Blackrock Gold Corp. Announces Settlement of Approximately $882,000 of Outstanding Debt

Vancouver, British Columbia--(Newsfile Corp. - February 6, 2017) - Blackrock Gold Corp. (TSXV: BRC) ("Blackrock" or the "Company") is pleased to announce that the outstanding debt of $882,000owed to Silcum Resources Limited and Precious Metals Corporation has been settled. The creditors have forgiven the outstanding debt in consideration of an aggregate payment of $30,000.00 from the Company. Silcum Resources Limited forgave outstanding debt in the amount of approximately $285,000 upon receipt of $10,000.00. Precious Metals Corporation forgave debt in the amount of approximately $597,000 upon receipt of $20,000.

Michael O'Connor, CEO, commented "Settling the debt is a very important step forward for the Company. It is one of a series of actions initiated by the Board of Directors to position Blackrock to advance its business plan which is focused on the acquisition of quality advanced gold and silver projects that have near term production potential and are located in mining friendly jurisdictions.Working closely with the members of the Board of Directors, all of whom are very experienced and well respected mining industry professionals, I believe we can achieve the Company's goals."

For further information, please contact:

Michael E. O'Connor
CEO
Blackrock Gold Corporation
Telephone 604-317-6197
Email m_oconnor@shaw.ca

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward?EUR'looking statements.All statements, other than statements of historical fact, constitute "forward?EUR'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?EUR'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?EUR'looking information or statements. Important factors that could cause actual results to differ from these forward?EUR'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?EUR'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?EUR'looking information or statements. Except as required by law, the Company does not intend to revise or update these forward?EUR'looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.

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