Blackrock Silver Corp · TSXV:BRC
Blackrock Silver — Investor Presentation (April 2026)
26 slides from Blackrock Silver's investor presentation, Apr 8, 2026
Slide 1: America's Emerging Primary Silver Developer: High Grade, Low Costs
AMERICA’S EMERGING PRIMARY SILVER DEVELOPER: HIGH GRADE, LOW COSTS April 2026 CORPORATE PRESENTATION TSX-V: BRC | OTC: BKRRF | FSE: AHZ0
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform
Slide 3: Stock Info
STOCK INFO Institutions TSX-V: BRC | OTC: BKRRF | FSE: AHZ0 Including, but not limited to: Eric Sprott BRC Share Price Performance Last 12 Months Retail Global X Silver Miners ETF (SIL) Volume in Millions Share Price (C$) Sprott A.M. 38% US Global Gold 2000 IXIOS A.M. 55% Sprott Silver Miners & Phys
Slide 4: Tonopah Silver District
TONOPAH SILVER DISTRICT The Queen of the Silver Camps • One of the largest historic silver districts in North America, producing 174 Mozs Ag & 1.8 Mozs Au from 7.5m tonnes • Mined from underground from 1900 to 1930, with peak years producing up to 14,000,000oz/ year AgEq; Victor vein was 24m thick w
Slide 5: Tonopah West: Picking Up Where Historic Miners Left Off
TONOPAH WEST: Picking Up Where Historic Miners Left Off Amalgamation of West End Mining Company and Tonopah Extension Mining Company now owned 100% by Blackrock Silver. This property represents the 3rd largest historic producer in the district*. Purple - Tonopah Extension Mining Company land (in pur
Slide 6: Tonopah West: Silver-Gold
Tonopah West: Silver-Gold • Updated 2026 mineral resource estimate outlines 40.1M AgEq ounces Indicated within 2.75M tonnes at a block diluted grade of 454 g/t AgEq AND 82.9M AgEq ounces Certain scientific and technical information relating to the MRE and the PEA on the Inferred within 5.5M tonnes a
Slide 7: Updated PEA based on Jan 2026 MRE - Key Metrics
Updated PEA based on Jan 2026 MRE - Key Metrics Tonopah West Project - Assumptions / Results 2026 PEA Operating Base Case : USD$31 Silver, USD$2700 Gold: Total tonnes processed over the LOM 7,143,000 Total waste mined over the LOM 1,761,000 • After-tax NPV (5%) USD$437-million Gold grade mined – LOM
Slide 8: Updated PEA – Sensitivity to Metal Prices – NPV, IRR and payback period
Updated PEA – Sensitivity to Metal Prices – NPV, IRR and payback period Certain scientific and technical information relating to the MRE and the PEA on the Tonopah West Project contained in this presentation is derived from the Company’s press release titled “Blackrock Silver Announces Updated Preli
Slide 9: Tonopah West 2026 PEA Mine Development by Year
Tonopah West 2026 PEA Mine Development by Year Certain scientific and technical information relating to the MRE and the PEA on the Tonopah West Project contained in this presentation is derived from the Company’s press release titled “Blackrock Silver Announces Updated Preliminary Economic Assessmen
Slide 10: 2026 Updated PEA - Operating and Capital Costs
2026 Updated PEA - Operating and Capital Costs Per Payable Oz Per Payable Oz Tonapah West Operating Costs LOM (US$M) Ag (US$) AgEq (US$) Mining $ 629 $ 17.28 $ 7.9 Processing $ 269 $ 7.38 $ 3.37 General Administrative (site) $ 38 $ 1.04 $ 0.47 Royalties and Production Taxes $ 148 $ 4.07 $ 1.86 Curre
Slide 11: 2026 Resource Estimate
2026 Resource Estimate Certain scientific and technical information relating to the MRE and the PEA on the Tonopah West Project contained in this presentation is derived from the Company’s press release titled “Blackrock Silver Announces Updated Preliminary Economic Assessment For Its Tonopah West P
Slide 12: DPB South
DPB SOUTH SECTION SECTION 477975 BLACKROCKSILVER.COM| TSX-V: BRC | OTC: BKRRF | FSE: AHZ APRIL 2026| 12
Slide 13: Denver, Paymaster, Bermuda and Merten Veins
DENVER, PAYMASTER, BERMUDA AND MERTEN VEINS BLACKROCKSILVER.COM| TSX-V: BRC | OTC: BKRRF | FSE: AHZ BLACKROCKSILVER.COM| TSX-V: BRC | OTC: BKRRF | FSE: AHZ APRIL 2026| 13
Slide 14: 2026 Resource Expansion Drill Program
2026 Resource Expansion Drill Program • Multiple deposits tracked across open vein corridor that follows outer and an inner ring structures spanning 5.5km in strike length • The system also remains open to the south, northwest, at depth. • *17,000 metre, two-phased expansion drilling program commenc
Slide 15: 2020-2026 Project Timeline
2020-2026 PROJECT TIMELINE 165 km of RC & Core drilling completed from June 2020 to September 2025 2020-focus: maiden drill program focussed on discovery 2021 –focus: resource delineation and maiden MRE 2022 –focus: step out exploration drilling 2023 –focus: resource modelling and updated MRE 2024-f
Slide 16: Tonopah West Project Timeline
TONOPAH WEST PROJECT TIMELINE Reta Institutional: 52% BLACKROCKSILVER.COM| TSX-V: BRC | OTC: BKRRF | FSE: AHZ APRIL 2026| 16
Slide 17: Infrastructure, Electricity, Casinos..
