Mr. Andrew Pollard reports

BLACKROCK SILVER ANNOUNCES C$15 MILLION STRATEGIC INVESTMENT BY TWO CORNERSTONE PURCHASERS

Blackrock Silver Corp. has arranged a non-brokered private placement of up to 13,636,363 units at a price of $1.10 per unit for gross proceeds of up to $15-million. Each unit will comprise one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at a price of $1.50 per common share for a period of two years from the closing date of the offering. The company expects that two cornerstone investors will purchase all or substantially all of the units to be issued under the offering.

The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. All securities to be issued in connection with the offering will have a hold period of four months and one day from the closing of the offering.

The net proceeds of the offering are intended to be used by the company to finance exploration, permitting and predevelopment activities on the company's Tonopah West project and for general working capital.

Andrew Pollard, Blackrock's president and chief executive officer, commented: "The $15-million investment from two strategic buyers, including one of our largest shareholders and a new cornerstone investor, demonstrates strong alignment around our vision for Tonopah West. As an emerging American silver developer, the funding strengthens our balance sheet and enables us to advance aggressively on exploration, predevelopment and permitting initiatives."

The company may pay finders' fees in connection with the offering of up to 6 per cent in cash and, for those applicable, finder warrants equal to up to 6 per cent of such units placed by the finder, with each finder warrant exercisable for one common share for a two-year term at a price of $1.50 per common share. The finders' fees shall be paid in accordance with applicable securities laws and the policies of the TSX-V.

It is anticipated that a certain insider of the company may acquire units under the offering. Such participation will be considered to be a related party transaction within the meaning of TSX-V Policy 5.9 and Multilateral Instrument 61- 101, Protection of Minority Security Holders in Special Transactions adopted in the policy. The company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the offering as neither the fair market value (as determined under MI 61-101) of the subject matter of nor the fair market value of the consideration for the transaction, insofar as it involves interested parties, is expected to exceed 25 per cent of the company's market capitalization (as determined under MI 61-101).

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-per-cent-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.

We seek Safe Harbor.