Defiance Silver Corp. · TSXV:DEF
Defiance Silver — Investor Presentation (June 2025)
30 slides from Defiance Silver's investor presentation, June 2025
Slide 1: Discovery-Focused Geoscience: Corporate Presentation, June 2025
DISCOVERY-FOCUSED GEOSCIENCE CORPORATE PRESENTATION, JUNE 2025 TSX.V: DEF | OTCQX: DNCVF | WKN: A1JQW5 | FSE: D4E
Slide 2: Disclaimer - Forward-Looking Information and Statements
DISCLAIMER - FORWARD-LOOKING INFORMATION AND STATEMENTS Scientific and technical information in this presentation has been reviewed and approved by George Cavey, P.Geo, Vice-president, Exploration, for the Company, a Qualified Person as defined by National Instrument 43 101 - Standards of Disclosure
Slide 3: Key Takeaways
KEY TAKEAWAYS DEFIANCE SILVER IS MORE THAN A SILVER EXPLORATION COMPANY 1. Two advanced projects and potential acquisition 2. Exposure to key commodities: gold, silver and copper 3. Historical leverage to commodities prices 4. Significant starting resources 5. A team with a history of success in Mex
Slide 4: Capital Structure
Capital Structure SHARE STRUCTURE ($CAD) TSX.V: DEF | OTCQX: DNCVF | WKN: A1JQW5 | FSE: D4E Trading 52 Week High-Low $0.38 - $0.17 TSXV 52-WEEK SHARE PRICE HISTORY TSX.V 30-Day Avg. Volume ~499.9K Source: LBMA, Refinitiv 2025 Q1 Consolidated 805K 90-Day Avg. Global Volume Share Price C$ Volume $0.50
Slide 5: Why Invest in Defiance Silver? Leverage to Precious Metals Prices
Why Invest in Defiance Silver? Leverage to Precious Metals Prices June 2015 to January 2025 $USD SILVER $USD/OZ 43.78% 155.64% 55.06% 40.77% $CAD DEF.V $CAD 1,882.67% TSX Venture Exchange 542.47% 927.74% 79.89% TSX.V: DEF | OTCQX: DNCVF | WKN: A1JQW5 | FSE: D4E Defiance Silver: Leverage to Precious
Slide 6: Why Invest in Defiance Silver? Consistent Explorers that Deliver
Why Invest in Defiance Silver? Consistent Explorers that Deliver Significant Results Team Projects Results • We are proud to include the • District-scale land packages in a premier • 90% accuracy rate at Veta founder of Windermere Capital as geological location, Mexico Grande our CEO. He is a succes
Slide 7: Why Mexico?
Why Mexico? Top 10 global producer of: Ag (#1), Au (#9), Cu (#10) Pb (#4), Zn (#6) Source: INEGI, 2019, Secretaría de Economía, 2021 Note that the Company and its qualified person have been unable to verify the information on this map and that the information is not necessarily indicative of the min
Slide 8: Defiance Silver to Acquire Mexico-Focused Green Earth Metals
Defiance Silver to Acquire Mexico-Focused Green Earth Metals See April 7th, 2025, News Release Defiance seeks to acquire, through a share exchange, Green Drill-Ready Earth Metals Inc, a private company with three copper-gold- La Victoria Project Porphyry-style silver-molybdenum projects in Mexico: 6
Slide 9: Zacatecas Project
ZACATECAS PROJECT Defiance controls the second-largest land position in the world-class Zacatecas mining district ü Mineral Resource Estimate expected in 2025 TSX.V: DEF | OTCQX: DNCVF | WKN: A1JQW5 | FSE: D4E TSX.V: DEF | OTCQX: DNCVF | WKN: A1JQW5 | FSE: D4E 9
Slide 10: Location: Zacatecas Project
Peñasquito Mine Mexico’s largest open pit gold mine (2022 Prod. 566,000oz Au)1 LOCATION Mexican Silver Belt La Preciosa Project Underground development commenced following receipt of all required permits (Jan 2025)2 La Colorada Mine 1800TPD high-grade underground operation3 Camino Rojo Mine A belt o
Slide 11: Concessions
CONCESSIONS 43-101 resource: 100% owned early-stage exploration Mexican Silver Belt 2.73M t grading 171.1g/t Ag and area with three historic drill campaigns 0.17g/t Au 12 by Pan American Silver • PAAS Retains 2% NSR • Multi-kilometer Polymetallic signature • Blind Silver System District-scale Land •
Slide 12: Zacatecas District Vein Systems
World-class Mining District Zacatecas District Vein Systems • Intermediate to low sulfidation epithermal veins • Veins in the district have persistent strike lengths (~4-16 km) and vary in width from less than 1m to upwards of 30m • Dominant vein systems are NW-striking and typically Ag-Zn- Pb ± Au,
Slide 13: San Acacio: Top Drill Intercepts
SAN ACACIO Top Drill Intercepts Drilling from 2010-2024 has encountered many additional intercepts of mineralized vein material below previous drilling campaigns Length* Ag Au Pb Zn Hole ID From (m) To (m) (m) g/t g/t % % DDSA-23-66 225.6 267.4 41.8 157.3 0.07 0.05 0.16 SAD-17-15 191.3 228.0 36.7 15
Slide 14: Lucita North
Neighbouring Panuco deposit 43-101 LUCITA NORTH resource: 2,733,000 t grading 171.1g/t Ag 1 and 0.17g/t Au. (Report for Zacatecas Silver by Morales-Ramirez, Keane, Barry, Puritch, Wu and Yassa: P&E Mining Consultants, Jan 28, 2022) High grade historical Ag drill results by PAAS: 2 • 1.25m @779 g/t A
Slide 15: Lucita South
LUCITA SOUTH 2021 and 2022 first-pass, 4,200m diamond drill completed on the Palenque vein 1 system. The widely spaced drill holes returned very encouraging results over ~4km strike length. 2 West: Discovery of a Blind Silver System: DDLU-22-10 Historically, the Fresnillo district is renowned for it
