Blackrock Silver Corp. announce that the Company has entered into a further amendment (the "Amendment") to the mineral lease agreement between the Company and Pescio Exploration, LLC (the "Owner") dated October 27, 2017, as amended June 1, 2019 (the "Lease") which provides for the exploration, development, mining and option to purchase of the Silver Cloud project situated in Elko County, Nevada ("Silver Cloud"). Pursuant to the terms of the Amendment: the Company shall have the right, exercisable any time within 10 years of the date of the Amendment, to buy down the 3.5% royalty payable to the Owner to 2% by way of cash payment to the Owner of USD 4.5 million; in substitution of the previous drilling commitment on Silver Cloud provided for in the Lease, the Company is now required to incur work expenditures on Silver Cloud in a minimum amount of: (A) USD 500,000 on or before October 27, 2030; and (B) a further USD 500,000 on or before October 27, 2033, representing a cumulative total work commitment of $1,000,000; the Company's option to purchase 100% of Silver Cloud (the "Purchase Option") has been amended to provide for a purchase price of: (A) USD 5,000,000 if the Purchase Option is exercised on or before October 27, 2029; and (B) USD 7,000,000 (subject to annual inflationary increases) if the Purchase Option is exercised after October 27, 2029; and the Company has agreed to pay to the Owner a one-time cash payment of USD 75,000 in the event that the Company sells all or the majority of its interest in the mining claims comprising Silver Cloud or enters into or forms a joint venture on Silver Cloud wherein another party may earn an interest in at least (50%) of Silver Cloud.