Vancouver, British Columbia--(Newsfile Corp. - September 1, 2021) - Blackrock Silver Corp. (TSXV: BRC) (the "Company") is pleased to announce new high-grade silver and gold drill intercepts from its core and RC drilling program on the 100% controlled Tonopah West project located in the Walker Lane trend of Western Nevada. These new results continue to demonstrate robust continuity of high-grade mineralization at both the DPB and Victor targets; additional in-fill drill results highlight world-class potential for this deposit as the Company works towards delivery of a maiden resource estimate.

HIGHLIGHTS:

• Six +1-kilogram/ tonne silver equivalent (AgEq) intercepts reported across both the DPB and Victor target areas;

• Denver vein returned 7.4 metres grading 2.0 g/t Au and 181 g/t Ag or 381 g/t AgEq including 1.5 metres grading 5.5 g/t Au and 487 g/t Ag or 1,034 g/t AgEq in TXC21-017 (AgEq=silver: gold ratio 100:1), and

• TXC21-016 returned 3.3 metres grading 2.25 g/t Au and 223 g/t Ag or 448 g/t AgEq including 0.5 metres yielding 1,046 g/t AgEq (5.52 g/t Au and 494 g/t Ag) from the Denver vein;

• Drilling on the Victor vein returned three +1-kilogram intercepts. Drillhole TW21-085 returned 1.6 metres grading 1,289 g/t AgEq (7.22 g/t Au and 577 g/t Ag); TW21-097C cut 6.5 metres yielding 456 g/t AgEq (1.94 g/t Au and 261.3 g/t Ag) including 1.6 metres grading 1,181 g/t AgEq (5.26 g/t Au and 655 g/t Ag) and another intercept returning 8.1 metres grading 300 g/t AgEq (1.07 g/t Au and 192.9 g/t Ag);

• The Victor/Murray vein also returned 1.7 metres grading 1,053 g/t AgEq (3.93 Au and 660 g/t Ag) in the Victor target;

• Mine Development Associates, a division of RESPEC, have been engaged and will soon commence work on delivering a maiden resource estimate on the DPB target at Tonopah West; and

• The DPB in-fill drill program is on track for completion at the end of September. Assays for 32 drillholes are currently pending.

"The many high-grade intercepts reported today are precisely what we want to be seeing as in-fill drilling ties together continuity of the substantial footprint of silver and gold mineralization we've encountered throughout the target area, which now evidences significant size potential," noted Andrew Pollard, President & CEO of Blackrock Silver. "As we near the completion of the resource definition program in support of our maiden mineral resource estimate at DPB, Mine Development Associates have been engaged to commence work on the study. With 84,000 metres of continuous drilling completed in just over one year, Tonopah West has become the most active silver exploration project in North America. Four drills are turning at the project, and with assays for 32 completed drillholes pending, we look forward to a very active fall season with continuous drill results expected that shall form the basis for our maiden resource estimate due out by the first quarter of 2022. Drilling at Victor continues to define significant upside at the project, over and beyond what will be included within our maiden resource, highlighting clear standalone potential for this target area," remarked Pollard.

Table 1: Summary of significant Au and Ag assay results using a 200 g/t AgEq cut-off grade.

DPB Target

Core drilling continues to deliver world-class silver and gold intercepts with infill results now demonstrating robust continuity of high-grade mineralization throughout the DPB target area. The area hosts six veins with a cumulative high-grade strike in excess of 4 kilometres over significant widths and mineralized shoots measuring several hundred metres vertically.

The Denver vein continues to deliver intercepts along strike and down dip. Core holes TXC21-016 and -017 returned wide zone of high-grade gold and silver. TXC21-016 cut the Denver vein at 477.4 metres and returned 3.3 metres grading 448 g/t AgEq (2.25 g/t Au and 222.7 g/t Ag) including a 0.5 metre zone with 1046 g/t AgEq (5.52 Au and 494 Ag). Core TXC21-017 cut the Denver vein higher and returned 7.4 metres grading 381 g/t AgEq (2 g/t Au and 180.6 g/t Ag) including a 1.5 metre zone of 1,034 g/t AgEq (5.46 g/t Au and 487.3 g/t Ag).

Core hole TXC21-015 also intersected the Denver, Mule and Paymaster veins, with an intercept above the 200 g/t AgEq cut-off encountered in the Paymaster vein with 479 g/t AgEq (2.19 Au and 260 g/t Ag) over 1.3 metres. Two previously unknown veins were also cut and returned 1.4 metres grading 198.8 g/t AgEq (0.78 g/t Au and 120.5 g/t Ag) and 1.0 metres grading 537 g/t AgEq (2.4 g/t Au and 297 g/t Ag).

