Update on Technical Disclosure Review
Update on Technical Disclosure Review
Vancouver, British Columbia--(Newsfile Corp. - April 10, 2024) - Defiance Silver Corp. (TSXV: DEF)
(FSE: D4E) (WKN: A1JQW5) ("
Defiance
" or the "
Company
") would like to provide an update on the
preparation of the required technical reports for its Tepal and San Acacio projects.
On February 2, 2024, following a continuous disclosure review by the British Columbia Securities
Commission, Defiance issued a news release to clarify some of its technical disclosure relating to its
current technical reports for its Tepal and San Acacio projects (
see the Company's February 2, 2024
news for more details
). As a result of this review, the Company announced its intention to file an
amended technical report for the Tepal project and a new technical report for the San Acacio Project.
On the Tepal project, after consultation with its technical advisors, some of whom participated in the
preparation of the original technical report, the Company has concluded that it will be incapable of
providing an amended report given that some of the sections requiring amendments were prepared by
persons who are no longer Qualified Persons under National Instrument 43- 101 -
Standards of
Disclosure for Mineral Projects
.
In light of this regrettable situation beyond its control, Defiance will be
working with its technical advisors to prepare a new technical report that will replace the current report for
its Tepal Project.
The Company is not in a position to confirm at this time when it will be able to file this
new technical report and expects that the process will take several months to complete. The Company
will provide regular updates in connection with the preparation and filing of this new report for its Tepal
project.
As for its San Acacio project, work on the preparation of the new technical report is progressing well but
has been delayed, notably, due to the site visit availability. The Company now expects to file this new
technical report by the mid-May 2024.
About Defiance Silver Corp.
Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) (FSE: D4E) is an exploration company
advancing the district-scale Zacatecas project, 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 Silver's corporate mandate is to advance its projects through
capital-efficient exploration focused on resource growth and new mineral discoveries.
On behalf of Defiance Silver Corp.
"Chris Wright"
CEO & 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:
Disclaimer
Neither the 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.
Cautionary Statements Regarding Forward-Looking Information
Information contained in this news release which are not statements of historical facts may be
"forward-looking information" for the purposes of Canadian securities laws. Such forward-looking
information involves risks, uncertainties and other factors that could cause actual results,
performance, prospects and opportunities to differ materially from those expressed or implied by such
forward looking information. Forward-looking statements are generally identifiable by use of the words
"believe", "expect", "anticipate", "contemplate", "plan", "intend", "continue", "budget", "estimate",
"may", "will", "schedule", "understand" or the negative of these words or other variations on these
words or comparable terminology. These forward-looking statements relate to, among other things: the
Company's ability to address the deficiencies raised by the British Columbia Securities Commission
and to complete and file a new technical report for its Tepal and San Acacio projects.
Forward-looking information is necessarily based upon a number of estimates and assumptions that,
while considered reasonable by Defiance, are inherently subject to significant technical, political,
business, economic and competitive uncertainties and contingencies, which are beyond the
Company's ability to control or predict, that may cause the actual results of the Company to differ
materially from those discussed in the forward-looking statements. Known and unknown factors could
cause actual results to differ materially from those projected in the forward-looking information.
Factors and assumptions that could cause actual results or events to differ materially from current
expectations include, among other things and without limitation: the inability of the Company to
access the Tepal project; political risks associated with the Company's operations in Mexico; the
inability of the Company and its subsidiaries to enforce their legal rights in certain circumstances;
failure to establish estimated mineral resources, the possibility that future exploration results will not
be consistent with the Company's expectations; and other risks disclosed in the Company's public
disclosure record on file with the relevant securities regulatory authorities. For additional risk factors,
please see the Company's most recently filed Management Discussions & Analysis for its quarter
ended December 31, 2023 available on SEDAR+ at
www.sedarplus.ca
.
There can be no assurances that forward-looking information and statements will prove to be accurate,
as many factors and future events, both known, and unknown could cause actual results, performance
or achievements to vary or differ materially from the results, performance or achievements that are or
may be expressed or implied by such forward-looking statements contained herein or incorporated by
reference. Accordingly, all such factors should be considered carefully when making decisions with
respect to Defiance, and prospective investors should not place undue reliance on forward looking
information. Forward-looking information in this news release is made as at the date hereof. The
Company assumes no obligation to update or revise forward-looking information to reflect changes in
assumptions, changes in circumstances or any other events affecting such forward-looking
information, except as required by applicable law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/204900