Mr. Chris Wright reports

DEFIANCE COMMENCES TRADING ON OTCQX

Defiance Silver Corp. has successfully completed an uplisting to the OTCQX Best Market.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for U.S. and international investors. To qualify for the OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

Chris Wright, chairman and chief executive officer, commented, "We are excited to conclude our upgrade and begin trading on the OTCQX, which will give investors better market information, transparency, liquidity and ease of trading in the company's stock."

Zacatecas update

The fully financed exploration program on the Zacatecas assets continues. Drilling commenced in early December and is well under way with a number of key target areas being tested. The company has submitted over 50 per cent of the completed holes to analytical lab facilities and expects to submit the remainder of the completed holes in the coming weeks.

Drilling has largely been focused on a 1,300-metre-by-300-metre corridor (news release May 29, 2020) targeting expansion of the existing resource estimate within historically poorly recognized gaps in the historical mine both on strike and at depth as well testing prospective structures near to the Veta Grande structure.

About Defiance Silver Corp.

Defiance Silver is an exploration company advancing its district-scale Zacatecas projects, located in the historic Zacatecas silver district and the 100-per-cent-owned Tepal gold/copper project in Michoacan state, Mexico. Defiance is managed by a team of proven mine developers with a record of exploring, advancing and developing several operating mines and advanced resource projects. Defiance's corporate mandate is to expand the Zacatecas and Tepal projects to become premier Mexican silver and gold deposits.

We seek Safe Harbor.