Bayhorse Silver Inc.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Bayhorse Silver is an exploration and production company with a 100-per-cent interest in the historic Bayhorse silver mine, located in Oregon, United States, and an option to acquire an 80-per-cent interest on the Brandywine precious-metals-rich, volcanogenic massive sulphide property, located in British Columbia, Canada. The Company has an experienced management and technical team with extensive mining expertise surrounding exploration and building mines.

Projects in Hand

(1) Bayhorse Silver Mine, Baker County, Oregon, US

The Bayhorse Silver Mine is a past producing mine, located 14 km north of Huntington, Oregon. The Company has brought the mine back into an operating status. The Company has engaged APEX Geoscience Ltd. to supervise the ongoing minimum 2,000 meter drill program from within the over 1,500 feet of underground workings, to increase silver resource.

Through recent underground drilling and sampling, the main mineral zone has been extended over 100 feet past the historic 1984 workings. Drilling and sampling continues to delineate the further extension of high grade mineralization at the Bayhorse Silver Mine. (See news release dated April 26, 2021)

Bayhorse Silver extends silver zone to south, uncovers significant stockpile of mined rock in upper historical stopes. Bayhorse chief executive officer Graeme O'Neill comments: "While we anticipated that mineralization would extend to the south, it is very encouraging that this is confirmed by drifting into it as our drilling program progresses. I am also pleased to see increased ore-sorter recovery due to more intense mineralization in the mined material. I am further gratified that, not only does the price of silver remain elevated, boding well for the future prospects, but prices are also rising for both copper ($4.65 per lb [pound]) and antimony ($3.65 per lb) that constitute 20 per cent to 25 per cent of our resultant concentrate." (See news release dated May 20, 2021)

Bayhorse Silver Mine – Ready to Produce

• Recently completed $1.75M financing to fund operations
• Initial Off-Take Agreement in place for the sale of silver concentrate from the Bayhorse Silver Mine with Ocean Partners UK Limited
• Mine expected to produce silver concentrate of 7,500 g/t – 15,000 g/t (241 oz/t – 482 oz/t) 11% copper
• Maiden Inferred Mineral Resource 6,328,400 oz silver
• Fully permitted under Oregon mine laws
• Low environmental impact mine
• Revenue stream almost immediately
• Low operation costs (two years of mining cost data)
• Highly experienced management, consultants and operation teams

(2) Brandywine Silver-Gold Project, British Columbia, Canada

Brandywine precious-metals-rich, past producing, volcanogenic massive sulphide (VMS) project

• The Brandywine Project lies 14 km south of Whistler, and 1.5 hours north of Vancouver, BC, on the all weather “Sea to Sky” highway. The Project is logistically readily accessible, with all necessary services close at hand.
• The Brandywine deposit falls within a class of high grade gold-silver volcanogenic massive sulphide deposits. This family of deposits is particularly silver and lead rich with important gold, zinc, copper values.

Brandywine Exploration Potential

• Historical silver/gold producer
• 1,432 hectares/3,580 acres
• Drill Permit pending
• Expansion drilling at Dave's Pond with historical 36 g/t Au over 1.5 m & 14 g/t Au over 3.2 m
• Target drilling of the Placer Dome high grade silver zone (3% + silver south of Silver Tunnel)
• Expand soil sampling over 1 km strike west of Dave's Pond where 6 g/t Au in soils identified
• Sampling between Dave's Pond high grade gold zone and the Tedi Pit, 1 km to the North
• Send bulk samples to Bayhorse mill for complete metallurgical testing
• VTEM survey to confirm additional targets

Looking Forward – Blue Sky

• Commence shipping silver concentrate to Ocean Partners UK Limited under the January 2021 Offtake Agreement
• Ongoing underground drill program at the Bayhorse Mine to increase silver resource
• Conduct VTEM survey on Brandywine to tie in all historic data
• Drill permitting approval for Brandywine Silver-Gold Project
• Commence permitted drill program in high grade gold zones at Brandywine Silver-Gold Project
• Increase the Bayhorse daily silver concentrate production capacity to up to 12 tons/day (450,000 oz/Ag to 1,080,00 oz/Ag per year)

