Vancouver, British Columbia - Blackrock Silver Corp. (TSXV: BRC) (the 'Company' or 'Blackrock') is pleased to report final assays from, and a recap of, the 2022 drill program at the 100 percent 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 - see Table 3 for the breakdown. 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.

2022 Drill Program Highlights:

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 TXC22-052 (see Table 1). 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.

Andrew Pollard, the Company's President and CEO, commented, 'Our 2022 drilling was successful in daylighting significant upside potential beyond where our previous mineral resource estimate ('MRE') left off, expanding the footprint of mineralization at our project across 3-dimensions on limited drilling a blind discovery is emerging at our Northwest Step Out target, with multiple high-grade pierce points that have been established on a newly identified northwest trending structure that appears wide open. This area has the potential to deliver a significant amount of new high-grade tonnes at the project, representing low-hanging fruit for expansion drilling. At Victor, we've yet to find the bottom, though it's apparent the system has deep roots as we continue to intersect high-grade mineralization down dip, while also encountering new veins well below the historic workings and where our MRE left off. South of our MRE area, we encountered our highest-grade intercept at the project to date, in what was also our shallowest, at our New Discovery target, warranting significant follow-up drilling over the coming months. Now, backstopped by some of the highest-grade undeveloped silver equivalent ounces in the ground1, Tonopah West represents one of the only safe-haven, pure play silver-gold projects in the industry, and we're excited to see it continue to grow.'

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 g/t silver equivalent2 at its Tonopah West project, and a new bonanza-grade gold discovery at Silver Cloud, the Company has a proven track 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% 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.

Contact:

Andrew Pollard

President & CEO

Blackrock Silver Corp.

T: 604 817-6044

Email: andrew@blackrocksilver.com

Forward-Looking Statements

This news release contains 'forward-looking statements' within the meaning of Canadian securities legislation. Such forward-looking statements concern, without limitation, the exercise of the First Option and the Second Option and the transactions contemplated thereby, including the completion of the Initial Earn-In and the Additional Earn-In, the entering into the Joint Venture, the Company's strategic plans, timing and expectations for the Company's exploration and drilling programs, estimates of mineralization from drilling, geological information projected from sampling results and the potential quantities and grades of the target zones. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors, including the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

(C) 2023 Electronic News Publishing, source ENP Newswire