Bayhorse Silver Mine

2024-04-22

The recent “low-mag” interpretations at both the Bayhorse Silver Mine, and in Idaho, have led to a re-analysis of our underground drilling program at the Mine

We are currently drilling around the historically mined, Big Dog stope, to determine how  the mineralization lies, and whether gold is present, as was historically reported(1984 Silver King Mines)

A current video of the drilling operations as of April 22, 2024, can be seen here

BigDogDrilling22-24

Some core has been submitted for assay, for both Silver & Gold, and the pulps have been submitted to a separate lab in Reno, NV, for analysis of the copper content. We expect the results towards the end of May, 2024.

Groundwater test wells are anticipated to be drilled in early June, 2024, which should be the last of the “baseline” studies to enable us to resubmit the operating permit application, approval of which will allow us to recommence underground mining operations.

The current underground drill program is to further advance knowledge about our known silver deposit for recommencement of mining operations, as well as to understand to what degree the low resistivity zone, and low magnetic zone west of the existing underground workings are mineralized.

2022-02 During this past 30 days, we have started drifting to the West along the highly enriched “Big Dog” structure to develop a new drill station to determine the extent of zone. The zone pinches and swells from 1/3 meter (14 inches) to up to 3 meters (9 feet) in width and is open on strike to both east and west, and to elevation and to depth. Historic sampling during prior mining operations by Silver King Mines(1984), and during the recent development work, has identified grades in excess of 300 oz (9,331 gms) per ton. Development of mine “working faces” where “composite face grades” of the mineralization up to 54 oz/t silver (1,680 g/t) can be mined and drifting for drill station development and sampling is ongoing.

2022-01 We have opened up a significant zone of mineralization at the most westerly reaches, over 900 feet inside the mine, on the main mineralized zone at the Bayhorse Silver Mine. The Company has completed a new 120 foot exploration drift to the south and east of the historic main haulage way that intersects the high grade zones that were previously mined in the Big Dog stope.

Recent drilling directly above and to the north of the main haulageway, has identified a 3.5 meter (12 ft) intersection averaging 24.65 oz/t (766 g/t) silver that is 3 meters east of a historic  24.5 meter (80 ft) raise. This mineralization rises at a 45 – 50 degree angle to the north and is between 2.5 – 3 meters (6 – 8 ft) thick.

Raise Video

This intersection confirms the high grade mineralization reported in 1984 when the mine was shut down over low silver prices (<$5.00/oz) It appears to form a solid zone of  minable, high grade  mineralization (each square is 5 meters (16.5 ft) that is open to the north, east, and west, and that will be immediate high grade mill feed.

At the top of the raise assays reached as high as 100 oz/t in mined rounds (approx 50-70 tons/round)

Drifting for drilling is underway in this area of the Mine to further develop minable material. (Drill holes DH BH0012 was above and BH009 was below the mineralized horizon)

See Mine Photos

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The Bayhorse Silver Mine is a past producing mine. The Company has brought the mine back into an operating status. As disclosed in the National Instrument 43-101 Technical Report on the Bayhorse Mine, (link to report at top of page) there is a known mineralized zone (Herdrick 1981) at the Bayhorse Mine reportedly approximately 840 feet in length, 85 feet in width, and 22 feet thick, estimated to contain 160,000 tons of silver bearing mineralization at a reported grade of 17-20 ounces per ton silver at a 7.5 ounce per ton cut off.

( The Company advises that a qualified person has not done sufficient work to verify the historical estimates nor classify the historical estimates as current mineral resources or mineral reserves and the Company is not treating the historical estimates as current mineral resources or mineral reserves. There can be no assurance that additional work will result in the definition of any current resource or reserve.)

Past sampling that can be relied upon has identified grades as high as 69 oz/t (2,146 g/t) . The Company has confidence in this sampling as it was conducted by the principal of Cordex Mining, Dr. A. Wallace, P. Geo, (Dr, Wallace, of Reno, NV. is a well respected exploration and mining geologist and has been honored as a member of the Mining and Exploration Hall of Fame) and the Company has acquired the data directly from Cordex. (other sampling prior to Cordex has identified grades of up to 260 oz/t Ag ) In 2014 we sampled a bonanza grade of 4,835 oz/ton silver

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