BRC.V · 2020-10-08 12:00:00

Blackrock Drills 4,643 g/t Silver Eq. over 1.5m Within 3m of 2,466 g/t Silver Eq. and Successfully Steps Out 500m at Tonopah West

Drill Results

Blackrock Drills 4,643 g/t Silver Eq. over 1.5m

Within 3m of 2,466 g/t Silver Eq. and

Successfully Steps Out 500m at Tonopah West

Vancouver, British Columbia--(Newsfile Corp. - October 8, 2020) - Blackrock Gold Corp. (TSXV: BRC)

(the "

Company

") is pleased to announce additional significant reverse circulation (RC) drillhole

intercepts on its maiden drill program at the 100% controlled Tonopah West project located in the

Walker Lane trend of Western Nevada.

HIGHLIGHTS:

Drillhole TW20-017 has delivered the highest-grade intercept of the program to date, cutting 1.5

metres (m) of 26 g/t gold (Au) & 2,030 g/t silver (Ag), or 4,643 g/t silver equivalent (AgEq) within

3.1 metres of 14 g/t Au & 1,070 g/t Ag (2,466 g/t AgEq) on the Merton vein which is part of the

DPB Target vein system. TW20-17 delivered a second significant intercept, drilling 1.5 metres of

2.8 g/t Au and 220 g/t Ag (506 g/t AgEq). Silver:gold ratio is 100:1, using a 300 g/t AgEq cut-off

grade;

Drillhole TW20-016 connected with a 500 metre step out along the DPB Target with multiple

significant intercepts including 1.5 metres of 553 g/t AgEq (3.2 g/t Au, 232 g/t Ag), 1.5 metres of

489 g/t AgEq (4.8 g/t Au/ 5 g/t Ag), and 1.5 metres of 322 g/t AgEq (1.78 g/t Au/ 145 g/t Ag);

Drillholes TW20-011, 012, 013 and 020 are pre-collars for the core tail program.

Assays for the

core-tail program are pending from Victor Target.

The core program is testing 300 metres of strike

from where TW20-001 intercepted 29 metres grading 965 g/t AgEq (see news release dated July

20, 2020). This series of drillholes were pre-collared half to two-thirds of the way to the target

location using an RC drill.

Once hole casing is set, a core drill is employed to complete the

drillholes with a "core tail";

Drill program has been expanded to 30,000 metres, and a third drill rig has been mobilized to test

the Ohio Target, which represents a third historic mine on the property;

13,700 metres in 28 drillholes have been completed to date. Assays for 16 completed drillholes

have been released, delivering 14 significant & high-grade intercepts, ranging from 1.5 metres to

29 metres in thickness, with grades from 300 g/t AgEq to 4,643 AgEq. Five of those intercepts

assayed at +1kg g/t AgEq.

Andrew Pollard, President & CEO commented "Management had high expectations going into our

maiden round of drilling, though as initial assay results continue to roll in, it's clear we may have

underestimated the project's potential. These results from the DPB Target not only continued to highlight

the bonanza grades for which this historic district was renowned, but have now extended the mineralized

vein corridor a further 500m along strike from where historic production shut down roughly 90 years ago.

The Denver, Paymaster and Bermuda (DPB) high-grade veins that were historically mined together,

represented the last producing mine in the district prior to shutting down due to low metals prices at the

onset of the Great Depression.

As the first group to target the historic workings, we are excited to not

only confirm that high-grade mineralization remains where production left off, but more consequentially,

that the system extends substantially beyond and remains open. With assays showing 14 significant

intercepts from the 16 drillholes reported thus far, we're seeing tremendous leverage via the drill bit at

what is just the very beginning of our maiden program at the project.

With three drill rigs now at site and

roughly 30,000 metres of drilling planned through the end of the year, we are focused on expanding the

footprint of known mineralization while we continue to enhance our understanding of the geologic model."

Table 1: Summary of significant Au and Ag assay results using a 300 g/t AgEq cut-off grade

Drillhole

Area

From

Metres

Length

Metres

Au g/t

Ag g/t

AgEq

g/t

TW20-016

Step Out

233.17

234.7

1.5

4.840

5.28

489.28

TW20-016

Step Out

307.85

309.37

1.5

1.780

144.57

322.57

TW20-016

Step Out

385.57

387.1

1.5

3.220

231.74

553.74

TW20-017

Merton

(DPB)

374.9

376.43

3.1

13.962

1070.16

2466.32

Including

376.43

377.95

1.5

26.133

2029.77

4643.1

TW20-017

Merton

(DPB)

440.44

441.96

1.5

2.840

221.90

505.90

AgEq. = Ag:Au ratio 100:1, True thickness unknown

DPB Target

Drilling on the DPB Target is progressing with step-out drilling east and west of drillhole TW20-006 (4.6

metres at 1,577 g/t AgEq). Additional drill pads spaced at approximately 100 metres apart along strike

will host 3 drillholes each, all oriented in a southerly direction to cut the veins up and down dip.

The DPB

Target has significant tonnage and expansion potential based on drilling to date.

A second intercept has been returned from the Merton vein on the south side of the DPB Target.

Drillhole

TW20-017 cut 3.1 metres of 2,466 g/t AgEq and is one of the highest grade intercepts on the project.

The mineralized intersection in TW20-017, along with the first intercept in TW20-007 (1.5 metres of 387

g/t AgEq), confirm a minimum strike extent of 120 metres on the Merton vein.

