Blackrock receives $4.24-million from warrant exercise

Executive Summary

• Blackrock Silver Corp. received $4.24 million in cash from the exercise of previously issued common share purchase warrants.
• The company added seven new drill holes to its eastern expansion program at Tonopah West, bringing the total program to 22 holes (up to 7,000 m) with 19 holes already completed and assay results pending.
• Updated mineral resource estimates are expected in early September 2025, with a further extension‑focused update slated for Q1 2026, supporting continued project de‑risking and development.

Key Details

• Cash proceeds from warrant exercises: $4,244,838.89 received from the exercise of 9,830,880 warrants (issued prior to July 8 2025).
• Post‑exercise share count: 325,490,026 common shares issued and outstanding.
• Expired warrants: 5,733,000 warrants issued Aug 30 2022 with a $0.75 exercise price expired unexercised on Sept 2 2025.
• Eastern expansion drill program at Tonopah West now includes seven additional holes, for a total of 22 holes and up to 7,000 m (23,000 ft) of drilling.
• Completed drill holes: 19 of 22 holes completed; assay results are pending.
• Resource update timeline:
• Updated mineral resource estimate targeted for early September 2025 (aimed at upgrading a portion of the DPB‑South inferred resources).
• Additional resource update focused on extending mine life scheduled for Q1 2026.
• CEO statement emphasizes strengthened treasury, rapid drilling progress, and positioning to advance Tonopah West toward development.

Notable Quotes

“The $4.24 million from warrant exercises has strengthened our treasury, positioning us to continue advancing Tonopah West aggressively towards development… With a robust treasury, assays pending and multiple mineral resource updates in view, we are well positioned to close out 2025 with strong momentum as we continue to derisk and advance the Tonopah West project.” – Andrew Pollard, President & CEO, Blackrock Silver Corp.