Blackrock Silver Announces $10 Million Bought Deal Public Offering

BLACKROCK SILVER ANNOUNCES $10 MILLION BOUGHT DEAL PUBLIC OFFERING

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT

INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES NOR FOR

DISSEMINATION IN THE UNITED STATES.

The Base Shelf Prospectus is accessible, and the Prospectus Supplement will be

accessible within two business days, through SEDAR+

Vancouver, British Columbia – (January 23, 2025). Blackrock Silver Corp. (TSXV: BRC)

(OTCQX: BKRRF) (FSE: AHZ0) (the “Company” or “Blackrock”) is pleased to announce that it

has entered into an agreement with Raymond James Ltd. (“ Raymond James”), as lead underwriter

and sole bookrunner, on behalf of a syndicate of underwriters (collectively the “ Underwriters”)

pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 27,800,000 units

of the Company (“ Units”) at a price of $0.36 per Unit (the “ Issue Price ”) for gross proceeds of

$10,008,000 (the “Offering”).

Each Unit shall be comprised of one common share of the Company (each a “Common Share”) and

one-half of one Common Share purchase warrant (each full warrant, a “Warrant”). Each Warrant will

entitle the holder thereof to purchase one Common Share at a price of $0.50 for a period of 24 months

following the Closing Date (as defined herein).

The Company has granted the Underwriters an over-allotment option (the “Over-Allotment Option”),

exercisable in whole or in part, at any time, and from time to time, for a period of 30 days following the

Closing Date, to purchase at the Issue Price up to such number of an additional Units as is equal to

15% of the number of Units sold pursuant to the Offering. The Underwriters can elect to exercise the

Over-Allotment Option to cover over-allotments, if any, and for market stabilization purposes.

The net proceeds from the Offering are expected to be used by the Company to advance exploration

and development at the Company’s Tonopah West mineral project, for working capital and for general

corporate purposes.

The Company intends to complete the Offering pursuant to a prospectus supplement (the

“Prospectus Supplement”) to the Company’s short form base shelf prospectus dated August 4, 2023

(the “Base Shelf Prospectus ”) to be filed with the securities regulatory authorities in each of the

provinces and territories of Canada (except Québec), and in the United States on a private placement

basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933,

as amended (the “U.S. Securities Act”) and applicable state securities laws and other jurisdictions.

Copies of the applicable offering documents, when available, can be obtained free of charge under

the Company’s profile on SEDAR+ at www.sedarplus.ca. Delivery of the Base Shelf Prospectus and

the Prospectus Supplement and any amendments thereto will be satisfied in accordance with the

“access equals delivery” provisions of applicable Canadian securities legislation.

The Base Shelf Prospectus and the Prospectus Supplement will contain, important detailed

information about the Company and the Offering. Prospective investors should read the Prospectus

Supplement and accompanying Base Shelf Prospectus and the other documents the Company has

filed on SEDAR+ at www.sedarplus.ca before making an investment decision.

The Offering is expected to close on or about January 30, 2025 (the “Closing Date”) and is subject to

market and other customary conditions, including approval of the TSX Venture Exchange, and the

entering into of an underwriting agreement among the Company and the Underwriters.

The securities offered have not been, and will not be, registered under the United States Securities

Act of 1933, as amended (the “U.S. Securities Act”), or any applicable U.S. state securities laws, and

may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S.

persons” (as such term is defined under Regulation S under the U.S. Securities Act) absent registration

or an available exemption from the registration requirement of the U.S. Securities Act and applicable

U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of

an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer,

solicitation or sale would be unlawful.

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused

exploration and development company driven to add shareholder value. 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.

Additional information on Blackrock Silver Corp. can be found on its website at

www.blackrocksilver.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Statements and Information

This news release contains "forward-looking statements" and "forward-looking information"

(collectively, "forward-looking statements") within the meaning of Canadian and United States

securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All

statements, other than statements of historical fact, are forward-looking statements. Forward-looking

statements in this news release relate to, among other things: the final terms of the Offering, the

anticipated use of proceeds of the Offering and expected timing of the completion of the Offering.

These forward-looking statements reflect the Company's current views with respect to future events

and are necessarily based upon a number of assumptions that, while considered reasonable by the

Company, are inherently subject to significant operational, business, economic and regulatory

uncertainties and contingencies. These assumptions include, 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; the historical basis for current estimates of potential

quantities and grades of target zones; the availability of skilled labour and no labour related disruptions

at any of the Company's operations; no unplanned delays or interruptions in scheduled activities; all

necessary permits, licenses and regulatory approvals for operations are received in a timely manner;

the ability to secure and maintain title and ownership to properties and the surface rights necessary

for operations; and the Company's ability to comply with environmental, health and safety laws. The

foregoing list of assumptions is not exhaustive. The Company cautions the reader that forward-looking

statements involve known and unknown risks, uncertainties and other factors that may cause actual

results and developments to differ materially from those expressed or implied by such forward-looking

statements contained in this news release and the Company has made assumptions and estimates

based on or related to many of these factors. Such factors include, without limitation: 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; general market and industry

conditions; and those factors identified under the caption "Risks Factors" in the Company's most recent

Annual Information Form.

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.

For further information, please contact:

Andrew Pollard, President & Chief Executive Officer

Blackrock Silver Corp.

Phone: 604 817-6044

Email: [email protected]