Defiance Silver Corp (TSXV: DEF) (the “Company”). Further to the Company’s news release of February 17, 2012, the Company advises it will no longer be proceeding with the balance of the non-brokered private placement.

Defiance Silver Corp. is a near-term silver producer in Mexico. With a strong team of proven mine developers, Defiance is focused upon being an aggressive explorer and acquirer of silver projects in the historic billion-ounce silver producing Zacatecas District.

On behalf of Defiance Silver Corp.

“Bruce Winfield”
President and CEO

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.