Tonopah West Additional High-Grade Silver-Gold From M&I Conversion Drilling Program

VANCOUVER - Blackrock Silver Corp. reported on the second set of assay results from the M&I Conversion Program on the Tonopah West project located within the Walker Lane trend in Esmeralda and Nye Counties adjacent to the town of Tonopah, Nevada.

The Company is completing an in-fill drilling campaign (the "M&I Conversion Program") consisting of forty drillholes within the shallow southern portion of its' DPB resource area with an aim to convert up to 1.5-million tonnes of material to the measured and indicated mineral resource category, with the drillhole pattern being implemented on 25-metre centers. This area represents the initial years of proposed production based on the mine plan laid out in the Company's recently announced preliminary economic assessment for Tonopah West.

The M&I Conversion Program commenced in late July pursuant to which the Company has completed 32 of the planned 40 drillholes. An additional 6 core holes from surface have been added to the M&I Conversion Program to follow up on high-grade intercepts encountered in TXC24-087. Pursuant to the M&I Conversion Program, a total of 10,283 metres (33,737 ft) of drilling have been completed to date and the Company has received assays for 27 of the 34 drill holes completed.

Andrew Pollard, President and CEO, stated, "Multiple high-grade zones are emerging on our Merten vein system as additional results from our ongoing M&I Conversion Program continue to increase confidence in our model. Near surface mineralization has been tracked from 137 metres down to 367 metres downhole, with each distinct zone delivering intercepts beyond 2,000 g/t AgEq while establishing exceptional continuity along the vein. Additional high-grade mineralization has been identified up-dip which appears to connect to a once thought isolated zone to the east (TW21-076: 4.6 metres grading 510 g/t AgEq). The M&I Conversion Program is targeting up to 1.5 million tonnes of material for potential conversion. Additional drillholes are being added to this fully-funded program to follow up on TW21-076. Drills are poised to remain at site through the end of the year and into Q1 2025, and with many completed drillholes pending assays, we expect to finish 2024 on a strong note."