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With a strategic foothold in British Columbia’s most prospective mining belts, Finlay Minerals is an emerging copper-gold-silver exploration company with a compelling investment story, backed by a 30-year technical legacy and disciplined approach to discovery.

Overview

Finlay Minerals (TSXV:FYL,OTCQB:FYMNF) is a Vancouver-based mineral exploration company focused on advancing copper, gold and silver projects in British Columbia’s premier mining districts, particularly within the richly mineralized and productive Stikine Terrane. The company’s strategic objective is to discover and develop high-quality porphyry and epithermal deposits through a combination of geological expertise, partner-funded programs, and disciplined capital deployment.

Founders John J. Barakso and Robert Brown at the PIL Property

Finlay’s value proposition is anchored in its 2025 agreements with Freeport-McMoRan – one of the world’s largest copper producers – which is actively funding the advancement of the PIL and ATTY projects in the Toodoggone District. These earn-in agreements provide a non-dilutive path to unlock value from Finlay’s flagship assets, while enabling the company to focus internal resources on regional-scale exploration at its SAY, JJB and Silver Hope properties.

The company benefits from a seasoned technical team with regional expertise and a deep understanding of the geologic architecture of British Columbia. New exploration initiatives, such as those along the Bear Lake Corridor, position Finlay for new discovery potential across multiple fronts. With metal prices trending higher and a favorable operating environment in Canada, Finlay Minerals offers exposure to copper and gold discoveries in one of the safest and most geologically endowed jurisdictions globally.

Company Highlights

  • Strategic Alliance with Freeport-McMoRan: Freeport has committed up to $35 million in exploration spending and $4.1 million in cash payments for an 80 percent interest in Finlay’s PIL and ATTY projects, validating their district-scale potential.
  • Dominant Land Position in the Toodoggone District: PIL and ATTY provide direct exposure to one of BC’s most active copper-gold corridors, adjacent to Centerra’s Kemess complex and Amarc-Freeport’s AuRORA discovery.
  • Unlocking the Bear Lake Corridor: The SAY and JJB properties offer large-scale exploration potential in an underexplored region analogous to major discoveries like American Eagle’s NAK and Amarc’s DUKE.
  • Disciplined Exploration Focus: More than 70 percent of all capital raised has gone directly into the ground, demonstrating Finlay’s capital-efficient approach and scientific rigor.
  • Proven Leadership Legacy: Founded by renowned geochemist John J. Barakso and led by a technically adept team with deep experience in BC exploration.

Key Projects

PIL

Porphyry Corridor passing through Finlay Minerals

The 100 percent owned PIL property spans 13,374 hectares in the prolific Toodoggone mining district in British Columbia and was staked over 30 years ago by Finlay’s founders. It hosts multiple copper-gold-molybdenum porphyry and gold-silver epithermal targets within the 70 km regional porphyry corridor trend, situated near major deposits including Centerra Gold’s Kemess complex and the Amarc-Freeport AuRORA discovery. Notable targets on the property include PIL South (2.5 x 2.0 km soil geochemical anomaly with supported IP anomaly), Copper Ridge (soil anomaly 1.9 x 1.3 km) and Spruce (rock samples up to 18.4 percent copper). Historical drilling includes 72 holes totaling over 17,000 metres, with new targets emerging from recent geophysical and geochemical work. Past drilling includes intersections like 162.0 m of 0.1 percent copper, 0.05 grams per ton gold and 7.1 g/t silver at PIL South, highlighting the potential for bulk tonnage copper-gold systems.

Finlay has announced an earn-in agreement with Freeport-McMoRan, which may invest up to $25 million in exploration expenditures to earn 80 percent interest over six years, signaling high confidence in the PIL project’s tier-1 potential. A broad and systematic exploration plan is in place for the 2025 season, involving surface sampling with updated analysis techniques, mapping and detailed geophysical surveys.

ATTY

Finaly Minerals

Covering 3,875 hectares, the 100 percent owned ATTY property, also in the Toodoggone District, lies directly north of the Kemess East and Underground deposits. It shares similar stratigraphy and alteration patterns and is interpreted to host an extension of the Kemess North trend. The property hosts eight epithermal and porphyry targets, including two main targets, the KEM and Wrich targets, which have been delineated through IP surveys and/or geochemistry, pointing toward porphyry centers. Thirteen holes totaling 3,971 meters have been drilled to date, but the main IP chargeability zone remains untested at depth. With similarities to the upper Kemess East deposit and structural alignment with the adjacent Joy project (Amarc/Freeport), ATTY is considered a high-priority drill target and is fully permitted for 2025. Finlay has announced an earn-in agreement with Freeport-McMoRan, which may invest up to $10 million in exploration expenditures to earn 80 percent interest over six years, signaling high confidence in the ATTY project’s tier-1 potential.

SAY

The SAY property is a 100 percent owned, early-stage exploration project covering 26,202 hectares within the underexplored Bear Lake Corridor of the Stikine Terrane. Located 140 km north of Smithers, BC, it is accessible by helicopter with logging roads nearby. The project hosts structurally controlled high-grade copper and silver mineralization at the SPUR Target, which includes the AG Zone, East Breccia and Western Shear. Recent surface sampling returned exceptional grades such as 14.5 percent copper and 850 g/t silver from East Breccia, and 11.2 percent copper and 819 g/t silver from the AG Zone. Copper and silver exposures at the AG Zone have been observed over a 200 by 200 metre area. The mineralization occurs along a 4.3 km ridgeline with strong magnetic signatures, spatially related to local faults, intrusive dykes and breccias. The SHEL target, associated with molybdenum, adds porphyry-style upside. A property-wide mag survey and extensive surface sampling program is planned in 2025 to systematically evaluate the copper potential of the SAY property.

JJB

The fully owned JJB property spans 15,453 hectares and lies 4 km north of SAY within the same Bear Lake Corridor. Named after founder John J. Barakso, this grassroots property is in the early stages of exploration but offers significant blue-sky potential. The property shares the same tectonic setting as NAK and DUKE and will benefit from the technical momentum established at SAY. Logging roads and an airstrip are within 10 km of the JJB claims, providing nearby staging areas for this heli-access project. Systematic geological mapping and sampling, alongside airborne mag surveys, are planned to generate drill targets in the near term.

Silver Hope

The Silver Hope property covers 21,322 hectares surrounding the historic Equity Silver mine in the Skeena Arch. This 100 percent owned asset hosts the Main Trend, a >2 km copper-silver-gold mineralized system extending from the Newmont owned, past-producing, Equity Silver mine. Historical drilling (over 41,000 m) has intersected broad mineralized zones, including 282 m @ 0.23 percent copper, 6.4 g/t silver and 0.01 g/t gold. Other notable intercepts include 133 m @ 0.30 percent copper and 7.6 g/t silver. The West Cu-Mo Porphyry target adds a large-scale copper-molybdenum opportunity to the mix, and the project is fully permitted for drilling.

Management Team

Ilona B. Lindsay – President, CEO and Director

Ilona Lindsay has over 15 years of experience with Finlay and is the daughter of company co-founder John J. Barakso. She has overseen corporate operations, financings and tenure management. Under her leadership, the company has transitioned toward institutional-grade exploration partnerships while maintaining fiscal discipline. She is also a director of the Barakso family companies.

Robert F. Brown – Executive Chairman

A retired professional engineer with over 40 years of experience in porphyry and epithermal systems, Robert Brown co-founded Finlay and played a critical role in identifying and acquiring its land packages. He previously served as VP exploration for Great Panther Mining and worked with LAC Minerals. His technical vision continues to shape the company’s exploration direction.

Wade Barnes – VP Exploration

Wade Barnes is a P.Geo. and Qualified Person (QP) with over 20 years of geological experience in BC. He was co-recipient of the AMEBC H.H. “Spud” Huestis Award for the discovery of Kemess East deposit in the Toodoggone. At Finlay, he leads technical execution and target development across the portfolio.

Susan Flasha – VP Corporate Development

With over two decades of industry experience, including senior roles at Pretium Resources (Brucejack Mine) and Brixton Metals, Susan Flasha brings strong expertise in project evaluation and strategic growth.

Gord Steblin – Chief Financial Officer

A CPA with over 30 years in mining finance, Gord Steblin ensures sound financial governance and supports Finlay’s budgeting, reporting and fundraising activities. He serves as CFO for several other exploration-stage companies.

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Rob Crayfourd and Keith Watson of Golden Prospect Precious Metals and CQS Natural Resources Growth and Income share their thoughts on gold and silver.

Honing in on where they see potential in terms of stocks, the co-fund managers said they currently favor producers with strong management, a good orebody and a positive growth profile.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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Canada’s resource sector is an integral part of the national economy, contributing billions to the country’s GDP.

The nation has also established a global reputation as one of the world’s top mining jurisdictions. This classification is attributed to its abundant resources, well-trained and high-tech workforce and political stability.

