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DEF.V ·

Defiance Grants Stock Options

Share Capital & Compensation

DEFIANCE GRANTS STOCK OPTIONS

FOR RELEASE: JULY 2ND, 2021 TSXV:DEF

OTCQX:DNCVF

FRA:D4E

Defiance Silver Corp. (“Defiance” or the " Company") announces it has granted incentive stock options to

certain directors and officers to purchase of an aggregate of 1,425,000 common shares of the Company at an

exercise price of $0.90 (the”Options”) in accordance with the terms of the Company’s incentive stock option

plan. The Options are exercisable for a ten-year term expiring June 30, 2031 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 made certain grants to other employees and consultants in accordance with

the terms of the Company’s incentive stock option plan.

About Defiance Silver Corp.

Defiance Silver Corp. (DEF | TSX Venture Exchange; DNCVF | OTCQX; D4E | Frankfurt) is an exploration

company advancing the 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

[email protected].

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 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 uncertain ties. Actual results may differ materially from those

currently anticipated in such statements. Defiance Silver Corp. relies upon litigation protection for forward-

looking statements.