DEFIANCE SILVER CORP - DNCVF STOCK NEWS

Defiance Silver (TSXV: DEF) has filed a new technical report for its Zacatecas Project in Mexico following a continuous disclosure review by the British Columbia Securities Commission. The report reveals that the previously disclosed 2014 mineral resource estimate for the San Acacio project did not comply with NI 43-101 requirements. Since 2014, the company has completed 73 drill holes totaling 26,578.03 metres at San Acacio, along with extensive surface geological mapping and soil sampling. However, this additional work has not yet been incorporated into current geological and resource models, resulting in no current mineral resources being reported for the project. The new technical report, prepared by SGS Geological Services with an effective date of October 1, 2024, has been filed on SEDAR+.

Defiance Silver announced a Mineral Resource Estimate (MRE) for its 100% owned Tepal Gold-Copper Project in Mexico. The MRE includes 111.67 million tonnes of Measured & Indicated Resources containing 926,000 ounces of gold, 473.86 million pounds of copper, and 5.58 million ounces of silver. Additionally, there are 124.36 million tonnes of Inferred Resources containing 985,000 ounces of gold, 451.0 million pounds of copper, and 5.83 million ounces of silver.

The estimate used cut-off grades of 13 $/t NSR for oxidized zones and 15 $/t NSR for sulphide zones. Metallurgical testing indicates recoveries of up to 86% Cu and 54% Au, producing a 23% Cu concentrate with gold credits. The MRE was independently prepared by Micon International with an effective date of October 30, 2024.

Defiance Silver has issued a clarification regarding its October 30, 2024 news release about engaging Torrey Hills Capital for investor relations services. The agreement, starting November 1, 2024, involves a monthly payment of $5,000 USD for a minimum four-month term, with a 30-day termination notice option thereafter. The engagement is subject to TSX Venture Exchange approval.

Torrey Hills, led by Cliff Mastricola, will focus on increasing company awareness among investment professionals and maintaining an informed investor audience in both U.S. and Canadian markets. The firm currently holds no securities or interests in Defiance Silver.

Defiance Silver Corp. (TSXV: DEF) held its 2024 Annual General and Special Meeting on December 6, 2024, where shareholders approved all proposed items. The meeting saw participation from 81,955,531 common shares, representing 29.89% of outstanding shares. Key approvals included: electing four directors (Christopher Wright, Ronald Sowerby, James Bergin, and George Cavey), appointing Davidson & Company LLP as auditor, and confirming the 2021 Omnibus Plan.

Following the AGM, Paul A. Smith was appointed as a director. Smith, who brings 36 years of experience in the non-ferrous mining and smelting industry, has worked with major organizations including Rio Tinto Zinc, Pasminco, and Mount Isa Mines. He was also a founding shareholder and Finance Director of Ocean Partners Holdings

Defiance Silver Corp provides an update on technical reports for its Tepal and San Acacio projects. For Tepal, the company is working with Micon International on a new technical report including a new Mineral Resource Estimate (MRE), following resolution of a two-year access restriction due to illegally transferred concessions. The company plans to complete a new preliminary economic assessment in 2025. For the San Acacio project, part of the Zacatecas complex, SGS Geological Services is preparing a revised technical report incorporating all exploration work to date, including 72 drill holes totaling 25,446.62 metres. Both technical reports are expected to be filed by mid-December.

Defiance Silver Corp (TSXV: DEF) (OTCQX: DNCVF) has announced two key developments: First, the extension of its San Acacio Silver Project option payment deadline from September 27 to December 31, 2024, with no changes to economic terms. Second, the acquisition of six new licenses totaling 636.25 hectares near the Tepal project for USD$20,000 + VAT. The new concessions show potential for Au-Cu-Mo mineralization based on regional airborne magnetics and SGM data. Additionally, the company has engaged Torrey Hills Capital for investor relations services at USD$5,000 monthly and issued 52,375 shares for administrative services.

Defiance Silver Corp. (TSXV: DEF) has issued a clarifying news release regarding statements made on July 12, 2024. The company clarifies that its engagement with AXINO Media GmbH for investor relations services began on July 1, 2024, not earlier as previously stated. AXINO is a private investor relations firm based in Germany, specializing in representing resource sector companies in European financial markets.

Additionally, Defiance Silver corrects that an administrative services agreement with an officer of the company, previously described as arm's length, is in fact non-arm's length. The company reiterates its focus on advancing the Zacatecas project in Mexico's historic Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacán state.

Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) has closed the final tranche of its non-brokered private placement, raising total gross proceeds of C$3,222,615. The offering consisted of units priced at C$0.20, with each unit comprising one common share and half a warrant. Each full warrant allows the purchase of one common share at C$0.35 within 24 months.

The company issued 16,113,075 units in total across two tranches. The net proceeds will fund exploration and working capital. In connection with the offering, Defiance paid C$110,868 in cash commissions and issued 748,453 non-transferable finder warrants. Securities from the final tranche are subject to a four-month hold period expiring November 26, 2024.

Defiance Silver announced the closure of the first tranche of a non-brokered private placement, raising C$2,613,900 through the sale of units at C$0.20 each. Each unit comprises one common share and one-half of a warrant, each warrant exercisable at C$0.35 within 24 months. The proceeds will be used for exploration and working capital.

Additionally, the company paid finder's fees, including C$146,809 in cash and 633,870 non-transferable warrants. Director Ron Sowerby purchased 100,000 units, constituting a related party transaction exempt from formal valuation and minority approval requirements as per Regulation 61-101.

Defiance also entered into a corporate communication service agreement with AXINO Media GmbH for annual payments of €50,000 and additional fees for translation services. The company will issue 52,375 shares at an average price of C$0.179 per share for administrative services provided from January to June 2024.