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Defiance Silver Files Amended Technical Report for The Tepal Project

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Defiance Silver (TSXV: DEF) (OTCQX: DNCVF) has filed an amended technical report for its 100% owned Tepal Gold-Copper Project. The amendment follows the December 10, 2024 announcement of a Mineral Resource Estimate (MRE) and primarily involves changes to specific columns in the Tepal Project Mineral Resource Estimate Table and minor edits to Resource Estimates Notes.

The amended report, titled 'NI 43-101 Technical Report and 2024 Mineral Resource Estimate for the Tepal Project, Michoacán, Mexico,' has an effective date of October 30, 2024. The report was prepared by independent Qualified Persons from Micon, including William J. Lewis, Chitrali Sarkar, and Richard Gowans. Importantly, there have been no changes to the actual mineral resource estimates previously reported in December 2024.

Defiance Silver (TSXV: DEF) (OTCQX: DNCVF) ha presentato un rapporto tecnico modificato per il suo Progetto Oro-Rame Tepal, di cui detiene il 100%. L'emendamento segue l'annuncio del 10 dicembre 2024 di una Stima delle Risorse Minerarie (MRE) e riguarda principalmente modifiche a colonne specifiche nella Tabella della Stima delle Risorse Minerarie del Progetto Tepal e piccole correzioni nelle Note delle Stime delle Risorse.

Il rapporto modificato, intitolato 'Rapporto Tecnico NI 43-101 e Stima delle Risorse Minerarie 2024 per il Progetto Tepal, Michoacán, Messico,' ha una data di efficacia del 30 ottobre 2024. Il rapporto è stato preparato da Professionisti Qualificati indipendenti di Micon, inclusi William J. Lewis, Chitrali Sarkar e Richard Gowans. È importante sottolineare che non ci sono state modifiche alle stime delle risorse minerarie effettivamente riportate a dicembre 2024.

Defiance Silver (TSXV: DEF) (OTCQX: DNCVF) ha presentado un informe técnico enmendado para su Proyecto de Oro-Cobre Tepal, del cual posee el 100%. La enmienda sigue al anuncio del 10 de diciembre de 2024 de una Estimación de Recursos Minerales (MRE) y principalmente implica cambios en columnas específicas de la Tabla de Estimación de Recursos Minerales del Proyecto Tepal, así como pequeñas ediciones en las Notas de Estimaciones de Recursos.

El informe modificado, titulado 'Informe Técnico NI 43-101 y Estimación de Recursos Minerales 2024 para el Proyecto Tepal, Michoacán, México,' tiene una fecha de efectividad del 30 de octubre de 2024. El informe fue preparado por Personas Calificadas independientes de Micon, incluyendo a William J. Lewis, Chitrali Sarkar y Richard Gowans. Es importante destacar que no ha habido cambios en las estimaciones de recursos minerales que se habían reportado anteriormente en diciembre de 2024.

Defiance Silver (TSXV: DEF) (OTCQX: DNCVF)는 100% 소유하는 Tepal 금-구리 프로젝트에 대한 수정된 기술 보고서를 제출했습니다. 이 수정은 2024년 12월 10일에 발표된 광물 자원 추정치(MRE)에 따른 것이며, 주로 Tepal 프로젝트의 광물 자원 추정치 표의 특정 열에 대한 변경 사항과 자원 추정치 노트에 대한 사소한 편집이 포함됩니다.

수정된 보고서 제목은 'NI 43-101 기술 보고서 및 2024년 Tepal 프로젝트의 광물 자원 추정치, 미초아칸, 멕시코'로, 효력 발생일은 2024년 10월 30일입니다. 이 보고서는 Micon의 독립적인 자격을 갖춘 전문가들인 William J. Lewis, Chitrali Sarkar 및 Richard Gowans에 의해 작성되었습니다. 중요한 것은 2024년 12월에 이전에 보고된 실제 광물 자원 추정치에는 변경 사항이 없었다는 것입니다.

Defiance Silver (TSXV: DEF) (OTCQX: DNCVF) a déposé un rapport technique amendé pour son projet d'or-cuivre Tepal, dont il détient 100 %. Cet amendement fait suite à l'annonce du 10 décembre 2024 d'une estimation des ressources minérales (ERM) et concerne principalement des modifications de colonnes spécifiques dans le tableau des estimations des ressources minérales du projet Tepal, ainsi que de petites modifications dans les notes des estimations de ressources.

