Mr. Andrew Pollard reports

BLACKROCK SILVER COMMENCES 17,000 METRE TWO-PHASED EXPANSION DRILL PROGRAMS AT TONOPAH WEST PROJECT

Blackrock Silver Corp. has moved drill rigs for two major resource expansion drill campaigns at the Tonopah West project located along the Walker Lane trend in Nye and Esmeralda counties, Nevada, United States.

Two-phased expansion strategy

1. Eastern expansion (9,100 metres (30,000 feet)/20 holes)

Following up on high-grade intercepts from late 2025, this drill program targets shallow mineralization along the Pittsburg-Monarch fault.

• The company's 2025 eastern expansion drill program at Tonopah West encountered at least three northwest-oriented structures which appear to be mineralized and offset the southern caldera margin to the northeast. The company's drilling under the 2025 program returned thick vein intervals (see news release dated Oct. 27, 2025, and Dec. 2, 2025) of gold and silver along the parallel structures confirming the importance of the Pittsburg-Monarch fault and its footwall splays.
• The Eastern expansion program will follow up on the shallow, high-grade, and thick zones of silver and gold in each of the recognized structures identified in 2025. In this area, the Pittsburg-Monarch fault was considered an ore-controlling structure within the district with the thickest historically mined veins at Victor and Ohio abutting the main fault. The fault splays provide for additional upside of shallow and thick silver and gold similar to the historically reported Victor and Ohio veins.

2. Northwest (NW) expansion (8,000 m (26,250 ft)/10 holes)

• This program (the NW expansion program) focuses on the Denver and Paymaster veins, which remain open along strike and down dip.
• The NW expansion program will consist of 8,000 metres (26,250 ft) of reverse circulation (RC)/core drilling targeting expansion opportunities along strike of the DPBS North zone to the east and northwest. The focus of the drilling will be directed at extensions of the Denver and Paymaster veins and targets. In addition, an 800-metre stepout hole is planned based on the recently completed seismic geophysical survey at the northwestern regions of Tonopah West. If successful, this drill hole will provide substantial and concrete evidence that the Tonopah West system remains open and is world class in size and grade.
• These veins are open to the northwest and down dip as described in the 2022 drill program. Potential to expand is considered good based on open-ended gold and silver intercepts. The company recently acquired 18 kilometres of seismic data collected along lines to understand the caldera margin (see news release dated Oct. 23, 2025). The seismic profiles show significant structures in the northwestern region of the Tonopah West project area that are interpreted to be the outer margin of the Fraction caldera. Several drill holes will test this interpretation.

Capital-efficient drilling

The company will utilize a cost-effective RC/Core hybrid method to maximize drilling metreage while maintaining high-quality geological data.

• Total scope: 17,100 metres (56,250 ft) across 30 drill sites;
• The method: RC precollars drill through non-mineralized cover rock, followed by "core tails" that penetrate the high-value vein zones.

Path to development: hydrology and permitting

• The phase 2 hydrology program (see news release dated Oct. 23, 2025) is nearly complete with the installation of five piezometers wells. The final drill hole is a water monitoring well.
• The piezometer wells have been placed to assess water within the proposed decline and test mining area.
• The results will help drive permitting for the proposed exploration decline, test mining and bulk sample extraction which is on track for H2 2027.

Andrew Pollard, Blackrock's president and chief executive officer, commented: "With our updated mineral resource estimate and preliminary economic assessment on Tonopah West on track for delivery by the end of March, 2026, we are excited to get the drills back to continue to test the extents of silver and gold mineralization at our deposit with a fully funded 17,000 metre, two-phased expansion program now officially under way. Guided by recent seismic data, an 800-metre stepout is the highlight of our NW expansion program, where the bulk of drilling is targeting extensions of the Denver and Paymaster vein sets. Our Eastern expansion program follows up on our successful 2025 campaign, where shallow, thick zones of high-grade mineralization were encountered in at least three northwest-oriented structures that appear to be splays off the Pittsburg-Monarch fault, historically recognized as one of the main structural controls for the entire district. Permitting initiatives towards our proposed exploration decline and test mine area are progressing expeditiously behind the scenes, with our phase 2 hydrology program nearing completion."

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 RC and core samples are hauled from the project site to a secure and fenced facility in Tonopah, Nev., where they are loaded on to American Assay Laboratory's (AAL) flat-bed truck and delivered to AAL's facility in Sparks, Nev. A sample submittal sheet is delivered to AAL personnel who organize and process the sample intervals pursuant to the company's instructions.

Core is delivered to the company's logging facility in Tonopah, Nev., where geologists and technicians log the core and prepare sample intervals and lab sample instructions completed for each core hole. The core boxes are loaded on to American Assay Laboratory's (AAL) flat-bed truck and delivered to AAL's facility in Sparks, Nev. The core is cut using core saws and personnel at AAL's facility in Sparks, Nev., according to the company's instructions delivered with each core hole.

All samples are dried, crushed to 85 per cent passing 10 mesh (two millimetres) and a 250-gram subsample split is collected and pulverized to 200 mesh (74 micrometres) in a ring and puck pulverizer. Then the pulverized material is digested and analyzed for gold using fire assay fusion and an induced coupled plasma (ICP) finish on a 30-gram assay split (FA-PB30-ICP). Silver is determined using five-acid digestion and ICP analysis (ICP-5AM48). Overlimits for gold and silver are determined using a gravimetric finish (GRAVAU30 and GRAVAG30). 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 reference material approximately every 10th to 15th sample.

Qualified person

Blackrock's exploration activities at Tonopah West 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 -- Standards of Disclosure for Mineral Projects. He has reviewed and approved the contents of this news release.

About Blackrock Silver Corp.

Blackrock Silver is an American-focused emerging primary silver developer systematically advancing the high-grade Tonopah West project, situated in the historic Queen of the Silver camps in a jurisdiction consistently ranked as one of the top mining regions globally. The company is backstopped by a veteran board and technical team with a proven record of discovering, financing and building major precious metal mines in Nevada and globally. Blackrock is committed to establishing a secure, high-margin, domestic supply of silver and gold.

We seek Safe Harbor.