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Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) (the "Company" or "Blackrock") is pleased to announce that it has received conditional approval to list its common shares ("Common Shares") on the Toronto Stock Exchange (the "TSX") and has established an at-the-market equity distribution program ("ATM") to provide longer term financial alternatives.
Final approval of the TSX listing is subject to the Company meeting certain customary conditions required by the TSX. The Company will issue a press release once the TSX confirms the date when trading of Common Shares is expected to commence on the TSX. Upon completion of the final listing requirements, the Company's Common Shares will be delisted from the TSX Venture Exchange (the "TSX-V"). Shareholders will not be required to exchange their share certificates or take any other action in connection with the TSX listing, as there will be no change in the CUSIP for the Common Shares. Blackrock will continue to trade under the symbol "BRC".
Andrew Pollard, Blackrock's President and Chief Executive Officer, commented: "Graduating to the TSX is an important step in Blackrock's evolution as a company. The senior exchange broadens the range of institutional investors able to consider Blackrock, and brings us into a peer group that carries higher listing and governance standards. Blackrock is well funded to complete our 17,000 metre drill program and to advance the permitting required for an initial underground decline in 2027. The ATM facility adds further optionality rather than filling a funding requirement. It lets us raise capital at our discretion, without a discount or warrants, and we're under no obligation to use any part of the ATM."
The ATM allows Blackrock to issue and sell, at its discretion, Common Shares having an aggregate sale price of up to C$50,000,000, through Research Capital Corporation (the "Lead Agent"), acting as lead agent on its own behalf, and on behalf of BMO Nesbitt Burns Inc., Canaccord Genuity Corp., National Bank Financial Inc. and Raymond James Ltd. (collectively, together with the Lead Agent, the "Agents"). Sales of the Common Shares, if any, under the ATM will be made in transactions that are deemed to be "at-the-market distributions" as defined in National Instrument 44-102 - Shelf Distributions, including sales made by the Agents directly on the TSX-V or the TSX, or any other trading market for Common Shares in Canada or as otherwise agreed between the Agents and the Company. The Company will seek TSX conditional approval to list the Common Shares that may be issued by the Company under the ATM simultaneously with or shortly after listing on the TSX.
Distributions of Common Shares under the ATM, if any, will be made pursuant to the terms of an equity distribution agreement (the "Equity Distribution Agreement") dated September 14, 2026 entered into between the Company and the Agents.
The offering under the ATM is qualified by a prospectus supplement dated September 14, 2026 (the "Prospectus Supplement") to the Company's final short form base shelf prospectus filed in all of the provinces and territories of Canada, dated August 18, 2025 (the "Base Shelf Prospectus"). Copies of the Equity Distribution Agreement, the Prospectus Supplement and the Base Shelf Prospectus may be obtained on request, without charge, from the President and Chief Executive Officer of the Company at 1570 - 200 Burrard Street, Vancouver, British Columbia V6C 3L6, telephone: (604) 817-6044 and are available on the Company's profile on SEDAR+ at www.sedarplus.ca.
The ATM will be effective until the earlier of: (i) the issuance and sale of all of the Common Shares issuable pursuant to the ATM; and (ii) September 18, 2027, unless terminated prior to such date by the Company or the Agents pursuant to the terms of the Equity Distribution Agreement. As any Common Shares sold under the ATM will be issued and sold at the prevailing market price at the time of the sale, prices may vary among purchasers during the period of distribution. The timing and extent of the use of the ATM will be at the discretion of the Company. Accordingly, total gross proceeds from equity offerings under the ATM, if any, could be significantly less than C$50 million.
Pursuant to the terms of the Equity Distribution Agreement, the Company will compensate the Agents for their services in acting as agents in sale of the Common Shares pursuant to the ATM in cash in an amount equal to 2.5% of the gross proceeds from sales of the Common Shares.
The Company currently expects to use the net proceeds from the ATM, if any, for exploration and development of the Company's Tonopah West mineral property, working capital and general corporate purposes. Actual allocation of the proceeds may vary depending on the amount raised, the time periods during which the proceeds are raised and future developments in relation to the Company's projects and unforeseen events.
No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities in any province, territory, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, territory, state or jurisdiction.
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 listing of the Common Shares on the TSX and the delisting of such Common Shares from the TSX-V; the ATM, including the anticipated benefits to be derived therefrom, completion of any sales of Common Shares under the ATM and the anticipated use of proceeds therefrom, if any; and the Company's strategic plans, timing of future exploration and development activities, anticipated results of exploration and potential mineralization of the Company's mineral projects. 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 its Tonopah West mineral property 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.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
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