Defiance Silver Signs Long-Term Access Agreement at Its Green Earth Project, Sonora

Rhea-AI Summary

Defiance Silver (OTC: DNCVF) secured a five-year surface access agreement for the Victoria target at its Green Earth Project in Sonora, Mexico, enabling surface exploration, drilling, and engineering studies.

The Green Earth Project covers ~6,800 hectares, lies in the Sonora Laramide Porphyry Copper Belt, and features strong alteration, anomalous copper-moly-gold geochemistry, and coincident MT/IP geophysical anomalies.

The company also granted 2,720,000 options at $0.35 and a total of 1,061,000 share‑based units (DSUs, PSUs, RSUs) to directors, employees, and consultants.

Positive

• Secured 5-year surface access to Victoria enabling drilling and engineering studies
• 6,800-hectare Green Earth Project in Sonora with strong infrastructure and access
• Victoria shows coincident MT and IP geophysical anomalies supporting exploration targeting

Negative

• 2,720,000 options granted at $0.35 create potential share dilution upon exercise
• An additional 1,061,000 DSUs/PSUs/RSUs granted increases outstanding share‑based compensation pool

Vancouver, British Columbia--(Newsfile Corp. - February 12, 2026) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) ("Defiance" or the "Company")  is pleased to announce that it has successfully secured a long-term surface access agreement (the "Agreement") covering the Victoria target at its Green Earth Project in Sonora, Mexico.‍ Under the terms of the five-year agreement, the Company has secured the right to conduct surface exploration, drilling, and engineering studies at its Green Earth Project.

Management Commentary

"Securing surface access at Victoria is an important step in unlocking the value of the Green Earth Project. This agreement allows us to advance Victoria in a disciplined, capital-efficient manner."

— Chris Wright, Executive Chairman & CEO, Defiance Silver

 

Victoria Target Highlights
The Victoria target represents a large, previously untested Laramide-age porphyry copper-molybdenum-gold system located within the highly prospective Sonora Laramide Porphyry Copper Belt, which hosts world-class deposits such as Cananea and La Caridad. The Green Earth Project spans approximately 6,800 hectares and benefits from excellent infrastructure, year-round access, and proximity to skilled labor and services.

Figure 1. Regional Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2950/283646_250881b4c4a31b9d_001full.jpg

Key attributes include:

• A large alteration footprint defined by phyllic and potassic alteration assemblages
• Leached capping with anomalous copper, molybdenum, and gold geochemistry
• Intermediate-sulphidation epithermal veins indicative of a robust mineralized system
• Strong geophysical responses, including coincident MT and IP chargeability / resistivity anomalies

GRANT OF OMNIBUS AWARDS
Defiance has granted the following:
Stock Options - an aggregate of 2,720,000 incentive stock options ("Options") have been granted to certain employees, directors, and consultants to purchase common shares of the Company (each, a "Common Share") at an exercise price $0.35. The Options are exercisable for five years from the date of grant and vest equally over a three-year period beginning on the date of grant.

Deferred Share Units - an aggregate of 289,000 Deferred Share Units ("DSUs") have been granted to certain directors. Each DSU represents a right of the holder to receive one Common Share effective as at the date the holder ceases to serve as a director of the Company. The DSUs vest on the one-year anniversary of the date of grant.

Performance Share Units - an aggregate of 458,000 Performance Share Units ("PSUs") have been granted to certain employees. Each PSU entitles the holder to acquire one Common Share on the vesting date. The PSUs vest on the one-year anniversary of the date of grant, subject to certain corporate and individual performance criteria.

Restricted Share Units - an aggregate of 314,000 Restricted Share Units ("RSUs") have been granted, to certain employees. Each RSU entitles the holder to acquire one Common Share on vesting. The RSUs vest equally over a three-year period beginning on the one-year anniversary of the date of grant.

ABOUT DEFIANCE SILVER CORP.

Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) (FSE: D4E) is an exploration company focused on advancing district-scale precious and base metal projects in Mexico. The Company's portfolio includes:

• The Zacatecas Project in the historic Zacatecas Silver District
• The 100%-owned Tepal Gold-Copper Project in Michoacán
• The Green Earth Metals property portfolio in Sonora State

Defiance is led by a proven management and technical team with experience advancing exploration assets through discovery and development. The Company is committed to capital-efficient exploration, disciplined growth, and responsible development.

For more Information
Defiance Silver Corp.
Suite 2900-550 Burrard Street
Vancouver, BC V6C 0A3, Canada

Investor Relations: +1 (604) 343-4677
Email: info@defiancesilver.com
Website: www.defiancesilver.com

Qualified Person
Mr. George Cavey, P. Geo, is a Qualified Person within the meaning of National Instrument 43-101 and has approved the technical information concerning the Company's material mineral properties contained in this press release.

Disclaimer
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.

Caution Regarding Forward-Looking Information
Information contained in this news release which are not statements of historical facts may be "forward-looking information" for the purposes of Canadian securities laws. Such forward-looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward looking information. The words "believe", "expect", "anticipate", "contemplate", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule", "understand" and similar expressions identify forward-looking information. These forward-looking statements relate to, among other things: the Company's expectations regarding the ability of the Mining Bureau of Mexico City to reinstate ownership of the concessions to the Company, cooperation with the Mining Bureau relating to such reinstatement and the potential for any successful solution resulting therefrom.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Defiance, are inherently subject to significant technical, political, business, economic and competitive uncertainties, and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information. Factors and assumptions that could cause actual results or events to differ materially from current expectations include, among other things: the inability of the Company to regain possession of its concessions; political risks associated with the Company's operations in Mexico; the failure of the Mining Bureau in Mexico City to take any coercive action to reinstate ownership of the concessions to the Company; and the inability of the Company and its subsidiaries to enforce their legal rights in certain circumstances. For additional risk factors, please see the Company's most recently filed Management Discussions & Analysis for its quarter ended February 29, 2024, available on SEDAR+ at www.sedarplus.ca.

There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results, performance, or achievements to vary or differ materially from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained herein or incorporated by reference. Accordingly, all such factors should be considered carefully when making decisions with respect to Defiance, and prospective investors should not place undue reliance on forward looking information. Forward-looking information in this news release is made as at the date hereof. The Company assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283646

FAQ

What does the five-year surface access agreement mean for Defiance Silver (DNCVF)?

It grants Defiance the right to conduct surface exploration, drilling, and engineering for five years. According to the company, this access permits systematic advancement of the Victoria target with on-site drilling and study programs planned.

How large is the Green Earth Project area for Defiance Silver (DNCVF)?

The Green Earth Project spans about 6,800 hectares in Sonora, Mexico. According to the company, the project benefits from year-round access, local services, and proximity to skilled labor and infrastructure.

What key geological indicators support exploration at Victoria for Defiance Silver (DNCVF)?

Victoria shows phyllic and potassic alteration, leached capping, anomalous Cu-Mo-Au geochemistry, and MT/IP anomalies. According to the company, these indicators are consistent with a large Laramide-age porphyry system.

What share-based awards did Defiance Silver (DNCVF) grant on February 12, 2026?

Defiance granted 2,720,000 incentive stock options at $0.35 and 1,061,000 DSUs/PSUs/RSUs. According to the company, options vest over three years and are exercisable for five years.

Do the granted options and units materially affect Defiance Silver (DNCVF) shareholders?

The grants increase the company's outstanding share‑based compensation and could dilute shareholders if exercised. According to the company, the awards include options, DSUs, PSUs, and RSUs with standard vesting terms.

Where is the Victoria target located within regional geology for Defiance Silver (DNCVF)?

Victoria is in the Sonora Laramide Porphyry Copper Belt near known deposits like Cananea and La Caridad. According to the company, its location situates it within a proven porphyry copper province for exploration.