Mr. Chris Wright reports

DEFIANCE SILVER CLARIFIES TECHNICAL DISCLOSURE

As a result of a continuous disclosure review by the B.C. Securities Commission, Defiance Silver Corp. is issuing the following news release to clarify its disclosure as it pertains to its technical reports entitled "NI 43-101 Technical Report Preliminary Economic Assessment on the Tepal Project, Michoacan, Mexico," dated Feb. 24, 2017, with an effective date of Jan. 19, 2017, on the Tepal project, and its technical report entitled "Technical Report and Resource Estimate, San Acacio Silver Deposit, Zacatecas State, Mexico," dated Sept. 26, 2014, with an effective date of April 1, 2014, on the San Acacio project.

To address these deficiencies under National Instrument 43-101 (Standards of Disclosure for Mineral Projects), the company understands it will need to amend the technical reports accordingly. On the Tepal project, as some of the authors of the Tepal report are no longer qualified persons under NI 43-101 due to, notably, retirement, the company is currently working with its technical advisers who participated in the preparation of the Tepal report on: (i) a feasible timeline to complete an amended report; and (ii) identifying new qualified persons to take on responsibility for the relevant chapters of the Tepal report in connection with the amended report. The company is working to file an amended technical report as soon as possible. The company will provide regular updates in connection with the preparation and filing of the amended technical report for its Tepal project.

As for the San Acacio report, the company is incapable of preparing an amended report for reasons beyond its control. Indeed, the authors of the San Acacio report were independent consultants and are no longer qualified persons under NI 43-101 due to, notably, retirement. In light of this regrettable situation, Defiance will be working with new technical advisers to prepare a new technical report that will replace the current San Acacio report. The company expects to file this new technical report by the end of March, 2024. The company will provide regular updates in connection with the preparation and filing of this new report for its San Acacio project.

At the present time, in light of the current situation, the company advises that the information relating to its projects contained in the technical reports should not be relied upon as they are not supported by compliant technical reports under NI 43-101.

Further and separate from the Tepal report and the San Acacio report addressed above, the company is also currently updating and clarifying additional disclosure contained on its website and in its corporate presentation.

About Defiance Silver Corp.

Defiance (TSX Venture Exchange: DEF) (OTCQX: DNCVF) (Frankfurt Stock Exchange: 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 Michoacan state, Mexico. Defiance is managed by a team of proven mine developers with a 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.

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