Defiance Silver Corp. (“Defiance”) is pleased to announce that it has closed a non-brokered private placement in the amount of $3,323,106 and has issued in connection therewith 14,448,286 units (the “Units”) at a price of $0.23 per Unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to acquire an additional common share of Defiance at an exercise price of $0.31 until August 12, 2022.