Blackrock Silver Corp. (TSX-V: BRC) is pleased to announce new high-grade silver and gold drill intercepts from its core and RC drilling program on the 100% controlled Tonopah West project located in the Walker Lane trend of Western Nevada. These new results continue to demonstrate robust continuity of high-grade mineralization at both the DPB and Victor targets; additional in-fill drill results highlight world-class potential for this deposit as the Company works towards delivery of a maiden resource estimate.

HIGHLIGHTS:

• Six +1-kilogram/ tonne silver equivalent intercepts reported across both the DPB and Victor target areas;
• Denver vein returned 7.4 metres grading 2.0 g/t Au and 181 g/t Ag or 381 g/t AgEq including 1.5 metres grading 5.5 g/t Au and 487 g/t Ag or 1,034 g/t AgEq in TXC21-017 (AgEq=silver: gold ratio 100:1), and
• TXC21-016 returned 3.3 metres grading 2.25 g/t Au and 223 g/t Ag or 448 g/t AgEq including 0.5 metres yielding 1,046 g/t AgEq (5.52 g/t Au and 494 g/t Ag) from the Denver vein;
• Drilling on the Victor vein returned three +1-kilogram intercepts. Drillhole TW21-085 returned 1.6 metres grading 1,289 g/t AgEq (7.22 g/t Au and 577 g/t Ag); TW21-097C cut 6.5 metres yielding 456 g/t AgEq (1.94 g/t Au and 261.3 g/t Ag) including 1.6 metres grading 1,181 g/t AgEq (5.26 g/t Au and 655 g/t Ag) and another intercept returning 8.1 metres grading 300 g/t AgEq (1.07 g/t Au and 192.9 g/t Ag);
• The Victor/Murray vein also returned 1.7 metres grading 1,053 g/t AgEq (3.93 Au and 660 g/t Ag) in the Victor target;
• Mine Development Associates, a division of RESPEC, have been engaged and will soon commence work on delivering a maiden resource estimate on the DPB target at Tonopah West; and
• The DPB in-fill drill program is on track for completion at the end of September. Assays for 32 drillholes are currently pending.

“The many high-grade intercepts reported today are precisely what we want to be seeing as in-fill drilling ties together continuity of the substantial footprint of silver and gold mineralization we’ve encountered throughout the target area, which now evidences significant size potential,” noted Andrew Pollard, President & CEO of Blackrock Silver. “As we near the completion of the resource definition program in support of our maiden mineral resource estimate at DPB, Mine Development Associates have been engaged to commence work on the study. With 84,000 metres of continuous drilling completed in just over one year, Tonopah West has become the most active silver exploration project in North America. Four drills are turning at the project, and with assays for 32 completed drillholes pending, we look forward to a very active fall season with continuous drill results expected that shall form the basis for our maiden resource estimate due out by the first quarter of 2022. Drilling at Victor continues to define significant upside at the project, over and beyond what will be included within our maiden resource, highlighting clear standalone potential for this target area,” remarked Pollard.

Table 1: Summary of significant Au and Ag assay results using a 200 g/t AgEq cut-off grade.

DPB Target

Core drilling continues to deliver world-class silver and gold intercepts with infill results now demonstrating robust continuity of high-grade mineralization throughout the DPB target area. The area hosts six veins with a cumulative high-grade strike in excess of 4 kilometres over significant widths and mineralized shoots measuring several hundred metres vertically.

The Denver vein continues to deliver intercepts along strike and down dip. Core holes TXC21-016 and -017 returned wide zone of high-grade gold and silver. TXC21-016 cut the Denver vein at 477.4 metres and returned 3.3 metres grading 448 g/t AgEq (2.25 g/t Au and 222.7 g/t Ag) including a 0.5 metre zone with 1046 g/t AgEq (5.52 Au and 494 Ag). Core TXC21-017 cut the Denver vein higher and returned 7.4 metres grading 381 g/t AgEq (2 g/t Au and 180.6 g/t Ag) including a 1.5 metre zone of 1,034 g/t AgEq (5.46 g/t Au and 487.3 g/t Ag).

