Blackrock Silver Corp. report final assays from, and a recap of, the 2022 drill program at the 100% controlled Tonopah West project located within the Walker Lane trend in west-central Nevada. In 2022, the Company drilled 23,227 metres of reverse circulation (‘RC'), pre-collar and core tail.

The objective was to identify key areas for resource expansion with a focus on four target zones: 1. Northwest Step Out target; 2. Footwall, hangingwall and down dip extensions of the Victor mineralization; 3. New Discovery target; and, 4. DPB expansion. Northwest Step Out Target: TXC22-074 cut 4.36 metres grading 2.367 grams per tonne (‘g/t') gold (‘Au') and 162.5 g/t silver (‘Ag') (399.3 g/t silver equivalent (‘AgEq'), including 1.5 metres grading 712 g/t AgEq (3.78 g/t Au and 334 g/tAg), suggesting a strongly mineralized northwest structure, and expands on the intercept discovered in TXC22-05. RC hole TW22- 118 intersected 1.52 metres of mineralization grading 1.70 g/t gold and 0.1 g/t silver or 171 g/t AgEq a full 1.6 kilometres northwest of the DPB resource area (AgEq_= Ag_g/t + Au_g/t 100); Victor Target 5: drill holes confirm the gold and silver continue down dip and multiple high-grade gold and silver veins exist below the underground workings within the footwall of the Victor system.

TXC22-063 returned 0.7 metres grading 3.95 g/t AU and 448 g/t Ag (843 g/t AgEq); New Discovery Target: Core hole TXC22-057 delivered the highest-grade intercept at the project to date, intersecting 0.91 metres of 37.86 g/t Au and 2,740 g/t Ag or 6,526.7 g/t AgEq within 1.52 metres grading 22.88 g/t Au and 1,654.1 g/t Ag or 3,942.2 g/t AgEq starting at 191.42 metres down-hole along the southern edge of the DPB resource area; DBP Expansion: Drilling extended the resource 200m to the west and 100m to the east. Ten core holes were completed at the Northwest Step Out Target, 1000 metres northwest of the DPB resource area, to follow up on the geochemical intercepts in TW22-119 and -120. TXC22-052 returned 4.6 metres grading 211 g/t AgEq beneath the Mizpah Andesite.

This intersection is significant, and the additional core holes that followed facilitated understanding of the mineralization and how it is related to the rest of the Tonopah district. The original direction of drilling assumed an east-west orientation to the mineralized structures. The completed drilling suggests a north-northwest orientation to the mineralized structure.

This orientation aligns with the mapped 76 fault. TXC22-052 and TXC22-074 cut a northwest-oriented fault, the 76 fault, which may be controlling high- grade gold and silver. TXC22-074 intersected 399.3 g/t AgEq (2.367 g/t Au and 162.5 g/t Ag) over 4.36 metres, including 1.5 metres grading 712 g/t AgEq (3.78 g/t Au and 334 g/t Ag).

Additional drilling is warranted to understand the extent of high-grade gold and silver along the 76 fault structure. If mineralization is following the 76 fault, this opens up approximately 2,000 metres of strike potential along the fault from the Northwest Step Out target to the high-grade intercepts within the New Discovery target. Gold and silver are open to the northwest and southeast.

TXC22-051, -052, -053, -055, -070, -071, -072, and TXC22-073 tested the vein structure beneath the Mizpah andesite; however, the drillholes were completed on the footwall side of the northwest oriented fault and did not return assay values above the cut-off grade. The northwest-oriented fault, 76 fault, appears to control the high-grade gold and silver intersected in TXC22-052 and TXC22-074, serving as a focal point for future targeting. TW22-118, 600 metres west of TXC22-052/TXC22-074, encountered a mineralized structure and returned 170 g/t AgEq over 1.52 metres within the Mizpah Andesite.

TW22-117 is 500 metres west of TW22-118. With the expanded land position, following the inclusion of recently staked BLM claims to the north and west, have significant room to expand and grow the Northwest Step Out Target upon further drilling. Five core holes drilled at the Victor target tested down-dip extensions of the Victor vein and parallel footwall and hangingwall veins.

On the hanging wall side, TXC22-062 and TXC22-063 confirmed that gold and silver veins are open at depth. TXC22-063 cut 0.70 metres grading 3.95 g/t gold and 448 g/t silver down dip on the Victor vein, and TXC22-062 encountered three zones down dip. The drill test confirms the mineralized structures are open down dip.

TXC22-067, -068 and -069 were drilled to test footwall mineralization beneath the Victor vein set. All three drillholes encountered mineralized vein material indicating that unmined veins exist beneath the old Tonopah underground workings; however, only TXC22-067 and TXC22-069 returned assays above the 150 g/t AgEq cut-off. TXC22-069 encountered three distinct zones which require follow up drilling.

Drilling confirmed the Victor Target is open down dip, has multiple unmined footwall veins, and can deliver additional high grade gold and silver. Five core holes drilled at the New Discovery Target followed up Coeur Mining's 2018 drillhole TW18-004 intercept. This drillhole encountered a 4.5 metre zone grading 4.933 g/t Au, 337 g/t Ag or 830 g/t AgEq.

TXC22-056, -057, -058, -059 and TXC22-060 were completed in the target area, and TXC22-057 returned one of the highest grade gold and silver intercepts at Tonopah West, with over one ounce of gold (37.8 g/t Au) and 2.7 kilograms of silver reported over a 0.91 metre interval. Drillholes TXC22-058, - 59 and TXC22-060 all returned significant results. The drill intercepts indicate a northly structural control which may be associated with the 76 faults.

The expansion potential is evident, and additional drilling is warranted. 5 core holes were drilled in the DPB Target and the holes focused on expanding the resource to the east and west. TXC22-054 expanded the resource westward by 200 metres and returned 308g/t AgEq (Au 1.81g/t, Ag 127g/t over 0.31 metres).

TXC22-066A also expanded the resource to the west by 100 metres and intersected 1.52 metres grading 2.01g/t Au and 1.0g/t Ag. TXC22-061 expanded the resource to the east along the projection of the Bermuda vein. The drillhole returned 1.52 metres grading 2.38g/t Au and 2.4g/t Ag.