Blackrock Silver Corp. (TSX-V: BRC) announces gold and silver drill intercepts from its 2020 winter drill program on its 100% controlled Silver Cloud project located along the Northern Nevada Rift in North Central Nevada.

HIGHLIGHTS:

• At the Northwest Canyon Target drillhole SBR20-007 intersected a significant amount of gold mineralization suggesting the east-west zone continues but the high-grade portion may be off set along a NNW to NS fault;
• Drillholes in the NE Veins target were unable to reach the desired lithologies, which aimed to target the volcanic-sediment unconformity, though due to a thicker than modelled volcanic rock package and limited range on the track RC drill, ultimately the Hollister-type target was left untested; and,
• Significant gold mineralization was encountered in the Quiver target which requires and warrants additional follow up drilling.

Twelve reverse circulation drillholes were completed in Blackrock Silver’s Silver Cloud project between November 10^th and December 19, 2020. A total of 3,774 metres (12,381 feet) was drilled within three main targets on the Company’s claim block in the historical Silver Cloud Mercury District. A Boart Longyear track reverse circulation drill rig was utilized.

This drill program was designed to test multiple target areas through the 45 square kilometre project including Northwest Canyon, Northeast Veins area that lays directly adjacent to Hecla’s Hollister Mine (Ag, Au), and the Quiver area in the northwest portion of the project area. Targets consisted mainly of testing surface exposures of banded chalcedony veins. These veins have never been drill tested before.

The 1650 metre RL (5,500-foot elevation) was the main target horizon because that horizon hosts high-grade ore shoots at the Midas and Hollister mines of which Silver Cloud is on-trend. Other targets were geophysical gravity anomalies that were defined in early 2020.

Andrew Pollard, President & CEO commented, “The purpose of this program was to test primarily new prospective areas throughout this expansive, target-rich property, with the aim to provide us with the crucial data to refine a focused campaign on prioritized areas. The bulk of this drill program was designed to target the newly delineated NE Veins area of the property that sits directly adjacent to Hecla’s Hollister vein system, where 8 veins had been mapped outcropping at surface, atop a large geophysical and geochem anomaly. Drilling revealed the volcanic rock package in this previously undrilled area was significantly thicker than modelled, and due to the limited range of the track-mounted RC rig, we were unable to hit the targeted structures within the sediment rocks beneath the volcanics. This area remains highly prospective and has yet to be truly tested. At our Quiver target, the Company is extremely encouraged by the wide swaths of good grade gold encountered along the eastern margin of what is projected to be the Silver Cloud graben, that shares many similar structural characteristics of the nearby Midas mine, of which this area lines up directly on trend. The recent discovery announced by Hecla on their Green Racer Sinter target (see Hecla Mining news release February 18, 2021), two miles east of Midas highlights the prospectivity and multi-ounce grade potential of which the Northern Nevada Rift is renowned.”

Table 1: Summary of significant Au and Ag assay results using a 0.20 gram per tonne Au cut-off grade

True thickness unknown. NSV = No Significant Values

NW CANYON

Drillhole SBR20-007 was completed in the NW Canyon target. The drillhole was oriented to explore for the western extension of a mineralized east-west vein system previously intersected in drillholes SBR19-002 and SBR19-003. SBR20-007 intersected a significant amount of gold mineralization suggesting the east-west zone continues, but the higher grade may be off set along a fault. SBR20-007 did not intersect the rhyolite porphyry which also suggests it is off set along the fault. Past drilling shows higher grade gold is along the margin of the porphyry.

NE VEINS

Eight drillholes were completed in the NE Veins target; however, none of the drillholes cut the volcanic-sediment unconformity which is host to the Hollister mineralization located 3 kilometre to the east. As a result, the initial target has not been tested and follow up work is required to understand the full potential of the target area.

QUIVER

Three drillholes were completed in the Quiver target. Drillhole SBR20-017 intersected a significant thickness of gold mineralization immediately adjacent to a major NNW fault system which was defined in the gravity data and may be the eastern margin of the Silver Cloud graben.

Hecla’s recent work at Midas shows immense potential in a similar geologic setting. Based on these positive results, additional exploration work is warranted.

Drillhole Location Map Silver Cloud Project

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 reverse circulation samples are hauled from the project site to a secure and fenced facility in Battle Mountain, 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 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 Silver Cloud 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 silver-focused 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 on the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.