Blackrock Silver (BRC) Corporate presentation summary

Strategic positioning and project overview

• Focused on developing high-grade, low-cost primary silver and gold assets in Nevada, with Tonopah West as the flagship project.

• Tonopah West is located in a historically prolific silver district, now consolidated under one of the largest land packages in the area.

• Aggressive resource expansion underway, with a fully financed 17,000-metre drill program targeting open vein corridors and step-outs.

• Additional exploration assets include the Silver Cloud gold project and the Tonopah North lithium project, both with significant land positions and promising drill results.

Tonopah West project economics and resources

• 2025 mineral resource estimate: 21.1M AgEq oz Indicated (1.33M tonnes @ 493 g/t AgEq) and 86.88M AgEq oz Inferred (5.14M tonnes @ 523 g/t AgEq).

• 2024 PEA base case: after-tax NPV5% of $326M, IRR of 39.2%, 8.6M AgEq oz annual production, $11.96 AISC, 2.3-year payback, and 7.8-year mine life.

• Upside scenario at higher metal prices: after-tax NPV5% of $495M and IRR of 54%.

• Metallurgy is straightforward with average recoveries of 96.1% gold and 88.9% silver; dore bars produced on site.

• Project is on private land, adjacent to infrastructure, and environmental studies are advancing towards permitting.

Financials, share structure, and market performance

• Market cap of C$825M (as of Feb 27, 2026), with 363.4M shares issued and C$25M working capital.

• Share price ranged from C$0.27 to C$2.41 over the past year, with strong institutional and management ownership (55%).

• Analyst coverage from major firms including Raymond James and RedCloud.