Defiance Silver Corp. (DEF: TSX-V) (“Defiance”), an emerging silver explorer currently advancing the past producing San Acacio mine in Zacatecas, Mexico, is pleased to announce that it has raised $1,007,510 through the issuance of 10,075,100 units at $0.10. Each unit consists of one common share and half a common share purchase warrant. Each full warrant will entitle the holder thereof to acquire an additional common share of Defiance for a period of eighteen (18) months at an exercise price of $0.15. No finders’ fees were paid in connection with this financing. The securities issued under the offering will be subject to a four month hold period in accordance with applicable Canadian securities laws.
The funds raised in this financing will be used to advance its San Acacio silver deposit currently measuring a total contained 17,961,000 Silver Equivalent ounces within an inferred resource of 2.902 mt at a Silver Equivalent Grade of 192.50 g/t Ag (see Press Release dated January 15, 2015) and follow up of encouraging results from its current drill program. Defiance recently intercepted wide zones of mineralization under its current resource limits (see the Press Release dated January 29, 2015) and is awaiting assay results from an additional five holes which will be released as they are received.
“With this financing secured, Defiance can continue with its drill program aimed at expanding its resource below the current historical workings,” said Bruce Winfield, CEO of Defiance Silver. “We are anxious to follow up on the extremely good results we have encountered to date. The drilling has been a continuation to what has been a very active 12 months for the Company which has seen Defiance secure a cornerstone investor, obtain its full surface rights, extend its payment schedule on the property and add significant expertise to its board. Much of the funding that was received has come from current investors and we want to thank them for their continued support of our efforts.”
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 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 .
|1610 - 409 Granville Street||www.defiancesilver.com|
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