Defiance Silver Corp: Private Placement of Up to C$10 Million

Defiance Silver Corp ("Defiance" or the "Company") (TSX VENTURE:DEF) is pleased
to announce a non-brokered private placement (the "Offering") of up to
33,333,400 units of the Company (the "Units") at a price of $0.30 per Unit for
gross proceeds of up to $10,000,000, with a minimum of 13,333,400 units for
gross proceeds of $4,000,000. The Offering is subject to an overallotment option
whereby the Company may increase the Offering by up to 50% depending on market
demand.


Each Unit will consist of one common share of the Company, one full common share
purchase warrant ("Warrant") and one Silver Participation Right ("SPR"). Each
Warrant will entitle the holder to purchase one common share of the Company for
a period of twelve months from the closing date of the Offering at a price of
$0.65 per common share. Each Silver Participation Right will entitle the holder
to receive 0.005 ounces of silver bullion or the equivalent value in Canadian
dollars (being C$0.15 based on a C$30 per ounce silver price) from the Company's
future silver production.


Closing of the Offering is subject to receipt of all required regulatory
approvals including the approval of the TSX Venture Exchange. Securities issued
under the Offering will be subject to a four month hold period which will expire
four months from the date of closing of the Offering. The Company may pay
finder's fees in compliance with TSX Venture Exchange policies on some or all of
the Offering.


The proceeds from the Offering will be used at the discretion of the Company
for: general working capital purposes; to refurbish the Santa Gabriela
processing plant and to develop the 10 mineral property concessions or licences,
all held under option from IMPACT Silver Corp; and to develop the San Acacio
Mineral property as held under a Property Option Agreement. All development of
the above assets, located in the Vetagrande, Zacatecas area of Mexico (the
Mexican Interests), will be carried out with a view to placing the said mill
into production and deriving minerals products therefrom.


Defiance believes that the innovative Silver Participation Right will provide a
mechanism for participating investors to gain direct access to physical silver
bullion and direct exposure to future upside in the price of silver.


About Defiance Silver:

Defiance Silver Corp. is a near term silver producer engaged in the acquisition,
exploration, and development of advanced silver projects in Zacatecas Mexico.
The Company's efforts are focused on: 1) the purchase and refurbishment of the
200 tpd Santa Gabriela Mill, 2) the exercising of an option to purchase the San
Acacio Mine, and 3) the definition of feed for the Santa Gabriela Mill from
surface dumps and the San Acacio Mine with its historical resource (reference
Defiance Silver Corp New release dated November 1, 2011).


On behalf of the Directors

W.D. Bruce Winfield, President and CEO

For additional information please visit the Company's website at
www.defiancesilver.com.


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. Specifically, there is no assurance Defiance will be able to
raise the minimum or maximum private placement on the terms and conditions
referred to above. Defiance does not assume the obligation to update any
forward-looking statement.

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