Defiance Silver Corp. (“Defiance”) is pleased to announce it has successfully renegotiated and extended the terms of its San Acacio Silver Project option agreement.The project vendor has agreed to postpone a substantial amount of the payments due in 2018 to September 27, 2020.As a result, Defiance will be making four quarterly payments of US$226,900 totaling US$907,600 in year one and four quarterly payments of US$250,000 totaling US$1,000,000 in year two with the final option payment due September 2020.
“We are very pleased with the extension of the San Acacio option to 2020 and would like to thank our property vendor for their continued support of Defiance.We plan to use this additional financial flexibility to continue focusing our exploration efforts on the as-yet unexplored extension of the Veta Grande vein” stated Peter J. Hawley, President and CEO.
Defiance Silver Corp. (DEF | TSX Venture Exchange; DNCVF | OTC; D4E | Frankfurt) 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 7 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.A Panoramic Video on the San Acacio Deposit is available on our website.
On behalf of Defiance Silver Corp.
“Peter J. Hawley”
Interim President & CEO
Chairman of the Board, Director
For more information, please contact: Sunny Pannu – Corporate Development (604) 669 7315 or via email at firstname.lastname@example.org
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