Management

Management and Directors

Graeme O'Neill, President & CEO

Founder of the Company; CEO since inception

Involved in management of junior exploration companies in the minerals sector for over 17 years as CEO. During this time developed barite mine close to Teck's Trail Smelter that was sold to a European interests

Highly experienced in logistics, planning, and operations development, with a strong background in the regulatory and compliance requirements of public companies

Rick Low, CPA, CA, B.Comm., CFO

Over 20 years progressive management experience in Canada and internationally with more than 10 years senior management experience as CFO and director for various public companies

Former CFO of Jinshan Gold

Donna Moroney, Corporate Secretary

Over 30 years experience in regulatory and corporate compliance in both Canada and the United States, and as a senior officer of various public companies

President of a corporate services company

Currently serves as a director and/or senior officer for eight public companies

James Walker, MSc. CEng, Director

Over 13 years of engineering and project management experience. Engineering project manager for the U.K. Ministry of Defence

John Cerenzia, CIM, Director

Extensive experience with small cap and junior resource companies, including as a former president of Alive International Inc. (now Simberi Gold Corporation)

Consultant to a number of public companies and is a former Systems Business Analyst with the Ontario Ministry of Transportation

Corey Klassen, Director

Strong financial background with considerable experience with junior resource companies

Currently director of two public companies

Has been a director of Bayhorse Silver for 10 years

Advisory Board

Dr. Stewart A. Jackson, P.Geo.

Independent NI 43-101 Consultants

Dr. G. E. Ray, P.Geo., B.Comm.

APEX Geoscience Ltd., M.Dufresne, A. Turner et al

Mining Consultants

Dr. William Willoughby, Ph.D., P.Eng., Mining Engineer

John Jewitt, P.Eng.

News Update

On March 28, 2022, Bayhorse Silver Inc. announced that the TSX Venture Exchange has consented to the extension in the expiry date of the following warrants.

Private placement:

Number of warrants: 11.95 million

Original expiry date of warrants: April 2, 2022 (as to 4.53 million warrants), April 17, 2022 (as to 7.42 million warrants)

New expiry date of warrants: Oct. 2, 2022 (as to 4.53 million warrants), Oct. 17, 2022 (as to 7.42 million warrants)

Exercise price of warrants: 10 cents

And subject to TSX Venture Exchange approval, Bayhorse Silver Inc. has increased and closed its non-brokered private placement from up to 10 million units at eight cents per unit, to 11,497,000 units for gross proceeds of $919,760. The proceeds of the financing are for the Bayhorse silver mine, for mill operations working capital, for full operating permit approval, that allows unlimited mining operations, and general and administrative expenses.

On September 03, 2021, Bayhorse Silver Inc. announced that the company has arranged, subject to TSX-V exchange approval, a non-brokered private placement for up to 12 million units at 13.5 cents per unit for gross proceeds of $1.62-million.

On August 31, 2021, Bayhorse Silver Inc. reported on underground drilling activity at its Bayhorse Silver Mine, Oregon, USA. The Company has established new drill stations inside the historic workings to enable the increase of its underground diamond drill program to a minimum 1,500 meters. Drilling will be conducted at multiple levels inside the current working along 1,000 feet of underground workings.

On August 24, 2021, Bayhorse Silver Inc.'s shares have begun trading on the OTCQB market under the symbol BHSIF, effective Aug. 24, 2021. The company has also received Depository Trust Company (DTC) eligibility in the United States.

On May 20, 2021, Bayhorse Silver Inc. released exploration results from preliminary drilling and sampling at the Bayhorse Silver Mine in United States. Bayhorse Silver samples up to 12.4 oz/t Ag at Bayhorse. Bayhorse Silver extends silver zone to south, uncovers significant stockpile of mined rock in upper historical stopes.

On April 26, 2021, Bayhorse Silver Inc. reported that it extends known strike of silver mineralization at Bayhorse Silver Mine, realizes over $1.8 million in warrant and stock option exercises to the Company.

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