Defiance Acquires Option to Purchase Royalty at Tepal GOLD and Copper Project
DEFIANCE ACQUIRES OPTION TO PURCHASE ROYALTY
AT TEPAL GOLD AND COPPER PROJECT
FOR RELEASE: DECEMBER 17th, 2020 TSXV: DEF
OTC: DNCVF
Vancouver, British Columbia - (Newsfile Corp. – December 17th, 2020) - Defiance Silver Corp.
(“Defiance” or the “ Company”) is pleased to announce that Geologix Explorations Mexico, S.A. de
C.V., a subsidiary of Defiance Silver Corp. , has acquired an option to repurchase the royalty on the
company’s Tepal project in Michoacán, Mexico from Minera Tepal, S.A. de C.V (“Minera Tepal”) .
The company has the option to acquire the existing 2.5% NSR from Minera Tepal over four years for
total consideration of USD $4.85 million . P ayments may be accelerated at the o ption of the
purchaser.
Chris Wright, Executive Chairman & CEO, commented: “ “We are pleased to conclude this
transaction with Minera Tepal and want to thank them for their continued support in developing the
Tepal Au -Cu deposit. Acquiring an option t o r epurchase the NSR royalty enhances the project
economics at Tepal and will enable Defiance to preserve flexibility for financing fut ure development
of the project.”
Investor Relations Agreement
Defiance also announces that it has ended the investor relations consulting agreement previously
announced on September 16th, 2019. Both parties have waived the thirty-day written notice period.
About Defiance Silver Corp.
Defiance Silver Corp. (DEF | TSX Venture Exchange; DNCVF | OTC; D4E | Frankfurt) is an
exploration company advancing the ir district-scale San Acacio Deposit, located in the historic
Zacatecas Silver District and the 100% owned 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 expand the San Acacio and Tepal projects to become premier Mexican silver and gold
deposits.
On behalf of Defiance Silver Corp.
“Chris Wright”
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
Tel: +1 (604) 343-4677 Email: [email protected]
Neither 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 accurac y of this
release.
This news release may contain forward -looking statements including but not limited to comments
regarding timing and content of upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery pro cesses, etc. Forward -looking statements address future
events and conditions and therefore involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements. Defiance Silver Corp. relies
upon litigation protection for forward-looking statements.