Bayhorse Silver Inc. advises that Saturn Minerals Inc. reports that it has "spudded in" its first oil well on its approximately 250 square mile Bannock Creek light crude oil prospect in Saskatchewan's Williston Basin.
Bayhorse president & CEO, Graeme O'Neill, comments that "with WTI crude oil currently trading at US$61 barrel and projected costs of approximately C$25 barrel, a successful conventional oil well should also positively affect the prospects for the nearby approximately 400 square mile Little Swan oil prospect that Bayhorse is farming in on from Saturn."
Bayhorse Silver Inc. is a junior exploration company that has entered into a Farm-In Agreement with Saturn Minerals to acquire a 25% interest in the Little Swan oil project, and is earning an 80% interest in the historic Bayhorse Silver Mine that has the potential for a substantial silver discovery. It has a 100% interest in its three major high grade New Zealand gold prospects (Alexander River, Paparoa and Red Queen), in the highly prolific West Coast South Island gold fields of New Zealand, which offers investors the potential for a major gold discovery.
The Company has a 30% Net Profit Interest in the Flagstaff barite mine in Washington State. The Company has an experienced management and technical team with extensive exploration expertise. This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents.