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Vancouver, British Columbia--(Newsfile Corp. - June 16, 2025) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) ("Defiance" or the "Company") is pleased to announce that it has finalized a six-year agreement that grants the Company the rights to conduct surface exploration, drilling, and engineering studies in support of its Tepal Gold-Copper Project located in Michoacán, Mexico (see news release dated June 3, 2025). The agreement also enables the Company to collect essential data required for the submission of permit applications to advance the development of the project.
As consideration for these rights, the Company will make annual cash payments, indexed to the annual rate of inflation in Mexico, and issue common shares with a total annual value of US$40,000/year to the surface rights holder. Over the six-year term, the total number of shares issued will not exceed 1,400,000.
For the upcoming year, the Company will issue 201,452 common shares at a deemed price of C$0.27 per share to the counterparty. This remains subject to approval of the TSX Venture Exchange.
On behalf of Defiance Silver Corp.
"Chris Wright"
CEO and Chairman of the Board
For more information, please contact:
Investor Relations
Tel: +1 (604) 343-4677
[email protected]
www.defiancesilver.com
Suite 2900-550 Burrard Street
Vancouver, BC V6C 0A3
Canada
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.
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's corporate mandate is to advance our projects through capital-efficient exploration focused on resource growth and new mineral discoveries.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255669
