Defiance Announces Results of 2024 Annual General and Special Meeting and Election of Director

Rhea-AI Summary

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

Positive

• High approval rates for all resolutions with over 97% votes in favor
• Addition of experienced director Paul A. Smith with 36 years of industry expertise
• Strong shareholder participation with 29.89% of shares represented at AGM

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - December 9, 2024) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) ("Defiance" or the "Company") is pleased to announce the results of its 2024 Annual General and Special Meeting (the "AGM") held on Friday, December 6, 2024.

Shareholders approved all items to be acted upon, as outlined in the management information circular of the Company dated October 23, 2024, namely:

• Electing all nominees to the board of directors of the Company
• Appointing Davidson & Company LLP as auditor of the company for the ensuing year and authorizing the directors to determine the auditor's compensation.
• Approving, ratifying and confirming the Company's 2021 Omnibus Plan

A total of 81,955,531 common shares of the Company were voted at the meeting, representing approximately 29.89% of the issued and outstanding common shares of the Company (see below).

RESOLUTION	VOTES FOR	VOTES AGAINST	VOTES WITHHELD
To set the number of directors at four	99.880%	0.120%	n/a
To elect the following as directors:
Christopher Wright	99.592%	n/a	0.408%
Ronald Sowerby	99.648%	n/a	0.352%
James Bergin	98.076%	n/a	1.924%
George Cavey	99.455%	n/a	0.545%
Appointment of Auditor	99.844%	n/a	0.156%
Approve, ratify and confirm the 2021 Omnibus Plan	97.057%	2.943%	n/a

 

The Company is pleased to announce that, subsequent to the AGM, Paul A. Smith, was appointed a director. Mr. Smith was not included in the Company's AGM materials due to a decision to not stand for re-election. Mr. Smith agreed to stay on as a director with the Company after the mailing of the Company's AGM materials.

Defiance Silver is pleased that Paul has agreed to resume his role as a Director of the Company. Paul brings an exceptional breadth of experience and deep industry knowledge, cultivated over a distinguished 36-year career in the non-ferrous mining and smelting industry.

Throughout his career, Paul has held key roles with prominent organizations such as Rio Tinto Zinc, Pasminco, Mount Isa Mines, and Pechiney World Trade, working both in the UK and internationally. His expertise spans operations, finance, and strategic development within the sector.

In addition to his extensive corporate experience, Paul was a founding shareholder and Finance Director of Ocean Partners Holdings Limited, a leading global trader of copper, zinc, and lead concentrates. After contributing to the company's growth and success, he departed in May 2012 to explore investment opportunities and dedicate time to charitable endeavors.

"We are thrilled to welcome Paul back to the team," said Chris Wright, Chairman & CEO of Defiance Silver. "His unparalleled experience and strategic insights will be invaluable as we continue to drive our projects forward."

About Defiance Silver Corp.

Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) (FSE: D4E) is an exploration company advancing the district-scale Zacatecas project, located in the historic Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacán state, Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring, advancing, and developing several operating mines and advanced resource projects. Defiance's corporate mandate is to advance our projects through capital-efficient exploration focused on resource growth and new mineral discoveries.

On behalf of Defiance Silver Corp.

"Chris Wright"

CEO & Chairman of the Board

For more information, please contact: Investor Relations at +1 (604) 343-4677 or via email at info@defiancesilver.com
www.defiancesilver.com
Suite 2900-550 Burrard Street
Vancouver, BC V6C 0A3
Canada
Tel: +1 (604) 343-4677
Email: info@defiancesilver.com

Disclaimer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward-Looking Information

Information contained in this news release which are not statements of historical facts may be "forward-looking information" for the purposes of Canadian securities laws. Such forward-looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward looking information. Forward-looking statements are generally identifiable by use of the words "believe", "expect", "anticipate", "contemplate", "plan", "intend", "continue", "budget", "estimate", "may", "will", "schedule", "understand" or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements relate to, among other things: the Company's ability to complete and file a new technical report for its Tepal and Zacatecas projects, and the ability of the Company to prepare an updated preliminary economic assessment for its Tepal project.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Defiance, are inherently subject to significant technical, political, business, economic and competitive uncertainties and contingencies, which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information. Factors and assumptions that could cause actual results or events to differ materially from current expectations include, among other things and without limitation: political risks associated with the Company's operations in Mexico; the inability of the Company and its subsidiaries to enforce their legal rights in certain circumstances; failure to establish estimated mineral resources; the possibility that future exploration results will not be consistent with the Company's expectations; and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. For additional risk factors, please see the Company's most recently filed Management Discussions & Analysis for its financial year ended June 30, 2024 available on SEDAR+ at www.sedarplus.ca.

There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known, and unknown could cause actual results, performance or achievements to vary or differ materially from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained herein or incorporated by reference. Accordingly, all such factors should be considered carefully when making decisions with respect to Defiance, and prospective investors should not place undue reliance on forward looking information. Forward-looking information in this news release is made as at the date hereof. The Company assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232980

FAQ

What were the voting results for Defiance Silver's (DNCVF) 2024 AGM?

All resolutions passed with strong approval rates exceeding 97%. The meeting had 81,955,531 common shares voted, representing 29.89% of outstanding shares.

Who was appointed as the new director of Defiance Silver (DNCVF) after the 2024 AGM?

Paul A. Smith was appointed as a director following the AGM. He brings 36 years of experience in the non-ferrous mining industry and was previously a founding shareholder of Ocean Partners Holdings

What was the shareholder approval rate for Defiance Silver's (DNCVF) 2021 Omnibus Plan?

The 2021 Omnibus Plan received 97.057% approval from shareholders at the 2024 AGM.