Defiance Closes Final Tranche of Private Placement

Vancouver, British Columbia--(Newsfile Corp. - May 6, 2019) - Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) ("Defiance") is pleased to announce that it has closed the final tranche of its previously announced private placement (the "Offering") in the amount of $280,230 and has issued in connection therewith 1,401,152 units ("Units") at a price of $0.20 per Unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to acquire an additional common share of Defiance at an exercise price of $0.30 until May 3, 2021. In total, Defiance raised $2,567,620 in its private placement.

With the closing of the private placement, Defiance has commenced designing a drill program to test its San Acacio Silver project.

In connection with the final tranche closing, Defiance paid finder's fees of $10,200 and issued 51,000 non-transferable broker warrants. Each broker warrant entitles the holder to acquire one common share of Defiance at an exercise price of $0.20 until May 3, 2021. The securities issued under the Offering will be subject to a four month hold period expiring on September 4, 2019. The Offering remains subject to the final approval of the TSXV Venture Exchange.

Mr. Peter J. Hawley, P.Geo. Interim President & CEO, Chairman of the Board to Defiance Silver Corp, is a Qualified Person within the meaning of National Instrument 43-101 and has approved the technical information in this press release.

About Defiance Silver Corp.

Defiance Silver Corp. (TSXV: DEF) (OTC: DNCVF) (FSE: D4E) is a district scale resource exploration company advancing the 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. Please visit our YouTube channel for more information on our projects.

On behalf of Defiance Silver Corp.

"Peter J. Hawley"

Interim President & CEO
Chairman of the Board, Director

For more information, please contact: Sunny Pannu - Corporate Development (604) 669 7315 or via email at pannu@defiancesilver.com

2300 - 1177 West Hastings Street
Vancouver, BC V6E 2K3
www.defiancesilver.com
Tel: 604-669-7315
Email: info@defiancesilver.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44532