Blackrock Silver Announces Grant of Long-Term Incentive Awards

Vancouver, British Columbia--(Newsfile Corp. - March 25, 2024) - Blackrock Silver Corp. (TSXV: BRC) (the "Company" or "Blackrock") announces that it has granted an aggregate total of 469,811 performance share units ("PSUs"), 150,944 deferred share units ("DSUs") and 954,797 stock options ("Stock Options") to certain directors, management and consultants of the Company and its Nevada subsidiary pursuant to the Company's Omnibus Equity Incentive Compensation Plan (the "Plan").

Each Option entitles the recipient to purchase on common share of the Company (each, a "Common Share") at an exercise price per share of $0.275 and will vest as to one-third on each of the first, second and third anniversaries of the date of grant and will expire on March 25, 2029.

Each PSU entitles the recipient to receive one Common Share, or a cash payment equal to the Fair Market Value (as defined in the Plan) of the Common Shares on the vesting date, or a combination of Common Shares and cash, as determined in the sole discretion of the Compensation Committee of the Board of Directors of the Company. The PSUs awarded will vest as to one-third on each of the first, second and third anniversaries of the date of grant, subject to the achievement of certain corporate and individual performance criteria.

Each DSU entitles the recipient to receive one Common Share upon settlement of the DSU. The DSUs awarded will fully vest on the first anniversary of the date of grant date, being March 25, 2025, and will settle on the termination of service.

For further information regarding the Plan, readers are encouraged to review the management information circular prepared for the Company' annual general meeting of shareholders held on December 15, 2023, which includes a copy of the Plan, which is available under the Company's profile on SEDAR+ (www.sedarplus.ca) and by visiting the Company's website (www.blackrocksilver.com).

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 major 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: andrew@blackrocksilver.com

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.

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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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