Defiance Successfully Restructures Option to Acquire Royalty at the Tepal Project
DEFIANCE SUCCESSFULLY RESTRUCTURES OPTION TO
ACQUIRE ROYALTY AT THE TEPAL PROJECT
FOR RELEASE: JANUARY 16TH, 2023 TSXV: DEF
OTCQX: DNCVF
WKN: A1JQW5
Vancouver, British Columbia - Defiance Silver Corp. ("Defiance" or the "Company") is
pleased to announce that it has successfully restructured the option agreement (See News
Release dated December 17th, 2020) to acquire the 2.5% NSR at the Tepal gold-copper
project with the project vendor, Minera Tepal S.A. de C.V. The company is making a
payment of US $100,000 to defer all payments until June 30, 2024, at which time the
remaining payment schedule will resume.
Chris Wright, Chairman & CEO, commented: “We want to thank Minera Tepal for their
continued support and partnership as we advance the Tepal project. With approximately
$10 million of cash in the bank, Defiance is well-funded and we plan on continuing to
advance our projects in 2023, including exploration and definition drilling in Zacatecas.
Creating value for our shareholders is one of our highest priorities, and in uncertain markets
this will preserve our financial flexibility to enable us to allocate capital efficiently at the
project level.”
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.