Significant Intercepts At The Tonopah West Project

VANCOUVER - Blackrock Gold Corp. reported additional significant reverse circulation (RC) drillhole intercepts on its maiden drill program at the 100% controlled Tonopah West project located in the Walker Lane trend of Western Nevada. Highlights: Drillhole TW20-017 has delivered the highest-grade intercept of the program to date, cutting 1.5 meters (m) of 26 g/t gold (Au) & 2,030 g/t silver (Ag), or 4,643 g/t silver equivalent (AgEq) within 3.1 meters of 14 g/t Au & 1,070 g/t Ag (2,466 g/t AgEq) on the Merton vein which is part of the DPB Target vein system. TW20-17 delivered a second significant intercept, drilling 1.5 meters of 2.8 g/t Au and 220 g/t Ag (506 g/t AgEq). Silver:gold ratio is 100:1, using a 300 g/t AgEq cut-off grade; Drillhole TW20-016 connected with a 500 meter step out along the DPB Target with multiple significant intercepts including 1.5 meters of 553 g/t AgEq (3.2 g/t Au, 232 g/t Ag), 1.5 meters of 489 g/t AgEq (4.8 g/t Au/ 5 g/t Ag), and 1.5 meters of 322 g/t AgEq (1.78 g/t Au/ 145 g/t Ag); Drillholes TW20-011, 012, 013 and 020 are pre-collars for the core tail program. Assays for the core-tail program are pending from Victor Target. The core program is testing 300 meters of strike from where TW20-001 intercepted 29 metres grading 965 g/t AgEq. This series of drillholes were pre-collared half to two-thirds of the way to the target location using an RC drill. Once hole casing is set, a core drill is employed to complete the drillholes with a "core tail"; Drill program has been expanded to 30,000 meters, and a third drill rig has been mobilized to test the Ohio Target, which represents a third historic mine on the property; and 13,700 meters in 28 drillholes have been completed to date. Assays for 16 completed drillholes have been released, delivering 14 significant & high-grade intercepts, ranging from 1.5 meters to 29 meters in thickness, with grades from 300 g/t AgEq to 4,643 AgEq. Five of those intercepts assayed at +1kg g/t AgEq.

Andrew Pollard, President and CEO, said "Management had high expectations going into our maiden round of drilling, though as initial assay results continue to roll in, it's clear we may have underestimated the project's potential. These results from the DPB Target not only continued to highlight the bonanza grades for which this historic district was renowned, but have now extended the mineralized vein corridor a further 500m along strike from where historic production shut down roughly 90 years ago. The Denver, Paymaster and Bermuda (DPB) high-grade veins that were historically mined together, represented the last producing mine in the district prior to shutting down due to low metals prices at the onset of the Great Depression. As the first group to target the historic workings, we are excited to not only confirm that high-grade mineralization remains where production left off, but more consequentially, that the system extends substantially beyond and remains open. With assays showing 14 significant intercepts from the 16 drillholes reported thus far, we're seeing tremendous leverage via the drill bit at what is just the very beginning of our maiden program at the project. With three drill rigs now at site and roughly 30,000 meters of drilling planned through the end of the year, we are focused on expanding the footprint of known mineralization while we continue to enhance our understanding of the geologic model."

Drilling on the DPB Target is progressing with step-out drilling east and west of drillhole TW20-006 (4.6 meters at 1,577 g/t AgEq). Additional drill pads spaced at approximately 100 meters apart along strike will host 3 drillholes each, all oriented in a southerly direction to cut the veins up and down dip. The DPB Target has significant tonnage and expansion potential based on drilling to date.

A second intercept has been returned from the Merton vein on the south side of the DPB Target. Drillhole TW20-017 cut 3.1 meters of 2,466 g/t AgEq and is one of the highest grade intercepts on the project. The mineralized intersection in TW20-017, along with the first intercept in TW20-007 (1.5 meters of 387 g/t AgEq), confirm a minimum strike extent of 120 meters on the Merton vein.

A significant development at the DPB Target is the intersection of good grade gold mineralization in drillhole TW20-016. TW20-016 is 500 meters west of the drill pattern. The drillhole intersected three zones of mineralization, and these zones are slightly different than previous drill intercepts in that they are rich in gold versus silver. The high-grade gold drill intercepts could be related to a second, younger gold system.

Two additional step out drillholes, TW20-014 and TW20-015, were completed 800 meters to the west of the main DPB Target. The drillholes encountered weak Au and Ag mineralization; however, in TW20-014, the critical West End Rhyolite unit was missing or faulted out from the volcanic package. In TW20-015, the West End Rhyolite was present and weakly mineralized. Additional geologic work is needed to find the extension of the vein zones 800 meters to the west.

A third RC drill rig has arrived to initiate planned drillholes at the Ohio Vein Target. Drilling is targeting the off-set portion of the flat-lying Ohio and West End veins. Four drillholes are planned at Ohio, then the drill will move to the western end of the DPB Target to follow up on drillhole TW20-016. At the Victor Target, roughly 800 meters to the east of DPB, core drilling is progressing with seven holes planned and five completed. Assays for the core program are pending at this time. Victor Target is testing approximately 300 meters of potential strike along the Murray/Victor vein complex.