Vancouver, British Columbia--(Newsfile Corp. - May 11, 2026) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) ("Defiance" or the "Company") is pleased to provide an update on the current drilling campaign at the Zacatecas Project. The campaign was designed to confirm the extension of the known mineralized structures both laterally and vertically as well as to validate the current geological model that will be used for the upcoming Mineral Resource Estimate. This release contains results from holes: DDSA-25-78 through DDSA-25-81, representing 1,486m of drilling. A total of 4,039m of the 10,000m diamond drill program has been reported to date.

HIGHLIGHTS OF RESULTS

• DDSA-25-80 returned 1.20m of 356.00 g/t Ag and 2.15 g/t Au (from 106.85m to 108.05m) hosted within a larger interval of 11.02m (100.78m to 111.80m) grading 125.41 g/t Ag and 0.81 g/t Au.

• DDSA-25-78 returned a 2.14m interval grading 111.12 g/t Ag from (267.96m to 270.10m). including 0.68m of 208.00 g/t Ag (268.65m to 269.33m).

• DDSA-25-81 returned 2.63m of 111.32 g/t Ag (from 417.12m to 419.75m) including 0.26m of 543.00 g/t Ag (from 417.12m to 417.38m).

Overview Map of Drill Locations

Figure 1. Overview Map of Drill Locations. Plan map of the San Acacio project area. Drill holes reported in this release are shown with yellow collars and traces, with selected highlights in boxes. Coordinates are in UTM WGS84 Zone 13N.

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Simplified Cross Section, Looking NW, with New Results from Hole DDSA-25-80

Figure 2. DDSA-25-80 Simplified Cross Section, looking NW

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Table of Results

Table 1. Table of Results. True thickness is assumed to be 50% - 80% of downhole width.

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DISCUSSION OF RESULTS

Defiance announced the start of the drill program on September 12, 2025. This release includes 1,486m of drilling as part of a minimum 10,000m drill program designed to collect additional data in the San Acacio historical resource area. These holes were designed to improve the main Veta Grande structural model and to infill poorly drilled zones, as well as to test both hanging wall and footwall splays of the Veta Grande system, including the Veta Navidad.

Through surface mapping and drilling, the company has identified at least 3 blocks on the main Veta Grande structure. These blocks are delimited by major N-NW striking faults, where displacement of the veins, mineralization styles, and hanging wall splays occurred. The displacement of the veins and vein structures in the main resource area can be estimated between 15 and 30m.

The current blocks are being delimited by the San José and San Genaro faults. Systems are named as follows: the NW Block, Central Block and SE Block. The NW block includes Carolina and Almadén pits; the Central block includes Esperanza and part of Guadalupe pits; and the SE block includes part of Guadalupe area to Refugio-Tiro Intermedio area.

Drillhole DDSA-25-78 was designed to test the continuity of the Veta Grande and hanging wall splays in the SE Block of the Resource Area, between drillholes DDSA-23-67 and DDSA-21-41. The hole cut a wide interval of well-developed Veta Grande vein and veinlet arrays on the hanging wall with some significant grades.

Drillhole DDSA-25-79 targeted an information gap between historical drillholes SAD95-21 and SAD95-22 about 60m below surface. This drillhole encountered the projection of the mapped vein previously intersected by the holes described above; however, at this level the vein is broken, missing, and displaced by a fault zone.

Drilling of these two drillholes confirms that, in this area of the SE Block, Veta Grande is well developed, especially at depth. In the very limited drilling done to date, this zone carries low-grade mineralization; however, the existence of significant grades was confirmed in narrow hanging wall structures.

Drillhole DDSA-25-80 is a twin of SAD95-16. Drillhole SAD-17-12 intersected a wide interval of mineralization that wasn't intercepted on drillhole SAD95-16, therefore it was suspected the drillhole might have fallen short. Drillhole DDSA-25-80 targeted the near-surface Veta Grande structure, and the thickness and grades reported in the historical drillhole SAD-17-12 were confirmed.

Drillhole DDSA-25-81 was intended to test the downdip extension of mineralization intersected in drillhole DDSA-22-52. This drillhole intercepted a narrow, low-grade interval in Veta Grande, as well as some narrow veins and veinlet zones on the hanging wall.

Collar Information for Reported Drill Holes:

Table 2. Drill collar details. All coordinates in WGS84 UTM Zone 13N

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DISCUSSION OF QA/QC AND ANALYTICAL PROCEDURE

Samples were selected based on the lithology, alteration, and mineralization characteristics; sample size ranges from 0.25 – 2m in width. All altered and mineralized intervals were sent for assay. One blank, one standard, and one duplicate were included within every 20 samples. Standard materials are certified reference materials [CRMs] from OREAS and CDN that contain a range of Ag, Au, Cu, Pb, and Zn values. Blanks, standards, and duplicates did not detect any issues with the analytical results.

Samples were analyzed by ALS Chemex Laboratories. Sample preparation was performed at the Zacatecas, Mexico, prep facility, and analyses were performed at the Vancouver, Canada, analytical facility. All elements except Au and Hg were analyzed by a multi-element geochemistry method utilizing a four-acid digestion followed by ICP-MS detection [ME-MS61m]; mercury was analyzed after a separate aqua regia digest by ICP-MS. Overlimit assays for Ag, Pb, and Zn were conducted using the OG62 method (multi-acid digest with ICP-AES/AAS finish). Gold was measured by fire-assay with an ICP-AES finish [50g sample, Au-ICP22].

ABOUT DEFIANCE SILVER CORP.

Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) (FSE: D4E) is an exploration company focused on advancing district-scale precious and base metal projects in Mexico. The Company's portfolio includes: The Zacatecas Project in the historic Zacatecas Silver District, the 100%-owned Tepal Gold-Copper Project in Michoacán, and the Green Earth Metals property portfolio in Sonora State. Defiance is led by a proven management and technical team with experience advancing exploration assets through discovery and development. The Company is committed to capital-efficient exploration, disciplined growth, and responsible development.

On behalf of Defiance Silver Corp.

"Chris Wright"

Chairman of the Board

Qualified Person Statement
Mr. George Cavey, P. Geo, 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.

Disclaimer
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.

Caution Regarding Forward-Looking Information
Information contained in this news release which are not statements of historical facts may be "forward-looking information" for the purposes of Canadian securities laws. Such forward-looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward looking information. The words "believe", "expect", "anticipate", "contemplate", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule", "understand" and similar expressions identify forward-looking information. These forward-looking statements relate to, among other things: the Company's expectations regarding the ability of the Mining Bureau of Mexico City to reinstate ownership of the concessions to the Company, cooperation with the Mining Bureau relating to such reinstatement and the potential for any successful solution resulting therefrom.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Defiance, are inherently subject to significant technical, political, business, economic and competitive uncertainties, and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information. Factors and assumptions that could cause actual results or events to differ materially from current expectations include, among other things: the inability of the Company to regain possession of its concessions; political risks associated with the Company's operations in Mexico; the failure of the Mining Bureau in Mexico City to take any coercive action to reinstate ownership of the concessions to the Company; and the inability of the Company and its subsidiaries to enforce their legal rights in certain circumstances. For additional risk factors, please see the Company's most recently filed Management Discussions & Analysis for its quarter ended February 29, 2024, available on SEDAR at www.sedarplus.ca.
There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results, performance, or achievements to vary or differ materially from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained herein or incorporated by reference. Accordingly, all such factors should be considered carefully when making decisions with respect to Defiance, and prospective investors should not place undue reliance on forward looking information. Forward-looking information in this news release is made as at the date hereof. The Company assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.

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Source: Defiance Silver Corp.