Defiance Silver Corp. — Proxy Solicitation & Information Statement 2025

Nov 4, 2025

DEFIANCE SILVER CORP

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS DECEMBER 5, 2025

TAKE NOTICE that an Annual and Special Meeting of Shareholders (the “Meeting”) of Defiance Silver Corp. (the “Company”) will be held by means of remote communication, rather than in person:

Date: December 5, 2025

Time: 10:00 a.m. (Pacific Time) The purposes of the Meeting are:

1. To receive and consider the financial statements of the Company for the fiscal year ended June 30, 2025 and the auditor’s report thereon;
2. To fix the number of directors for the ensuing year at five (5), subject to such increases as may be permitted by the Notice of Articles and Articles of the Company;
3. To elect the directors of the Company;
4. To appoint the auditor and authorize the directors to fix its remuneration;
5. To consider, and if deemed advisable to adopt, a resolution annexed as Schedule “C” to the Information Circular, ratifying and confirming the Corporation’s 2021 Omnibus Plan;
6. To transact such other business as may properly be brought before the Meeting.

The Company is conducting a virtual meeting of the shareholders of the Company. Shareholders will not be able to attend the Meeting in person. Instead, Registered Shareholders (as defined in the accompanying Circular under the heading "Appointment and Revocation of Proxies") and duly appointed proxyholders can virtually attend, participate, vote or submit questions at the virtual Meeting online by registering before December 2, 2025 at the following link:

https://qrco.de/bgHKr8

After registering by completing the online survey, you will receive a confirmation email with access instructions.

To ensure a smooth process, the Company is asking registered participants to log in by 9:45 a.m. (Pacific Time) on December 5, 2025.

Just as they would be at an in-person meeting, Registered Shareholders and duly appointed proxyholders will be able to attend the virtual Meeting, participate, submit questions online and vote virtually, all in real time, provided they are connected to the internet and comply with all of the requirements set out in the accompanying Circular. Registered Shareholders who are unable to attend the virtual Meeting are requested to complete, sign and date the accompanying form of proxy in accordance with the instructions provided therein and in the Circular and return it in accordance with the instructions and timelines set forth in the Circular. Non-registered (or beneficial) shareholders who have not duly appointed themselves as proxyholder will be able to attend the virtual Meeting as "guests", but will not be able to participate, submit questions or vote at the virtual Meeting.

---

2

If you are unable to attend the Meeting virtually, please date, complete and sign the enclosed form of proxy and deliver it to TSX Trust Corporation either by mail, by facsimile, or over the internet. Proxies must be received by TSX Trust Company, the Company’s transfer agent and registrar (the “Transfer Agent”), if by mail at Suite 301 - 100 Adelaide Street West, Toronto, Ontario, M5H 4H1, or (ii) by facsimile to 416-595-9593. A shareholder may also vote using the Internet at www.voteproxyonline.com. In order to be valid and acted upon at the Meeting, the form of proxy must be received no later than 10:00 a.m. (Pacific Time) on December 3, 2025.

DATED at Vancouver, British Columbia October 22, 2025.

BY ORDER OF THE BOARD OF DIRECTORS

(signed) Christopher Wright
Christopher Wright
President and Chief Executive Officer