Bayhorse Silver Closes Shares for Debt Settlement

October 28, 2025                                                                                                                BHS2025-29

Bayhorse Silver Closes Shares for Debt Settlement

Bayhorse Silver Inc, (BHS: TSX-V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company” or “Bayhorse”) announces that further to its news release dated September 10, 2025, it has now received TSX Venture Exchange approval of the proposed settlement of indebtedness owed indirectly to an officer of the Company. Wiklow Corporate Services Inc. (“Wiklow”) settled $56,114 for an aggregate of 1,402,850 common shares at a price of $0.04 per share. Wiklow is beneficially owned by Donna Moroney, Corporate Secretary of the Company.

The issuance of the debt settlement shares to Wiklow constitutes a “related party transaction” under MI 61-101. The Company is exempt from the MI 61-101 valuation and minority approval requirements for related party transactions in connection with the shares for debt transaction under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) nor the fair market value of the consideration for the transaction exceeds 25% of the Company’s market capitalization (as determined under MI 61-101).

Securities issued under the shares for debt are subject to a hold period expiring on March 1, 2026.

On Behalf of the Board.

Graeme O’Neill, CEO