Slide 16: References
References Zacatecas Project 1. Peñasquito: https://s24.q4cdn.com/382246808/files/doc_financials/2022/q4/Newmont-Full-Year-and-Fourth-Quarter-2022- Operating-Statistics_Final2.pdf 2. La Preciosa: https://avino.com/news/2025/avino-commences-underground-development-at-la-preciosa/ 3. La Colorada: http
Slide 17: Tepal Project
TEPAL PROJECT Significant exploration target: un-tested, recently discovered high grade gold feeder system ü New Mineral Resource Estimate completed December 2024 TSX.V: DEF | OTCQX: DNCVF | WKN: A1JQW5 | FSE: D4E
Slide 18: Location: Tepal Project
Terronera Mine Cubo Mine LOCATION Construction ~90% Complete Annual Estimated Production: 4 2023 Prod. 461 koz Au Moz silver + 38 Koz gold San Martin Mine April 2023-April 2024 Peña Colorada Complex Prod. 9.4koz Au + 58koz Largest iron mining complex in Mexico. 12.8M TEPAL PROJECT Ag metric tonnes o
Slide 19: Concessions: Tepal Project Resource Estimate
CONCESSIONS Tepal Project Resource Estimate – January 29, 2025 Gold Copper Silver Resource Tonnage Gold Copper Silver Deposit Grade Grade Grade Three Au-Cu Category (Mt) (g/t) (ounces) (%) (M/lbs) (g/t) (M/oz) deposits: North, South & Tizate Measured & • North Zone, Totals (All) Indicated 111.67 0.2
Slide 20: Mineral Resource Estimate Highlights Include
Tepal Project | AuCu Mineral Resource Estimate Highlights Include • 111.67 million tonnes (Mt) of Measured & Indicated Mineral Resources averaging 0.26 g/t gold for 926,000 ounces of gold • 111.67 Mt Measured & Indicated Mineral Resources averaging 0.19% copper for 473.86 million pounds (Mlb) of cop
Slide 21: Current Mineral Resource Estimate (MRE)
Tepal Project | AuCu Current Mineral Resource Estimate (MRE)* Tepal Project Resource Estimate – January 29, 2025 Resource Tonnage Gold Gold Copper Copper Silver Silver Deposit Category (Mt) Grade (g/t) (ounces) Grade (%) (M/lbs) Grade (g/t) (M/oz) North, South & Tizate Measured & 111.67 0.26 926,000
Slide 22: Current Mineral Resource Estimate
Tepal Project | AuCu Current Mineral Resource Estimate Tepal Project Resource Estimate – January 29, 2025 Average Grade Content Metal Resource Weathering Tonnage Open Pit Model Cu Au Ag Cu Au Ag Category Zone Mt % g/t g/t thousand lb thousand oz thousand oz Oxide 2.71 0.31 0.45 1.03 18,818 39 90 Mea
Slide 23: Current Mineral Resource Estimate: Notes
Tepal Project | AuCu Current Mineral Resource Estimate Notes for Tepal Project Resource Estimate –Jan 29, 2024 1. The effective date of the MRE is October 30, 2024. 2. The Mineral Resource Estimate has been stated using a NSR cut-off grade. As per the economic assumption the cut-off grade is 13$ NSR
Slide 24: Tepal Zones
Tepal Project | AuCu ¢ Tepal is currently defined into three main zones: North Zone, South Zone and Tizate Tepal Zones ¢ Drilling has defined a mineral resource; however, many areas remain open and untested. North Zone South Zone Along Strike of and at depth in Re-interpreted North Zone Geologic Mod
Slide 25: Key Facts
Past exploration focused on bulk Tepal Project | AuCu porphyry-style mineralization. Current exploration focused on high-grade Au Key Facts 1 mineralization: • At depth in South Zone • Along Strike of North Zone • Regionally at Tizate target Tepal Au-Cu-Ag mineral deposits are controlled by a subduc
Slide 26: Depth Comparison
Cadia Source: Newmont (Newcrest PDAC presentation, 2020) Tepal Project | AuCu District Depth Comparison Comparisons to other similar porphyries globally shows that these types of 1,000m deposits contain clusters, some of which depth are blind. 500m Tepal North Zone Red Chris South Zone 1,000m depth
Slide 27: Underground Potential Comparison
Cross Section @GT GOLD Tepal Project | AuCu Note that the Company and its qualified person have been unable to verify the information at the GT Gold project and that the information is not necessarily Underground Potential indicative of the mineralization on the Company's property Comparison TSX.V:
Slide 28: Catalysts
Catalysts Zacatecas Project • Continued exploration drilling in and around the known mineralization on all our Zacatecas project • Historic and recent drilling and surface data will provide the necessary information to move towards the completion of a planned NI 43-101 mineral resource estimate repo
Slide 29: Contact Us
Contact Us Phone +1 (604) 343 4677 Email info@defiancesilver.com Social Media @defiancesilverc Address Suite 2900 – 550 Burrard Street Vancouver, BC, V6C 0A3 Canada www.defiancesilver.com TSX.V: DEF | OTCQX: DNCVF | WKN: A1JQW5 | FSE: D4E
Slide 30: Why Silver?
Why Silver? The global silver supply has underperformed in the past year, leading to a market deficit Silver Global Demand AI-driven demand will likely have the most significant impact on the silver market. Silver is indispensable due to its unique properties, including being the most electrically c