When it comes to mining in Canada, most people think of BC’s gold and copper mines, Ontario’s nickel and zinc industry or Québec’s world-class gold-producing region of Abitibi — but it goes far beyond that.

Over 200 mines are in operation across Canada, producing more than 60 minerals and metals, including potash and uranium in Saskatchewan, diamonds in the Northwest Territories and cobalt, nickel and zinc in Manitoba.

These resources are used in myriad applications, including construction, automotive and green technologies.

In May, the Mining Association of Canada (MAC) released its Mining Story 2025 report, which outlines the current state of the mining industry in Canada, including its challenges and successes.

Canadian mining by the numbers

Nearly three-quarters of a million people are employed as a result of the Canadian mining sector, including 430,000 working directly with mining companies. According to the MAC, the mining sector contributed C$59.7 billion to the Canadian economy in 2023, representing a 36 percent increase over the preceding decade.

While these contributions are important on a national scale, they become even more significant on a provincial level, where local and regional economies directly benefit as workers support businesses in their communities.

Ontario led the way in 2023, producing C$15.7 billion worth of metals and minerals, followed by Québec with C$11.3 billion and BC with C$5.1 billion. However, the MAC report also outlines how important the resource sector is to Canada’s smaller provinces and territories. In 2023, the mining industry was responsible for 13 percent of the Yukon’s GDP, 22 percent of the Northwest Territories’ GDP and an impressive 43 percent of Nunavut’s GDP.

When it comes to the value added to Canada’s GDP, extraction contributed C$54.8 billion in 2023, with the MAC noting it is a larger contributor than non-residential construction and chemical manufacturing.

These figures are further bolstered by an additional C$21 billion from primary manufacturing, including smelting, refinement and the production of cement, concrete and glass.

There’s also C$32.4 billion from downstream manufacturing, which comprises secondary metal products like pipes, wire and foundry products, as well as tertiary products such as cutlery, tools and hardware.

The MAC states that contributions from mining, quarrying and oil and gas extraction accounted for 5.1 percent of Canada’s GDP in 2023, which is within the 4.9 to 5.3 percent range seen since 2012.

Challenges and opportunities for Canadian mining

Looking ahead, the association sees both opportunities and challenges for Canada’s resource sector.

From a broad perspective, economic growth is essential for Canada to continue improving its living standards.

While the mining sector has been critical to driving Canada’s GDP since the 1980s, investment in the industry stalled following the 2008 financial crisis. With a growing focus on the energy transition and the mass adoption of green technologies, even more pressure will be placed on the resource sector in the coming years.

However, geopolitical turmoil and fragile supply chains underscore the need for domestic production, as well as increased investment in not only mining projects, but also the infrastructure to support them.

Both industry and government seem to recognize the challenges, but what are the solutions?

The Canadian government has already established several programs designed to spur investment in the resource sector, or at least drive infrastructure projects that benefit new projects.

Among them is the Critical Minerals Infrastructure Fund. It will provide up to C$1.5 billion over seven years for clean energy and transportation infrastructure. Outlined in the report are three projects that will enable mining companies to access sites more efficiently and secure energy supplies for more remote locations.

These include an access road to undeveloped copper, gold and silver deposits in Northwest BC, as well as road and electrical grid connections for lithium mines in Ontario.

Another program touched on by the MAC is the Clean Technology Manufacturing Investment Tax Credit. It was established to stimulate investment and accelerate Canadian critical mineral production, processing and recycling.

However, the program wasn’t without its flaws. Initially, the framework required that 90 percent of a project’s production come from one of six priority minerals, but as the MAC notes, copper is usually not found in those concentrations. In fact, only one advanced project or mining operation met this threshold.

The government amended the threshold to 50 percent in its 2024 fall economic update, which the MAC says should ensure copper projects benefit from the program as intended.

Canada’s mining industry needs more support

Although existing programs have been a good start, the MAC believes that more can be done to support Canada’s mining industry at a critical time. When it comes to driving investment, the association suggests Canada look to Australia for ideas on how to create a more competitive income tax framework focused on research and development.

The MAC does note that while there has been reluctance by the government to favor a particular industry in the past, it has come to recognize how critical minerals touch nearly every aspect of the Canadian economy.

The association also highlights the need for a greater government contributions, rather than relying solely on private sector investment. It points south of the border, where the US has made significant strategic commitments to improve critical mineral value chains. The report’s other suggestions include the introduction of venture capital and tailored financial instruments designed to focus on access to financing for mine production and smaller companies.

These could be targeted at critical stages of development, like feasibility studies.

Perhaps most importantly, the MAC addresses the need to reduce project friction, noting that long project timelines can impact investment and lead to the suspension or closure of projects and operations.

While the MAC states that there has been some movement in reducing red tape, there is still a greater need to accelerate project permitting, reduce duplicate studies and improve intergovernmental coordination.

Canada must boost mining self-reliance

What’s ahead for Canada’s mining sector? Its path remains uncertain.

Adjusting legal frameworks requires time, and although there has been a solid start through tax incentives, the MAC largely regards these as a foundation to build upon. It also acknowledges that the government has been receptive to dialogue with the industry as securing critical minerals emerges as an issue of national security.

The association’s report envisions a future where greater reliance is placed on domestic production and the establishment of internal frameworks to enhance the self-reliance of the Canadian mining industry.

This outcome could also indicate increased opportunities for investors.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

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As western automakers reel from yet another round of Chinese export restrictions on rare earths, the urgency to create a counterweight to Beijing’s dominance over global mineral supply chains is reaching new heights.

At the center of the conversation is a persistent and disruptive strategy: Chinese state-backed firms flood global markets with critical minerals, push prices below sustainable production levels and wipe out foreign competition.

In response, experts like Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies, are calling for a fundamentally different playbook.

In her view, it’s time for nations to coordinate their market power and engage in collective deterrence.

“If countries continue to operate independently instead of collectively, China will retain its dominant position because no single nation has enough market leverage on its own,” Baskaran argues in her recent commentary.

The scale of disruption is difficult to overstate. In just three years, global prices for core energy transition minerals have collapsed. Between May 2022 and May 2025, prices for cobalt fell nearly 60 percent. Nickel prices plunged 73 percent, while lithium prices cratered by almost 87 percent. In each case, price collapses coincided with waves of supply from China or Chinese-backed operations, forcing western producers to shut down or defer investment.

Baskaran further explains that these price dynamics aren’t accidental.

Chinese companies — which often receive subsidies, low-interest loans or direct state support — can afford to operate at near-zero or even negative profit margins, squeezing out foreign firms that need to show a return on capital.

When it comes to rare earths, with 90 percent of refining under its control, China can suppress prices long enough to bankrupt competition, then raise prices once dominance is assured.

For Baskaran, the closure of Jervois Global’s (ASX:JRV,OTC Pink:JRVMQ) cobalt mine in Idaho and BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP)Nickel West project in Australia illustrate how fragile western efforts are when exposed to this kind of strategic economic pressure.

Tariffs alone won’t cut it

To date, responses from the US have largely focused on domestic industrial policy — subsidies, tax credits and isolated tariffs. But given the country’s relatively small share of global minerals demand — just 1.7 percent for rare earths, for example — US actions alone are unlikely to move the needle.

“While tariffs can be an effective instrument, a single country acting alone is unlikely to make a significant difference for mineral prices given the small size of their offtake markets,” Baskaran stresses.

Instead, she suggests that any meaningful response must involve coordinated policy across a coalition of major consuming nations. The proposed solution is a shared “anchor market” — a bloc of like-minded countries that harmonize tariffs, coordinate investment protections and implement shared procurement rules.

If executed well, she believes this approach could flip the current dynamic, placing reciprocal pressure on China while supporting market conditions where western producers can survive.

“A unified market of this scale would be capable of challenging China’s dominance and providing the West with meaningful strategic leverage,” she adds in her piece.

Such a coalition is not hypothetical. The Minerals Security Partnership (MSP), an initiative involving 14 countries and the EU, already exists to foster cooperation on supply chain resilience.

With a combined market of nearly 2.8 billion people — double the population of China — Baskaran states that the MSP represents a latent force that, if fully activated, could counterbalance Chinese leverage.

Leverage through scale and policy

The power of an anchor market lies in its ability to send long-term price signals and create investor certainty.

Gradual import quotas, for instance, could mandate that a growing share of mineral inputs — starting at 10 percent and scaling to 60 percent over a decade — come from within anchor market countries.

Baskaran explains that unlike tax incentives, which are temporary and non-binding, quotas offer a durable guarantee that demand will materialize, helping de-risk large-scale mineral investments.

Equally important is investment protection. Chinese firms continue to buy up critical minerals assets abroad, even in a weak price environment, ensuring that they control future supply. If this trend continues, any market-based response from the west may simply enrich Chinese shareholders in the long run.

