Multiple High-Grade Gold & Silver Intercepts At Victor Target

VANCOUVER - Blackrock Gold Corp. reported multiple high-grade gold and silver core intercepts at its Victor Target on the 100% controlled Tonopah West project located in the Walker Lane trend of Western Nevada.

At the Victor Target, a high-grade, multi-vein gold and silver zone has been drill-defined within an area 210 by 150 meters, and remains open to the west and down dip. Drillhole TW20-020C encountered 19 g/t gold and 1,634 g/t silver (3,534 g/t AgEq) over 0.9 meters near its target destination; however, it was abandoned at historic mine workings. Drillhole TW20-031C cut 2.9 meters grading 1081 g/t AgEq; this intercept potentially represents a new vein system to the north of the Victor Target. This intercept connects with drillhole TW20-021C which hit 3.0 meters of 785 g/t AgEq. The two drillholes are separated horizontally by190 meters. 24,000 meters in 48 drillholes are completed to date. Assays for 24 drillholes have been released, delivering 22 significant and high-grade intercepts ranging from 1 to 29 meters in thickness, with grades from 300 to 4,643 g/t AgEq. Sixteen intercepts have assayed at +500 g/t AgEq, with seven assayed at +1,000 g/t AgEq; and Assays from the Ohio, DPB, and Victor Targets are pending at this time.

Andrew Pollard, President & CEO, said, "We continue to hit absolutely phenomenal grades with our drilling as the mineralized zone at Victor Target expands, and a new high-grade vein zone has been identified. As the first group to target this historic mine since production shut down in 1930 due to low metals prices, we have refined our geologic model of the thick mineralized structure encountered in drillhole TW20-001 (29 meters grading 965 g/t AgE) and now believe the mineralized structure dips at a steeper angle than previously anticipated. We see significant expansion opportunities at this target, as we do our best to "thread the needle" around the historic workings with the drillbit to hit this structure down-plunge. In addition, with the large Pittsburg-Monarch fault encountered on the western extent of this significant, multi-vein, drill-defined zone, we also see significant expansion potential to the west should we be successful in targeting the offset vein system. With a number of completed drillholes pending assays from multiple target areas, we expect continuous news-flow through the end of the year."

Drilling at the Victor Target has encountered high-grade mineralization within a defined area of 210 meters by 150 meters. The objective is to offset the down-dip and down-plunge extensions of the gold and silver zone that was last mined in 1930 and find the off-set portion of the mineralized body to the west on the footwall of the Pittsburg-Monarch fault.

The drillholes have intersected significant gold and silver grades in the hangingwall of the fault. The gold and silver occur along the contact with the West End Rhyolite and the Extension Breccia, and the orientation of the contact is approximately 45 degrees but rolls to a steeper angle down dip and to the north. Drilling is complex, as historic workings in the upper levels interfere with access to the steeper portions of the body. As our model continues to refine, so will the targeting.

Drillholes TW20-011C and -013C encountered the Pittsburg-Monarch fault before the mineralized contact. They show no significant values on the footwall of the fault at that location. TW20-012C clipped a portion of the mineralized zone just before drilling through the fault.

TW20-020C was lost at 593 meters after encountering a historic underground working. TW20-024C hit a major fault and an extremely broken zone where the barrel and bit twisted off. Because the tools were left in the hole, it could not be advanced, and the hole was terminated.

TW20-021C is located 210 meters northwest and TW20-031C is located 150 meters northeast of TW20-001. The area in between these three holes shows potential for significant grade and new vein discovery. The intercept at TW20-021C, 3.0 meters of 785 g/t AgEq, is extremely exciting, as it may represent a new vein system to the north of Victor Target. This may be an extension of the intercept cut in TW20-031C, 2.9 meters grading 1081 g/t AgEq.

TW20-051C was lost at 104 metres due to swelling clays at the top of the drillhole within the Mizpah andesite. A second core hole in this area, TW20-061C, is currently underway.

Drilling in the DPB zone continues, with an additional 15 drillholes completed. Two holes were drilled as follow-up on TW20-016 step-out hole. Assays are pending.

All sampling was conducted under the supervision of the Company's project geologists, and a strict chain of custody from the project to the sample preparation facility was implemented and monitored. The core samples were hauled from the project site to a secure and fenced facility in Tonopah, Nevada, where they were loaded on to American Assay Laboratory's (AAL) flat-bed truck and delivered to AAL's facility in Sparks, Nevada. A sample submittal sheet was delivered to AAL personnel who organized and processed the sample intervals pursuant to the Company's instructions. Blackrock personnel inserted standards and blanks into the sample sequence every 15 to 20 samples.