Bayhorse Silver Operations Update

Vancouver, British Columbia--(Newsfile Corp. - September 9, 2026) - Bayhorse Silver Inc, (TSXV: BHS) (OTCQB: BHSIF) (FSE: 7KXN) (the "Company" or "Bayhorse") is pleased to report an Operations Update of its activities at its Bayhorse Silver Mine, where underground drilling operations are continuing. Bayhorse CEO, Graeme O'Neill, commented: "Despite the delays caused by the recent wildfires in the Mine's vicinity, and the logistical issues drilling from underground, 6 diamond drill holes totaling 2,750 feet have been completed so far with a 7th underway. Drill core is being submitted for assay on an ongoing basis, and results will be released as they are received." Figure 1. Bulk sample and underground drill station locations To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5015/313608_bayhorsesilverfig1.jpg Figure 2. Proposed surface drill pad locations To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/5015/313608_bayhorsesilverfig2.jpg The Company continues to work with its independent technical consultant, Haley & Aldritch, Inc. ("H&A") to coordinate the significant amount of technical work required for the Bayhorse Mine Operating Permit application and the permitting for the planned surface drill holes. H&A applied in March of this year for up to 8 surface drill pad locations, and due to the significant number of permitting applications received by DOGAMI, the permitting authority, this past year, the Bayhorse Mine surface drilling application has only recently begun being processed. Some changes were requested to the application paperwork and these having been completed, the revised application has been resubmitted for approval. The surface drilling program is targeting an area 136 m (450 ft) north of the Mine portal where groundwater test well MW-2, sampling identified a 3 m (10 ft) intersection grading an average 29.29 opt silver.(BHS2025-12). The surface drill pads in the application are located on already disturbed areas of the Mine so very little additional preparation will be required. As the mineralization at the Bayhorse appears to trend east to west, the surface drill holes will allow drilling to be conducted from south to north, and permit scissor holes across the targets that will better be able to show width, depth, dip, and structure of the mineralization. The approved groundwater testing program for the Bayhorse Mine Operating Permit requires four groundwater tests to be taken in intervals over a 12 month period. The first test was conducted in January of this year with the fourth test to be taken at the end of 2026. On completion of the groundwater testing H&A, will produce a groundwater baseline study report that will form one of the last baseline studies required to accompany the Operating Permit Application. The Company has extracted the permitted 25 ton bulk sample, as disclosed in its news release BHS2026-09 of April 7, 2026. The bulk sample has been pre-screened to minus and plus 8 mm that permits the run of mine material fines to be sampled separately from the plus 8 mm that has also completed crushing and screening. H&A has taken samples from the run of mine material, the run of mine fines, and the run of mine plus 8 mm samples, that have been submitted for assay. Results will be reported as received. The geochemical testing by H&A of the Bulk Sample will form part of the required baseline geochem study to accompany the Operating Permit application. The Operating Permit will be for mining and dry processing the run of mine material through the Company's 40 ton/hour Steinert Ore-Sorter. The Ore-Sorter selects mineralized material from non-mineralized and the Ore-Sorter select, and the minus 8 mm pre-screened run of mine material will be shipped to the Company's float mill in Payette, Idaho leaving mainly non mineralized rejects at the mine as mining waste. As the rhyolite host rock for the mineralization has a high carbonate content, the Ore-Sorter rejects will be tested for an Acid-Base Assessment ("ABA") by H&A to confirm the Company's testing that gives it an ABA of plus 29. That means it has a significant acid reducing potential, and as the Ore-Sorter leaves minimal mineralization in the rejects, the Company believes that the Ore-Sorter rejects will be suitable for underground and above ground mine waste storage with no ability to produce acid rock drainage. The Ore-Sorter rejects are not considered tailings that is normally produced in mineral processing. 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 a Director of the Company, has prepared, supervised the preparation of, or approved the technical content of this news release. Graeme O'Neill, CEO Toll Free: 866-399-6539, Office: 604-684-3394 About Bayhorse Silver Inc. Bayhorse Silver Inc. is an exploration and production company with a 100% interest in the historic Bayhorse Silver Mine located in Oregon, USA with a National Instrument 43-101 inferred resource 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) and the Pegasus Project, in Washington County, Idaho. The Bayhorse Silver Mine and the Pegasus Porphyry Copper Project are 44 km southwest of Hercules Metals' porphyry copper discovery. The Bayhorse Mine is a minimum environmental impact facility capable of processing at a mining rate of up to 200 tons/day that includes a state of the art 40 ton per hour Steinert Ore-Sorter that reduces waste rock entering the processing stream by up to 85%. The Company has established an up to 60 ton/day mill and standard flotation processing facility in nearby Payette County, Idaho, USA with an offtake agreement in place with Ocean Partners UK Limited. The Company has an experienced management and technical team with extensive mining expertise in both exploration and building mines. FORWARD-LOOKING STATEMENTS: This news release includes certain statements that may be deemed "forward-looking statements". In particular, this press release contains forward-looking information relating to, among other things, the drilling program and wildfire impacts. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. In particular, these forward-looking statements are based on assumptions regarding: (i) stability in precious metals markets and silver prices; (ii) no further significant macroeconomic shocks or disruptions; (iii) continued market liquidity and investor access to capital; (iv) recovery of investor sentiment in the junior mining sector; and (v) timely receipt of required regulatory approvals. Factors that could cause the actual results to differ materially from those in forward-looking statements include: fluctuations in metal and commodity prices; continued availability of equity capital and financing; extreme market volatility and changes in investor sentiment; general economic, market, and business conditions; macroeconomic shocks and trade policy uncertainty; market liquidity constraints; timing and receipt of regulatory approvals (including from the TSX Venture Exchange); and risk that market recovery timing may differ materially from management expectations. Readers are cautioned not to place undue reliance on forward-looking statements. For a complete discussion of risk factors affecting the Company, please refer to the "Risks and Uncertainties" section of the Company's most recent Management's Discussion and Analysis available on SEDAR+ at www.sedarplus.ca. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. 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. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313608