Mr. Chris Wright reports

DEFIANCE SILVER SIGNS LONG-TERM ACCESS AGREEMENT AT ITS GREEN EARTH PROJECT, SONORA

Defiance Silver Corp. has successfully secured a long-term surface access agreement covering the Victoria target at its Green Earth project in Sonora, Mexico. Under the terms of the five-year agreement, the company has secured the right to conduct surface exploration, drilling and engineering studies at its Green Earth project.

Management commentary

"Securing surface access at Victoria is an important step in unlocking the value of the Green Earth project. This agreement allows us to advance Victoria in a disciplined, capital-efficient manner," stated Chris Wright, executive chairman and chief executive officer of Defiance Silver.

Victoria target highlights

The Victoria target represents a large, previously untested Laramide-age porphyry copper-molybdenum-gold system located within the highly prospective Sonora Laramide porphyry copper belt, which hosts world-class deposits such as Cananea and La Caridad. The Green Earth project spans approximately 6,800 hectares and benefits from excellent infrastructure, year-round access, and proximity to skilled labor and services.

Key attributes include:

• A large alteration footprint defined by phyllic and potassic alteration assemblages;
• Leached capping with anomalous copper, molybdenum and gold geochemistry;
• Intermediate-sulphidation epithermal veins indicative of a robust mineralized system;
• Strong geophysical responses, including coincident MT (magnetotelluric) and IP (induced polarization) chargeability/resistivity anomalies.

Grant of omnibus awards

Defiance has granted the following:

• Stock options: An aggregate of 2.72 million incentive stock options have been granted to certain employees, directors and consultants to purchase common shares of the company at an exercise price of 35 cents. The options are exercisable for five years from the date of grant and vest equally over a three-year period beginning on the date of grant.
• Deferred share units: An aggregate of 289,000 deferred share units (DSUs) have been granted to certain directors. Each DSU represents a right of the holder to receive one common share effective as at the date the holder ceases to serve as a director of the company. The DSUs vest on the one-year anniversary of the date of grant.
• Performance share units: An aggregate of 458,000 performance share units (PSUs) have been granted to certain employees. Each PSU entitles the holder to acquire one common share on the vesting date. The PSUs vest on the one-year anniversary of the date of grant, subject to certain corporate and individual performance criteria.
• Restricted share units: An aggregate of 314,000 restricted share units (RSUs) have been granted to certain employees. Each RSU entitles the holder to acquire one common share on vesting. The RSUs vest equally over a three-year period beginning on the one-year anniversary of the date of grant.

About Defiance Silver Corp.

Defiance Silver is an exploration company focused on advancing district-scale precious and base metal projects in Mexico. The company's portfolio includes:

• The Zacatecas project in the historic Zacatecas silver district;
• The 100-per-cent-owned Tepal gold-copper project in Michoacan;
• The Green Earth metals property portfolio in Sonora state.

Defiance is led by a proven management and technical team with experience advancing exploration assets through discovery and development. The company is committed to capital-efficient exploration, disciplined growth and responsible development.

Qualified person

George Cavey, PGeo, is a qualified person within the meaning of National Instrument 43-101 and has approved the technical information concerning the company's material mineral properties contained in this press release.

We seek Safe Harbor.