Prophecy Development Corp.

Blackrock Gold Announces $1.0 Million Private Placement

Vancouver, British Columbia--(Newsfile Corp. - August 13, 2019) - Blackrock Gold Corp. (TSXV: BRC) (the "Company") is pleased to announce a non-brokered private placement (the "Offering") of up to 6,250,000 units (the "Units") at a price of $0.16 per Unit for gross proceeds of up to $1,000,000. 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 $0.25 per share for a period of three years from the date the Units are issued.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The common shares to be issued under the Offering will have a hold period of four months and one day from the closing. The net proceeds of the Offering will be used by the Company to fund the 2019 drilling program and exploration work on the Company's Silver Cloud property, and general working capital.

The Company may pay finder's fees on a portion of the Offering of up to 6% in cash in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "Exchange").

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

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 Silver Cloud property, a low-sulphidation epithermal gold & silver project located along on the established Northern Nevada Rift gold trend in north-central Nevada.

For further information, please contact:

Andrew Pollard, Chief Executive Officer
Blackrock Gold Corp.
Phone: 604 817-6044
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither 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.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements concern expected subscriptions and closing of the Offering, net proceeds from the Offering, the intended use of proceeds. 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; timing and amount of capital expenditures; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the availability of funds; the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological 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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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Prophecy Development

Prophecy Development Corp.

Prophecy Development Corp. is a diversified mining company with strategic assets across vanadium, silver and coal. The company is creating shareholder value through interests in two near-term producing vanadium and silver projects as well as one producing coal mining project. Prophecy’s Pulacayo silver project in Bolivia features a top-tier diamond drill intercept of 1,030 g/t Ag over 25m, a starter resource of over 31 Moz Ag indicated grading 455 g/t Ag and 21 Moz inferred... LEARN MORE

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