Bayhorse Silver Inc. has completed six diamond drill holes totaling 2,750 feet at the Bayhorse Silver Mine in Oregon, with a seventh underway.

Underground drilling continued despite logistical challenges and delays caused by nearby wildfires. The company is submitting drill core for laboratory assay on an ongoing basis.

“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 7 th underway. Drill core is being submitted for assay on an ongoing basis, and results will be released as they are received.” — Graeme O'Neill, CEO

Bayhorse holds a 100% interest in the historic asset, which hosts an inferred resource of 292,300 tons grading 21.65 opt silver for 6.3 million ounces.

Alongside the underground program, the company is advancing its permitting application. Bayhorse is working with independent consultant Haley & Aldrich to coordinate technical work. The permitting authority, DOGAMI, is processing a resubmitted application for up to eight surface drill pads on previously disturbed areas.

The planned surface drilling targets an area 136 metres north of the portal where groundwater test well MW-2 intersected 3 metres grading 29.29 opt silver. Drilling from south to north will test structural orientation, width, dip and depth across east-west trending mineralization.

Permitting requirements include a 12-month baseline groundwater testing program consisting of four intervals. The first test occurred in January, with the final test scheduled for late 2026. Haley & Aldrich will use the data to produce a groundwater baseline report supporting the final operating permit application.

Bayhorse has extracted a permitted 25-ton bulk sample, pre-screened into plus 8 mm and minus 8 mm fractions. Samples have been submitted for assay and geochemical testing to support the permit.

The mine features a 40 ton-per-hour Steinert Ore-Sorter designed to separate mineralized material from waste rock, reducing processing waste by up to 85%. Rejects undergo acid-base accounting assessments before storage. Sorted material and fines are intended for processing at the company's flotation mill in Payette County, Idaho.

Elsewhere in the district, Paramount Gold Nevada Corp. received BLM approval of its Plan of Operations for the Grassy Mountain project on September 2, 2026, sharing silver as a commodity with the Bayhorse project.

Read the full announcement: Bayhorse Silver Operations Update