Bayhorse Silver Mobilizes Diamond Drill To The Bayhorse Silver Mine For A Minimum 2,000 Meter Underground Drill Program
March 11, 2026 BHS2026-07
Bayhorse Silver Inc, (BHS: TSX-V, BHSIF: OTCQB, 7KXN: FRANKFURT) (the “Company” or “Bayhorse”) has purchased, and mobilized, a diamond drill rig with a 2,500 ft depth capability to its Bayhorse Silver Mine to commence up to 10 diamond drill holes, 2,000 m (6,600 ft) underground drill program targeting IP anomalies CR-1, CR-2 and CR-3 (see news release BHS2026-03) and two IP targets (MR-1 and Deep-1) that lie east of and below the inferred resource area (see news release BHS2025-5) as outlined in Figure1.
Figure 1, Drill targets CR-1, CR-2, CR-3, WM-2, MR-1 and Deep-1 on Bayhorse underground workings
Figure 2, IP low resistivity targets with drill directions and pad locations in the underground workings
Bayhorse CEO Graeme O’Neill, comments, “We are very pleased that the additional analysis of the IP indicates the strong possibility of silver bearing mineralized material with vertical extent both above and below the current mine workings over 300 m (1,000 feet) and extending both east and west of the inferred resource boundary. Our increased drilling objective is to further refine our understanding of the extent, structure and mineralization of the Bayhorse silver endowment and to potentially increase the known resource. The targets identified extend beyond the area of our National Instrument 43-101 Mineral Resource Estimate of 292,300 tons at a grade of 21.65 opt (673 g/t) for 6.3 million ounces of silver (Turner et al. 2018) (Figure 2) with the drill program intended to determine whether inferred ounces can be increased and whether inferred ounces can be brought to an indicated or better category.”
Figure 3. Inferred resource area (cyan) that includes historic high graded mined area and showing DD2024-01 that intersected 700 ft of brecciation
Figure 4. Vertical extend of IP targets and distance from inferred resource zone (MR-1 not shown)
While the upper portion of CR-1 coincides with the historic and current underground mine workings including the Big Dog and Goldilocks mineralized zones that will be initially targeted for mining operations upon receipt of the Operating Permit, the analysis shows the low-resistivity features extend at least 97 m (320 ft ) above the current mine workings at the main portal level and extending down to 200 m (656 ft) below the main portal as shown in Figure 4, above.
CR-2 lies approximately 200 m (656 ft) southeast of CR-1 and is lesser in vertical extent than CR-1. Both CR-1 and CR-2 occur beneath a shallow resistive (pink) layer (Figure 2). CR-3 is located near the northwestern end of historic Goldilocks zone where historic drilling suggests prior operators believed mineralization existed to the north of the known partially mined area.
This additional analysis showing more detailed locations, elevations, distances and orientation from the current underground drill pad locations and workings have resulted in the Company increasing the area for the initial underground drilling program from 1,000 m (3,260 ft) to 2,000 m (6,600 ft) as previously outlined in BHS2026-02.
The IP targets identified during the March 2025 IP survey that lie under the Mine access road can be accessed from the existing underground drill pads. One of these targets was intersected by groundwater test well MW2 at a depth of between 22 m and 33.5 m (72 -110 ft) from surface with a 3 m (10 ft) intersection of 1.5 m (5 ft) grading an average of 1,104 g/t (35.46 opt) silver and 1.5 m (5 ft) averaging 770 g/t (23.12 opt) silver. IP target MR-1 lies approximately 170 m (558 ft) to the northeast of the mine workings.
This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its content. Mark Abrams, AIPG, a Qualified Person and Director of the Company has prepared, supervised the preparation of, or approved the technical content of this news release.
On Behalf of the Board.
Graeme O’Neill, CEO
