Defiance Silver Corp. (“Defiance”) (TSX-V: DEF) and ValOro Resources Inc. (“ValOro”)
(TSX-V: VRO) are pleased to announce that their friendly merger (“Transaction”) under the Business Corporations Act (British Columbia) will be completed effective 11:59 pm on Monday, December 31, 2018 and will create a leading diversified explorer with an advanced portfolio of Mexican silver and gold projects. ValOro shareholders voted 98% in favour of the Transaction at a special general meeting held on Wednesday, December 19, 2018.