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DEF.V ·

Defiance Silver Announces Warrant Extension

Share Capital & Compensation

DEFIANCE SILVER ANNOUNCES WARRANT EXTENSION

FOR RELEASE: SEPTEMBER 6th, 2022 TSXV:DEF

OTCQX:DNCVF

FRA:D4E WKN: A1JQW5

Defiance Silver Corp. (“Defiance” or the " Company") announces that, subject to required

approval from the TSXV Venture Exchange , the Company will extend the expiry date of a

total of 14,707,499 outstanding common share purchase warrants (the “Warrants”).

The Warrants were issued pursuant to a brokered private placement of 29,415,000 units at a

price of C $0.34 per unit on September 16 th, 2020. Each unit consisted of one common share

and one-half of one Warrant, with each Warrant entitling the holder thereof to purchase an

additional common share of the Company until September 16 th, 2022 at an exercise price of

C$0.48.

Pursuant to a first supplemental warrant indenture dated September 6 th, 2022, the term of

the Warrants is being amended to extend the expiry date of the Warrants from September

16th, 2022 to September 16 th, 2023. All other terms and conditions of the Warrants will

remain unchanged.

About Defiance Silver Corp.

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

exploration company advancing the district -scale Zacatecas project, located in the historic Zacatecas

Silver District and the Tepa l 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.

Mr. George Cavey, P.Geo, is a Qualified Person within the meaning of National Instrument 43 -101

and has approved the technical inform ation concerning the Company’ s material mineral properties

contained in this press release.

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 R egulation 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 com ments

regarding timing and co ntent 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. Actu al res ults may

differ materially from those currently anticipated in such statements. Defiance Silver Corp. relies

upon litigation protection for forward-looking statements.