Defiance Silver Announces a Mineral Resource Estimate for the Tepal Project and Filing of Supporting NI 43-101 Technical Report

Defiance Silver Corp. has released a comprehensive mineral resource estimate for its 100%-owned Tepal Gold-Copper Project located in Michoacán State, Mexico, marking a significant milestone in the project's development. The NI 43-101 compliant resource estimate, prepared by independent consultancy Micon International Limited, establishes substantial Measured & Indicated resources of 111.67 million tonnes averaging 0.26 g/t gold, 0.19% copper, and 1.55 g/t silver, containing 926,000 ounces of gold, 473.86 million pounds of copper, and 5.58 million ounces of silver. Additional Inferred resources total 124.36 million tonnes with similar grade characteristics.

The resource estimate demonstrates strong technical fundamentals with metallurgical testing indicating robust recoveries of 86% copper and 54% gold for the North/South zones, and 84% copper and 50% gold for the Tizate Zone, producing a high-grade 23% copper concentrate with gold credits. The estimate utilized conservative cut-off grades of $13/tonne NSR for oxidized zones and $15/tonne NSR for sulphide zones, with all resources contained within an optimized pit shell assuming conventional open pit mining methods.

This resource estimate positions Tepal as a significant polymetallic development opportunity in Mexico's established mining jurisdiction. The project's scale, combined with its multi-commodity profile and strong metallurgical characteristics, provides Defiance with multiple value creation pathways as copper and gold prices remain elevated. The inclusion of silver credits for the first time, along with identified molybdenum potential awaiting further metallurgical work, suggests additional upside potential.

Micon's recommendations for continued exploration and development work, including potential underground mining scenarios for the steeply-dipping Tepal South Zone, indicate opportunities for resource expansion and optimization. The successful completion of this maiden resource estimate establishes a foundation for advancing toward preliminary economic assessments and potential feasibility studies, positioning Defiance to capitalize on strong fundamentals in the copper-gold sector.