Blackrock Silver Corp. announced non-brokered private placement of 7,500,000 units at a price of CAD 0.80 per unit for gross proceeds of CAD 6,000,000 on October 20, 2021. The transaction will include participation from returning investor, First Majestic Silver Corp.

for CAD 2,000,000 and may include certain directors, officers and other insiders of the company. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share of the company at an exercise price of CAD 1.20 for a period of two years from the closing of the transaction.

The company may pay finder's fees of 6% in cash and finders warrants equal to 3% of units placed by finder. Each finder warrant can be exercisable to purchase one common share of the company for a period of 2 years at an exercisable price of CAD 1.20 per share. The transaction is expected to close on October 29, 2021 and is subject to certain conditions including receipt of all necessary approvals including the approval of the TSX Venture Exchange.

The securities to be issued shall have a hold period of four months and one day from the closing of the transaction. The TSX Venture Exchange has accepted for filing documentation.