Posted on Dec 23, 2021 in News Release

December 14, 2021                                                                                                               BHS2021-20

Bayhorse Silver Inc, (BHS: TSX-V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company” or “Bayhorse”) announces, subject to TSX Venture Exchange approval, a 3 million Unit Flow-Through Private Placement for gross proceeds of $300,000. Each Flow-Through Unit will consist of one common share of the Company and one transferable common share purchase warrant at $0.10 cents per Unit. Each common share purchase warrant is exercisable into one common share of the Company at an exercise price of $0.15 cents for two years from date of issuance.

In addition to any other exemption available to the Company, participation in the non-brokered financing is also open to all existing Canadian shareholders, even if not accredited investors, under the “existing shareholder” exemption of National Instrument 45-106 as promulgated in Multilateral CSA notice 45-313 in participating jurisdictions.

The funds raised are for the purposes of advancing the Company’s Brandywine gold project 40 minutes by paved highway north of Vancouver, BC.

The Company has recently published a National Instrument NI-43-101 Technical Report . (Apex Geoscience 2021) on the Brandywine Property, and, subject to any final permitting approval, is planning to complete the first stage geological and geophysical work program at the earliest opportunity. As reported in the Company’s news release BHS2020-Visible gold was identified at the Dave’s Pond drilling locations as outlined in the Company’s QA/QC Report, that forms part of the NI-43-101 Technical Report

Finder fees may be payable on a portion of the financing not taken down by insiders according to the policies of the TSX-V Exchange.

Securities issued under this placement will be subject to a four month plus a day hold period from the date of issuance.

The Company announces a grant of 200,000 incentive stock options to senior Bayhorse Mine Operations personnel. The options are exercisable at $0.15 cents per share for five years from date of issuance.

This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents.

On Behalf of the Board,

Graeme O’Neill, CEO