Defiance Silver Appoints Armando Vazquez, M.Sc., C.P.G., as Vice President, Operations
Rhea-AI Summary
Defiance Silver has appointed Armando Vazquez as Vice President, Operations, effective May 1, 2025. Vazquez, who holds an M.Sc. in Exploration Geology and is a Certified Professional Geologist (C.P.G.), brings over 14 years of exploration expertise to the role.
Currently serving as Senior Consultant at OreQuest Consultants, Vazquez has been supporting Defiance Silver's strategic development since 2020. His experience spans various deposit types, including epithermal, porphyry, and orogenic gold systems across Mexico, the UK, and Finland.
The company also reported issuing 33,448 Common Shares at $0.244 per share, totaling $7,980, as part of an administrative services agreement. These shares are subject to a four-month hold period and comply with TSX Venture Exchange policies.
Positive
- Appointment of experienced VP Operations with 14+ years in exploration geology
- New VP has prior involvement with company since 2020, ensuring continuity
- VP is qualified under NI 43-101 standards, adding credibility to future reports
- VP brings expertise in multiple deposit types across key mining jurisdictions
Negative
- Ongoing share issuance for services causing dilution (33,448 new shares)
- Related party transaction with insiders raises governance concerns
- Company continues to accrue debt for services ($7,980 converted to shares)
News Market Reaction
On the day this news was published, DNCVF declined 1.24%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - May 1, 2025) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) ("Defiance" or the "Company") is pleased to announce the appointment of Mr. Armando Vazquez, M.Sc., C.P.G., as Vice President, Operations, effective May 1, 2025.
Mr. Vazquez continues to serve as Senior Consultant at OreQuest Consultants Ltd., where he has been supporting with strategic development and drill targeting for Defiance Silver since 2020, contributing to expanding our resource base and achieving our long-term vision. Mr. Vazquez is a Qualified Person under Canadian National Instrument 43-101 and a highly regarded exploration geologist with over 14 years of experience designing and managing grassroots and brownfield exploration programs.
Prior to joining Defiance, Mr. Vazquez led the design and execution of exploration programs to the highest industry standards, including compliance with QA/QC protocols under NI 43-101 and stringent Health and Safety frameworks. His expertise spans a broad range of deposit types—including epithermal, porphyry, orogenic gold, and intrusion-related systems—across key mining jurisdictions such as Mexico, the United Kingdom, and Finland.
Mr. Vazquez holds a Master of Science in Exploration Geology from the Camborne School of Mines (University of Exeter, UK), where he was awarded the prestigious Chevening Scholarship for academic excellence. He also earned a Bachelor of Engineering in Geological Engineering from the National Autonomous University of Mexico (UNAM).
Chris Wright, Chairman & CEO, commented:
"We are very pleased to welcome Mr. Vazquez to the leadership team at Defiance. His deep technical knowledge, commitment to responsible exploration, and proven ability to manage complex exploration programs will play a critical role in advancing our portfolio and driving long-term value for our shareholders. In his new role, Mr. Vazquez will oversee operational execution across Defiance's projects, including technical planning, exploration strategy, and program delivery."
SHARES FOR SERVICES
The Company previously entered into a non-arm's length administrative services agreement dated May 1, 2023 (the "Agreement"), for services provided by an officer of the Company. As part of the consideration payable by the Company under the Agreement, the Company has agreed to issue that number of Common Shares equal to
The deemed value of the Service Shares to be issued for a particular month, is to be the closing price of the Company's shares on the last trading day of the month.
For services rendered under the Agreement between the period of July 1, 2024 to December 31, 2024, the Company has issued 33,448 Common Shares at a weighted average price of
The Service Shares issued are subject to a four month hold period, which will expire on a date that is four months and one day from the date of issuance.
No new insiders will be created, nor will any change of control occur, as a result of the issuance of the Service Shares.
As certain insiders are party to the Agreement, it may be considered a "related party transaction" under Multilateral Instrument 61-101 Protection of Minority Security Holders In Special Transactions ("MI 61-101") and the TSXV. The Company is relying on the exemptions from the formal valuation and the minority shareholder approval requirements of MI-61-101 contained in section 5.5 (a) and Section 5.7 (1)(a) as the fair market value of the common shares being issued to insiders in connection with the Service Shares does not exceed
About Defiance Silver Corp.
Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) (FSE: D4E) is an exploration company advancing the district-scale Zacatecas project, located in the historic Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacán state, Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring, advancing, and developing several operating mines and advanced resource projects. Defiance's corporate mandate is to advance our projects through capital-efficient exploration focused on resource growth and new mineral discoveries.
On behalf of Defiance Silver Corp.
"Chris Wright"
CEO and Chairman of the Board
For more information, please contact: Investor Relations at +1 (604) 343-4677 or via email at info@defiancesilver.com.
www.defiancesilver.com
Suite 2900-550 Burrard Street
Vancouver, BC V6C 0A3
Canada
Disclaimer
Neither the 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250410
FAQ
Who is Armando Vazquez and what is his new role at Defiance Silver (DNCVF) as of May 2025?
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