Blackrock’s flagship Tonopah West project consolidates the western half of the famed Tonopah Silver District within the Walker Lane trend of Nevada. Known as the Queen of the Silver Camps, the Tonopah Silver District produced over 174 million ounces of silver and 1.8 million ounces of gold from approximately 7.5 million tonnes of material, making it one of the highest-grade silver primary districts in North America. As the first group to target unmined extensions starting from the historic workings on the property since production shut down nearly 100 years ago, Blackrock has brought new life to the district, completing in excess of 150,000 metres of exploration drilling since 2020. In 2024, Blackrock released a Preliminary Economic Assessment (PEA)* that outlined an average annual production profile of 8.6 million silver equivalent ounces per year at an all-in sustaining cost of $11.96 per AgEq ounce over an 8 year mine life. The project currently hosts an indicated mineral resource estimate of 1.33 million tonnes at a block diluted grade of 220.7 grams per tonne (g/t) silver (Ag) and 2.50 g/t gold (Au) for a total of 9,459,000 ounces of silver and 107,000 ounces of gold. In addition, the project currently hosts an inferred mineral resource of 5,138,000 million tonnes at a block diluted grade of 215.1 g/t Ag and 2.85 g/t Au for a total of 35,536,000 ounces of silver and 470,000 ounces of gold.