Approval Received To Commence Phase One Program

VANCOUVER - Blackrock Silver Corp. has received approval from the Nevada Bureau of Land Management and finalized a drill agreement to commence its Phase-1 drill program at the Silver Cloud property. Silver Cloud is located along the prolific, high-grade Northern Nevada Rift in north central Nevada.

In January 2023, the Company confirmed its original bonanza-grade discovery intercept at the Northwest Canyon target with metallic-screen assay which returned 1.52 meters grading 70 g/t gold and 600 g/t silver in core hole SBC22-020. A severe winter in northern Nevada precluded immediate follow up on this bonanza-grade intercept. With ground conditions improving, access to Silver Cloud has now been restored and equipment can now be mobilized to the property. The Phase-1 drill program at Silver Cloud is anticipated to start in early June 2023.

Andrew Pollard, President and Chief Executive Officer, said, "This bonanza-grade gold and silver discovery at the Northwest Canyon target is a potential game-changer for Blackrock Silver and we've been chomping at the bit to get back up there with the drills ever since. After what was a very severe winter in Nevada, the snow has finally melted and access has been regained allowing us to mobilize our equipment and commence drilling in June, giving Blackrock the opportunity to finally walk this new exciting discovery forward with this fully-funded program.

The Silver Cloud property holds tremendous potential in what may be the missing link of what is one big, high-grade system. In January 2023, we reported the highest-grade intercept we've had as a Company in making this new discovery, intersecting 1.52 meters grading 70 g/t gold and 600 g/t silver in core hole SBC22-020 in Northwest Canyon. Based on the historic drill data which has assays of 5.61 g/t gold over 12.2 meters, the Company believes the vein could extend up to 2 kilometers along a north-northwest orientation. This Phase-1 program will test an initial 500 meters of that strike potential."

The initial Phase-1 program will commence with 2,200 meters of drilling for approximately 500 meters of strike along the Northwest Canyon vein projection. The vein does not outcrop at the surface and is hosted within the porphyritic Silver Cloud Rhyolite volcanic unit. Based on data from previous historic drilling in the target area, including a drill intercept in SCP-15 of 12.2 meters grading 5.61 g/t gold, the Company believes the vein could have as many as 2 kilometers of strike length along a north-northwest orientation.