Mr. Chris Wright reports

DEFIANCE SILVER CORP. ANNOUNCES UPSIZE OF THE BROKERED LIFE OFFERING AND NON-BROKERED PRIVATE PLACEMENT FOR AGGREGATE GROSS PROCEEDS OF UP TO C$14.5 MILLION

Defiance Silver Corp., as a result of strong investor demand, has increased the size of its previously announced best efforts private placement from aggregate gross proceeds of up to $8-million to aggregate gross proceeds of up to $13-million. The upsized marketed offering comprises the sale of up to 52 million units of the company at a price of 25 cents per unit.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price of 35 cents at any time on or before that date that is 24 months following the closing date (as herein defined).

Red Cloud Securities Inc. is acting as sole agent and bookrunner in connection with the brokered offering (as defined herein). The company has granted the agent an option, exercisable in full or in part up to 48 hours prior to the closing of the marketed offering, to sell up to an additional eight million units at the offering price for additional gross proceeds of up to $2-million. The marketed offering and the securities issuable upon exercise of the agent's option shall be collectively referred to as the brokered offering.

Concurrent with the brokered offering, the company plans to complete a non-brokered (NB) private placement of up to six million units of the company at a price of 25 cents per NB unit for additional gross proceeds of up to $1.5-million. The NB units will be issued on substantially the same terms as the units. The NB units will be offered by way of the accredited investor and minimum amount investment exemptions under National Instrument 45-106, Prospectus Exemptions.

The company intends to use the net proceeds of the brokered offering for further exploration work on the company's projects, to complete a mineral resource estimate at its San Acacio project, to make periodic cash option payments on its Tepal project and to provide general working capital to support operations, as more fully described in the amended offering document (as defined herein). The net proceeds of the non-brokered offering will be used to provide general working capital.

Subject to compliance with applicable regulatory requirements and in accordance with NI 45-106, the units will be offered for sale pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The common shares and the warrant shares underlying the units are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada.

There is an amended offering document related to the brokered offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this amended offering document before making an investment decision.

The offered securities may also be sold in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in those other jurisdictions outside of Canada and the United States, provided it is understood that no prospectus filing or comparable obligation arises in such other jurisdiction. All securities not issued pursuant to the listed issuer financing exemption will be subject to a hold period in accordance with applicable Canadian securities law, expiring four months and one day following the issue date of the offered security.

The brokered offering is scheduled to close on June 17, 2025, or such other date as the company and the agent may agree. Completion of the offerings are subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

About Defiance Silver Corp.

Defiance 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.

We seek Safe Harbor.