Defiance Commences Drilling at San Acacio

May 16th, 2017

Defiance is pleased to announce that it has commenced a drill program at the San Acacio Silver Project in the Zacatecas silver district. This drill program will target the expansion of the current deposit and will focus specifically on following up on the Esperanza and Almaden Targets. Previous drilling at Esperanza intersected 12.7m grading 297g/t Silver Equivalent (“AgEq”).At Almaden, drilling returned 8.3m grading 278 g/t AgEq. Both of these targets are open to depth and along strike.

A third target that will be tested is the Quartz-Pyrite Breccia that was discovered in the Guadalupe area of the project. The Breccia exhibits signs that it may represent a completely new system richer in gold and zinc mineralization.

“We are excited to commence drilling at the San Acacio deposit and to follow up on the many targets that exhibit the potential to dramatically increase the size of the current resource. The current focus continues to be on the portion of the San Acacio project that has returned strong results, namely beneath the 1.2 km of historic workings on the vein along with the newly defined Quartz-Pyrite Breccia target.” said Bruce Winfield, President and CEO of Defiance Silver Corp.

Defiance drilling to date has extended mineralization below the base of the current resource in two of the past producing zones, Almaden and Guadalupe. Results were excellent, producing long intersections of high grade mineralization in the extension to depth of two of the zones as follows.

Zone Hole
#
From
(m)
To
(m)
Length
(m)***
Ag
g/t
Au
g/t
Cu
%
Pb
%
Zn
%
AgEq
g/t*
Almaden SAD14-01 132.50 149.50 17.00 110.21 0.13 0.01 0.11 0.35 139.15

including 134.00 142.10 8.10 222.12 0.22 0.01 0.20 0.53 268.13
Almaden SAD14-02 168.50 185.20 16.70 101.11 0.75 0.02 0.14 1.79 235.36

including 168.50 171.70 3.20 419.09 0.82 0.02 0.14 0.30 499.43

including 176.20 182.10 5.90 30.15 1.46 0.03 0.23 4.62 334.68
Almaden SAD14-03 194.50 213.30 18.80 21.37 0.42 0.02 0.84 1.10 128.03

including 205.00 213.30 8.30 42.89 0.92 0.04 1.87 2.44 278.33
Almaden SAD14-04 143.00 153.10 10.10 100.23 0.56 0.13 0.77 1.61 248.11

including 147.00 153.10 6.10 138.35 0.80 0.19 1.27 1.90 340.41
Almaden SAD15-07 136.40 140.00 3.60 211.49 0.14 0.01 0.11 0.20 234.17

SAD15-07 147.10 149.50 2.40 149.16 0.16 0.02 0.42 1.59 241.55

SAD15-07 185.40 206.50 21.10 70.84 0.24 0.03 0.35 0.77 134.87

including 199.10 206.50 7.40 158.75 0.52 0.07 0.81 1.83 306.68
Guadalupe SAD15-10** 331.50 343.45 11.95 Veta Grande vein

including 331.5 333.6 2.1 283.31 0.17 0.01 0.38 0.70 337.75

** 333.60 335.65 2.05 Mine Opening on Veta Grande

including 335.65 341.15 5.5 96.65 0.26 0.03 0.61 1.34 194.32

** 341.15 341.85 0.7 Mine Opening on Veta Grande

including 341.85 343.45 1.60 19.44 0.12 0.02 0.40 1.58 106.88

SAD15-10**** 331.50 343.45 11.95 96.87 0.17 0.02 0.40 0.95 163.07

* Reported for comparison only, with no assumptions regarding metal recovery or smelter payments. Prices used are Au: $1210.50/ounce, Ag: $16.33/ounce, Cu; $2.80/pound, Pb; $0.83/pound and Zn $0.95/pound. US dollars.
** Grade not calculated because of no data for open mine workings.
*** True Widths are approximately 70% to 80% of each intersection.
**** Calculated using zero grade for the mine openings.

Results from drill hole SAD15-10 includes two historic mine openings that were assigned no grade. Even with this artificially low assumption, the intercept returned the strong grade of 163.07g/t Ag Eq. It can be assumed that the high-grade was mined out by the historical miners.If this were to have been left in-situ, the grade would have been considerably higher.This extends the depth of the strongly mineralized main vein 150m below the base of the current resource.

A Panoramic Video on the San Acacio Deposit is available on our website, or Click Here to visit our Defiance YouTube Channel. Defiance Silver Corp. is a silver explorer and developer advancing the San Acacio Deposit, located in the historic Zacatecas Silver District of central Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring and developing 11 operating mines to date. Defiance’s corporate mandate is to expand San Acacio to become one of Mexico’s premier high grade wide vein silver deposits. For more information on the property or Defiance, please visit Defiance’s website at www.DefianceSilver.com.

On behalf of Defiance Silver Corp.

“Bruce Winfield”

President and CEO

2300 - 1177 West Hastings Street

www.defiancesilver.com; info@defiancesilver.com

Vancouver, BC V6E 2K3

Tel: 604-669-7315

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


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