Vancouver, British Columbia–(Newsfile Corp. – August 18, 2020) – Defiance Silver Corp. (TSXV: DEF) (OTC Pink: DNCVF) (FSE: D4E) (the “Company“) is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc., as lead agent and sole bookrunner (the “Lead Agent“), on its own behalf and, if applicable, on behalf of a syndicate of agents (together with the Lead Agent, the “Agents“) in connection with a best efforts, private placement of up to 20,590,000 units of the Company (the “Units“) at a price of C$0.34 per Unit (the “Offering Price“) for gross proceeds of up to C$7,000,600 (the “Offering“).