BlackRock Silver Announces $3 Million Acquisition Financing

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Vancouver, British Columbia–(Newsfile Corp. – January 17, 2024) – Blackrock Silver Corp. (TSXV: BRC) (“company” or “black rock“) is a syndicate of underwriters (collectively “underwriter“), the underwriters have hereby agreed to purchase 15,000,000 units of the Company for resale (each, “unit“) Priced at CAD 0.20 per unit (“Offering price“) on an “acquisition transaction” basis for an aggregate amount of CAD 3,000,000 (“Recruitment“).

Each unit consists of one common share of the Company (each “common stock“) and one-half of one common stock purchase warrant (each entire warrant, “)warrantEach whole warrant entitles the holder to purchase one common share of the Company at a price of C$0.30 at any time up to 36 months after the closing date of the offering.

The Company has granted the underwriters an option, exercisable at the offering price, for a period of 30 days from and including the closing date of the offering, to resell up to an additional 15% of the number of units sold under the offering. It can be purchased for the purpose. We will cover the allocation, if any, with the aim of stabilizing the market. This recruitment is expected to close on or about January 26, 2024 (“Closing date“) is subject to certain conditions, including, but not limited to, receipt of all necessary regulatory approvals, including TSX Venture Exchange approval.

Net proceeds raised under this offering will be used to complete the final option payment for the Company’s flagship Tonopah West project (“Tonopah WestThereafter, the Company will own 100% of Tonopah West and will continue to perform metallurgical characterization, engineering evaluation, hydrological evaluation, and general working capital and corporate purposes.

The Rights will be sold through a prospectus supplement to be filed in all provinces of Canada, except Quebec, to supplement the Company’s short form base prospectus dated August 4, 2023. . These stock acquisition rights may also be sold in the United States. Securities Act Amendments of 1933 (“US securities laws) and other jurisdictions outside Canada and the United States, in each case subject to all applicable laws, provided that no prospectus, registration statement, or similar document is required to be filed in such jurisdictions. .”

The securities being offered pursuant to this offering have not been and will not be registered under the U.S. Securities Act or any U.S. state securities laws and will not be offered or sold in or for account or for profit in the United States. You can’t. of which the U.S. person is not registered or has an applicable exemption from registration requirements.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. .

About BlackRock Silver Corporation

BlackRock is a junior precious metals exploration company backed by ounces of gold and silver in the ground and aimed at increasing shareholder value through drill bits. 6.12 million tonnes grading 508.5 g/t silver equivalent^[1] The company has a proven track record of exploration success, including major new gold discoveries at the Tonopah West Project and new jackpot-grade gold discoveries at the Silver Cloud Project. In addition to its gold and silver project portfolio, the company is valued for its lithium discovery, the Tonopah North project, which is an option for the Lithium Exploration Group. Supported by an experienced Board of Directors, the Company is leading the way from low-sulfidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and along the Walker Lane Trend in Nevada. We focus on a 100% managed Nevada real estate portfolio. Western Nevada.

For more information, please contact us below.

Andrew Pollard, President and CEO
blackrock silver corporation
Phone: 604 817-6044
Email: andrew@blackrocksilver.com

Forward-looking and cautionary statements

This news release contains “forward-looking statements” within the meaning of Canadian securities legislation. Such forward-looking statements relate, without limitation, to the completion and termination dates of the offering and the anticipated use of proceeds therefrom. Such forward-looking statements and information are based on a number of assumptions that may prove to be incorrect. Assumptions have been made regarding, among other things: general economic and financial market conditions; Accuracy of assay results. Geological interpretation of drilling results, timing and amount of capital expenditures. Performing available laboratory and other related services. Future operating costs. and the historical basis for current estimates of target zone potential volume and grade. Actual results may differ materially from those anticipated in these forward-looking statements as a result of risk factors, including the timing and nature of work plans. Results of exploration activities and development of mineral properties. interpretation and uncertainties of drilling results and other geological data; Receipt, maintenance and protection of permits and mineral property rights. environmental and other regulatory risks; Project cost overruns or unanticipated costs or expenses. Availability of Funds. Failure to depict the potential quantity and grade of the target zone based on historical data. general market and industry conditions; Forward-looking statements are based on the expectations and opinions of our management on the date the statements are made. Readers should be cautioned that the assumptions used in preparing such statements, although believed to be reasonable at the time they were made, may prove to be incorrect and, therefore, You are cautioned not to place undue reliance on statements regarding. These statements speak only at this time. Date the statement was made. We do not intend to update or update any forward-looking statements contained in this news release if our beliefs, estimates, opinions or other circumstances change, except as otherwise required by applicable law. We are not obligated to make any corrections.

Neither 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.

^[1] Technical information related to the Tonopah West Project can be found in the National Instrument 43-101 Technical Report prepared for BlackRock, Technical Report on Current Estimates of Mineral Resources, Tonopah West Silver Gold Project, Nye County and Esmeralda Counties, Nevada, USA. ”, effective October 6, 2023, dated November 8, 2023, written by Jeffrey Bickel, CPG (“technical reportThe technical report outlines 6.12 million tonnes of silver (Ag) at a block dilution grade of 242 grams per tonne (g/t), with total inferred mineral resources of 47,738,000 oz Ag and 570,000 oz/t gold (Au). doing. oz of Au, or 508.5 g/t silver equivalent (AgEq) to 100 million oz of AgEq. AgEq equivalent grades are based on silver and gold prices of US$22/oz and US$1,850/oz, respectively, and silver and gold recoveries of 87. % and 95% respectively.

Not intended for distribution to U.S. newswire services or dissemination within the United States