Bayhorse Silver Extends Closing And Increases Convertible, Silver Convertible, 12% Debenture Financing

November 15, 2018 BHS2018-35

BAYHORSE SILVER EXTENDS CLOSING AND INCREASES CONVERTIBLE, SILVER CONVERTIBLE, 12% DEBENTURE FINANCING

Bayhorse Silver Inc. BHS: TSX-V (the “Company” or “Bayhorse“) announces, that, subject to approval from the TSX Venture Exchange it is increasing the previously announced Debenture financing from 220 Units to 250 Units, for gross proceeds of US$1,250,000. In addition, the closing of the financing has now been extended from November 16, 2018 to December 16, 2018.

The Debentures shall bear interest at a rate of twelve (12%) percent per annum, payable annually in arrears. Additionally, at the election of the Holders, the Debentures will be convertible into common shares of the Company at C$0.125 cents per share in accordance with the policies of the TSX-V, or, conditional upon notification by the Corporation of silver production, the Debenture holder may elect to convert the Debenture principal and accrued interest into ounces of silver at a conversion rate of US$15.50 an ounce.

Each Debenture shall entitle the Holder to twenty thousand Warrants (the “Debenture Warrants”) exercisable into common shares of the Company at Canadian $0.25 per Debenture Warrant Share until three years from the date of issue. In addition to any other exemption available to the Company, participation in the Debenture financing is also open to all existing 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 working capital for the Bayhorse Silver Mine as well as general and administrative costs.

Purchasers of the Debentures shall be granted pre-emptive rights during the time they hold the Debentures to participate in any future issuance of debt securities of the Company. Finder fees may be payable on a portion of the financing according to the policies of the TSX-V.

The Company has granted 100,000 Incentive Stock Options to consultants of the Company exercisable at $0.15 for five years.

On Behalf of the Board.

Graeme O’Neill, CEO
604-684-3394

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.