Defiance Silver Appoints Armando Vazquez, M.Sc., C.P.G., as Vice President, Operations
Defiance Silver Appoints Armando Vazquez,
M.Sc., C.P.G., as Vice President, Operations
Vancouver, British Columbia--(Newsfile Corp. - May 1, 2025) -
Defiance
Silver Corp.
(TSXV: DEF)
(FSE: D4E) (WKN: A1JQW5) ("
Defiance
" or the "
Company
") is pleased to announce the appointment
of Mr. Armando Vazquez, M.Sc., C.P.G., as Vice President, Operations, effective May 1, 2025.
Mr. Vazquez continues to serve as Senior Consultant at OreQuest Consultants Ltd., where he has been
supporting with strategic development and drill targeting for Defiance Silver since 2020, contributing to
expanding our resource base and achieving our long-term vision. Mr. Vazquez is a Qualified Person
under Canadian National Instrument 43-101 and a highly regarded exploration geologist with over 14
years of experience designing and managing grassroots and brownfield exploration programs.
Prior to joining Defiance, Mr. Vazquez led the design and execution of exploration programs to the
highest industry standards, including compliance with QA/QC protocols under NI 43-101 and stringent
Health and Safety frameworks. His expertise spans a broad range of deposit types—including
epithermal, porphyry, orogenic gold, and intrusion-related systems—across key mining jurisdictions such
as Mexico, the United Kingdom, and Finland.
Mr. Vazquez holds a Master of Science in Exploration Geology from the Camborne School of Mines
(University of Exeter, UK), where he was awarded the prestigious Chevening Scholarship for academic
excellence. He also earned a Bachelor of Engineering in Geological Engineering from the National
Autonomous University of Mexico (UNAM).
Chris Wright, Chairman & CEO, commented:
"We are very pleased to welcome Mr. Vazquez to the leadership team at Defiance. His deep technical
knowledge, commitment to responsible exploration, and proven ability to manage complex
exploration programs will play a critical role in advancing our portfolio and driving long-term value for
our shareholders. In his new role, Mr. Vazquez will oversee operational execution across Defiance's
projects, including technical planning, exploration strategy, and program delivery."
SHARES FOR SERVICES
The Company previously entered into a non-arm's length administrative services agreement dated May
1, 2023 (the "Agreement"), for services provided by an officer of the Company. As part of the
consideration payable by the Company under the Agreement, the Company has agreed to issue that
number of Common Shares equal to $1,330 per month (the "Service Shares"), to be issued on a semi-
annual basis and pursuant to the policies of the TSX Venture Exchange (the "TSXV"). The Agreement
was for a term of three months and has automatically renewed in accordance with its terms, terminable
by either party providing 30 days' notice of such termination.
The deemed value of the Service Shares to be issued for a particular month, is to be the closing price of
the Company's shares on the last trading day of the month.
For services rendered under the Agreement between the period of July 1, 2024 to December 31, 2024,
the Company has issued 33,448 Common Shares at a weighted average price of $0.244 per Common
Share, extinguishing the accrued debt under the Agreement of $7,980.
The transaction was subject to
the approval of the TSXV.
The Service Shares issued are subject to a four month hold period, which will expire on a date that is
four months and one day from the date of issuance.
No new insiders will be created, nor will any change of control occur, as a result of the issuance of the
Service Shares.
As certain insiders are party to the Agreement, it may be considered a "related party transaction" under
Multilateral Instrument 61-101 Protection of Minority Security Holders In Special Transactions ("MI 61-
101") and the TSXV. The Company is relying on the exemptions from the formal valuation and the
minority shareholder approval requirements of MI-61-101 contained in section 5.5 (a) and Section 5.7
(1)(a) as the fair market value of the common shares being issued to insiders in connection with the
Service Shares does not exceed 25% of the market capitalization of the Company, as determined in
accordance with MI 61-101.
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 and Chairman of the Board
For more information, please contact: Investor Relations at +1 (604) 343-4677 or via email at
.
www.defiancesilver.com
Suite 2900-550 Burrard Street
Vancouver, BC V6C 0A3
Canada
Disclaimer
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policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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