Australia’s key role and the G7’s moment for market unity

Baskaran highlights that, among potential partners, Australia stands out.

With rich deposits of 31 critical minerals and advanced mining capabilities, it is essential to any serious diversification plan. Mining already contributes over 13 percent to its GDP, compared to just over 1 percent in the US.

Politically, Australia has taken a hardline stance on Chinese influence, from banning Huawei in 2018 to imposing university research safeguards and building a state-backed mineral reserve to reduce foreign dependency.

The G7 summit in Canada offers a unique moment to align policy. All G7 countries have identified critical minerals security as a priority. By formalizing the anchor market concept, Baskaran argues that the G7 nations and their partners could finally mount a credible economic counteroffensive: “The anchor market can shift leverage away from Beijing and toward a more resilient, rules-based minerals ecosystem.”

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Silver47 Exploration Corp. (TSXV: AGA) (OTCQB: AAGAF) (‘Silver47’) and Summa Silver Corp. (TSXV: SSVR) (OTCQX: SSVRF) (‘Summa’) (together, the ‘Companies’) are pleased to announce the closing of the previously announced brokered offering (‘Offering’) of subscription receipts of Summa (the ‘Subscription Receipts’) at a price of $0.25 per Subscription Receipt for aggregate gross proceeds of $6,900,000, including the full exercise of the over-allotment option.

The Offering was led by Research Capital Corporation (‘RCC’), as co-lead agent and sole bookrunner, and together with Haywood Securities Inc., as co-lead agent, on behalf of a syndicate of agents, including Eventus Capital Corp. (collectively, the ‘Agents’).

The Offering is being conducted in connection with Silver47 and Summa entering into an arm’s length definitive arrangement agreement dated May 12, 2025 (the ‘Arrangement Agreement’) for an at-market merger, pursuant to which Silver47 and Summa have agreed to combine their respective companies (the ‘Transaction’) by way of a court-approved plan of arrangement. The combined company (the ‘Combined Company’) is expected to continue under the name ‘Silver47 Exploration Corp.’

Under the terms of the Transaction, Summa shareholders will receive 0.452 common shares of Silver47 (each whole share, a ‘Silver47 Share’) in exchange for each Summa common share (each a ‘Summa Share’) held (the ‘Exchange Ratio’).

Each Subscription Receipt will entitle the holder, without payment of any additional consideration and without further action on the part of the holder, upon the satisfaction of the Escrow Release Conditions (as defined herein) to receive one unit of Summa (a ‘Unit’). Each Unit will consist of one common share of Summa (a ‘Summa Share’) and one-half of one common share purchase warrant (each whole warrant, a ‘Summa Warrant’). Following the completion of the Transaction, each Summa Warrant will entitle the holder to purchase one common share of Silver47 Share (a ‘Warrant Share’) at a post-Exchange Ratio adjustment exercise price of $0.7964 per Warrant Share until the date that is 24 months following the satisfaction or waiver of the Escrow Release Conditions (defined herein).

The net proceeds of the Offering will be used to fund advancement of the Combined Company’s silver project portfolio in the United States, and for working capital and general corporate purposes.

The gross proceeds of the Offering, less the Agents’ expenses, 50% of the cash commission and 50% of an advisory fee payable by Summa to RCC will be deposited and held by Odyssey Trust Company (the ‘Escrow Agent’) in an interest bearing account (the ‘Escrowed Funds’) pursuant to the terms of a subscription receipt agreement entered into on the date hereof among Summa and RCC, and the Escrow Agent. The Escrowed Funds (less 50% of the remaining cash commission, 50% of the remaining advisory fee and any remaining costs and expenses of the Agents) will be released from escrow to the Combined Company, as applicable, upon satisfaction of the following conditions (collectively, the ‘Escrow Release Conditions’) by September 15, 2025 or such other date as may be mutually agreed to in writing between Summa, Silver47, and RCC (the ‘Escrow Release Deadline’), including:

(A) the completion, satisfaction or waiver of all conditions precedent to the Transaction in accordance with the Arrangement Agreement, to the satisfaction of RCC;

(B) the receipt of all required shareholder and regulatory approvals, including, without limitation, the conditional approval of the Exchange for the Transaction;

(C) the securities of the Silver47 or the Combined Company issued in exchange for the securities of Summa not being subject to any statutory or other hold period in Canada;

(D) the representations and warranties of Summa and Silver47 contained in the agency agreement to be entered into in connection with the Offering being true and accurate in all material respects, as if made on and as of the escrow release date; and

(E) Summa, Silver47 and RCC having delivered a joint notice and direction to the Escrow Agent, confirming that the conditions set forth in (A) to (D) above have been met or waived.

If (i) the satisfaction of the Escrow Release Conditions does not occur on or prior by September 15, 2025, or such other date as may be mutually agreed to in writing between Summa, Silver47, and RCC or (ii) Summa has advised RCC and/or the public that it does not intend to proceed with the Transaction (in each case, the earliest of such times being the ‘Termination Time’), then all of the issued and outstanding Subscription Receipts shall be cancelled and the Escrowed Funds shall be used to pay holders of Subscription Receipts an amount equal to the issue price of the Subscription Receipts held by them (plus an amount equal to a pro rata share of any interest or other income earned thereon). If the Escrowed Funds are not sufficient to satisfy the aggregate purchase price paid for the then issued and outstanding Subscription Receipts (plus an amount equal to a pro rata share of the interest earned thereon), it shall be Summa’s sole responsibility and liability to contribute such amounts as are necessary to satisfy any such shortfall.

In connection with the Offering, Summa paid to the Agents a cash commission of 369,150 and issued to the Agents 1,476,000 broker warrants (the ‘Broker Warrants’). In addition, the Agents received an advisory fee of $37,000 plus tax and 148,000 advisory broker warrants on the same terms as the Broker Warrants. Each Broker Warrant entitles the holder to acquire following closing of the Transaction one Silver47 Share at a post-Exchange ratio adjustment exercise price of $0.5531 per Silver47 Share for a period of 24 months following the waiver of the Escrow Release Conditions.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘1933 Act’) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

The Subscription Receipts and the Summa Shares, Summa Warrants and Warrant Shares underlying the Subscription Receipts, will be subject to a statutory four-month hold period in accordance with Canadian securities legislation, or until such securities are exchanged or adjusted pursuant to the Transaction.

Certain insiders of Summa acquired Subscription Receipts pursuant to the Offering and as such the Offering is considered a related party transaction with the meaning of TSX Venture Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101’). Neither Summa, nor to the knowledge of Summa after reasonable inquiry, a related party, has knowledge of any material information concerning Summa or its securities that has not been generally disclosed. Summa has relied on exemptions from the formal valuation and minority approval requirements of sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation, based on a determination that the fair market value of the participation in the Offering by insiders will not exceed 25% of the market capitalization of the Summa, as determined in accordance with MI 61-101. Summa did not file a material change report more than 21 days before the expected closing of the Offering because the details of the participation therein by related parties of Summa were not settled until shortly prior to closing of the Offering and the parties wished to close on an expedited basis for business reasons.

Technical Disclosure and Qualified Persons

The scientific and technical information contained in this news release with respect to Silver47 has been reviewed and approved by Alex S. Wallis, P.Geo., is Vice President of Exploration for Silver47, a ‘qualified person’ as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’). The scientific and technical information contained in this news release with respect to Summa has been reviewed and approved by Galen McNamara, P. Geo., Chief Executive Officer of Summa, a ‘qualified person’ as defined by NI 43-101.

About Silver47

Silver47 Exploration Corp. is a Canadian-based exploration company that wholly-owns three silver and critical metals (polymetallic) exploration projects in Canada and the US. These projects include the Red Mountain Project in southcentral Alaska, a silver-gold-zinc-copper-lead-antimony-gallium VMS-SEDEX project. The Red Mountain Project hosts an inferred mineral resource estimate of 15.6 million tonnes at 7% ZnEq or 335.7 g/t AgEq, totaling 168.6 million ounces of silver equivalent, as reported in the NI 43-101 Technical Report dated January 12, 2024. Silver47 also owns the Adams Plateau Project in southern British Columbia, a silver-zinc-copper-gold-lead SEDEX-VMS project, and the Michelle Project in the Yukon Territory, a silver-lead-zinc-gallium-antimony MVT-SEDEX project. For detailed information regarding the resource estimates, assumptions, and technical reports, please refer to the NI 43-101 Technical Report and other filings available on SEDAR at www.sedarplus.ca. The Silver47 Shares are traded on the TSXV under the ticker symbol AGA.

