March 4 201 BHS2019-06
BAYHORSE AGM RESULTS.
Bayhorse Silver Inc., TSX-V: BHS (“Bayhorse” or the “Company”) conducted its Annual General Meeting (“AGM”) on Thursday, February 28, 2019 in Vancouver, BC.
The four directors up for nomination, Graeme O’Neill, Clay Conway, Corey Klassen and John Cerenzia, were reelected as directors with over 99% of the votes counted. Also approved were the appointment of Charlton and Company, auditors, and the Company’s rolling stock option plan.
Holding Silver. Bayhorse President & CFO Rick Low and Bayhorse Consultant & QP Dr. Stewart Jackson, P.Geol
Since the first silver pour, there has been interest generated in buying future production of silver from the Company. The production of silver of .9999 fineness gives the Company flexibility to sell its production directly to a mint or other interested parties. The Company intends to make available for future sales and delivery from the current test processing/refining program, the first 1,000 ounces of .9999 fine silver in 10 ounce bars on a first come, first served, basis.
Bayhorse CEO, Graeme O’Neill, expressed how pleased he was with the results of the first silver pour from the Bayhorse mineralization. Mineral Solutions LLC and Liberty Refiners LLC (together, “Minerals”) are able to produce silver of .9999 fineness, as it crystalizes out of solution at that fineness in their ordinary course of refining. For comparison, “Good Delivery” bars as determined by the London Bullion Metals Association (LBMA) are 1,000 ounces +/- at .999 fineness, so the Bayhorse silver, as delivered, is of a higher quality.
Graeme O’Neill commented, “I am very pleased to see that our first pour has generated interest from buyers for our silver. I look forward to working closely with Minerals in other areas of upgrading, processing and refining of the Bayhorse mineralization, to ensure we meet our goal of 98% plus silver recovery, for further production and future sales.”
The silver fineness is guaranteed by Minerals, and comparison assays are conducted by Christopherson Umpire Assayer of Osburn, Idaho. The analytical method used for the silver analysis consists of 1 Assay Ton (AT) samples subjected to fire assay with gravimetric finish.
Silver has stubbornly traded at over 80 ounces to 1 ounce of gold for over a year now, and is currently back over 85:1. Will it stay there? No one really knows, but we suggest reading Erfle’s recent silver market analysis at https://www.kitco.com/commentaries/2019-03-01/Silver-Stocks-Remain-Buoyant-as-Merger-Mania-Heats-Up.html
The Company is not basing any decision to produce on a feasibility study of mineral reserves demonstrating economic and technical viability, and also 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, a drop in price of commodities produced, namely silver, copper, lead and zinc, from the pricing used to make a production decision. Failure of grades of the produced material to fall within the parameters used to make the production decision and increase in mining costs due to changes within the mine during development and mining procedures. There are also metallurgical recovery changes that cannot be anticipated at the time of production.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents. 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
Bayhorse Silver Inc., a junior exploration company, has earned 100% interest in the historic Bayhorse Silver Mine, Oregon, USA. The Company has an experienced management and technical team with extensive exploration and mining expertise.
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.