Infrastructure, Electricity, Casinos.. TONOPAH WEST PROJECT BLACKROCKSILVER.COM| TSX-V: BRC | OTC: BKRRF | FSE: AHZ APRIL 2026| 17
Slide 18: Silver Cloud
SILVER CLOUD The Richest Gold Mining Area In North America • Large land package consists of 572 mining claims covering 45sq km (+12,000 acres) • Centered on the Northern Nevada Rift, adjacent to Hecla’s Hollister mine • 3 core drillhole programme completed in November 2022 : SBC22-020 intersected 70
Slide 19: LS Epithermal Pathfinders: Historic Mercury Mines
LS EPITHERMAL PATHFINDERS: HISTORIC MERCURY MINES • Mercury and arsenic are the ultimate pathfinder elements for low-sulphidation epithermal gold deposits • The Silver Cloud project is named after the past producing Silver Cloud gold mine where past high-grade intercepts were encountered by Teck and
Slide 20: Similar Trends & Depths
SIMILAR TRENDS & DEPTHS There is no assurance that mineralization comparable to that on adjacent properties will be discovered on Blackrock’s Silver Cloud Project -North-Northwest veins -Productive zone between 4200 and 5100 ft RL - Volcanic hosted BLACKROCKSILVER.COM| TSX-V: BRC | OTC: BKRRF | FSE:
Slide 21: Comparison of Midas & Hollister Mines
COMPARISON OF MIDAS & HOLLISTER MINES There is no assurance that mineralization comparable to that on adjacent properties will be discovered on Blackrock’s Silver Cloud Project 5000 ft RL Midas Mine Hollister Mine • NNW-NW oriented veins • E-W oriented veins • Productive zone between 4500 and 5500 f
Slide 22: Executive Directors
Executive Directors Bill Howald Andrew Pollard Tom Peregoodoff Executive Chairman President & CEO, Director Lead Director William (Bill) Howald is a successful Andrew Pollard is a company builder with Tom Peregoodoff has over 30 years of resource entrepreneur who founded several public two decades o
Slide 23: Independent Directors
Independent Directors David Laing Tony Wood Bernard Poznanski Susan Mathieu Director Director Director Director David Laing is a mining engineer with 40 Tony Wood currently serves as Bernard Poznanski is a highly Susan Mathieu has over thirty years of years of experience in the industry. He Chief Fi
Slide 24: TSX-V: BRC OTC: BKRRF FSE: AHZ0
TSX-V: BRC www.blackrocksilver.com OTC: BKRRF FSE: AHZ0
Slide 25: 2026 Updated PEA – Production Profile
2026 Updated PEA – Production Profile Production (2) Operating Gross Costs & Operating Sustaining Initial Pre-Tax Income After-Tax Year Revenue AISC Gold Silver Royalties Cash Flow Capex (6) Capex (4) Cashflow Taxes Paid Cash Flow (US$M) (5) Kozs US$ Year -2 0 0 0 0 0 0 31 -31 0 0 -31 Year -1 0 0 0
Slide 26: Denver, Paymaster, Bermuda and Merten Veins
DENVER, PAYMASTER, BERMUDA AND MERTEN VEINS BLACKROCKSILVER.COM| TSX-V: BRC | OTC: BKRRF | FSE: AHZ APRIL 2026| 26
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