m) with a weighted average of 4.1 oz/t (127.34 g/t) silver.

Drill holes DDD# 4, 5, 6, 7 and BDD101, were drilled from south to north to test whether the Big Dog mineralization extended south of the existing mined section of the Big Dog, but only encountered anomalous values of mineralization.

Anomalous gold values between 0.001 to 0.005 oz/t (0.03 g/t to 0.15 g/t) were intersected over 2 ft (0.6 m) intervals in DDH101, 102 and 105.

The Bayhorse underground diamond drill program was shortened due to the increasing exploration activity on the newly acquired ground on the Idaho side of the Bayhorse/Pegasus property.

The recently completed VTEM survey shows an anomaly that possibly represents an intrusive mass related to the Bayhorse rhyolite and the silver mineralization. This extends from under the eastern end of the Bayhorse Mine property for over 1 km to the north. A deep drilling program is being planned from the underground workings to test for extensions of the mineralization at depth on this anomaly, and to the west of the current underground workings.

All technical information for the Company's projects is obtained and reported under a formal quality assurance and quality control (QA/QC) program. Core, rock, soil, and stream sediment samples are collected under the supervision of Company geologists in accordance with standard industry practice.

Samples were submitted to Paragon Geochem, an accredited assay laboratory, Reno, Nevada, for 34 element ICP assay.

Figure 1: Possible Intrusive Mass

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Bayhorse CEO, Graeme O'Neill, comments "We have long suspected that the Big Dog high grade zone extends to the south and west, however, until the safety decline was installed, there was no way to drill test it safely. While this newly discovered zone appears to trend WSW of the main workings, this can only be confirmed with further underground drilling."

The Company has granted 4.6 million incentive stock options to officers, directors, consultants and employees. The incentive stock options are exercisable at $0.10 cents per common share, fully vest on the date of grant and have a term of five years from the date of grant.

This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its content. Dr. G.E Ray, P.Geol, a Qualified Person and Director of the Company has prepared, supervised the preparation of, or approved the technical content of this press release.

On Behalf of the Board.

Graeme O'Neill, CEO
866-399-6539

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.

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