Vancouver, B.C., December 21, 2011 — Defiance Silver Corp. (TSX-V: DEF) (the “Company”) announces the granting of incentive stock options to its directors, officers, employees and consultants to purchase up to 120,000 common shares in its capital stock at a price of $0.60 per share, exercisable for a period of five years.

The grant of stock options thereunder is subject to TSX Venture Exchange approval.

On behalf of the Directors

“W.D. Bruce Winfield”

W.D. 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.