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Private Placement Financing

Vancouver, British Columbia--(Newsfile Corp. - October 27, 2022) - BAROYECA GOLD & SILVER INC. (TSXV: BGS) (the "Company") is pleased to announce that it has agreed to a $2,000,000 non-brokered private placement of up to 20,000,000 units of its securities (the "Units") at a price of $0.10 per Unit, each Unit consisting of one common share and one non-transferable share purchase warrant, with each such warrant entitling the holder to acquire one additional common share of the Company at a price of $0.20 per share for a period of two years. The Company may pay fees in cash and/or securities in connection with this financing.

The proceeds from the private placement will be used for exploration and operating expenses for its Colombian properties, property purchase payments, corporate administration and general working capital.

The private placement is subject to acceptance for filing by the TSX Venture Exchange.

BAROYECA GOLD & SILVER INC.

Per: "Richard Wilson"
Richard Wilson, CEO

FOR INFORMATION CONTACT:

Rick Wilson - (604) 351-3599

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/142090