BHS: TSX-V

SILVER SUMMIT

CORPORATE PRESENTATION

TSX.V: BHS

Cautionary Note

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The Company advises that the following presentation includes forward looking statements and contains information that is based upon a NI-43-101 Inferred Resource, and a Conceptual Exploration Target.

The terms “probable tonnages”, “orebody”, “probable ore” and “ore” are measurement categories other than those required to be used for Canadian securities reporting purposes and do not satisfy the CIM definitions for mineral resources or mineral reserves. The terms “probable tonnages”, “ore”, “orebody” and/or “probable ore” etc. would constitute mineralized material under Canadian securities reporting requirements.

The Company is not basing any decision to produce silver and other metals on a feasibility study of mineral reserves demonstrating economic and technical viability and also advises there is increased uncertainty and specific economic and technical risks of failure with any production decision. These risks include drop in price of commodities produced, namely silver, copper, lead, and zinc, from the pricing used to make the production decision, failure of the grades of the produced material tofall within the parameters used to make the production decision, and increase in mining costs due to changes within the mine during development and mining procedures. There are also metallurgical recovery changes that cannot be anticipated at the time of production.

All statements herein, other than statements of historical fact, including, without limitation, plans for and intentions with respect to the Company’s capitalization, preparation of technical reports, proposed work programs, budgets and proposed expenditures,permitting, construction and production timing are forward looking statements. While the Company believes such statements arereasonable, no assurance can be given that any expectations will prove to be correct and the forward-looking statements are not guarantees of future results or performance and that actual results may differ materially from those in the forward-looking statements. Readers should not place undue reliance upon forward-looking statements and the Company undertakes no obligation to re-issue or update any forward-looking statements as a result of new information or events after the date hereof or as may be required by law. All forward-looking statements and information herein are qualified by this cautionary statement

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Bayhorse Silver Inc.

Toronto Venture (Primary) BHS

OTC Pink KXPLF

Frankfurt 7KXN

Share Price (10/11/19) $0.11

Shares Outstanding (basic) 98.2 million

Market Cap (10/11/19) $11 million

Shares Outstanding (Fully Diluted) 149.6 million

Cash Balance (10/11/19) $0.10 million

38%

45%

Management holds 11% of the Company

Overview

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➢ Mine produces .9999 fine silver from our concentrate under our agreement with Metals Solutions/Liberty Refiners, Coeur d Alene, ID

➢ Maiden Inferred Mineral Resource 6,328,400 oz silver

➢ Fully permitted under Oregon mine laws

➢ Mine placed in operation for USD$6.75 million

➢ Opened for $1.00 per inferred resource ounce

➢ Low environmental impact mine

➢ Revenue stream almost immediately

➢ Low operation costs (two years of mining cost data)

➢ Highly experienced management, consultants and operation teams

Bayhorse Silver Mine – Ready For Production Highlights

TSX.V: BHS

➢ Easily access year round - located 14km north of Huntington, Oregon, off US Interstate I-84 on County road

➢ Electrical power at mine

➢ Close to skilled workforce

➢ Airport regular service 99 miles (160 km) on Interstate I-84 at Boise, ID

➢ Bayhorse Silver Mine infrastructure includes mine office, 1750 ft of underground workings and with the Steinert US$1M ore sorter, a complete 100 ton/day crushing and processing facility.

➢ Bayhorse Mine area is semi-desert with hot summers cool winters; work throughout the year

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Bayhorse Silver Mine Easy To Get To Location and Infrastructure

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Classification* Ag Cutoff(ounces per ton – opt)*

Tonnage (in short tons)

Ag Grade(ounces

per short ton – opt)

Ag Grade (parts per million)*

Contained Ag*(troy ounces)

Inferred

0 312,800 20.51 703.3 6,417,300

2.5 305,800 20.94 718.1 6,404,100

5 301,700 21.18 726.0 6,388,900

7.5 292,300 21.65 742.4 6,328,400

10 275,500 22.43 769.0 6,178,100

12.5 253,700 23.39 801.9 5,934,000

*Silver Grades Shown Are Ounces Per Ton (31.1035 Grams Per Ounce)

Resource292,300 tons NI-43-101 Inferred Mineral Resource 21.65 opt Ag grade 6,328,400 oz of contained silver with a cut-off grade of 7.5 oz/tMineralized silver zone hosted in rhyolite with dimensions approximately 800 ft (245 m) along strike east-west, 200 ft (60 m) across strike and 23 ft (7 m) in thickness

Conceptual Exploration Target ModelledAn additional conceptual exploration target of 200,000 to 250,000 tons at a range of grades of 10 to 20 opt Ag for a range of 2 million to 5 million ounces of silver.

NI 43-101 Technical Report, 2018

Classification* Ag Cutoff(ounces per ton – opt)*

Tonnage (in short tons)

Ag Grade(ounces

per short ton – opt)

Ag Grade (parts per million)*

Contained Ag*(troy ounces)

Inferred

0 312,800 20.51 703.3 6,417,300

2.5 305,800 20.94 718.1 6,404,100

5 301,700 21.18 726.0 6,388,900

7.5 292,300 21.65 742.4 6,328,400

10 275,500 22.43 769.0 6,178,100

12.5 253,700 23.39 801.9 5,934,000

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Mining & Processing Ready To Go

➢ Anticipated full silver production at Bayhorse Silver Mine, subject to financing

➢ Current capacity 100 tons/day based upon 300 days/year

➢ Proposed increase to 200 tons/day

➢ Preprocessing reduces waste rock by 95% +, to create a highly concentrated end product

➢ 40 ton/hour Steinert XRT Ore-Sorter upgrades by 20 times sulphides in + 8mm to 25mm sized rock, selecting and upgrading as low as 1 oz/ton silver run of mine material

➢ On-site Milling/Processing all selected mineralized material to under 100 mesh for gravity/float concentration

➢ Waste rock rejection reduces concentrate volume of mineralized material by up to 95% at minimal processing cost

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Silver Gold Comparisons

Over the past year, the silver to gold ration has reached an unprecedented 94 oz silver to 1 oz gold. Over the past 30 years, the ratio imbalance between silver and gold has only once spent this length of time above 90:1 and suggests a correction below 80:1 can happen anytime, and quickly, with a resulting rapid increase in silver prices.

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Mining & Processing The High Grade Silver

200 ton/day mining processing capability➢ State of the art 40 ton/hour “Steinert XRT Ore-

Sorter” reduces waste rock entering processing stream

➢ Operational 7 day/week; mining high grade zone 1,000 feet inside the Mine

➢ Mining teams led by highly experienced hard rock miners from Idaho’s “Silver Valley”

The Company advises it is not basing its decision to produce on a feasibility study of mineral reserves demonstrating economic and technical viability and also advises there is increased uncertainty and specific economic and technical risks of failure associated with its production decision.

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Significant Silver & Gold Expansion Potential

Underground Exploration Program To Follow Westerly Strike, Southerly Dip of Mineralization

Goldilocks Zone

Up to 100oz/ton Ag

Big Dog ZoneUp to 350oz/ton Ag

➢ 1,000 – 2,000 feet strike extension target to West

➢ Possible extension to depth (500 – 1,000 ft)

➢ Extend width to + 200 ft

Conceptual Exploration Targets To Be Drilled Underground (Apex 2018)

➢ 200,000 to 250,000 tons @ 10 – 20 oz/ton silver 2,000,000 oz/Ag to 5,000,000 oz/Ag

➢ Mined silver up to 320 oz/t (2019)➢ gold occurrences to 10 g/t Au (Historic production reports)

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Concentrate Upgrading Post Ore-Sorter 400 + Oz/T

How do we make concentrate of 400 oz per ton of silver when there is only 21.5 oz per ton average to start with?

40 Ton/Hour Steinert Ore-SorterTertiary crusher/ball mill/regrind circuit

Gravity concentrator, flotation concentrator

Concentrate

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➢ Founder of the Company; CEO since inception ➢ Involved in management of junior exploration companies in the minerals sector for over 15 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

➢ 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

➢ As CFO of Jinshan Gold, a Friedland Company, which subsequently sold to Chinese interests, he oversaw the finance and accounting function for a gold mining project during its progression from exploration, feasibility, construction and developmentthrough to commercial production

➢ Qualified Chartered Professional Accountant (CA) with the Chartered Professional Accountants of B.C. and graduated with a B. Comm. degree from the University of British Columbia

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

➢ As president of a corporate services company, she assists public companies in maintaining compliance demands, as well as keepingthem up-to-date on relevant issues, policies and working practices

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

➢ over thirteen years of engineering and project management experience in mechanical engineering, construction, manufacturing, engineering design, infrastructure, safety management, and nuclear engineering. engineering project manager for the U.K. Ministry of Defence, responsible for engineering and construction projects totaling over $240M.

➢ holds degrees in Mechanical Engineering, Mining Engineering and Nuclear Engineering as well as qualifications in Project Management and Accountancy and is a Chartered Engineer with the IMechE, registered as a Project Manager Professional with the APM and registered with APEGA as an Engineer.

