Wills is now the only Briton left in the men's archery competition
Great Britain's Alan Wills booked his place in the last 16 of the men's individual archery event with victory over defending champion Marco Galiazzo.
The 27-year-old from Cumbria claimed a 110-109 win and will now take on Cuba's Juan Carlos Stevens on Friday for a place in the quarter-finals.
Simon Terry was 81-77 ahead going into the final end of his first round match with Matti Hatava but lost out 104-105.
Laurence Godfrey was also knocked out, beaten 114-109 by Bair Badenov.
Wills, who defeated Mauro Nespoli in the first round, dethroned the 2004 Olympic champion with a perfect score with his final shot.
"Shooting against an archer with a high ranking doesn't intimidate me," said Wills. "I think you raise your game more to meet theirs.
"I felt some pressure in the first match but by the second I had regained my composure and on that last arrow - there was only one place it was going to go.
"I'm looking forward to Friday and doing my best not just for myself but for the other boys and for the whole team."
Terry, who won Olympic bronze at the Barcelona Games in 1992, crashed out after landing a seven with his final shot when he required a nine to win.
"I'm disappointed. I couldn't get the flow of it. I'm disappointed with that last shot," said the seventh seed.
"Was it worth coming back? Very much so. I have enjoyed what I'm doing - and I'll keep doing it."