Blackrock Silver Engages Global Frontier Advisors to Advance U.S. Critical Minerals Strategy at Tonopah West

Blackrock Silver Corp. (BRC) has engaged Global Frontier Advisors LP, a Washington, D.C.-based strategic advisory firm led by former senior U.S. military officers and diplomats. The company’s goal is to identify and pursue U.S. federal and state support, non-dilutive capital, and tax incentives for the Tonopah West silver-gold project. This engagement is positioned around silver’s November 2025 designation as a U.S. critical mineral and the project’s potential to lift domestic U.S. silver production by roughly 10% over an 11-year mine life.

The release reiterates previously disclosed metrics from the March 2026 Preliminary Economic Assessment (PEA), which included the following data:

• NPV5%: US$437M
• IRR: 28%
• Annual Production: 7.1M oz AgEq
• AISC: US$17.44/oz

No concrete funding, grant, or loan has been secured, and ground breaking on underground development is anticipated in 2027.

Blackrock Silver Corp. (BRC) announced an advisory engagement that does not constitute a financing or permit event. The company is exploring a path to potentially secure low-cost, non-dilutive capital, though there is no guarantee of success. This move represents a logical, incremental step for a project with critical-mineral status, but it carries no immediate financial impact.

Relative to the $437M NPV and the existing CAD$24.2M cash position, the engagement is not material. The announcement does not alter the project’s underlying economics, resource, or development timeline. While it serves as a positive signal that management is pursuing all funding avenues, the stock has been in a downtrend from its March 2026 highs, and this news does not provide a concrete catalyst to reverse that trend.

Blackrock Silver Corp. is a pre-revenue silver-gold development company focused on its 100%-owned Tonopah West project in the Walker Lane trend of west-central Nevada, adjacent to the town of Tonopah. The project sits on private patented land, comprising 100 patented claims and 279 unpatented claims covering approximately 25.5 km², a structure that bypasses federal NEPA permitting.

An updated Preliminary Economic Assessment (PEA), effective March 2026, outlines an 11.2-year mine life with an average annual production of 7.1 million ounces of silver-equivalent (AgEq). The project reports an all-in sustaining cost (AISC) of US$17.44 per ounce AgEq, an after-tax net present value (NPV5%) of US$437 million, and an internal rate of return (IRR) of 28%. Initial capital expenditure is estimated at US$190 million, with life-of-mine after-tax cash flow projected at US$778 million.

Resource estimates include indicated resources of 40.2 million ounces AgEq at a grade of 454 g/t AgEq (2.75 million tonnes) and inferred resources of 83.0 million ounces AgEq at 466 g/t AgEq (5.54 million tonnes). Mining methods are projected to be 88% long-hole stoping and 12% cut-and-fill, with recoveries estimated at 91.6% for silver and 96.3% for gold.

The development timeline targets all permits by mid-2027, with an exploration decline, test mining, and bulk sample expected in the fourth quarter of 2027. Blackrock Silver also holds the earlier-stage Silver Cloud Project in Elko County, Nevada, which covers 572 claims across 45 km² and contains a historic drill intercept of 70 g/t gold and 600 g/t silver over 1.5 meters.