Vancouver, British Columbia--(Newsfile Corp. - October 10, 2024) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) ("Defiance" or the "Company")  would like to clarify certain statements contained in its news release dated July 12, 2024.

On July 12, 2024, the Company announced that it has previously engaged an arm's length party, AXINO Media GmbH ("AXINO") to perform services for the Company, including investor relations activities, as defined in accordance with the policies of the TSX Venture Exchange and applicable securities laws. The Company would like to clarify that the engagement of AXINO was effective as of July 1, 2024 and prior to that date, AXINO had not been engaged by the Company.

ABOUT AXINO Media GmbH (https://www.axino.com)

AXINO is a privately owned full-service investor relations firm based in Esslingen, Germany. Since 2000, it specializes in representing resource sector companies that wish to obtain investor exposure and develop a shareholder following in the European financial markets, with a special focus on the German-speaking financial communities. AXINO's clients in the resource sector include such reputable companies as Agnico-Eagle Mines Ltd., Endeavour Silver Corp., Global Atomic Corp., HIVE Digital Technologies Ltd., Metallic Minerals Corp., Rio Alto Mining Limited, Sonoro Gold Corp., and many others.

On July 12, 2024, the Company announced that it had previously entered into an arm's length administrative services agreement dated May 1, 2023, for services provided by an officer of the company. The Company wishes to clarify that the agreement between the officer and the Company is non-arm's length.

About Defiance Silver Corp.

Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) is an exploration company advancing the district-scale Zacatecas project, located in the historic Zacatecas Silver District and the 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 advance our projects through capital-efficient exploration focused on resource growth and new mineral discoveries.

On behalf of Defiance Silver Corp.

"Chris Wright"

Chairman of the Board

For more information, please contact: Investor Relations at +1 (604) 343-4677 or via email at [email protected].

www.defiancesilver.com

Suite 2900-550 Burrard Street
Vancouver, BC V6C 0A3
Canada
Tel: +1 (604) 343-4677
Email: [email protected]