A significant development at the DPB Target is the intersection of good grade gold mineralization in

drillhole TW20-016.

TW20-016 is 500 metres west of the drill pattern. The drillhole intersected three

zones of mineralization, and these zones are slightly different than previous drill intercepts in that they are

rich in gold versus silver.

The high-grade gold drill intercepts could be related to a second, younger gold

system.

Two additional step out drillholes, TW20-014 and TW20-015, were completed 800 metres to the west of

the main DPB Target.

The drillholes encountered weak Au and Ag mineralization; however, in TW20-

014, the critical West End Rhyolite unit was missing or faulted out from the volcanic package. In TW20-

015, the West End Rhyolite was present and weakly mineralized.

Additional geologic work is needed to

find the extension of the vein zones 800 metres to the west.

Ohio Target

A third RC drill rig has arrived to initiate planned drillholes at the Ohio Vein Target.

Drilling is targeting

the off-set portion of the flat-lying Ohio and West End veins.

Four drillholes are planned at Ohio, then the

drill will move to the western end of the DPB Target to follow up on drillhole TW20-016.

Victor Target

At the Victor Target, roughly 800 metres to the east of DPB, core drilling is progressing with seven holes

planned and five completed.

Assays for the core program are pending at this time.

Victor Target is

testing approximately 300 metres of potential strike along the Murray/Victor vein complex.

Tonopah 2020 Drilling Grades

Proposed Drilling

To view an enhanced version of this graphic, please visit:

https://orders.newsfilecorp.com/files/676/65469_2cdd96ffa4bf6b59_002full.jpg

Table 2: Drillhole Location Information for TW20-001 to TW20-020

Drillhole

Target

Type

NAD27

East

NAD27

North

Elevation

metres

Azimuth

Dip

Total

Depth

metres

TW20-

001

Victor

478723

4214121

1787

-90

623.3

TW20-

002

Victor

478671

4214227

1796

150

-85

716.3

TW20-

003

Victor

478644

4214326

1794

150

-85

748.3

TW20-

004

DPB

478053

4214260

1765

180

-87

611.12

TW20-

005

DPB

477900

4214220

1760

180

-85

605.03

TW20-

006

DPB

478069

4213965

1774

-90

571.5

TW20-

007

DPB

478058

4213708

1775

180

-85

605.03

TW20-

008

New

Discovery

477900

4213261

1774

175

-80

519.68

TW20-

009

New

Discovery

477887

4213096

1777

-90

312.42

TW20-

010

New

Discovery

477748

4213196

1769

110

-70

355.09

TW20-

011

Victor

Pre Collar

478729

4214131

1786

305

-88

1500

TW20-

012

Victor

Pre Collar

478596

4214252

1798

-90

1500

TW20-

013

Victor

Pre Collar

478664

4214227

1796

220

-85

1500

TW20-

014

Step Out

477305

4214120

1747

180

-80

1500

TW20-

015

Step Out

477281

4213956

1748

180

-70

1360

TW20-

016

Step Out

477547

4213698

1749

180

-70

1285

TW20-

017

DPB

478059

4213714

1775

230

-80

1550

TW20-

018

DPB

477960

4213733

1769

230

-75

1695

TW20-

019

DPB

478280

4214174

1779

220

-70

1850

TW20-

020

Victor

Pre Collar

478821

4214253

1790

205

-76

1400

Drillhole

Target

Type

NAD27

East

NAD27

North

Elevation

metres

Azimuth

Dip

Total

Depth

metres

All sampling was conducted under the supervision of the Company's project geologists, and a strict

chain of custody from the project to the sample preparation facility was implemented and monitored. The

RC samples were hauled from the project site to a secure and fenced facility in Tonopah, Nevada, where

they were loaded on to American Assay Laboratory's (AAL) flat-bed truck and delivered to AAL's facility

in Sparks, Nevada.

A sample submittal sheet was delivered to AAL personnel who organized and

processed the sample intervals pursuant to the Company's instructions.

Blackrock personnel inserted

standards and blanks into the sample sequence every 15 to 20 samples.

The RC samples and QA/QC samples were crushed and pulverized, then the pulverized material was

digested and analyzed for Au using fire assay fusion and an Induced Coupled Plasma (ICP) finish on a

30-gram assay split. Ag was determined using five-acid digestion and ICP analysis.

Over limits for Au

and Ag were determined using a gravimetric finish.

Data verification of the assay and analytical results

are completed to ensure accurate and verifiable results. A prep blank, lab blank or a certified standard

was inserted approximately every 20

sample.

Blackrock's exploration activities at the Tonopah West Project are being conducted and supervised by

Mr. William Howald, Executive Chairman of Blackrock Gold Corp. Mr. William Howald, AIPG Certified

Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101. He

has reviewed and approved the contents of this news release.

About Blackrock Gold Corp.

Blackrock is a junior gold-focused exploration company that is on a quest to make an economic

discovery. Anchored by a seasoned Board, the Company is focused on its Nevada portfolio of

properties consisting of low-sulphidation epithermal gold & silver projects located along on 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 & CEO

Blackrock Gold Corp.

Phone: 604 817-6044

Email:

[email protected]

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities

legislation. Such forward-looking statements concern the Company's strategic plans, completion and

exercise of the Tonopah option agreement, 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 the risk factors including: the ability of the Company to complete the

Tonopah lease option, 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 the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this

release.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/65469

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