Blackrock closes C$5.0 million private placement with Eric Sprott

Vancouver, British Columbia–(Newsfile Corp. – March 3, 2022) – Blackrock Silver Corp. (TSXV: BRC) (the “Company“) is pleased to announce the closing of its non-brokered private placement (the “Offer“) with 2176423 Ontario Ltd., a corporation beneficially owned by Eric Sprott, as sole investor, as previously announced on February 24, 2022. The Offering consisted of an aggregate of 5,681,819 common shares of the Society (“Ordinary actions“) at a price of C$0.88 per common share for gross proceeds of C$5,000,000.72.

The Company intends to use the net proceeds of the Offering for exploration of the Company’s portfolio of gold and silver projects in Nevada, and for general working capital.

As part of the closing of the placement, the Company issued 227,272 common shares (the “Researcher shares“) to Research Capital Corporation (the “Searcher“) as a finder’s fee, which was 4% of the number of Common Shares placed by the Finder in connection with the Offering.

The Common Shares and Finder Shares issued under the Offering are subject to a hold period expiring on July 4, 2022. The Offering is subject to final approval by the TSX Venture Exchange.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Law “) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemptions from the registration requirements of the US Securities Act and applicable US securities laws.This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, and there will be no sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Blackrock Silver Corp.

Blackrock is a junior gold-focused exploration company seeking to make an economic discovery. Anchored by a seasoned board, the company is focused on its Nevada property portfolio of epithermal low-sulphidation gold and silver projects located along the Nevada North Rift established in north-central Nevada and the trendy Walker Lane in western Nevada.

For more information, please contact:

Andrew Pollard, President and CEO
Blackrock Silver Corp.
Telephone: 604 817-6044
Email: [email protected]

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” within the meaning of Canadian securities laws. These forward-looking statements relate to the net proceeds of the Offering and the intended use of proceeds therefrom. These forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things, general economic and financial market conditions; exploration costs, timing and amount of exploration expenditures; and the effects of regulation by government agencies. Actual results could differ materially from those anticipated in these forward-looking statements due to risk factors, including: availability of funds; the schedule and content of the work programs; the results of exploration activities on mineral properties; interpretation of drill results and other geological data; an inability to predict and thwart the effects of COVID-19 on the Company’s business, including, but not limited to, the effects of COVID-19 on commodity prices, capital market conditions, restrictions on labor and international travel and supply chains; general market and industry conditions; and risks set forth in the Company’s public filings on SEDAR. Forward-looking statements are based on the expectations and beliefs of the Company’s management as of the date the statements are made. The assumptions used in the preparation of these statements, although believed to be 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 are not valid only on the date on which the declarations were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this press release if such 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 UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115622

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