Core hole TXC21-015 also intersected the Denver, Mule and Paymaster veins, with an intercept above the 200 g/t AgEq cut-off encountered in the Paymaster vein with 479 g/t AgEq (2.19 Au and 260 g/t Ag) over 1.3 metres. Two previously unknown veins were also cut and returned 1.4 metres grading 198.8 g/t AgEq (0.78 g/t Au and 120.5 g/t Ag) and 1.0 metres grading 537 g/t AgEq (2.4 g/t Au and 297 g/t Ag).

TXC21-007 intercepted the Merton vein which was 2.4 metres thick, but the intercepts were below the reported cut off grade. Similarly, TXC21-013 intersected the Denver vein with three intercepts ranging from 1.2 to 1.5 metres thick.

Following up on the exciting results from drillhole TX21-006, which cut 7.281 g/t gold and 511 g/t silver over 3.5 metres (which included 21.86 g/t gold and 1,355 g/t silver over 0.9 metres) on the Bermuda vein, drilling along strike is progressing at this time with six drillholes either in progress or with assays pending – TXC21-022, -023, -024, -031, -032 and -033.

Assays are pending for 22 core holes and 10 RC drillholes. The project has three core drills and one RC drilling operating 24 hours per day, 7 days per week. The proposed DPB in-fill drill program is on track for completion at the end of September. Assay results have slowed to a 10 week turn-around time from the date submitted. The Company ships samples weekly from Tonopah to the assay lab in Sparks, Nevada.

More than 84,000 metres of drilling has been completed since June 15, 2020, and a total of approximately 57,000 metres has been completed year-to-date.

The 2021 program is approximately 75% complete and is utilizing three diamond core drills and one reverse circulation drill. The core drills are focused on the DPB resource delineation while the RC drill continues to drill pre-collar holes, pull casing and drilling exploration holes on the margin of the resource evaluation area.

The DPB resource definition program consists of ~40,000 metres of diamond core drilling from 20 drill sites within this large multi-vein target. This broad multi-vein, high-grade system sits within an area measuring 800 by 800 metres. Drilling to date has identified two new veins bringing the total to six veins within the DPB. The 2021 drill program will focus on delineating a resource across this area. Mine Development Associates, a division of RESPEC, has been engaged and will soon commence work on tabulating a maiden resource estimate with delivery expected by the first quarter of 2022.

Figure 1: DPB N-S Cross Section 478050E, looking West

Victor Target

Drillholes TW21-085, -096C and -097C show the eastern extension of the Victor veins continues for a total of 500 metres to the property boundary with Summa Silver. TW21-097C had several intercepts indicating potential for previously unknown hangingwall veins above the Murray veins. The core hole returned 8.1 and 6.5 metres grading 300.5 g/t AgEq (1.07 Au and 192.9 g/t Ag) and 455.5 g/t AgEq (1.94 g/t Au and 261.3 g/t Ag) respectively from the hangingwall veins. The Murray vein returned 1.7 metres grading 1,053 g/t AgEq (3.93 g/t Au and 660 g/t Ag) and a footwall splay had 1.6 metres grading 214 g/t AgEq (0.91 g/t Au and 122 g/t Ag).

Figure 2: Victor Target N-S Cross Section 479200E, looking West

Figure 3: Plan map of significant Intercepts

Table 2: Drillhole location information for drillholes in this news release

All sampling is conducted under the supervision of the Company’s project geologists, and a strict chain of custody from the project to the sample preparation facility is implemented and monitored. The core and reverse circulation samples are hauled from the project site to a secure and fenced facility in Tonopah, Nevada, where they are loaded on to American Assay Laboratory’s (AAL) flat-bed truck and delivered to AAL’s facility in Sparks, Nevada. A sample submittal sheet is delivered to AAL personnel who organize and process the sample intervals pursuant to the Company’s instructions.

The core, reverse circulation, and QA/QC samples are crushed and pulverized, then the pulverized material is digested and analyzed for Au using fire assay fusion and an Induced Coupled Plasma (ICP) finish on a 30-gram assay split. Silver is determined using five-acid digestion and ICP analysis. Over limits for gold and silver are determined using a gravimetric finish. Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blank, lab blank or a certified standard approximately every 15^th to 20^th sample.

Blackrock’s exploration activities at the Tonopah West Project are being conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock Silver Corp. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Blackrock Silver Corp.

Blackrock is a junior precious metals exploration company that is on a quest to make an economic discovery. Anchored by a seasoned Board, the Company is focused on its Nevada portfolio of properties consisting of low-sulphidation epithermal gold & silver projects located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.