TXC21-007 intercepted the Merton vein which was 2.4 metres thick, but the intercepts were below the reported cut off grade. Similarly, TXC21-013 intersected the Denver vein with three intercepts ranging from 1.2 to 1.5 metres thick.

Following up on the exciting results from drillhole TX21-006, which cut 7.281 g/t gold and 511 g/t silver over 3.5 metres (which included 21.86 g/t gold and 1,355 g/t silver over 0.9 metres) on the Bermuda vein, drilling along strike is progressing at this time with six drillholes either in progress or with assays pending - TXC21-022, -023, -024, -031, -032 and -033.

Assays are pending for 22 core holes and 10 RC drillholes. The project has three core drills and one RC drilling operating 24 hours per day, 7 days per week. The proposed DPB in-fill drill program is on track for completion at the end of September. Assay results have slowed to a 10 week turn-around time from the date submitted. The Company ships samples weekly from Tonopah to the assay lab in Sparks, Nevada.

More than 84,000 metres of drilling has been completed since June 15, 2020, and a total of approximately 57,000 metres has been completed year-to-date.

The 2021 program is approximately 75% complete and is utilizing three diamond core drills and one reverse circulation drill. The core drills are focused on the DPB resource delineation while the RC drill continues to drill pre-collar holes, pull casing and drilling exploration holes on the margin of the resource evaluation area.

The DPB resource definition program consists of ~40,000 metres of diamond core drilling from 20 drill sites within this large multi-vein target. This broad multi-vein, high-grade system sits within an area measuring 800 by 800 metres. Drilling to date has identified two new veins bringing the total to six veins within the DPB. The 2021 drill program will focus on delineating a resource across this area. Mine Development Associates, a division of RESPEC, has been engaged and will soon commence work on tabulating a maiden resource estimate with delivery expected by the first quarter of 2022.

Figure 1: DPB N-S Cross Section 478050E, looking West

To view an enhanced version of Figure 1, please visit:
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Victor Target

Drillholes TW21-085, -096C and -097C show the eastern extension of the Victor veins continues for a total of 500 metres to the property boundary with Summa Silver. TW21-097C had several intercepts indicating potential for previously unknown hangingwall veins above the Murray veins. The core hole returned 8.1 and 6.5 metres grading 300.5 g/t AgEq (1.07 Au and 192.9 g/t Ag) and 455.5 g/t AgEq (1.94 g/t Au and 261.3 g/t Ag) respectively from the hangingwall veins. The Murray vein returned 1.7 metres grading 1,053 g/t AgEq (3.93 g/t Au and 660 g/t Ag) and a footwall splay had 1.6 metres grading 214 g/t AgEq (0.91 g/t Au and 122 g/t Ag).

Figure 2: Victor Target N-S Cross Section 479200E, looking West

To view an enhanced version of Figure 2, please visit:
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Figure 3: Plan map of significant Intercepts

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Table 2: Drillhole location information for drillholes in this news release

All sampling is conducted under the supervision of the Company's project geologists, and a strict chain of custody from the project to the sample preparation facility is implemented and monitored. The core and reverse circulation samples are hauled from the project site to a secure and fenced facility in Tonopah, Nevada, where they are loaded on to American Assay Laboratory's (AAL) flat-bed truck and delivered to AAL's facility in Sparks, Nevada. A sample submittal sheet is delivered to AAL personnel who organize and process the sample intervals pursuant to the Company's instructions.

The core, reverse circulation, and QA/QC samples are crushed and pulverized, then the pulverized material is digested and analyzed for Au using fire assay fusion and an Induced Coupled Plasma (ICP) finish on a 30-gram assay split. Silver is determined using five-acid digestion and ICP analysis. Over limits for gold and silver are determined using a gravimetric finish. Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blank, lab blank or a certified standard approximately every 15^th to 20^th sample.

Blackrock's exploration activities at the Tonopah West Project are being conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock Silver Corp. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

Town Hall Webinar

Blackrock Silver is hosting a live town hall webinar on Tuesday, September 21^st at 11 am Pacific, including a presentation and investor Q&A with management.

To register please visit: The Silver Queen's Maiden - 6ix

About Blackrock Silver Corp.

Blackrock is a junior precious metals exploration company that is on a quest to make an economic discovery. Anchored by a seasoned Board, the Company is focused on its Nevada portfolio of properties consisting of low-sulphidation epithermal gold & silver projects located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

For further information, please contact:

Andrew Pollard, President & CEO
Blackrock Silver Corp.
Phone: 604 817-6044
Email: andrew@blackrocksilver.com

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements concern the Company's strategic plans, completion and exercise of the Tonopah option agreement, timing and expectations for the Company's exploration and drilling programs, estimates of mineralization from drilling, geological information projected from sampling results and the potential quantities and grades of the target zones. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors including the ability of the Company to complete the Tonopah lease option, the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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