Overview

The Tepal project is located in the state of Michoacán, near the border of Jalisco in Western, Mexico. The project is characterized by rolling hills within the forest of the Tepalcatepec river basin, with excellent project access via paved highways and maintained ranch roads in the heavily agri-business and local and independent mining operations. To date, mapping, sampling, and drilling confirm three main deposits, the North, South, and Tizate zones. Supported a Preliminary Economic Assessment (PEA) in 2017, Tepal is a large project that contains a significant potential open-pitable mineral resource. Tepal’s current NI 43-101 mineral resource estimate, which is now being amended, comprises over 4 million gold-equivalent ounces in the Measured & Indicated categories, with potential to add ounces and improve grade in structurally-controlled epithermal zones.

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Forward-Looking Statements

Certain statements contained in this website constitute forward-looking statements. These statements relate to future events or Defiance Silver’s future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to commercial mining operations, anticipated mineral recoveries, protected quantities of future mineral production, interpretation of drill results, anticipated production rates and mine life, operating efficiencies, capital budgets, costs and expenditures and conversion of mineral resources to proven and probable mineral reserves, analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable mineral reserves and mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed, and in the case of mineral resources or proven and probable mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “outlook” and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Defiance Silver believes that the expectations reflected in those forward looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this website should not be unduly relied upon. Defiance Silver does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements involve risks and uncertainties relating to, among other things, results of exploration and development activities, Defiance Silver’s historical experience with development-stage mining operations, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, changes in commodity prices and, particularly, silver prices, actual operating and financial performance of facilities, equipment and processes relative to specifications and expectations and unanticipated environmental impacts on operations. Actual results may differ materially from those expressed or implied by such forward-looking statements.