About Summa

Summa Silver Corp. is a junior mineral exploration company. Summa owns a 100% interest in the Hughes Project located in central Nevada and the Mogollon Project located in southwestern New Mexico. The high-grade past-producing Belmont Mine, one of the most prolific silver producers in the United States between 1903 and 1929, is located on the Hughes Project. The Mogollon Project is the largest historic silver producer in New Mexico. Both projects have remained inactive since commercial production ceased and neither have seen modern exploration prior to Summa’s involvement.

Silver47 Contact Information
Gary R. Thompson
Director and CEO
gthompson@silver47.ca
403-870-1166

Silver47 Investor Relations Contact:
Kristina Pillon
info@silver47.ca
Twitter: @Silver47co
LinkedIn: Silver47

Summa Silver Contact Information
Galen McNamara
Chief Executive Officer
info@summasilver.com
www.summasilver.com

Summa Silver Investor Relations Contact:
Giordy Belfiore
Corporate Development and Investor Relations
604-288-8004
giordy@summasilver.com
www.summasilver.com
Follow Summa Silver on X: @summasilver
LinkedIn: https://www.linkedin.com/company/summa-silver-corp/
Website: https://www.summasilver.com

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

Forward looking and other cautionary statements

Certain information set forth in this news release contains ‘forward‐looking statements’ and ‘forward‐looking information’ within the meaning of applicable Canadian securities legislation and applicable United States securities laws (referred to herein as forward‐looking statements). Except for statements of historical fact, certain information contained herein constitutes forward‐looking statements which includes, but is not limited to, statements with respect to: the potential benefits to be derived from the Transaction, the goals, synergies, strategies, opportunities, profile, mineral resources and potential production, project timelines, prospective shareholding and comparables to other transactions; the closing of the Transaction, including receipt of all necessary court, shareholder and regulatory approvals, and the timing thereof; the future financial or operating performance of the Companies and the Companies’ mineral properties and project portfolios; Silver47’s intended use of the net proceeds from the sale of Subscription Receipts; the ability to satisfy the Escrow Release Conditions; the anticipated benefits and impacts of the Offering; the results from work performed to date; the estimation of mineral resources and reserves; the realization of mineral resource and reserve estimates; the development, operational and economic results of technical reports on mineral properties referenced herein; magnitude or quality of mineral deposits; the anticipated advancement of the Companies’ mineral properties and project portfolios; exploration expenditures, costs and timing of the development of new deposits; underground exploration potential; costs and timing of future exploration; the completion and timing of future development studies; estimates of metallurgical recovery rates; exploration prospects of mineral properties; requirements for additional capital; the future price of metals; government regulation of mining operations; environmental risks; the timing and possible outcome of pending regulatory matters; the realization of the expected economics of mineral properties; future growth potential of mineral properties; and future development plans.

Forward-looking statements are often identified by the use of words such as ‘may’, ‘will’, ‘could’, ‘would’, ‘anticipate’, ‘believe’, ‘expect’, ‘intend’, ‘potential’, ‘estimate’, ‘budget’, ‘scheduled’, ‘plans’, ‘planned’, ‘forecasts’, ‘goals’ and similar expressions. Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such information is provided. Assumptions and factors include: the successful completion of the Transaction (including receipt of all regulatory approvals, shareholder and third-party consents), , the integration of the Companies, and realization of benefits therefrom; the Companies’ ability to complete its planned exploration programs; the absence of adverse conditions at mineral properties; no unforeseen operational delays; no material delays in obtaining necessary permits; the price of gold remaining at levels that render mineral properties economic; the Companies’ ability to continue raising necessary capital to finance operations; and the ability to realize on the mineral resource and reserve estimates. Forward‐looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward‐looking statements. These risks and uncertainties include, but are not limited to: risks related to the Transaction, including, but not limited to, the ability to obtain necessary approvals in respect of the Transaction and to consummate the Transaction; integration risks; general business, economic and competitive uncertainties; the actual results of current and future exploration activities; conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties and management’s ability to anticipate and manage the foregoing factors and risks. Although the Companies have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers are advised to study and consider risk factors disclosed in Silver47’s management’s discussion and analysis for the three and six months ended January 31, 2025 and 2024, and Summa’s annual information form dated December 20, 2024 for the fiscal year ended August 31, 2024.

There can be no assurance that forward‐looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Companies undertake no obligation to update forward‐looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The forward-looking statements contained herein are presented for the purposes of assisting investors in understanding the Companies’ plans, objectives and goals, including with respect to the Transaction, and may not be appropriate for other purposes. Forward-looking statements are not guarantees of future performance and the reader is cautioned not to place undue reliance on forward‐looking statements. This news release also contains or references certain market, industry and peer group data, which is based upon information from independent industry publications, market research, analyst reports, surveys, continuous disclosure filings and other publicly available sources. Although the Companies believes these sources to be generally reliable, such information is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other inherent limitations and uncertainties. The Companies have not independently verified any of the data from third party sources referred to in this news release and accordingly, the accuracy and completeness of such data is not guaranteed.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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Hempalta Corp. (TSXV: HEMP) (‘Hempalta’ or the ‘Company’), a Canadian-based provider of nature-based carbon credit solutions, is pleased to announce an open call for strategic partnerships to support the scale-up of its closed-loop, on-farm carbon removal program — already operating with 13 Alberta farms and over 10,000 acres of regenerative hemp cultivation.

The initiative builds on Hempalta’s existing verified success and aims to expand to 25,000 acres in Alberta, delivering high-durability carbon removal credits through the transformation of agricultural waste into biochar — a nature-based climate solution recognized for its permanence and co-benefits to soil health.

Using a full-circle model, industrial hemp is grown, harvested, converted to biochar on the same farm, and reintroduced into the soil – turning agricultural biomass into a long-term carbon sink while enriching farmland and reducing waste.

Partnership opportunities are open in the following areas:

  • Farming & Indigenous Partnerships — Growers interested in adding a minimum of 1,000 acres of hemp to their crop rotation, regenerative agriculture and on-farm biochar systems.
  • Technology Innovators — Biochar tech companies offering mobile or modular pyrolysis systems for on-farm biomass conversion. Ideal partners enable field-level biochar deployment, turning agricultural waste into long-term carbon storage. This also supports seamless integration with MRV systems, enabling full traceability, auditability, and credit issuance across distributed farm sites.
  • Corporate ESG Leaders — Community-Rooted Climate Partners – Companies looking to support circular, community-driven climate solutions. These partners can co-fund biochar deployment, purchase branded or unbranded carbon credits, or co-invest in regenerative agriculture infrastructure — with measurable social impact, Indigenous engagement, and long-term carbon outcomes tied to Alberta-based projects.

‘We’re already working with over a dozen farms in Alberta and we’ve verified more than 44,000 tonnes of carbon removal,’ said Darren Bondar, CEO of Hempalta. ‘This isn’t theory, it’s the planned evolution and it’s happening. It’s one of the most scalable nature-based carbon models in Canada and will set the precedent for our other global partnerships that are already part of our regenerative agriculture program,’ said Darren Bondar, CEO of Hempalta.

‘By closing the loop on-farm, we reduce waste, regenerate soil, and create high-integrity, carbon credits designed to meet Alberta’s TIER compliance standards — with full traceability and permanence. Our credits are also structured to meet evolving global standards under the Voluntary Carbon Market and Article 6.2 of the Paris Agreement, making them ideal for both Alberta-based emitters and international ESG buyers. We’re now opening the door for more partners to scale it with us.’

As Alberta navigates a wave of incoming data centers and industrial growth, Hempalta believes the province must also scale its carbon infrastructure in parallel. ‘You can’t unlock the next generation of digital infrastructure without climate infrastructure to balance it,’ Bondar added. ‘Our project is that solution — made in Alberta, built on nature, and future-proofed through technology.’

Hempalta’s carbon credits are verified under ISO 14064-2 by Control Union and tracked through its blockchain-enabled registry, Trusted Carbon. The Company is actively securing multi-year offtake partners for a proposed $45M, 5-year carbon credit delivery framework, subject to regulatory review and market demand.

Interested partners can learn more or submit inquiries at:
carboncredits@hempalta.com | www.hempalta.com

About Hempalta Corp.

Hempalta Corp. (TSXV: HEMP) is advancing scalable, nature-based carbon removal through industrial hemp and on-farm biochar deployment. Through its subsidiary Hemp Carbon Standard, the Company provides ISO-certified carbon credits verified via AI, satellite monitoring, and blockchain infrastructure.

