Defiance Silver Corp. (“Defiance” or the “Company”) is pleased to announce that due to significant demand, the Company has increased the size of its previously announced private placement with Red Cloud Securities Inc. (“Red Cloud”) to sell up to 12,777,778 units of the Company (the “Units”) at a price of C$0.90 per Unit (the “Offering Price”) for gross proceeds of up to C$11,500,000 (the “Offering”). The Company and Red Cloud have further agreed to eliminate the previously disclosed agent’s option.