Bayhorse Closes First Tranche Of Financing

Posted on Jul 13, 2020 in News Release

July 2, 2020                                BHS2020-14

BAYHORSE CLOSES FIRST TRANCHE OF NON-FLOW-THROUGH FINANCING

Bayhorse Silver Inc,
BHS: TSX-V (the “Company” or “Bayhorse”)
has closed a first tranche of
2,806,562 Units of its previously announced 5 million non-flow through Unit
Private Placement for gross proceeds of $224,525. Each non-flow-through Unit
will consist of one common share at $0.08 cents per share and one transferable
common share purchase warrant exercisable at $0.18 cents for two years from
date of issuance.

In
addition to any other exemption available to the Company, participation in the
non-brokered 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 the purpose advancing the Company’s Brandywine project and for optimizing the metallurgical work on
the silver recovery from the upgrading, processing and refining of silver
mineralization from the Bayhorse Silver Mine, Oregon, USA., as well as general
and administrative purposes.

Finder
fees may be payable on a portion of the financing not taken down by insiders
according to the policies of the TSX-V Exchange.

Graeme
O’Neill, a Director and Officer of the Company has subscribed for 1,750,000
Units of the placement. He has funded his subscription through the sale, both
privately and through the facilities of the TSX-Venture Exchange of 1,750,000
shares of the Company.

Securities
issued under this placement will be subject to a four month plus a day hold
period from the date of issuance.

This
News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of
Directors, which accepts full responsibility for its contents.

On Behalf of the Board,

Graeme O’Neill, CEO

company@bayhorsesilver.com