Defiance Silver Signs Long-Term Access Agreement At Tepal

Published: 2025-06-04 16:51:38 ET DEF.V

Published on 06/04/2025 at 16:51

Defiance Silver Corp. announced that through its subsidiary, Geologix Mexico S.A. de C.V., it has successfully secured a long-term surface access agreement (the "Agreement") for its 100%-owned Tepal Gold-Copper Project, located in Michoacan, Mexico. Surface Rights Agreement Highlights.

Under the terms of the six-year agreement, the Company has secured the right to conduct surface exploration, drilling, and engineering studies at the Tepal Gold- Copper project. Defiance announced that it has successfully restructured the option agreement to acquire the 2.5% Net Smelter Return (NSR) royalty associated with its Tepal Gold-Co Copper project with the project vendor, Minera Tepal S.A. de C., The revised payment schedule for the NSR option agreement is USD 75,000/month starting July 1, 2025 through February 1, 2026, and then USD 150,000/month from July 1, 2026 through September 1, 2027. Extension of San Acacio Option Payment.

Additionally, the Company has secured an extension for the final payment of the option agreement on the San Acacio land package at its Zacatecas Silver-Polymetallic project. Defiance through its wholly owned subsidiary, Minera Santa Remy S.A., has, at the Vendor's request, agreed to extend the term of its option to acquire 100% of the San Acacio property in the Zacatecas district. As a result of this amendment, the scheduled payment due March 31, 2025, has now been changed to June 30, 2026.

The amendment was signed by both parties and is pending ratification in the presence of a notary public in Mexico City. There were no changes to the economic terms of the option agreement.