Blackrock Gold Commences Drilling at Silver Cloud

Press Release Highlights

• A fully-financed 2,000m core drilling program has commenced at Silver Cloud, with four holes planned to follow up on past high-grade intercepts reported by Teck and Placer Dome.
• Modelling of historic drill holes in Leapfrog identify the potential for five veins within the Silver Cloud vein zone over 2km strike.
• Initial drilling will target the Main vein and a sub-parallel hanging wall vein located directly to the south of the Silver Cloud mine at the critical 1,500m elevation where past high-grade intercepts were encountered.
• The current permit allows for 10,000 metres of drilling in the Silver Cloud mine vein zone.

Vancouver, British Columbia--(Newsfile Corp. - October 7, 2019) - Blackrock Gold Corp. (TSXV: BRC) ("Blackrock" or the "Company") is pleased to report that drilling has commenced at its Silver Cloud property, a low-sulphidation epithermal gold and silver project located along the established Northern Nevada Rift gold trend in north-central Nevada. Silver Cloud lays directly adjacent to Hecla's Hollister Mine and is a former Teck and Placer Dome project where limited drilling between 2000 and 2003 yielded multiple high-grade intercepts at both the Silver Cloud mine and Northwest Canyon targets.

The fully-financed initial program will consist of up to 2,000m of core drilling, with four holes planned to follow up on past high-grade intercepts reported by Teck (including 158g/t Au over 1.5m) and by Placer Dome (5.5g/t Au over 12m). Geologic modeling developed by Blackrock's team suggests that the historic high-grade precious metal intercepts may be associated with an east-west vein system rather than the north-south system that guided previous interpretations. This initial core drill program is designed to test the east-west interpretation over a 2km strike, with drill sites at each end aimed at targeting the Main vein and a sub-parallel hanging wall vein at a 1,500m elevation.

Andrew Pollard, President & CEO stated "Our geologic interpretation suggests that a low sulphidation epithermal, east-west oriented, precious metal vein system runs between the Silver Cloud mercury mine and Northwest Canyon, located 2km directly to the west. The initial drilling program is designed to target precisely where Teck and Placer Dome intersected high-grade gold. With the availability of new data, we are re-orienting the drills, turning them by 90 degrees, which will allow us to test the east-west extent of the vein system. If our model holds true, we should intersect the Main vein and a sub-parallel hanging wall at both ends, which would represent roughly 2km of strike on one of the highest-grade gold belts on the planet."

Leapfrog modeling of historic drill holes using logged lithology and gold assay data show potential for five veins within the Silver Cloud vein zone. Past drill intercepts within 200m of the 1,500m elevation reported by previous operators have gold values ranging between 3 g/t Au and 158 g/t Au and, as such, Blackrock has designed its drill program around that preferred elevation. Up to 10,000m of drilling among five sites throughout the Silver Cloud vein zone has been permitted and bonded which would allow Blackrock to expand the initial drill campaign decisively should early results warrant.

The Silver Cloud geologic model and initial drill program are outlined in a YouTube presentation by Bill Howald, Executive Chairman, and can be viewed at: Silver Cloud Geologic Model in Leapfrog

Plan Map of Proposed Drilling

To view an enhanced version of this map, please visit:
https://orders.newsfilecorp.com/files/676/48521_6ae41feef451ab3a_002full.jpg

Blackrock's exploration activities at the Silver Cloud project are being conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock Gold Corp. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

About Blackrock Gold Corp.

Blackrock is a junior gold-focused exploration company that is on a quest to make an economic discovery. Anchored by a seasoned Board, the Company is focused on its Silver Cloud property, a low-sulphidation epithermal gold & silver project located along the established Northern Nevada Rift gold trend in north-central Nevada.

For further information, please contact:

Andrew Pollard, Chief Executive Officer
Blackrock Gold Corp.
Phone: 604 817-6044
Email: andrew@blackrockgoldcorp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.

Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include but are not limited to the ability of the Company to attract financing and the general market conditions of the industry in which the Company operates and the other factors discussed in the sections relating to risk factors discussed in the Company's continuous disclosure filings on SEDAR.

There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.

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