➢ Extensive experience with small cap and junior resource companies, including as a former president of Alive International Inc., now Simberi Gold Corporation, a TSX-V company with mineral exploration properties located in Papua New GuineaWestern Australia

➢ Consultant to a number of public companies and is a former Systems Business Analyst with the Ontario Ministry of Transportation➢ Mr. Cerenzia is a graduate of the Canadian Institute of Management (CIM)

➢ 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

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Graeme O’Neill,CEO

Rick Low, CPA, CA, B.CommPresident & CFO

Donna Maroney, Corporate Secretary

James Walker, MSc. CEng, Director

John Cerenzia, CIMDirector

Corey Klassen,

Director

Management and Directors

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➢ Professional Geologist in the Province of Ontario, Canada with substantial experience in managing public companies, including Crown Resources, where he developed the Buckhorn Gold Mine in WA as an open pit before it was substantially developed by Kinross as an underground mine

➢ Holds a B.Sc, in Geology from the University of Western Ontario, an M.Sc. in Stratigraphy and Mineral Deposits from the University of Toronto, and a Ph.D in Stratigraphy and Economic Geology from the University of Alberta

➢ Member of several scientific and professional organizations and has authored several geological papers

➢ Worked as a field and economic geologist for 44 years with major and junior exploration companies, including Rio Tinto Zinc, Falconbridge and Billiton Minerals in exploration for Archean and Proterozoic greenstone-hosted gold, Cu-Au skarns, IOCG's, Cu porphyries and Au-Ag epithermal and mesothermal deposits.

➢ Member of the Association of Professional Geoscientists of British Columbia and the Association of Professional Engineers of Saskatchewan

➢ APEX has offices in Canada, and globally; extensive experience in resource modelling

➢ Highly experienced Mining Engineer with 35 years of experience in all aspects of mining projects, including: planning and evaluations, exploration, drilling, underground and surface development, technical studies, permitting and financing.

➢ Dr. Willoughby is CEO of Cypress Resources and Caliber Minerals.

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ADVISORY BOARD

Dr. Stewart A. Jackson

P.Geo.

INDEPENDENT

NI-43-101 CONSULTANTS

Dr. G. E. Ray,

P.Geo., CA, B.Comm

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

MINING CONSULTANT

Dr. William Willoughby

Ph.D., P.Eng. Mining Engineer

Consultants

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Brandywine High Grade Gold/Silver/VMS Project

Brandywine Gold Silver Volcanogenic Massive Sulphide Project

➢ The Brandywine deposit falls within a class of high gold-silver volcanogenic massive sulphide deposits and complements the Bayhorse Silver Mine by providing a gold rich future mining target.

➢ This family of deposits, that include the Eskay Creek deposit of northern British Columbia; the Green’s Creek deposit on Admiralty Island near Juneau, Alaska; the Bawdwin deposit in Myanmar; and the Rosebery deposit of Tasmania, is particularly silver and lead rich with important gold, zinc, copper values.

➢ The Brandywine Project lies 14 Km south of Whistler BC, Canada. Historical smelter shipments from prior mining are:

➢ A 50 ton bulk sample in 1967 grading 83.1 g/t gold, 354 g/t silver, 9.9% lead, 7.4% zinc, 0.30% copper to East Helena , Montana, smelter from the Silver Tunnel and Main Zone (Melling, 1994, Walus 2011)

➢ A 500 ton sample grading 14.2% lead, 12.5% zinc, 339 g/t silver, and 2.57 g/t gold to the Cominco Smelter in Trail in 1977 (Walus, 2011, Melling, 1994).

Northair Gold Mine

Silver tunnel

Quartz tunnel

Dave’s pit

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Brandywine - Exposure To Bonanza Grade Gold

Nothair Gold Mine

Silver tunnel

Quartz tunnel

Dave’s pit

Brandywine Exploration Potential

➢ Work Permit application filed

➢ 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 Pit 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

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Brandywine High Grade Gold/Silver/VMS Project

Brandywine Precious Metals Rich VMS Project1.5 hours north of Vancouver, BC, on the all weather “Sea to Sky” highway, the Brandywine precious metals rich, past producing, VMS project is logistically readily accessible, with all necessary services close at hand.

Highlights➢ Historical silver/gold producer➢ 1,432 hectares/3,580 acres➢ Significant historic drilling➢ 36 g/t Au over 1.5 m➢ Gold/silver in soil anomalies mapped by

Placer Dome

Silver in soil anomalies

Gold in soil anomalies

Gold in soil anomalies

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➢ Increase the Bayhorse targeted daily production capacity from 100 to 200 tons and proposed ounces from 640,000 to 1,300,000 per year

➢ Expand the Bayhorse resource by drilling program to potentially double the size

➢ Upon cash flow from Bayhorse Mine, commence exploration of the Brandywine high grade gold/silver VMS property

➢ Drill known high grade gold/silver targets at Dave’s Pond

➢ Conduct VTEM survey on Brandywine to tie in all historic data

Looking Forward – Blue Sky & Beyond

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Graeme O’NeillCEOEmail: go@bayhorsesilver.comMobile: (604) 790-9193

Head Office2501-4398 Buchanan StreetBurnaby, British Columbia Canada, V5C 6R7

Tel: 1 (604) 684-3394Fax: 1-888-684-0586Email: company@bayhorsesilver.comWebsite: www.bayhorsesilver.com

Contact