Mr. Andrew Pollard reports

BLACKROCK SILVER RECEIVES PERMIT AND SIGNS DRILL CONTRACT TO OFF SET BONANZA-GRADE GOLD AND SILVER DISCOVERY ON THE SILVER CLOUD PROJECT

Blackrock Silver Corp. has received approval from the Nevada Bureau of Land Management and finalized a drill agreement with Tonatec Exploration LLC to commence its phase 1 drill program at the company's Silver Cloud property. Silver Cloud is located along the prolific, high-grade Northern Nevada Rift in north-central Nevada adjacent to the Hollister mine and 15 kilometres south of the Midas mine.

In January, 2023, the company confirmed its original bonanza-grade discovery intercept at the Northwest Canyon target with metallic-screen assay which returned 1.52 metres grading 70 grams per tonne gold and 600 g/t silver in core hole SBC22-020 (see news releases dated Dec. 7, 2022, and Jan. 17, 2023). A severe winter in northern Nevada precluded immediate follow-up on this bonanza-grade intercept.

With ground conditions improving, access to Silver Cloud has now been restored and equipment can now be mobilized to the property. The phase 1 drill program at Silver Cloud is anticipated to start in early June, 2023.

Andrew Pollard, president and chief executive officer of the company, commented: "This bonanza-grade gold and silver discovery at the Northwest Canyon target is a potential game-changer for Blackrock Silver and we've been chomping at the bit to get back up there with the drills ever since. After what was a very severe winter in Nevada, the snow has finally melted and access has been regained allowing us to mobilize our equipment and commence drilling in June, giving Blackrock the opportunity to finally walk this new exciting discovery forward with this fully funded program."

Mr. Pollard continued: "Nestled along the Northern Nevada Rift, in between and on trend of two of Nevada's highest-grade historic gold mines, the Silver Cloud property holds tremendous potential in what may be the missing link of what is one big, high-grade system. In January, 2023, we reported the highest-grade intercept we've had as a company in making this new discovery, intersecting 1.52 metres grading 70 g/t gold and 600 g/t silver in core hole SBC22-020 in Northwest Canyon. Based on the historic drill data which has assays of 5.61 g/t gold over 12.2 metres, the company believes the vein could extend up to two kilometres along a north-northwest orientation. This phase 1 program will test an initial 500 metres of that strike potential."

The initial phase 1 program will commence with 2,200 metres of drilling for approximately 500 metres of strike along the Northwest Canyon vein projection. The vein does not outcrop at the surface and is hosted within the porphyritic Silver Cloud rhyolite volcanic unit. Based on data from previous historic drilling in the target area, including a drill intercept in SCP-15 of 12.2 metres grading 5.61 g/t gold, the company believes the vein could have as many as two kilometres of strike length along a north-northwest orientation.

Quality assurance/quality control

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 samples are hauled from the project site to a secure and fenced facility in Battle Mountain, Nev., where they are loaded onto 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 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. Overlimits for gold and silver are determined using a gravimetric finish. Data verification of the assay and analytical results is completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blank, lab blank or certified reference material approximately every 15th to 20th sample. In addition, a random selection of pulps are sent to ALS Minerals in Reno, Nev., for check assays.

Blackrock's exploration activities at Silver Cloud are conducted and supervised by William Howald, executive chairman of Blackrock. Mr. Howald, AIPG certified professional geologist No. 11041, is a qualified person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

Blackrock Silver to present at Gravitas's fourth Los Angeles Summit

Blackrock Silver is pleased to announce it will be presenting at Gravitas's fourth Los Angeles Summit, which will be taking place at The Beverly Hills Hotel from Sunday, June 4, to Tuesday, June 6, 2023, in Beverly Hills, Calif.

Andrew Pollard, president and chief executive officer, is scheduled to present on Monday, June 5, 2023, at 11 a.m. PDT, where he will also be fielding investor questions during the in-person summit.

Gravitas's fourth Los Angeles Summit will feature public and private companies across various industries presenting to a highly selective audience of venture capital, family office and institutional investors attending from Canada, the United States and abroad. The company also welcomes any investors from the Southern California area to register to attend.

Summit details

Event:  Gravitas's fourth Los Angeles Summit

Format:  presentations and questions and answers

Presentation dates:  Monday, June 5, and Tuesday, June 6, 2023

Time:  9 a.m. PDT to 4 p.m. PDT

Venue:  in person at The Beverly Hills Hotel

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground, Blackrock is a junior precious-metal-focused exploration company driven to add shareholder value via the drill bit. With 2.97 million tonnes grading 446 grams per tonne silver equivalent (1) at its Tonopah West project, and a new bonanza-grade gold discovery at Silver Cloud, the company has a proven record of exploration success. In addition to its gold and silver project portfolio, the company is credited with a lithium discovery, the Tonopah North project, which is under option to a major lithium exploration group. Anchored by a seasoned board, the company is focused on its 100-per-cent-controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada rift in north-central Nevada and the Walker Lane trend in western Nevada.

(1) Technical information relating to the Tonopah West project is based on and derived from the National Instrument 43-101 report prepared for Blackrock entitled "Technical Report and Estimate of Mineral Resources for the Tonopah West Silver-Gold Project, Nye and Esmeralda Counties, Nevada, USA" effective April 28, 2022, authored by Michael S. Lindholm, CPG, and Jeffrey Bickel, CPG. The technical report outlines 2.97 million tonnes at a block diluted grade of 208 grams per tonne (g/t) silver (Ag) and 2.5 g/t gold (Au) for a total inferred mineral resource of 19,902,000 ounces Ag and 238,000 ounces Au, or 446 g/t silver equivalent (AgEq) for 42.6 million oz AgEq. AgEq equivalent grade is based on silver and gold prices of $20 (U.S.)/ounce and $1,750 (U.S.)/ounce, respectively, and recoveries for silver and gold of 87 per cent and 95 per cent.

We seek Safe Harbor.