Bayhorse Silver Announces Reduction of Previous 2023 Announced Private Placement

December 24, 2024.                                                                                                  BHS2024-31

Bayhorse Silver Announces Reduction of Previous 2023 Announced Private Placement

Bayhorse Silver Inc, (BHS: TSX-V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company” or “Bayhorse”) announces that pursuant to its news release dated January 27, 2023, the Company announced it had closed a non-brokered private placement of 12,787,500 units at $0.04 cents per unit for gross proceeds of $511,500, with each unit consisting of one common share and one transferable share purchase warrant to acquire one additional common share at a price of $0.10 per share, exercisable for a period 24 months. Subsequent to the issuance of the news release, 2,000,000 units to be issued to Graeme O’Neill, the Company’s CEO and a director, were cancelled as a result of complications with regard to payment for the units.  The units were held with the Company’s transfer agent prior to their cancellation and were never received by Mr. O’Neill. As a result of this, the private placement was reduced to 10,787,500 units for gross proceeds of $431,500.

The Company also announces that, further to its News Release dated December 3, 2024, it has withdrawn its application with the TSX Venture Exchange to extend the expiry date of 10,787,500 warrants with an exercise price of $0.10 per share, expiring on December 20, 2024. As a result, the expiry date of the warrants was not extended and they expired on December 20, 2024.

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

On Behalf of the Board.

Graeme O’Neill, CEO