Additional High-Grade Intercepts At the Tonopah West Project

VANCOUVER - Blackrock Silver Corp. reported additional high-grade silver and gold intercepts from its DPB in-fill core and RC step-out drilling programs on the 100% controlled Tonopah West project, located in the Walker Lane trend of Western Nevada. Step-out drilling has successfully expanded the footprint of mineralization beyond the 800 meter by 800 meter area that will form the basis for the upcoming maiden DPB resource. In-fill results continue to demonstrate continuity of high-grade mineralization and enhance the Company's understanding of the structural orientation of this growing, multi-vein system. The Tonopah West project is conveniently situated directly adjacent to the town of Tonopah, with Interstate 95 traversing the property, and the DPB resource area is entirely on patented ground.

Andrew Pollard, President and CEO, said, "With our maiden resource estimate on track for Q1, 2022, in-fill results continue to demonstrate excellent continuity of this prolific silver-gold system, while our step-out program has expanded the footprint of known mineralization across multiple veins, highlighting significant near-surface potential in the process. The Merten Vein system, already by far the largest mineralized structure we've identified on the property, continues to expand with drilling. We've completed over 80,000 meters of drilling at the project this year, and 110,000 meters since inception in June of 2020, and we believe that we've barely scratched the surface in understanding its' true potential. We're well-financed and gearing up to hit the ground sprinting in the New Year in our efforts to define just how large this system may truly be."

Drillholes TW21-088, -089 and -090 tested the east-northeast extension of the Bermuda vein system and represent a 100 meter step out to the east of the DPB resource area. Results for TW21-090 show the veins continue to the east-northeast and returned a result of 2.15 g/t Au and 67 g/t Ag over 1.5 meters (282 g/t AgEq). Results for TW21-088 and -089 are pending at this time.

Moving clockwise, TW21-098 is a 100-meter step out to the east testing the eastern extension of the Merten vein where it intersects the McKane fault zone. The drillhole intersected the McKane fault, suppling better resolution on the location and orientation of the fault.

Drillholes TW21-099, -100 and -101 are a drill array testing the up-dip portion of the Merten vein. The drill pad is located approximately 200 meters south of the DPB resource. TW21-099 shows the up-dip portion of the Merten vein has grade above cut off at 2.28 g/t Au and 0.48 g/t Ag or 232 g/t AgEq over 1.5 meters and a second intercept of 1.16 g/t Au and 127 g/t Ag or 243 g/t AgEq over 3 meters. The vein is closer to the surface and contains multiple splits and splays within 250 meters of the surface. Using a lower cut off of 31 g/t AgEq gives a result of 13.7 meters grading 0.53 g/t Au and 53.2 g/t Ag or 106 g/t AgEq starting at 215 meters down the drillhole. Additional drilling is required, but the near-surface projection of the vein system may represent a new near-surface target to pursue. Results for TW21-100 and -101 are pending at this time.

The drilling demonstrates that the Merten vein has an additional 275 meters of up dip potential. The Merten vein system is the largest mineralized featured identified to date. The vein and its accompanying hangingwall and footwall splays have 1.5 kilometers of strike and over 1,200 meters of drill-tested dip potential.

The DPB resource definition program consisted of 56,000 meters of diamond core and RC drilling from 42 drill sites within this large multi-vein target. This broad multi-vein, high-grade system sits within an area measuring 800 by 800 meters. The maiden resource estimate is on track for delivery during the first quarter of 2022.

Core hole, TXC21-020, hit significant mineralization in the Merten vein system adjacent to the 76 fault zone. The drillhole returned 2.48 g/t Au and 258 g/t Ag over 3.5 meters (500 g/t AgEq) including a 1.1 meter zone grading 4.37 g/t Au and 427 g/t Ag (864 g/t AgEq). The gold and silver values appear to thicken and increase in grade along this intersection zone.

Two RC drillholes TW21-102 and -103 were drilled on the northwestern corner of the resource area. The intention of the drillholes was to test the western extension of the Denver vein. Unfortunately, these two drillholes were located too far south and missed the targeted vein. Existing surface infrastructure, highway and RV campground, preclude locating the drills farther to the north.

TW21-104 is a 50-meter step out to the east along the Bermuda vein. While the drillhole did not return grades above the 200 g/t AgEq cut off, it did show elevated grades of gold and silver. There was enough encouragement in TW21-104 (1.5 meters grading 185 g/t AgEq (0.9 g/t Au and 94 g/t Ag) starting at 323.1 meters downhole) to complete drillholes TW21-111 and -112 to test up and down dip on the Bermuda vein.

TXC21-012 is located in the southwest portion of the DPB resource area. The core hole confirmed silver and gold along the Merten vein up dip and to the west. TXC21-012 added to 160 meters of up-dip potential on the Merten vein system.

TXC21-022, -023 and -024 were drilled into the Bermuda vein system. TXC21-022 and -023 intersected the vein and yielded values above the cut-off grade. TXC2-024 encountered the vein; however, the intercept was below the cut-off grade at 144 g/t AgEq (0.71 g/t Au and 73.2 g/t Ag).

The drill array containing TXC21-031, -032 and -033 targeted the Bermuda and Merten vein systems. TXC21-031 and -032 returned 0.5 meters grading 422 g/t AgEq and 1.5 meters grading 371 g/t AgEq respectively. Core hole TXC21-033 returned a 0.45 meter intercept of 114 g/t AgEq. The drilling confirms that the Bermuda vein continues westward.

Drillholes TXC21-034, -035 and -036 tested the western extension of the Bermuda vein system. TXC21-034 hit a 1.1 meter zone that grades 70 g/t AgEq (0.69 g/t Au and 0.48 g/t Ag) while TXC21-035 and -036 intersected the vein with values above the 200 g/t AgEq cut off. Core hole TXC21-035 drilled a 0.4 meter zone grading 506 g/t AgEq while TXC21-036 hit two zones grading 276 g/t AgEq and 212 g/t AgEq over 0.6 meters and 0.5 meters respectively. The drilling confirms the Bermuda vein extends westward past the 76 fault.

Assays are pending for 13 core holes (TXC21-037 to TXC21-049) and 12 RC drillholes (TW21-105 to TW21-116) at this time. The 2021 program is now 100% complete.

Approximately 110,741 meters has been completed since June 15, 2020, and a total of approximately 82,066 meters has been completed year-to-date including pre-collar, core and RC drilling.