Blackrock Silver Announces Annual General Meeting Results

Vancouver, British Columbia--(Newsfile Corp. - December 15, 2023) - Blackrock Silver Corp. (TSXV: BRC) (the "Company" or "Blackrock") is pleased to report that all resolutions proposed and voted on at the Annual General Meeting of its shareholders held December 15, 2023, in Vancouver, British Columbia (the "Meeting") were approved.

Shareholders approved: (i) fixing the number of directors of the Company at seven (7); (ii) the election of William Howald, Andrew Kaip, David Laing, Andrew Pollard, Daniel Vickerman, Antony Wood and Edie Thome as directors of the Company; and (iii) the appointment of its auditor, BDO Canada LLP, Chartered Professional Accountants, as the independent auditor of the Company and to fix the auditor's remuneration.

The Company's shareholders also approved the Company's Omnibus Equity Incentive Compensation Plan (the "Omnibus Plan"), which included the approval of certain amendments to the Omnibus Plan (the "Plan Amendments"). The Plan Amendments primarily consisted of a change to the Omnibus Plan from a "rolling up to 10% and fixed up to 10%" Security Based Compensation Plan to a "rolling up to 10%" Security Based Compensation Plan (as such terms are defined in Policy 4.4 of the TSX Venture Exchange).

As of the date hereof, an aggregate of 19,301,930 common shares of the Company ("Common Shares") are issuable pursuant to the exercise of stock options, restricted share units, deferred share units and performance share units of the Company issued or issuable under the Omnibus Plan, representing 10% of the issued and outstanding Common Shares as at December 15, 2023.

A summary of all of the items approved at the Meeting (including details of the Omnibus Plan, as amended by the Plan Amendments) are described in the Company's Management Information Circular dated October 31, 2023 (the "Circular"), which can be found under the Company's profile on SEDAR+ at www.sedarplus.ca. The Omnibus Plan, in its entirety, including the Plan Amendments, is attached as Schedule "A" to the Circular.

After the meeting, the directors of the Company: (i) appointed the following officers of the Company: Andrew Pollard as President and Chief Executive Officer, William (Bill) Howald as Executive Chairman, Randy Minhas as Chief Financial Officer, Daniel Vickerman as SVP Corporate Development and Amit Kumar as Corporate Secretary; and (ii) appointed Andrew Kaip as the Lead Director.

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 6.12 million tonnes grading 508.5 g/t silver equivalent¹ at its Tonopah West project, and a new bonanza-grade gold discovery at its Silver Cloud project, 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 lithium exploration group. Anchored by a seasoned Board of Directors, 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.

For further information, please contact:

Andrew Pollard, President & Chief Executive Officer
Blackrock Silver Corp.
Phone: 604 817-6044
Email: [email protected]

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.

¹ Technical information relating to the Tonopah West project is based on and derived from the National Instrument 43-101 technical report prepared for Blackrock entitled "Technical Report for Updated Estimate of Mineral Resources, Tonopah West Silver-Gold Project, Nye and Esmeralda Counties, Nevada, USA" effective October 6, 2023 and dated November 8, 2023 authored by Jeffrey Bickel, C.P.G. (the "Technical Report"). The Technical Report outlines 6.12 million tonnes at a block diluted grade of 242 grams per tonne (g/t) silver (Ag) and 2.9g/t gold (Au) for a total inferred mineral resource of 47,738,000 ounces Ag and 570,000 ounces Au, or 508.5 g/t silver equivalent (AgEq) for 100.04 million oz AgEq. AgEq equivalent grade is based on silver and gold prices of US$22/ounce and US$1,850/ounce, respectively, and recoveries for silver and gold of 87% and 95%, respectively.

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