Media Contact:
Darren Bondar
CEO, Hempalta Corp.
invest@hempalta.com
www.hempalta.com | www.hempcarbonstandard.org | www.trustedcarbon.org |

TSXV: HEMP

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

Forward-Looking Information

This news release contains statements and information that, to the extent they are not historical fact, may constitute ‘forward-looking information’ within the meaning of applicable securities legislation. Forward-looking information is typically, but not always, identified by the use of words such as ‘expects,’ ‘plans,’ ‘continues,’ ‘intends,’ ‘anticipates,’ ‘potential,’ ‘aims,’ ‘will,’ and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Forward-looking information in this news release includes, but is not limited to, statements regarding: the Company’s ability to secure new strategic partnerships; the Company focusing on nature-based carbon credit generation; the Company focusing on scaling carbon credit issuance; the sale of verified carbon credits; the Company seeking to establish multi-year offtake agreements; the Company remaining focused on unlocking long-term value through its pivot to carbon credit markets; the sale of TIER-eligible and voluntary market carbon credits; the long-term permanence of biochar-based removals; the scalability of its nature-based carbon model and the Company building a scalable platform to support nature-based climate solutions. Such forward-looking information is based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: continued support from major shareholders and new investors; demand for nature-based carbon removal credits; successful onboarding of additional farmers and indigenous partners; favorable regulatory conditions; availability and deployment of biochar systems at scale; supportive market conditions and regulatory alignment in Alberta and internationally; and Hempalta’s ability to execute its strategic plan and secure necessary financing or credit offtake agreements on reasonable terms. Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Actual results may vary from those currently anticipated due to a number of factors and risks, including, but not limited to: economic conditions and capital market volatility; changes in carbon credit market demand or pricing; regulatory changes; operational risks, including the ability to successfully implement the Hemp Carbon Standard program at scale; the Company has limited financial resources and may require additional funds to continue operating; the Company may not generate sufficient revenue to maintain operations; the forecasts and models of the Company could be inaccurate; the risk that the Company may not be able to sell carbon removal credits as anticipated or at all; inability to retain key personnel; delays in technology deployment or verification; economic volatility or disruptions to financing; and weather-related challenges impacting hemp cultivation. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

Source

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Element79 Gold Corp. (CSE: ELEM | FSE: 7YS0 | OTC: ELMGF) (‘Element79 Gold’, the ‘Company’) is pleased to announce that it has entered into a Letter of Intent (the “LOI”), dated June 9, 2025, with a private party (the “Vendor”) to acquire a 100% interest in the Gold Mountain Project (the “Project”), a strategically located gold asset in Lander County, Nevada, USA.

About Gold Mountain

The Gold Mountain Project is comprised of 34 unpatented lode mining claims spanning approximately 284 hectares in the historically prolific Battle Mountain mining district of Lander County, Nevada. Centered on the Eocene-aged Gold Mountain stock, the project lies near the past-producing Dewitt Mine and features structurally-controlled oxidized sulfide bodies and porphyry-style mineralization. Historic exploration has been conducted by operators including Oro Nevada, Gold Ventures Inc., and Placer Dome, with significant past intercepts including 10.67 metres at 0.99 g/t Au. More recent work by the Vendor in 2023 and 2024 included detailed geologic mapping, collection of 116 rock samples, and submission of a Notice of Intent to the Bureau of Land Management (BLM), which was approved for drilling activity.

The Gold Mountain Project presents compelling upside potential with both high-grade structurally controlled Au-Ag-Pb mineralization and evidence of porphyry-style mineralization within and around the Gold Mountain intrusive. The property is accessible via well-developed infrastructure near the town of Battle Mountain and benefits from proximity to major mining operations within the region. A suggested first-move exploration plan includes detailed mapping and an RC drill program to delineate targets along historically mineralized structures and test conceptual porphyry and skarn-type systems.

There is no historical technical report, although the vendor has completed a significant amount of work towards completing a 43-101 compliant Property of Merit report. The Company aims to complete this report in 2025, post-acquisition of the Gold Mountain asset.

Transaction Summary

Under the terms of the LOI, Element79 Gold intends to acquire all rights, title, and interest in and to the Gold Mountain Project, comprising 34 unpatented mining claims, along with all related data, permits, and equipment.

As consideration for the acquisition, Element79 Gold will issue 100,000,000 common shares to the Vendor at a deemed price per share equal to the lesser of:

  • C$0.02, or
  • The volume-weighted average price (VWAP) of the Company’s shares over the ten (10) trading days preceding the closing date, based on the closing price of the last trading day prior to closing, subject to compliance with the policies of, and approval of the Canadian Securities Exchange (‘CSE’).

The Company has confirmed through its due diligence that this transaction will not create a new Significant Shareholder or Control Person per the definitions found in National Instrument 55-104. Hold Periods for the new shareholders created through this transaction are being negotiated and will be agreed upon in the forthcoming Definitive Agreement as part of the completion of this transaction.

There are no commissions payable for arranging this transaction.

Conditions Precedent

The completion of the transaction is subject to the satisfaction of customary conditions, including but not limited to:

  • Completion of satisfactory due diligence by the Company;
  • Execution of a definitive asset purchase agreement;
  • Receipt of all required regulatory and corporate approvals; and
  • Closing is targeted to occur on or around June 30, 2025, subject to holidays and standard processing times in Nevada and Canada.

Exclusivity and Confidentiality

The Vendor has agreed to a 180-day exclusivity period during which it will not negotiate or solicit offers from third parties concerning the Gold Mountain Project. Both parties have also agreed to maintain confidentiality regarding the proposed transaction, subject to legal disclosure requirements.

Strategic Rationale

James C. Tworek, CEO and Director of Element79 Gold, commented:
‘We are excited to announce this acquisition, which drives our corporate pivot back to a primary focus Nevada-focused strategy. Gold Mountain is drill ready and upon closing, we will work towards a drilling program later this year. It also consolidates our position within a well-known and highly prospective region for mineral resource development, with meaningful upside potential. We look forward to completing our due diligence and closing expeditiously.’

Sale of Non-Core Elder Creek Claims

The Company has entered into a settlement agreement with a third party, NQ Holdings Inc., to fully and finally resolve a dispute related to overlapping mining claims in Lander County, Nevada. As part of the terms, the Company has agreed to transfer and abandon its interest in the EC01 to EC23 unpatented mining claims, known collectively as the “Elder Creek Claims.” In consideration, Element79 received a cash payment of USD $14,000 from NQ Holdings Inc.

The Elder Creek Claims, located adjacent to the Last 7 to Last 39 claims held by NQ Holdings, were deemed to no longer hold strategic value for the Company. The transaction allows Element79 to resolve the matter amicably without further legal proceedings and to maintain its focus on higher-priority assets within its Nevada portfolio and its Lucero project in Peru.

Qualified Person

The technical information in this release has been reviewed and approved by Kim Kirkland, Fellow of AusIMM #309585, Chief Operating Officer of Element79 Gold Corp, and a ‘qualified person’ as defined by National Instrument 43-101.

About Element79 Gold Corp.

Element79 Gold Corp. is a mining company focused on the exploration and development of high-grade gold and silver assets. Its principal asset is the past-producing Lucero Project in Arequipa, Peru, where it aims to resume operations through both conventional mining and tailings reprocessing. In the United States, the Company holds interests in multiple projects along Nevada’s Battle Mountain Trend. Additionally, Element79 Gold has completed the transfer of its Dale Property in Ontario to its wholly owned subsidiary, Synergy Metals Corp., and is progressing through the Plan of Arrangement spin-out process.

For more information about Element79 Gold Corp., please visit: www.element79.gold

For Further Information, Please Contact :

James C. Tworek
Chief Executive Officer
E-mail: jt@element79.gold

Investor Relations Department
Phone: +1.403.850.8050
E-mail: investors@element79.gold

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘anticipate,’ ‘plan,’ ‘continue,’ ‘expect,’ ‘estimate,’ ‘objective,’ ‘may,’ ‘will,’ ‘project,’ ‘should,’ ‘predict,’ ‘potential’ and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company’s exploration plans. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on these statements because the Company cannot provide assurance that they will prove correct. Forward-looking statements involve inherent risks and uncertainties, and actual results may differ materially from those anticipated. Factors that could cause actual results to differ include conditions in equity financing markets, and receipt of regulatory and shareholder approvals. These forward-looking statements are made as of the date of this press release, and, except as required by law, the Company disclaims any intent or obligation to update publicly any forward-looking statements.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source

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Questcorp Mining (CSE:QQQ,OTC:QQCMF,FSE:D910) is a Canadian junior explorer advancing two promising projects in mining-friendly jurisdictions: the high-grade La Union gold-silver-lead-zinc project in Mexico’s Sonoran Gold Belt and the North Island copper project in British Columbia, prospective for porphyry and skarn systems.

Focused on near-surface mineralization with proven geologic continuity, Questcorp is strategically positioned near infrastructure in major metal belts. With gold near record highs and a global copper crunch looming, the company aims to unlock outsized value through disciplined exploration and a tightly held share structure.

Location of Questcorp MiningLa Union gold project location

The La Union gold project is a 2,604-hectare, road-accessible CRD-style target on the edge of Mexico’s prolific Sonoran Gold Belt. Surrounded by major mines like La Herradura (6.7 Moz) and San Francisco (1.4 Moz), the property hosts historic underground production by Peñoles and others, with ~50,000 oz reportedly mined in the 1950s at grades of 7–20 g/t gold.

