M&I conversion drilling within southern end of DPB area expands and confirms high-grade continuity of gold and silver in the shallowest portion of the resource area

Highlights

• TXC24-087 returned 2.59 metres of 3,744 grams per tonne  silver equivalent  (1,920.93 g/t silver and 20.26 g/t gold), including 1.07 metres of 8,514.5 g/t AgEq ( 4,328 g/t Ag and 46.5 g/t Au)

• TXC24-101 returned 1.28 metres of 1,286 g/t AgEq (687 g/t Ag and 6.56 g/t Au)

• TXC24-092 returned 3.35 metres of 952.6 g/t AgEq (470.56 g/t Ag and 5.35 g/t Au), in addition to 1.13 metres of 1,156 g/t AgEq (534 g/t Ag and 6.9 g/t Au)

• TXC24-100 returned 2.26 metres of 898 g/t AgEq (530.30 g/t Ag and 4.08 g/t Au), including 0.92 metres of 1,587.1 g/t AgEq (943 g/t Ag and 7.15 g/t Au)

Blackrock Silver Corp. (TSX-V: BRC) (OTCQX: BKRRF) (FSE: AHZ0) is pleased to announce initial assay results from its fully-funded 2024 drill program (see news release dated July 30, 2024) at the Company’s Tonopah West project located within the prolific Walker Lane trend in Esmeralda and Nye Counties adjacent to the town of Tonopah, Nevada, USA.

The Company’s 2024 drill campaign on Tonopah West, which commenced in late July 2024, includes an in-fill drilling component with a goal to upgrade and expand the shallowest portion of the DPB resource area from inferred mineral resources to measured and indicated mineral resources and an exploration component that is targeting expansion potential across a one kilometre trend of vein corridor linking the DBP and the NW step out resource areas.

The drilling utilized a reverse circulation drill to complete pre-collar drillholes to various depths and then core tails to drill through the modelled target zones in DBP and the Northwest step out areas. Initial results from the M&I Conversion Program at DPB show continuity of the high-grade gold and silver as demonstrated by the results in Table 1 below.

Andrew Pollard, the Company’s President and CEO, stated, “As we seek to de-risk our ounces through the early years of anticipated production at Tonopah West, initial results from our M&I Conversion Program not only establish exceptional continuity of high-grade mineralization, but have also been successful in stepping out beyond the existing resource envelope identifying significant near-surface expansion potential at higher-than-average grades. Multiple intercepts exceeding 1 kg/t AgEq were reported, including our highest-grade interval at Tonopah West to date of 1.07 meters at 8,514.5 g/t AgEq (4,328 g/t Ag and 46.5 g/t Au). These findings bolster our confidence in the model presented in our recent preliminary economic assessment and suggest the possibility of shortening the pre-production development timeline as we track high-grade gold and silver mineralization closer to the surface. An additional 6 drillholes have been added to our M&I Conversion Program targeting the high-grade chute identified in TXC-24-087. The drills are slated to remain at site well into the new year, with additional drillholes to be added as new targets continue to emerge”

Table 1: Tonopah West Drillhole Assays above 190 gpt AgEq

Drillholes TXC24-087, -090, -091, -100 and TXC24-101 define a new high-grade gold and silver chute that has a direction of azimuth 320° to 330° and a pitch of 32° along the Merton/Bermuda high-grade vein system. The length of the high-grade ore chute is approximately 175 metres but open to the NW and SE. TXC24-092 is the start of another high-grade chute suggesting periodicity of the high-grade gold and silver along the strike of the vein system. The high-grade appears to have a 105 metres cyclicity. More work is required to understand the high-grade chutes, orientation and periodicity.

Figure 1: TXC24-087 core showing high-grade gold and silver interval

Drillholes showing NVACO in Table 1 are mineralized; however, silver equivalent values are less than the 190 AgEq cut off. Veins identified in these drillholes show the vein are mineralized with lower grade gold and silver. Gold values range from 0.096 g/t to 0.734 g/t Au and silver values range from 4.2 g/t to 37.7 g/t Ag and AgEq between 7.8 and 134.4 g/t AgEq. These values assist with modelling the veins and their orientation and geometries.

TXC24-079, -089 and 090 encountered voids in the drilling. The voids are the result of fault fractures and potentially old workings. The cavities were between 2 to 6 metres in width. The larger cavity caused TXC24-090 to be terminated prematurely.

The drill program is completing 2 to 3 core tails per week with lab turn around at roughly 6 to 8 weeks, with 30 drillholes completed to date. Many drillholes have pending assays which will be released as batches through the fall and winter months.

Figure 2: Drillhole location map of the DPB in-fill area showing drillholes discussed in the news release

Table 2: Tonopah West Drillhole Location Coordinates (based on GPS readings in the field, Datum UTM, NAD 1927, Zone 11)

Quality Assurance/ Quality Control

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 RC and core 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 sheets are delivered to AAL personnel who organize and process the sample intervals pursuant to the Company’s instructions.

All core is cut using core saws at AAL’s facility according to the Company’s instructions delivered with each core hole. The RC and core samples, and QA/QC samples are crushed and pulverized, then the pulverized material is digested and analyzed for gold using fire assay fusion and an Induced Coupled Plasma (ICP) finish on a 30-gram assay split (FA-PB30-ICP). Silver is determined using five-acid digestion and ICP analysis (ICP-5AM48). Over limits for gold and silver are determined using a gravimetric finish (GRAVAU30 and GRAVAG30). Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blanks, lab blanks or a certified reference material approximately every 15th to 20th sample.

Qualified Persons

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

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.