Bayhorse Enters into Agreement to Rent Ore-Sorter to Canadian Critical Minerals Inc.

Rhea-AI Summary

Bayhorse Silver Inc. enters into an agreement to rent its Steinert KSS100 Ore-Sorter to Canadian Critical Minerals to upgrade their mineralized stockpile. Bayhorse plans to use the rental revenue to offset operating costs during the halt in production at the Bayhorse Silver Mine. The company may also use the funds to drill its Brandywine high-grade gold/silver property.

Vancouver, British Columbia--(Newsfile Corp. - October 17, 2023) - Bayhorse Silver Inc, (TSXV: BHS) (OTCQB: BHSIF) (FSE: 7KXN) (the "Company" or "Bayhorse") reports that it has entered into an Agreement to rent its Steinert KSS100 Ore-Sorter to Canadian Critical Minerals ("CCMI") to allow CCMI to upgrade their approximately 180,000 ton run of mine mineralized stockpile at its Bull River Mine, near Cranbrook, BC.

CCMI has issued a news release announcing an agreement to ship up to 90,000 tons of sorted, upgraded copper/gold mineralized material to the New Afton Mill, near Kamloops, BC.

Bayhorse has operated its Ore-Sorter effectively since 2018 to increase grade and reduce the volume of mineralized material for processing at its Bayhorse Silver Mine flotation mill, thus reducing mill operating costs. The Steinert X-Ray Transmissive Ore-Sorter has proven to be a very effective technology for reducing milling operating costs by reducing waste rock from the mineralized processing stream.

Bayhorse has determined it is in its best interests to utilize its currently idle Ore-Sorter in this manner to generate revenue to the Company to offset operating costs while the Bayhorse Silver Mine production is temporarily halted during the ongoing Operating Permit Application. Bayhorse is investigating establishing the Ore-Sorter for use as a mobile unit, as there are prospective mines within 150 miles of its processing facility in Payette, Idaho, that could utilise such a facility and create additional feed sources for it.

The Company may use a portion of the funds received for the rental to drill its readily accessible and fully permitted Brandywine high grade gold/silver property, 14 km South of Whistler, BC, Canada.

In 2021, the Company conducted a QA/QC program on the 2010 Brandywine drill core that had been kept in secure storage. at Brandywine. Assays on the core, that included metallic screen assays due to the presence of visible gold in the core, returned 3.1 meters of 11.42 g/t gold in hole BRW05 at a depth of between 25.5 meters and 29.6 meters, including 1 meter of 20.2 g/t gold, and in BRW06, 3.1 meters of 3.35 g/t gold at a depth of between 32.6 and 35.7 meters, including 1 meter of 4.3 g/t gold.

The Company is in the process of completing a groundwater study at the Bayhorse Silver Mine as one of the last baseline study deficiencies required to complete the Operating Permit Application for the Bayhorse Silver Mine, Oregon. to Oregon's Department of Geological and Mineral Industries ("DOGAMI").

All costs to mobilize the Ore-Sorter to CCMI's Bull River Mine and re-establish it at the Bayhorse Mine on completion of the rental will be borne by CCMI.

This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its content. Mark Abrams, CPG, a Qualified Person and consultant to the Company has prepared, supervised the preparation of, and approved the geotechnical content of this press release.

On Behalf of the Board.

Graeme O'Neill, CEO
866-399-6539, 604-684-3394

About Bayhorse Silver Inc.

Bayhorse Silver Inc. is an exploration and production company with a 100% interest in the historic Bayhorse Silver Mine located in Oregon, USA. With state of the art Steinert Ore-Sorting technology reducing waste rock entering the processing stream by up to 85%, we have created a minimum environmental impact facility capable of mining 200 tons of mineralization per day and the ability to process and supply 3,600 tons per year of silver/copper/antimony concentrate ranging between 7,500 to 15,000 g/t using standard flotation processing at its milling facility in nearby Payette County, Idaho, USA, with an offtake agreement in place with Ocean Partners UK Limited. The Company also has an option to acquire an 80% interest in the Brandywine high grade silver/gold property located in B.C. Canada. The Company has an experienced management and technical team with extensive mining expertise in both exploration and building mines.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/184281

FAQ

What is Bayhorse Silver Inc. renting?

Bayhorse Silver Inc. is renting its Steinert KSS100 Ore-Sorter.

Who is Bayhorse Silver Inc. renting the Ore-Sorter to?

Bayhorse Silver Inc. is renting the Ore-Sorter to Canadian Critical Minerals.

How will Bayhorse Silver Inc. use the rental revenue?

Bayhorse Silver Inc. plans to use the rental revenue to offset operating costs during the halt in production at the Bayhorse Silver Mine.

What other use does Bayhorse Silver Inc. have for the funds received?

Bayhorse Silver Inc. may use a portion of the funds received to drill its Brandywine high-grade gold/silver property.