Defiance Silver and ValOro Resource_17092018

Defiance Silver Corp. (“Defiance”) (TSX-V: DEF) and ValOro Resources Inc. (“ValOro”) (TSX-V: VRO) are pleased to announce that they entered into a Letter of Intent on September 5, 2018 (“LOI”) to complete a friendly merger that will create a significant Mexico focused explorer with an advanced portfolio of silver and gold projects (the “Transaction”). The combined company will continue under the name of Defiance Silver Corp. and will be led by a highly experienced management team from both companies, including Mr. Peter J. Hawley (Americas Silver Corp), Mr. Randy Smallwood (Wheaton Precious Metals Corp.), Mr. George Brack (Capstone Mining Corp.), Mr. Darrell Rader (Minaurum Gold Inc.), Mr. Paul Smith (Ocean Partners Holdings Ltd.), Mr. Dunham Craig (ValOro Resources Inc.) and Mr. Ron Sowerby.