Mr. Andrew Pollard reports

BLACKROCK SILVER CLOSES C$15 MILLION PRIVATE PLACEMENT LED BY A C$7 MILLION INVESTMENT FROM ERIC SPROTT

Blackrock Silver Corp. has completed its non-brokered private placement, previously announced on Dec. 24, 2025. 2176423 Ontario Ltd., a company beneficially owned by Eric Sprott, purchased an aggregate of $6,999,960 of the offering. The offering consisted of a total of 13,636,300 units of the company at a price of $1.10 per unit for gross proceeds of $14,999,930. Each unit consisted of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at an exercise price of $1.50 per common share until Jan. 8, 2028.

Andrew Pollard, Blackrock's president and chief executive officer, commented: "Supported by Eric Sprott and a new cornerstone investor, this $15-million financing meaningfully strengthens our balance sheet as we advance Tonopah West toward development. As an emerging American silver developer, we are accelerating permitting and derisking initiatives in 2026 to support the advancement of a secure, high-quality domestic source of silver for the U.S. market."

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.

In connection with the closing of the offering, the company paid Research Capital Corp. a finder's fee in cash totalling $689,997 and issued to the finder a total of 627,270 non-transferable finder's warrants in connection with the units placed by the finder. Each finder's warrant entitles the holder thereof to acquire one common share at an exercise price of $1.50 until Jan. 8, 2028.

The participation of Mr. Sprott in the offering constituted a related party transaction, within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. The company has relied 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 the 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 involved the interested parties, exceeded 25 per cent of the company's market capitalization (as determined under MI 61-101).

The common shares, warrants and finder's warrants issued in connection with the private placement, and the common shares issuable upon exercise of the warrants and finder's warrants, are subject to a hold period expiring on May 9, 2026.

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.