Company Highlights

  • Flagship Asset – La Union Gold Project (Mexico): A high-grade carbonate replacement gold system in the Sonoran Gold Belt, boasting historical production, strong geologic signatures and drill-ready targets with >80 g/t gold surface samples.
  • Copper Exposure in Tier-1 Jurisdiction: The North Island copper project lies just north of BHP’s historic Island Copper Mine. It shows promising porphyry and skarn-style mineralization and is adjacent to Northisle’s multi-million-ounce copper-gold deposits.
  • Tight Capital Structure and Strategic Investors: ~63 million shares outstanding with approximately 90 percent held by long-term, high-net-worth and international investors with 3-5 year investment window .
  • Execution-focused Management: Led by Founding President & CEO Saf Dhillon, a veteran builder of public companies, and geologist Tim Henneberry, with over 45 years of global exploration success.
  • Immediate Catalysts: Near-term exploration at both assets with active permitting, drill programs and news flow expected throughout 2025.

This Questcorp Mining profile is part of a paid investor education campaign.*

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FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (‘FPX‘ or the ‘Company‘) is pleased to announce successful production of additional battery-grade nickel sulphate from its Baptiste Nickel Project (‘Baptiste‘ or the ‘Project‘). Building on the success of previous testing campaigns, a production run was completed to produce larger quantities of nickel sulphate crystals. The nickel sulphate samples, which meet the strict target specifications for battery applications, will be provided to selected prospective downstream partners including pCAM producers, battery companies, and automakers pursuing supply security, traceable sourcing, and low carbon intensity production.

‘The production of high-purity nickel sulphate further positions us to engage in strategic discussions with prospective downstream partners across the global EV supply chain,’ commented Martin Turenne, FPX Nickel’s President and Director. ‘This milestone further demonstrates the strategic flexibility of the Baptiste awaruite concentrate and the technical maturity of the awaruite refining process.’

Overview

As described in the Company’s October 15, 2024 news release, FPX completed a pilot-scale refining test program to advance the technical maturity of refining the Baptiste awaruite concentrate to nickel sulphate. This test program included continuous, pilot-scale leaching to produce low-impurity leach solution. A small portion of the leach solution was further advanced through purification and crystallization operations to nickel sulphate crystals to demonstrate the technical viability of the purification process. The remainder of leach solution was retained for future testing including continuous, pilot-scale processing of the purification and crystallization area, ensuring the final refinery strategy is supported by purification and crystallization requirements defined in collaboration with FPX Nickel’s current and prospective downstream partners.

FPX recently re-engaged Sherritt Technologies Ltd. to conduct an additional nickel sulphate production run, building on Sherritt’s successful completion of the previous pilot-scale refining test program. In the current testing campaign, a portion of this remaining leach solution has been processed to produce larger quantities of nickel sulphate crystals. As with previous testing campaigns, the quality of the produced nickel sulphate, presented in Table 1, meets the strict target specifications for battery applications. To further advance the produced qualification process, the nickel sulphate samples will be provided to prospective downstream partners to ensure the quality and suitability of the nickel sulphate for their battery manufacturing process. Figure 1 shows a portion of the nickel sulphate samples produced.

Qualified Person

The metallurgical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101: Standards of Disclosures for Minerals Projects of the Canadian Securities Administrators (‘NI 43-101‘). Testwork was supervised, reviewed, and verified by Kyle D. Marte, P.Eng., FPX Nickel’s Director of Metallurgy and a ‘Qualified Person’ as defined by NI 43-101.

About the Baptiste Nickel Project

The Company’s Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni3Fe) hosted in an ultramafic/ophiolite complex. The absence of sulphur and our ability to connect to the BC Hydro grid means that Baptiste has the potential to be one of the lowest carbon-intensive nickel producers in the world and will produce a very high-grade product that does not require any intermediate smelting or complex refining. The Baptiste mineral claims cover an area of 453 km2 west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US$55 million has been spent on the exploration and development of Baptiste.

FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company’s website at https://fpxnickel.com/.

On behalf of FPX Nickel Corp.

‘Martin Turenne’
Martin Turenne, President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered ‘forward-looking information’ within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company’s periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF) (FSE: AHZ0) (‘Blackrock’ or the ‘Company’) announces the final set of high-grade silver and gold drill intercepts from its recently completed M&I Conversion Program (as defined herein) at its 100% owned Tonopah West project (‘Tonopah West’) located in Nye and Esmeralda Counties, Nevada, United States.

HIGHLIGHTS:

  • TXC25-139 cut 9.05 metres grading 367 grams per tonne (g/t) silver equivalent (AgEq) (182.8 g/t silver (Ag) & 2.04 g/t gold (Au)) from 187.5 metres, including 0.82 metres grading 2,886 g/t AgEq (1,411 g/t Ag & 16.13 g/t Au), Ag/Au ratio 90:1;
  • TXC25-150 drilled 2.84 metres grading 671.5 AgEq (367 g/t Ag & 3.41 g/t Au) from 162.3 metres, including 0.76 metres grading 1,554 g/t AgEq ( 819 g/t Ag & 8.14 g/t Au);
  • TXC25-146 intercepted 1.16 metres of 1,111 g/t AgEq (615 g/t Ag & 5.50 g/t Au) from 189.5 metres;
  • Results from the entirety of the M&I Conversion Program have validated the geologic model, successfully establishing continuity of the high-grade shoots bearing robust geometry over 350 metres. The shoots remain open to the Northwest and downdip;
  • Significant new zones of near-surface mineralization were encountered during the M&I Conversion Program at higher-than-average grades updip from the existing resource shell;
  • Modelling of the M&I Conversion Program drillholes is now underway with an updated mineral resource estimate on Tonopah West on track for Q3, 2025; and
  • Assay results for 7 drillholes from the Company’s Northwest step out resource expansion area are currently pending. (see February 24, 2025 news release)

The Company has completed its in-fill drilling program (the ‘M&I Conversion Program‘) at Tonopah West which commenced in mid July 2024 and consisted of 62 drillholes totalling 12,580 metres (41,271 feet) within the shallow southern portion of the Bermuda-Merten vein group (‘DPB’) resource area (the ‘M&I Conversion Area’). The objective of the M&I Conversion Program is to convert between 1.0 and 1.5-million tonnes of material from inferred mineral resources to measured and indicated mineral resources. The M&I Conversion Area represents the initial years of anticipated production at Tonopah West based on the mine plan laid out in the Company’s Preliminary Economic Assessment on Tonopah West (see September 4, 2024 news release).

Andrew Pollard, the Company’s President and Chief Executive Officer, stated: ‘With all assays now received from our M&I Conversion Program, we’ve validated our geologic model at Tonopah West and confirmed continuous high-grade mineralization over a 350-metre zone. Results from this program featured standout grades that reinforce the Tonopah West project’s position as one of the top undeveloped silver assets in the sector. In addition to strengthening confidence in known zones through tighter drill spacing, the program also outlined new near-surface zones of ultra-high-grade gold and silver mineralization, representing meaningful new tonnage potential. These results will be incorporated into an updated mineral resource estimate on Tonopah West anticipated to be completed Q3 2025, aimed at upgrading significant tonnage to the measured and indicated categories to help de-risk the early years of anticipated production.’

