Mr. Andrew Pollard reports

BLACKROCK SILVER PROVIDES EXPLORATION UPDATE ON TONOPAH WEST AND SILVER CLOUD PROJECTS

Blackrock Silver Corp. has updated the market on its two 100-per-cent-controlled high-grade silver-gold projects in Nevada -- the Tonopah West project, located within the Walker Lane trend in west-central Nevada, and the Silver Cloud project, located along the prolific Northern Nevada rift in north-central Nevada.

Tonopah West

At the Tonopah West project, Blackrock has used the time between drill programs to update and incorporate all 2022 drill information into its geologic model. The new model includes Blackrock's NW stepout drilling, which is located one kilometre northwest of the DPB resource and increases the strike length of the vein system to over three kilometres. The new model is now ready and will form the basis for an updated resource estimate which will be completed in the second half of this year. Based on the geologic model, the NW stepout area is projected to add additional tonnes to the updated resource while keeping a similar-grade profile.

In addition, the company is using the updated geologic model to plan its next drill program, which will infill the NW stepout area to the main resources at Victor and DPB.

Silver Cloud

The core drill has arrived and drilling is now under way at Silver Cloud for this fully financed program. Pad and road construction at the Northwest Canyon target commenced on June 12, 2023, and drilling commenced on June 21, 2023. The initial drill holes are targeting the extension of the bonanza-grade silver and gold intercept encounter in SBC22-020 (70.0 grams per tonne gold and 600 grams per tonne silver over 1.5 metres) (see news release dated Jan. 17, 2023). The program is testing approximately 500 metres of strike along the high-grade vein.

The new bonanza-grade discovery at Northwest Canyon has provided knowledge into the controls on silver and gold at Silver Cloud. Two additional targets have been identified 800 metres and 1,600 metres to the east of Northwest Canyon. These targets are similar to Northwest Canyon and form a series of structures along the eastern margin of the Silver Cloud graben.

Based on a multiple-vein scenario, a Midas mine-like system is envisioned with northerly oriented vein swarm between Northwest Canyon and the Silver Cloud mercury mine. The drill program will test this concept.

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 through the drill bit. With 2.97 million tonnes grading 446 grams per tonne silver equivalent 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.

Blackrock's exploration activities are conducted and supervised Mr. William Howald, executive chairman of Blackrock. William Howald, AIPG-certified (American Institute of Professional Geologists) 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.

Technical information relating to the Tonopah West project is based on and derived from the NI 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. The technical report outlines 2.97 million tonnes at a block diluted grade of 208 grams per tonne silver and 2.5 grams per tonne gold for a total inferred mineral resource of 19,902,000 ounces silver and 238,000 ounces gold, or 446 grams per tonne silver equivalent for 42.6 million ounces silver equivalent. Silver equivalent grade is based on silver and gold prices of $20 (U.S.) per ounce and $1,750 (U.S.) per ounce, respectively, and recoveries for silver and gold of 87 per cent and 95 per cent.

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