Blackrock Gold Closes Fully Subscribed Financing

Vancouver, British Columbia--(Newsfile Corp. - June 17, 2019) - Blackrock Gold Corporation (TSXV: BRC) ("Blackrock" or the "Company") is pleased to announce that further to the news release of June 4, 2019, it has closed the non-brokered private placement (the "Private Placement") of 6,000,000 units (the "Units") at a price of $0.10 per unit, for gross proceeds of $600,000. Each Unit is comprised of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share in the capital of the Company at a price of $0.16 per share, until June 17, 2022. Finder fees of 7% were paid on a portion of the Private Placement to PI Financial Corp. ($ 3,360 ) and Haywood Securities Inc. ($1,400)

The common shares comprising the Units and any shares issued upon exercise of any warrants are subject to a hold period expiring on October 18, 2019. The offering is subject to final acceptance of the TSX Venture Exchange.

Andrew Pollard, CEO and an insider of the company, has acquired an aggregate of 1,000,000 Units. This transaction constitutes a "related party transaction" under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The related party transaction is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to subsection 5.5(a) of MI 61-101, and exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to subsection 5.7(1)(a) of MI 61-101. A material change report was not filed more than 21 days prior to closing as contemplated by the related party transaction requirements under MI 61-101 as the insider participation was only recently confirmed.

For further information, please contact:

Andrew Pollard, Chief Executive Officer
Blackrock Gold Corp.
Phone: 604 817-6044
Email: [email protected]

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45662