Defiance Silver closes $1-million financing

May 11, 2015

DEFIANCE RAISES $1.0 MILLION FOR CONTINUED DRILLING AT THE SAN ACACIO DEPOSIT

Defiance Silver Corp. has raised $1,007,510 through the issuance of 10,075,100 units at 10 cents. Each unit consists of one common share and half a common share purchase warrant. Each full warrant will entitle the holder thereof to acquire an additional common share of Defiance for a period of 18 months at an exercise price of 15 cents. No finders’ fees were paid in connection with this financing. The securities issued under the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

The funds raised in this financing will be used to advance its San Acacio silver deposit in Zacatecas, Mexico, currently measuring a total contained 17,961,000 silver equivalent ounces within an inferred resource of 2,902,000 tonnes at a silver equivalent grade of 192.50 grams per tonne silver (see press release dated Jan. 15, 2015) and follow-up of encouraging results from its current drill program. Defiance recently intercepted wide zones of mineralization under its current resource limits (see the press release dated Jan. 29, 2015), and is awaiting assay results from an additional five holes which will be released as they are received.

“With this financing secured, Defiance can continue with its drill program aimed at expanding its resource below the current historical workings,” said Bruce Winfield, chief executive officer of Defiance Silver. “We are anxious to follow up on the extremely good results we have encountered to date. The drilling has been a continuation to what has been a very active 12 months for the company which has seen Defiance secure a cornerstone investor, obtain its full surface rights, extend its payment schedule on the property and add significant expertise to its board. Much of the funding that was received has come from current investors and we want to thank them for their continued support of our efforts.”

Bruce Winfield, PGeo, president of Defiance Silver, is the qualified person for information contained in this press release and is a qualified person within the meaning of National Instrument 43-101.

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