Bayhorse Silver Closes First Tranche Of Its Recently Announced Private Placement Of Up To 25 Million Units For Ongoing Work at The Bayhorse Silver Mine and IP Survey On Its Adjacent Pegasus Project, Idaho, USA.

September 15, 2025.                                                                                       BHS25-22

Bayhorse Silver Closes First Tranche Of Its Recently Announced Private Placement Of Up To 25 Million Units For Ongoing Work at The Bayhorse Silver Mine and IP Survey On Its Adjacent Pegasus Project, Idaho, USA.

Bayhorse Silver Inc, (BHS: TSX-V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company” or “Bayhorse”) announces that it has closed a first tranche consisting of 9,351,000 Units of its previously announced twenty-five million unit non-brokered private for gross proceeds of $374,040.

Each Unit consists of one common share and one transferable common share purchase warrant. Each warrant will be exercisable into one common share of the company at a price of six cents per common share for a period of 24 months from the date of issuance.

The funds received are to conduct an IP survey (48%) to further define drill targets on the Pegasus Project  for both Bayhorse style silver mineralization and test for the presence of a porphyry copper deposit, to advance the final Bayhorse Mine permitting (31%), and for general and administrative expenses (21%).

Bayhorse CEO, Graeme O’Neill, has subscribed for 8,000,000 Units that he has funded through arranged sales privately through the facilities of the TSX venture Exchange. Bayhorse CFO, Rick Low, has subscribed for 375,000 Units. This participation by Bayhorse’s CEO and CFO constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the units acquired by the insider, nor the consideration for the Units paid by such insider, exceed 25% of the Company’s market capitalization.

Finders’ fees may be payable on a portion of the financing not taken down by insiders according to the policies of the TSX Venture Exchange.

Securities issued under this placement will be subject to a hold period expiring on January 16, 2026.

The Company has granted 2,600,000 incentive stock options to Officers, Directors, consultants and employees of the Company, exercisable at $0.06 cents for five years to replace 3,075,000 expiring options.

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