Defiance Appoints Executive Vice President
DEFIANCE APPOINTS EXECUTIVE VICE PRESIDENT
FOR RELEASE: FEBRUARY 1ST, 2023 TSXV: DEF
OTCQX: DNCVF
WKN: A1JQW5
Vancouver, British Columbia - Defiance Silver Corp. ("Defiance" or the "Company") is
pleased to announce the appointment of Mr. Douglas Cavey to the position of Executive
Vice President. Mr. Cavey currently holds the position of Vice President of Corporate
Development and has been working with the company since 2019.
Chris Wright, Chairman & CEO, commented: “Doug has been an instrumental member of
our team for the past several years, managing key aspects of our corporate functions, as
well as our exploration and technical programs on the ground in Mexico. This appointment
is a recognition of Doug’s considerable capabilities and expertise demonstrated on a daily
basis, enabling our team to operate safely and efficiently in the field and to continue
delivering value for the company and shareholders.”
Doug Cavey, Executive Vice President, commented: “This appointment is a direct reflection
of the efforts and support of our entire team, both in Mexico and in Canada, and a
demonstration of the continuing achievements of the company. Generally speaking,
depressed market sentiment for exploration companies has had a negative effect on our
current market valuation, but despite these headwinds the dedication and commitment of
the entire organization has helped us achieve key exploration milestones and financial
success over the past three years.”
Mr. Douglas Cavey has over a dozen years of experience in mineral project management,
venture market fundamentals, corporate and business development, and long-term project
development strategies. Mr. Cavey has been involved in international mineral project asset
identification and evaluation, acquisition due diligence, business development, and
management across base and precious metal projects in North and South America, Turkey,
Serbia, and Scandinavia, including many locations in Mexico. Mr. Cavey is a diversified
project development expert and a senior member of the team at OreQuest Consultants Ltd.
Defiance also announces that it has granted incentive stock options to certain directors
and officers to purchase an aggregate of 1,812,500 common shares of the Company at an
exercise price $0.155 (the “Options”) in accordance with the terms of the Company’s
omnibus equity incentive plan. The Options are exercisable for ten years until January 31st,
2033 and vest as follows: one-third on the date of grant, one-third twelve months following
grant date, and one-third twenty-four months following grant date. The company has also
issued 440,000 Deferred Share Units (“DSUs”) and 25,000 Performance Share Units
(“PSUs”), which mature immediately upon grant and 468,750 Restricted Share Units
(“RSUs”), which will mature as follows: one-third on the date of grant, one-third twelve
months following grant date and one-third twenty-four months following grant date. The
Company has also made certain grants to other employees and consultants in an aggregate
of 1,013,750 common shares of the Company at an exercise price of $0.155 (the
"Employee Options"). The Employee Options are exercisable for five years until January
31st, 2028 and vest as follows: one-third on the date of grant, one-third twelve months
following grant date, and one-third twenty-four months following grant date.
About Defiance Silver Corp.
Defiance Silver Corp. (DEF | TSX Venture Exchange; DNCVF | OTCQX; A1JQW5 | Frankfurt)
is an exploration company advancing the district-scale San Acacio Deposit, 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 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
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 accuracy 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 processes, 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.