Vancouver, British Columbia--(Newsfile Corp. - February 28, 2018) - Defiance Silver Corp. (TSXV: DEF)
(OTC: DNCVF) ("Defiance") is pleased to announce that it has identified a significant new target at
depth at the San Acacio Project in Zacatecas, Mexico. The large open-ended target covers an area extending over 200 meters in a
northwest to southeast direction along the 900-meter under-explored portion of the Veta Grande vein, immediately southeast of the
San Acacio deposit. This new target was identified by an Induced Polarization ("IP") survey following up on recent drilling and
measures 200 meters long by 300 meters wide, starting at a depth of approximately 200m below surface on the surveyed area. The
anomaly remains open in all directions and required an additional IP survey to close off the anomaly on the property. The anomaly
correlates with the known strike and dip of the vein and occurs near where drill holes SAD17-18 and SAD17-19 intersected wide zones
of anomalous silver mineralization that displayed characteristics of being high-level vein intercepts. The target remains to be
drill tested and has the potential to host a virgin silver shoot at depth.
"We are pleased that our recent exploration program confirms our geological model that the Veta Grande vein continues to pinch
and swell along strike. IP and drilling have delineated a coincident target with strong potential to host a virgin silver shoot,"
stated Peter J. Hawley, President and CEO. "While it is still in its early days, this proves that the Veta Grande's potential
continues along its 4.4km of strike length yet to be tested. We are excited with the target and look forward to drilling it."
All of the known silver shoots on the Veta Grande vein have already historically produced 200 million ounces of silver with the
silver shoots at San Acacio containing a further resource totaling 18 million ounces silver (43-101 Inferred Mineral Resource
Estimate).
Preliminary drill results from the first 2000 meters drilled along the 900 meter underexplored portion of the Veta Grande vein
mostly returned mineralization and metals grades consistent with the pinching of the vein. Holes SAD17-18 (9.8 meters of anomalous
silver) and SAD17-19 (27.76 meters of anomalous silver) discovered wide zones of amethyst-hosting vein that elsewhere on the Veta
Grande vein are associated with silver shoots and high-grade silver mineralization. The mineralization in the amethyst-rich holes
had characteristics indicative of being at a high-level in the vein system. Upon receiving final interpretation of the IP results,
Defiance intends to recommence drilling.
A Panoramic Video on the San Acacio Deposit is
available on our website, or Click Here to visit our Defiance
YouTube Channel. 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 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.
Mr. Peter J. Hawley, P.Geo. Interim President & CEO, Chairman of the Board to Defiance Silver Corp, is a Qualified Person within
the meaning of National Instrument 43-101, and has approved the technical information concerning the Company's material mineral
properties contained in this press release.
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 pannu@defiancesilver.com
2300 - 1177 West Hastings Street
Vancouver, BC V6E 2K3
www.defiancesilver.com
Tel: 604-669-7315
Email:info@defiancesilver.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
