Defiance Silver and ValOro Resource_281218_nr

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; and ValOro obtained a final order from B.C. Supreme Court on December 21, 2018 authorizing completion of the Transaction.