Peterson McVicar Acts for Red Cloud in Blackrock Silver $5.0M Bought Deal Financing

On January 19, 2024 Blackrock Silver Corp. (the "Company" or "Blackrock") announced that the Company has increased the gross proceeds of its previously announced "bought deal" public offering to C$5,000,000 (the "Offering"). The Offering has been upsized to include an investment from a singular strategic investor that will allow for the drilling of high-priority resource expansion targets at the Company's flagship Tonopah West project in Nevada ("Tonopah West").

Under the Offering, the Underwriters (as defined herein) have agreed to purchase for resale 25,000,000 units of the Company (each, a "Unit") at a price of C$0.20 per Unit (the "Offering Price"). Red Cloud Securities Inc. is acting as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the "Underwriters").

Each Unit will consist of one common share of the Company (each, a "Common Share") and one half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant shall entitle the holder to purchase one Common Share of the Company at a price of C$0.30 at any time on or before that date which is 36 months after the closing date of the Offering.

Blackrock Silver Corp. (TSXV: BRC) 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 equivalent[1] 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.

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