Defiance Silver Corp. (DEF: TSX-V) (“Defiance”) is pleased to announce that it has signed an agreement with the Ejido Sauceda de la Borda that grants Defiance temporary occupation rights to carry out exploration within all of the mineral concessions underlying the Ejido lands. Combined with existing surface access rights, Defiance now has the ability to conduct surface work and drilling along the entire 5.6 km strike length of the San Acacio vein system.
“We are very pleased to have been able to conclude this agreement with the members of the Ejido Sauceda de la Borda. Obtaining these surface access rights is a key de-risking milestone in the development of San Acacio and allows us unrestricted access to the land overlying the entire project.” stated Bruce Winfield, President and CEO of Defiance. “This agreement will allow Defiance to explore not only along the 1km of old workings where the current drill program is focused on both increasing the existing 43-101 resource as well as testing the depth potential, but also along the virtually unexplored 4.6 km extension of the vein.”
The agreement is for an initial term of three years which can be renewed for an additional three year term at the election of Defiance. Terms include an annual payment of 120,000 Mexican pesos (approximately US$8275) with bonus of 100,000 Mexican pesos (approx. US$6896) paid on signing.
Defiance also announces that it has granted 100,000 incentive stock options under its stock option plan to a consultant. The options are exercisable on or before February 9, 2020, at a price of $0.15
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 please visit Defiance’s website at www.DefianceSilver.com.
Mr. Bruce Winfield, P.Geo. President of Defiance Silver Corp, is the Qualified Person for information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.
On behalf of Defiance Silver Corp.
President and CEO
For additional information please visit the Company’s website at www.DefianceSilver.com .
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