Defiance Silver Corp. (“Defiance” or the “Company”) is pleased to announce that it has entered into an option to acquire 1,915 Ha surrounding the Tepal Gold-Copper Project in Michoacán, Mexico. Defiance has agreed to pay the annual concession fees until a production decision has been made, upon which Defiance will pay the vendor USD $2 million for 100% ownership of the mining concessions.
Chris Wright, Chairman & CEO of Defiance commented, “The agreement to acquire this additional license more than doubles Defiance’s footprint at the Tepal Project. Not only does the land package contain good exploration potential, the license area underlies key proposed mine infrastructure as defined by the 2017 Preliminary Economic Assessment.”
Defiance has undergone a substantial desktop review of the Tepal asset and looks forward to following up on key targets generated during this review.
Defiance also announces that Darrell Rader has stepped down from the Company’s Board of Directors. Mr. Rader has served as a Director of the Company since its inception.
“On behalf of the Company and the Board, I would like to thank Darrell for his service to the Company. As one of the original founders of Defiance, Darrell’s contributions towards helping the company advance its Zacatecas silver projects and develop the Tepal gold-copper project were significant. We wish Darrell all the best in his future endeavors,” said Chris Wright.
About Defiance Silver Corp.
Defiance Silver Corp. (DEF | TSX Venture Exchange; DNCVF | OTC; D4E | Frankfurt) is an exploration company advancing it’s district-scale Zacatecas Projects, located in the historic Zacatecas Silver District and the 100% owned Tepal Gold/Copper Project in Michoacán state, Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring, advancing and developing several operating mines and advanced resource projects. Defiance’s corporate mandate is to expand the Zacatecas and Tepal projects to become premier Mexican silver and gold deposits.
Mr. George Cavey, P.Geo, is a Qualified Person within the meaning of National Instrument 43-101 and has approved the technical information concerning the Company’s material mineral properties contained in this press release.
On behalf of Defiance Silver Corp.
Chairman of the Board
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This news release may contain forward-looking statements including but not limited to comments regarding timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Defiance Silver Corp. relies upon litigation protection for forward-looking statements.