Bayhorse Increases and Closes Non-Flow Through Finanacing

Posted on Jul 13, 2020 in News Release

July 10, 2020                                                                       BHS2020-15

BAYHORSE INCREASES AND CLOSES
SECOND TRANCHE OF NON-FLOW-THROUGH FINANCING

Bayhorse Silver Inc,
BHS: TSX-V (the “Company” or “Bayhorse”)
has, due to substantial oversubscriptions,
and subject to the approval of the TSX Venture Exchange, has increased the non-flow-through
portion of its previously announced 5 million Unit Private Placement to 6,756,562
million Units and closed the second and final tranche of 3,950,000 Units for
gross proceeds of $316,000. 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 a total of 2,750,000
Units of the placement. As prior announced in news release BHS2020-14, 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

1-866-399-6539