INVESTOR PRESENTATION – DEC 2019 TSX.V: BHS
Cautionary Note 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 on a feasibility study of mineral reserves demonstrating economic and technical viability, and advises there is an increased uncertainty and specific economic and technical risk of failure with any production decision. These risks include, but are not limited to, (i) a drop in price of commodities produced, namely silver, copper, lead and zinc, from the pricing used to make a production decision; (ii) failure of grades of the produced material to fall within the parameters used to make the production decision; (iii) an increase in mining costs due to changes within the mine during development and mining procedures; and (iv) 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 are reasonable, 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 2 TSX.V: BHS
Experienced Management and Board ➢ 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 Graeme O’Neill, developed barite mine close to Teck’s Trail Smelter that was sold to a European interests CEO ➢ 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 Rick Low, ➢ As CFO of Jinshan Gold, a Friedland Company, which subsequently sold to Chinese interests, he oversaw the finance and CPA, CA, B.Comm accounting function for a gold mining project during its progression from exploration, feasibility, construction and development President & CFO through 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 Donna Maroney, public companies ➢ As president of a corporate services company, she assists public companies in maintaining compliance demands, as well as keeping Corporate Secretary them 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. James Walker, Ministry of Defence, responsible for engineering and construction projects totaling over $240M. MSc. CEng, ➢ holds degrees in Mechanical Engineering, Mining Engineering and Nuclear Engineering as well as qualifications in Project Director 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 John Cerenzia, Simberi Gold Corporation, a TSX-V company with mineral exploration properties located in Papua New GuineaWestern Australia CIM ➢ Consultant to a number of public companies and is a former Systems Business Analyst with the Ontario Ministry of Transportation Director ➢ Mr. Cerenzia is a graduate of the Canadian Institute of Management (CIM) ➢ Strong financial background with considerable experience with junior resource companies Corey Klassen, ➢ Currently director of two public companies Director ➢ Has been a director of Bayhorse Silver for 10 years 3 TSX.V: BHS
Advisors & Consultants ➢ Professional Geologist in the Province of Ontario, Canada with substantial experience in managing public ADVISORY BOARD companies, including Crown Resources, where he developed the Buckhorn Gold Mine in WA as an open pit Dr. Stewart A. Jackson 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 P.Geo. from the University of Toronto, and a Ph.D in Stratigraphy and Economic Geology from the University of Alberta INDEPENDENT NI 43-101 CONSULTANTS ➢ Member of several scientific and professional organizations and has authored several geological papers Dr. G. E. Ray, ➢ Worked as a field and economic geologist for 44 years with major and junior exploration companies, including P.Geo., CA, B.Comm 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 Geoscience Ltd., ➢ APEX has offices in Canada, and globally; extensive experience in resource modelling M.Dufresne, A. Turner et al MINING CONSULTANT ➢ Highly experienced Mining Engineer with 35 years of experience in all aspects of mining projects, including: Dr. William Willoughby planning and evaluations, exploration, drilling, underground and surface development, technical studies, permitting and financing. Ph.D., P.Eng. ➢ Dr. Willoughby is CEO of Cypress Resources and Caliber Minerals. Mining Engineer 4 TSX.V: BHS
Silver to Gold Ratio – Potential Mean Reversion Over the past year, the silver to gold ratio 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. 5 TSX.V: BHS
Bayhorse Silver Mine – Ready For Production Highlights ➢ 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 6 TSX.V: BHS
Bayhorse Silver Mine – Convenient Location & Infrastructure ➢ 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 ➢ Infrastructure includes our 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 7 TSX.V: BHS
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