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Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) (the "Company" or "Blackrock") is pleased to announce that its wholly-owned Nevada subsidiary, Blackrock Gold Corp. ("Blackrock Gold"), has entered into a purchase agreement (the "Purchase Agreement") with Nevada Select Royalty, Inc. ("Nevada Select"), a wholly-owned subsidiary of Gold Royalty Corp., pursuant to which Blackrock Gold will acquire a parcel of 146 unpatented mineral claims (the "Tonopah East") located along the eastern margin of the Fraction caldera within the Walker Lane trend of west-central Nevada.
The Tonopah East project covers a significant portion of the eastern margin of the Fraction caldera which is known to host silver and gold in the historic Tonopah Mining District and at Blackrock's Tonopah West and Tonopah North projects. The Tonopah East project adds 12.1 square kilometres to the Company's existing 26.6 square kilometres bringing the total to just shy of 39 square kilometres of land owned along the silver-dominated Fraction caldera margin. Figure 1 shows Blackrock's land position in the Tonopah Mining District.
The Fraction caldera as outline in Figure 1 is based on recent work completed by the United States Geological Survey (USGS) on the Tonopah Mining District. Figure 2 shows Blackrock lands on regional aeromagnetics and the Fraction caldera margin.
Pursuant to the terms of the Purchase Agreement, Blackrock Gold will acquire the Tonopah East project and any data in respect of such Tonopah East from Nevada Select in consideration for a cash payment of US$48,344.37 (plus the payment of any federal annual mining claim maintenance fees paid in respect of the Tonopah East by Nevada Select for the annual assessment year ending September 1, 2027). In addition, Blackrock Gold has agreed to grant Nevada Select a 3.0% net smelter returns royalty on any future production on Tonopah East.
Figure 1: Blackrock Owned Lands within the Tonopah Mining District along the Fraction Caldera
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Andrew Pollard, President and Chief Executive Officer of Blackrock, commented: "The Tonopah district produced 174 million ounces of silver and 1.8 million ounces of gold1 from a four-kilometre trend, and the main structural control on that mineralization is the Fraction caldera margin. With the addition of Tonopah East we now command the leading land position around it. This acquisition grows our holdings by roughly 45%, on prospective ground directly along that margin, about five kilometres from our planned mill and process plant. As Tonopah West advances through development, a land package of this quality within hauling distance gives us the opportunity to broaden our exploration focus over time, and to see the full potential of the Tonopah district realized."
Figure 2: Blackrock Owned Lands with RTP Aeromagnetics
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The closing of the transactions contemplated by the Purchase Agreement, including the purchase and sale of the Mineral Claims thereunder, is anticipated to occur on or about September 30, 2026, or such other date as mutually agreed to by the parties.
Qualified Persons
Blackrock's exploration activities at Tonopah West are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. He has reviewed and approved the contents of this news release.
About Blackrock Silver Corp.
Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) is an American-focused emerging primary silver developer systematically advancing the high-grade Tonopah West project in west-central Nevada, a jurisdiction consistently ranked among the top mining regions globally. The Company is focused on unlocking the value of one of the highest-grade undeveloped silver projects in the industry and delivering a secure, domestic source of a metal critical to the U.S. energy and defense supply chains.
For further information, please contact:
Sean Thompson, Head of Investor Relations
Blackrock Silver Corp.
Phone: 1-800-380-1530
Email: sean@blackrocksilver.com
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 Company's strategic plans; the closing date of the transactions contemplated by the Purchase Agreement; and the anticipated benefits associated with the acquisition of the Mineral Claims. 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; tonnage to be mined and processed; grades and recoveries; prices for silver and gold remaining as estimated; currency exchange rates remaining as estimated; reclamation estimates; reliability of the mineral resource estimate and the Company's preliminary economic assessment on Tonopah West and the assumptions upon which they were based; future operating costs; prices for energy inputs, labour, materials, supplies and services (including transportation); the availability of skilled labour and no labour related disruptions at any of the Company's operations; no unplanned delays or interruptions in scheduled production; performance of available laboratory and other related services; availability of funds; 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: fluctuations in silver and gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships with, and claims by, local communities and indigenous populations; the ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in the jurisdictions where the Company operates; changes in national and local government, legislation, taxation, controls or regulations and political, legal or economic developments, including legal restrictions relating to mining and risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; 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.
1 All historic production information from Nevada Bureau of Mines & Geology, Bulletin 51 and Bulletin 92. US short tons have been converted to metric tonnes by multiplying short tons by 0.9072
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