Table 1: Tonopah West Assay Intercepts using 150 g/t AgEq cut off

Drillhole ID Hole
Type
Program From
(m)
To (m) Drill
Interval
(m)
Ag (g/t) Au (g/t) AgEq
(g/t)(2)(3)
TXC25-139 RC/Core(1) M&I Conversion 187.54 196.60 9.05 182.8 2.038 366.6
Including 187.54 188.37 0.82 1,411.0 16.133 2,866.4
TXC25-141 RC/Core(1) M&I Conversion 273.59 275.17 1.59 106.6 0.787 177.6
TXC25-141 RC/Core(1) M&I Conversion 447.66 448.27 0.61 694.9 7.512 1,372.5
Including 447.97 448.27 0.31 1,226.0 13.733 2,464.9
TXC25-142 RC/Core(1) M&I Conversion 347.08 347.60 0.52 5.1 1.610 150.3
TXC25-142 RC/Core(1) M&I Conversion 361.01 361.80 0.79 597.6 4.540 1,007.1
Including 361.01 361.37 0.37 1,122.0 8.160 1,858.1
TXC25-146 RC/Core(1) M&I Conversion 189.50 190.65 1.16 615.0 5.497 1,110.9
Including 189.95 190.65 0.70 920.1 8.330 1,671.6
TXC25-147 RC/Core(1) M&I Conversion 148.19 151.85 3.66 176.7 1.228 287.5
Including 150.88 151.43 0.55 704.0 4.250 1,087.4
TXC25-147 RC/Core(1) M&I Conversion 182.58 183.34 0.76 277.5 5.586 781.5
Including 183.00 183.34 0.34 315.0 6.620 912.2
TXC25-148 RC/Core(1) M&I Conversion 124.66 125.43 0.76 111.0 1.270 225.6
TXC25-148 RC/Core(1) M&I Conversion 238.35 240.49 2.13 198.1 2.383 413.1
Including 238.35 238.96 0.61 512.0 5.590 1,016.3
TXC25-149 RC/Core(1) M&I Conversion 129.36 129.97 0.61 491.0 4.570 903.3
TXC25-149 RC/Core(1) M&I Conversion 238.35 239.57 1.22 93.7 1.919 266.8
TXC25-149 RC/Core(1) M&I Conversion 252.59 253.59 1.01 38.2 2.157 232.8
TXC25-150 RC/Core(1) M&I Conversion 162.37 165.20 2.84 363.6 3.413 671.5
Including 163.47 164.23 0.76 818.9 8.144 1,553.6
TXC25-151 RC/Core(1) M&I Conversion 274.47 275.42 0.95 208.7 3.149 492.8
(1)RC/Core = RC pre-collar with core tail.
(2)AgEq = Ag + Au*(Factor); where Factor = (Au Price/Ag Price)*(Au Recovery/Ag Recovery or Factor=($1900/$23)*(95%/87%)=90.21; True thickness is 90 to 100% of interval thickness based on the modelled vein geometries.
(3)Cut-off grade is 150 g/t AgEq.

The geometry of the high-grade silver and gold is sizable with high-grade shoots plunging to the northwest and showing continuity over 350 metres within the M&I Conversion Area. These shoots remain open to the northwest and open down plunge. Multiple high-grade intercepts have been returned pursuant to the M&I Conversion Program. TXC25-139 returned over 9-metres grading 183 g/t silver and 2.04 g/t gold for 367 g/t AgEq. This intercept is immediately adjacent to mineralization found in TXC25-138 (see May 8, 2025 news release) where a composite zone of 11.46 metres of 514 g/t AgEq (290 g/t Ag & 2.48 g/t Au) was encountered. The thickness of this mineralized vein is approaching those seen in the historic mining at the Victor and Ohio mines at Tonopah West where Victor was 24 metres thick and Ohio was 15 metres thick.

The completion of the M&I Conversion Program now allows for modelling of the vein shoots and high-grade gold and silver for an updated mineral resource estimate which is anticipated to be completed this fall. Management of the Company believes the updated mineral resource estimate will show excellent continuity between the high-grade zones and an increase in confidence of the DPB portion of the mineral resource. This information will assist in the design and implementation of an exploration decline, underground test mining and extraction of a bulk sample for metallurgical processing at Tonopah West.

Table 2 shows all of the intercepts above 150 g/t AgEq encountered pursuant to the M&I Conversion Program. Approximately 65% of the drilling returned values above 150 g/t AgEq with the remaining drillholes returning mineralization, albeit below the cutoff. No drillhole in the campaign was completely barren of gold or silver.

Table 2:Significant Assays From The M&I Conversion Program Above 150 g/t AuEq Cutt Off

Drillhole ID Hole
Type
Program From
(m)
To (m) Drill
Interval
(m)
Ag (g/t) Au (g/t) AgEq
(g/t) (2)(3)
TXC24-076 RC/Core(1) M&I Conversion 195.62 195.93 0.31 99.2 1.440 229.1
TXC24-080 RC/Core(1) M&I Conversion 367.29 369.27 1.98 174.0 0.844 250.1
TXC24-081 RC/Core(1) M&I Conversion 181.51 183.49 1.98 131.9 1.503 267.5
TXC24-085 RC/Core(1) M&I Conversion 171.60 172.67 1.07 152.7 1.613 298.2
TXC24-085 RC/Core(1) M&I Conversion 249.48 252.07 2.59 32.1 2.740 279.3
TXC24-087 RC/Core(1) M&I Conversion 172.21 174.80 2.59 1,920.9 20.262 3,748.7
Including 173.74 174.80 1.07 4,328.3 46.506 8,523.6
TXC24-090 RC/Core(1) M&I Conversion 161.85 162.92 1.07 436.0 5.110 897.0
TXC24-091 RC/Core(1) M&I Conversion 242.32 244.08 1.77 111.0 1.060 206.6
TXC24-091 RC/Core(1) M&I Conversion 249.02 252.13 3.11 350.1 3.519 667.5
Including 250.55 252.13 1.59 469.5 4.931 914.3
TXC24-092 RC/Core(1) M&I Conversion 141.64 142.77 1.13 534.0 6.910 1,157.4
TXC24-092 RC/Core(1) M&I Conversion 145.70 149.05 3.35 470.6 5.356 953.8
Including 148.32 149.05 0.73 1,706.0 19.467 3,462.1
TXC24-092 RC/Core(1) M&I Conversion 186.02 187.30 1.28 303.0 3.660 633.2
TXC24-094 RC/Core(1) M&I Conversion 213.67 215.80 2.13 92.3 1.530 230.3
TXC24-095 RC/Core(1) M&I Conversion 192.94 194.62 1.68 572.7 5.379 1,057.9
TXC24-095 RC/Core(1) M&I Conversion 195.99 197.82 1.83 147.0 2.160 341.9
TXC24-095 RC/Core(1) M&I Conversion 238.96 240.03 1.07 343.7 3.213 633.5
Including 239.48 240.03 0.55 665.0 6.230 1,227.0
TXC24-095 RC/Core(1) M&I Conversion 242.47 247.50 5.03 461.5 3.478 775.3
Including 245.36 246.13 0.76 1,362.0 9.810 2,247.0
TXC24-098 RC/Core(1) M&I Conversion 326.75 327.97 1.22 265.6 4.097 635.2
Including 327.66 327.97 0.30 1,034.0 16.067 2,483.4
TXC24-100 Core M&I Conversion 140.97 143.23 2.26 530.3 4.085 898.8
Including 141.67 142.59 0.92 943.0 7.156 1,588.5
TXC24-101 Core M&I Conversion 137.56 138.84 1.28 687.2 6.656 1,287.6
TXC24-101 Core M&I Conversion 169.26 169.56 0.31 181.0 2.970 448.9
TXC24-101 Core M&I Conversion 255.42 256.49 1.07 66.4 1.310 184.6
TXC24-102 Core M&I Conversion 152.95 153.92 0.98 628.0 4.670 1,049.3
Including 153.32 153.92 0.61 756.0 6.280 1,322.5
TXC24-103 Core M&I Conversion 232.26 233.78 1.52 134.0 1.675 285.1
Including 232.26 232.56 0.31 660.0 8.230 1,402.4
TXC24-104 Core M&I Conversion 295.20 295.60 0.40 125.0 1.610 270.2
TXC24-115 RC/Core(1) M&I Conversion 332.54 336.50 3.96 375.2 3.154 659.7
Including 332.54 333.91 1.37 624.8 5.066 1,081.8
TXC24-116 RC/Core(1) M&I Conversion 199.34 199.89 0.55 987.0 11.467 2,021.4
TXC24-116 RC/Core(1) M&I Conversion 218.12 218.69 0.58 135.0 1.440 264.9
TXC24-117 RC/Core(1) M&I Conversion 246.46 247.04 0.58 105.0 1.460 236.7
TXC24-117 RC/Core(1) M&I Conversion 261.21 263.23 2.01 1,141.0 7.139 1,785.0
Including 262.83 263.23 0.40 3,712.0 26.133 6,069.5
TXC24-118 RC/Core(1) M&I Conversion 205.98 206.35 0.37 1,610.0 15.333 2,993.2
TXC24-118 RC/Core(1) M&I Conversion 332.17 332.54 0.37 91.3 1.280 206.8
TXC24-119 RC/Core(1) M&I Conversion 370.42 375.12 4.69 379.0 3.722 714.8
Including 372.16 373.38 1.22 770.5 7.757 1,470.3
TXC24-121 RC/Core(1) M&I Conversion 262.13 266.00 3.87 179.3 1.365 302.4
TXC24-122 RC/Core(1) M&I Conversion 270.05 270.97 0.92 477.7 4.880 917.9
Including 270.66 270.97 0.31 875.0 8.880 1,676.1
TXC24-122 RC/Core(1) M&I Conversion 337.11 342.32 5.21 291.7 3.018 564.0
Including 341.59 342.32 0.73 1,834.0 18.081 3,465.1
TXC25-125 RC/Core(1) M&I Conversion 327.97 329.31 1.34 118.2 1.336 238.7
Including 328.27 328.58 0.31 432.0 4.900 874.0
TXC25-126 RC/Core(1) M&I Conversion 319.61 320.22 0.61 247.8 2.554 478.2
Including 319.92 320.22 0.31 421.0 4.380 816.1
TXC25-128 RC/Core(1) M&I Conversion 300.81 302.21 1.40 244.8 2.070 431.6
TXC25-128 RC/Core(1) M&I Conversion 348.14 348.75 0.61 300.5 3.030 573.8
TXC25-128 RC/Core(1) M&I Conversion 427.76 428.46 0.70 129.0 1.360 251.7
TXC25-129 RC/Core(1) M&I Conversion 307.24 308.15 0.91 155.5 1.322 274.8
TXC25-129 RC/Core(1) M&I Conversion 344.94 345.55 0.61 237.0 2.520 464.3
TXC25-131 RC/Core(1) M&I Conversion 319.19 319.80 0.61 292.7 2.480 516.5
Including 319.49 319.80 0.31 584.0 4.940 1,029.6
TXC25-132 RC/Core(1) M&I Conversion 437.60 438.52 0.92 125.8 1.804 288.6
TXC25-138 RC/Core(1) M&I Conversion 230.40 234.64 4.24 378.5 3.572 700.7
Including 232.72 233.02 0.31 1,805.0 15.267 3,182.2
TXC25-138 RC/Core(1) M&I Conversion 236.68 241.86 5.18 328.2 2.528 556.3
Including 238.35 238.66 0.31 1,987.0 15.000 3,340.2
TXC25-139 RC/Core(1) M&I Conversion 187.54 196.60 9.05 182.8 2.038 366.6
Including 187.54 188.37 0.82 1,411.0 16.133 2,866.4
TXC25-140 RC/Core(1) M&I Conversion 362.90 363.81 0.91 335.6 3.803 678.7
Including 362.90 363.20 0.30 371.0 4.310 759.8
TXC25-140 RC/Core1 M&I Conversion 378.11 380.09 1.98 96.0 1.215 205.6
Including 379.05 380.09 1.04 136.5 1.787 297.7
TXC25-141 RC/Core(1) M&I Conversion 273.59 275.17 1.59 106.6 0.787 177.6
TXC25-141 RC/Core(1) M&I Conversion 447.66 448.27 0.61 694.9 7.512 1,372.5
Including 447.97 448.27 0.31 1,226.0 13.733 2,464.9
TXC25-142 RC/Core(1) M&I Conversion 347.08 347.60 0.52 5.1 1.610 150.3
TXC25-142 RC/Core(1) M&I Conversion 361.01 361.80 0.79 597.6 4.540 1,007.1
Including 361.01 361.37 0.37 1,122.0 8.160 1,858.1
TXC25-146 RC/Core(1) M&I Conversion 189.50 190.65 1.16 615.0 5.497 1,110.9
Including 189.95 190.65 0.70 920.1 8.330 1,671.6
TXC25-147 RC/Core(1) M&I Conversion 148.19 151.85 3.66 176.7 1.228 287.5
Including 150.88 151.43 0.55 704.0 4.250 1,087.4
TXC25-147 RC/Core(1) M&I Conversion 182.58 183.34 0.76 277.5 5.586 781.5
Including 183.00 183.34 0.34 315.0 6.620 912.2
TXC25-148 RC/Core(1) M&I Conversion 124.66 125.43 0.76 111.0 1.270 225.6
TXC25-148 RC/Core(1) M&I Conversion 238.35 240.49 2.13 198.1 2.383 413.1
Including 238.35 238.96 0.61 512.0 5.590 1,016.3
TXC25-149 RC/Core(1) M&I Conversion 129.36 129.97 0.61 491.0 4.570 903.3
TXC25-149 RC/Core(1) M&I Conversion 238.35 239.57 1.22 93.7 1.919 266.8
TXC25-149 RC/Core(1) M&I Conversion 252.59 253.59 1.01 38.2 2.157 232.8
TXC25-150 RC/Core(1) M&I Conversion 162.37 165.20 2.84 363.6 3.413 671.5
Including 163.47 164.23 0.76 818.9 8.144 1,553.6
TXC25-151 RC/Core(1) M&I Conversion 274.47 275.42 0.95 208.7 3.149 492.8
(1)RC/Core = RC pre-collar with core tail.
(2)AgEq = Ag + Au*(Factor); where Factor = (Au Price/Ag Price)*(Au Recovery/Ag Recovery or Factor=($1900/$23)*(95%/87%)=90.21; True thickness is 90 to 100% of interval thickness based on the modelled vein geometries.
(3)Cut-off grade is 150 g/t AgEq.