Le rapport amendé, intitulé 'Rapport technique NI 43-101 et estimation des ressources minérales 2024 pour le projet Tepal, Michoacán, Mexique,' a une date d'effet du 30 octobre 2024. Le rapport a été préparé par des personnes qualifiées indépendantes de Micon, notamment William J. Lewis, Chitrali Sarkar et Richard Gowans. Il est important de souligner qu'il n'y a eu aucun changement concernant les estimations des ressources minérales rapportées en décembre 2024.

Defiance Silver (TSXV: DEF) (OTCQX: DNCVF) hat einen geänderten technischen Bericht für das zu 100% im Besitz befindliche Tepal Gold-Kupfer-Projekt eingereicht. Die Änderung folgt auf die Bekanntgabe einer Mineralressourcenschätzung (MRE) am 10. Dezember 2024 und umfasst hauptsächlich Änderungen an spezifischen Spalten in der Tabelle der Mineralressourcenschätzung des Tepal-Projekts sowie geringfügige Anpassungen der Anmerkungen zu den Ressourcenschätzungen.

Der geänderte Bericht mit dem Titel 'NI 43-101 Technischer Bericht und Mineralressourcenschätzung 2024 für das Tepal-Projekt, Michoacán, Mexiko' hat ein Veröffentlichungsdatum vom 30. Oktober 2024. Der Bericht wurde von unabhängigen qualifizierten Personen der Micon verfasst, darunter William J. Lewis, Chitrali Sarkar und Richard Gowans. Wichtig ist, dass es keine Änderungen an den tatsächlich im Dezember 2024 berichteten Mineralressourcenschätzungen gegeben hat.

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Vancouver, British Columbia--(Newsfile Corp. - January 31, 2025) - Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) (FSE: D4E) (WKN: A1JQW5) ("Defiance" or the "Company") announces that, following the announcement on December 10, 2024 of a Mineral Resource Estimate ("MRE") prepared in accordance with the National Instrument 43-101 - Standard for Disclosure for Mineral Projects ("NI 43-101") for the 100% owned Tepal Gold-Copper Project and the concurrent filing on SEDAR+ (www.sedarplus.ca) of a technical report on the project (see news release dated December 10, 2024 for more details), the Company has filed today an amended technical report on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.

Qualified Persons, NI 43-101 Technical Report and MRE

As reported by the Company in its November 29 news release, Defiance had commissioned Micon to prepare a new technical report, including a MRE, associated with the potential development of the Tepal mineral resource.

The MRE is preliminary in nature and includes inferred mineral resources considered too speculative geologically to have the economic considerations applied that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The Micon MRE report is titled "NI 43-101 Technical Report and 2024 Mineral Resource Estimate for the Tepal Project, Michoacán, Mexico" dated November 29, 2024, amended on January 29, 2025, with an effective date of October 30, 2024 (the "Amended Technical Report"). William J. Lewis P.Geo., and Chitrali Sarkar M.Sc., P.Geo., of Micon are the QPs for the MRE and have reviewed and approved the technical disclosure contained in this news release. Richard Gowans P.Eng., of Micon is the QP responsible for reviewing the Tepal metallurgical work which the MRE is based upon. Mr. Lewis, Ms. Sarkar and Mr. Gowans are all independent of Defiance and are the Micon QPs for the Amended Technical Report.

The principal amendments to the technical report are changes to certain columns in the Tepal Project Mineral Resource Estimate Table and minor edits in the Resource Estimates Notes that appear in Section 1.7.7 -Summary, Section 14.10.3 -Mineral Resource Estimates and Section 25.2.7.3 Mineral Resource Estimate of the Micon report. There have been no changes to the actual mineral resource estimates reported in the December 10, 2024 news release and SEDAR+ filing. All other sections of the technical report remain unchanged.

The Amended Technical Report replaces the original technical report dated November 29, 2024 and filed on SEDAR+ on December 10, 2024.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239232

FAQ

What changes were made in Defiance Silver's amended Tepal technical report?

The amendments include changes to certain columns in the Tepal Project Mineral Resource Estimate Table and minor edits in the Resource Estimates Notes sections. The actual mineral resource estimates remain unchanged from the December 10, 2024 report.

Who are the Qualified Persons for DNCVF's Tepal Project technical report?

The Qualified Persons are William J. Lewis P.Geo., Chitrali Sarkar M.Sc., P.Geo., and Richard Gowans P.Eng., all from Micon and independent of Defiance Silver.

When was the effective date of DNCVF's amended Tepal technical report?

The amended technical report has an effective date of October 30, 2024.

What is the current status of DNCVF's Tepal Project mineral resources?

The Mineral Resource Estimate (MRE) is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to be categorized as mineral reserves or to have demonstrated economic viability.

DEFIANCE SILVER CORP

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