Defiance Silver Corp.
TSX VENTURE : DEF

Defiance Silver Corp.

May 23, 2012 16:35 ET

Defiance Silver Corp. Terminates Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 23, 2012) - Defiance Silver Corp (TSX VENTURE: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

Forward-Looking Statements. This Defiance News Release may contain certain "forward-looking" statements and information relating to Defiance that are based on the beliefs of Defiance management, as well as assumptions made by and information currently available to Defiance management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. Defiance does not assume the obligation to update any forward-looking statement.

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.

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