Cannot view this image? Visit: https://legacyinsidershub.com/wp-content/uploads/2025/06/255788_d1bf53a51451fba6_001.jpg

Figure 1: Tonopah West project showing NI43-101 resource location and expansion potential

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/255788_d1bf53a51451fba6_001full.jpg

Figure 2 is a plan map showing the location of all the drillholes completed under the M&I Conversion Program and highlighting those reported in this news release.

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Figure 2: Drillhole location map of the M&I Conversion Program showing drillholes reported in this news release.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/255788_d1bf53a51451fba6_002full.jpg

Table 3: Tonopah West Drillhole Location Coordinates (based on GPS readings in the field, Datum UTM, NAD 1927, Zone 11)

Drillhole ID Area Program Type UTM_NAD27 E UTM_NAD27 N Elevation (m) Depth
(ft)
Depth
(m)
Azimuth Dip
TXC25-137 DPB South M&I Conversion RC/Core 477930.7 4213330.8 1776.3 1028.0 313.3 180 -62
TXC25-139 DPB South M&I Conversion RC/Core 477980.6 4213246.5 1778.4 1061.0 323.4 180 -67
TXC25-141 DPB South M&I Conversion RC/Core 477826.6 4213599.2 1770.7 1647.0 502.0 180 -62
TXC25-142 DPB South M&I Conversion RC/Core 477905.7 4213694.6 1772.9 1717.0 523.3 180 -50
TXC25-146 DPB South M&I Conversion RC/Core 478081.5 4213327.2 1780.6 912.0 278.0 180 -60
TXC25-147 DPB South M&I Conversion RC/Core 478067.5 4213281.7 1781.7 953.5 290.6 180 -60
TXC25-148 DPB South M&I Conversion RC/Core 478073.8 4213237.8 1781.8 979.0 298.4 180 -60
TXC25-149 DPB South M&I Conversion RC/Core 478101.9 4213225.4 1783.3 902.0 274.9 180 -60
TXC25-150 DPB South M&I Conversion RC/Core 478107.8 4213270.4 1783.1 897.5 273.6 180 -60
TXC25-151 DPB South M&I Conversion RC/Core 478104.9 4213335.4 1781.1 943.0 287.4 180 -60

Quality Assurance/ Quality Control

All sampling is conducted under the supervision of the Company’s project geologists, and a strict chain of custody from the project to the sample preparation facility is implemented and monitored. The RC and core samples are hauled from the project site to a secure and fenced facility in Tonopah, Nevada, where they are loaded on to American Assay Laboratory’s (AAL) flat-bed truck and delivered to AAL’s facility in Sparks, Nevada. A sample submittal sheet is delivered to AAL personnel who organize and process the sample intervals pursuant to the Company’s instructions.

The RC samples are lined out at the lab and logged in to AAL’s system. The core samples are cut using core saws and personnel at AAL’s facility in Sparks, Nevada according to the Company’s instructions delivered with each core hole.

All samples are dried, crushed to 85% passing 10 mesh (2mm) and a 250-gram sub-sample split is collected and pulverized to 200 mesh (74 micron) in a ring and puck pulverizer. Then the pulverized material is digested and analyzed for gold using fire assay fusion and an Induced Coupled Plasma (ICP) finish on a 30-gram assay split (FA-PB30-ICP). Silver is determined using five-acid digestion and ICP analysis (ICP-5AM48). Over limits for gold and silver are determined using a gravimetric finish (GRAVAU30 and GRAVAG30). Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blank, lab blank or a certified reference material approximately every 15th to 20th sample.

Qualified Persons

Blackrock’s exploration activities at Tonopah West are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. He has reviewed and approved the contents of this news release.

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Statements and Information

This news release 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 Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the Company’s strategic plans; the anticipated objectives and results from the Company’s drill programs at Tonopah West; the incorporation of the results from the M&I Conversion Program in an updated mineral resource estimate on Tonopah West and the anticipated timing of release thereof; the Company’s de-risking initiatives at Tonopah West; estimates of mineral resource quantities and qualities; estimates of mineralization from drilling; geological information projected from sampling results; and the potential quantities and grades of the target zones.

These forward-looking statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company’s operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company’s ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption ‘Risks Factors’ in the Company’s most recent Annual Information Form.

Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

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

For Further Information, Contact:

Andrew Pollard
President and Chief Executive Officer
(604) 817-6044

info@blackrocksilver.com

Source

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