December 18, 2020, ‑ Vancouver, British Columbia.  Blackrock Gold Corp. (the “Company”) is pleased to present an update on its Victor vein target (a.k.a. Murray vein) at the Tonopah West project.

Recent developments along the eastern border of the Tonopah West project show the Victor vein extends 480 metres to the east.  Core drilling along strike of the Victor/Murray vein adjacent to Blackrock’s eastern border returned 1,079 g/t AgEq (5.19 g/t Au and 560 g/t Ag; Au/Ag=100/1) over a 0.9 metre interval in SUM20-17 (see Summa Silver (CSE: SSVR)  news release December 17, 2020).  Additional reported intercepts in the Victor/Murray zone included 582 g/t AgEq (2.41 g/t Au and 341 g/t Ag) over 0.7 metres and 6.8 metres grading 212 which included a high interval 0.8 metres of 727 g/t AgEq (3.56 g/t Au and 371 g/t Ag).

These drill intercepts confirm the Victor/Murray vein system extends to the eastern border of the Tonopah West project giving an additional 480 metres of strike on the Company’s project. Blackrock is awaiting additional assays from further drillholes from this target area.

Table 1:Victor Target – Summary of significant Au and Ag assay results using a 300 g/t AgEq cut-off grade

HOLE ID Area From (m) To (m) Length (m) Au_g/t AuEq_g/t Ag_g/t AgEq_g/t
TW20-001 Victor 554.7 557.8 3.0 2.44 4.65 221.3 464.8
TW20-001 Victor 560.8 563.9 3.0 11.52 21.98 1046.1 2197.9
Including 560.8 562.4 1.5 18.67 36.03 1736.7 3603.4
TW20-001 Victor 574.5 603.5 29.0 5.29 9.65 435.7 964.8
Including 582.2 592.8 10.7 7.94 14.17 623.1 1417.2
TW20-001 Victor 612.6 615.7 3.0 1.93 3.28 135.1 327.6
TW20-012C Victor 581.9 583.4 1.5 2.67 4.90 223.5 490.5
TW20-020C Victor 585.2 586.7 1.5 4.75 8.09 334.5 809.5
TW20-020C Victor 592.2 593.1 0.9 19.00 35.34 1634.4 3534.4
TW20-021C Victor 621.2 624.2 3.0 3.50 7.86 435.5 785.5
TW20-024C Victor 521.5 523.1 1.6 2.05 4.15 210.0 415.0
TW20-024C Victor 573.3 574.7 1.4 3.56 7.61 405.0 761.0
TW20-024C Victor 580.0 582.4 2.4 3.95 7.59 364.0 758.8
TW20-031C Victor 535.8 538.7 2.9 5.35 10.81 545.9 1081.2
TW20-041C Victor Assays Pending
TW20-061C Victor Assays Pending
AgEq_g/t = Ag_g/t + Au_g/t*100; AuEq_g/t = Au_g/t + Ag_g/t/100. True thickness unknown. NSV = No significant values

Drill results from the table are from Blackrock Gold news releases dated November 23, 2020, and July 20, 2020

VICTOR TARGET EXPANSION

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

About Blackrock Gold Corp.

Blackrock is a junior gold-focused exploration company that is on a quest to make an economic discovery. Anchored by a seasoned Board, the Company is focused on its Nevada portfolio of properties consisting of low-sulphidation epithermal gold & silver projects located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

For further information, please contact:

Andrew Pollard, President & CEO

Blackrock Gold Corp.

Phone: 604 817-6044

Email: andrew@blackrockgoldcorp.com

Forward Looking Statements

This news release contains “forward-looking statements” within the meaning of Canadian securities legislation. Such forward‑looking statements concern the Company’s strategic plans, completion and exercise of the Tonopah option agreement, timing and expectations for the Company’s exploration and drilling programs, estimates of mineralization from drilling, geological information projected from sampling results and the potential quantities and grades of the target zones. Such forward‑looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, 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; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward‑looking statements as a result of the risk factors including: the ability of the Company to complete the Tonopah lease option, 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, and general market and industry conditions. 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.