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Defense Metals Corp. develops the Wicheeda Rare Earth Project, a 100%-owned rare earth elements project located near Prince George, British Columbia. Company news commonly covers drilling, resource and reserve work, metallurgical testing, environmental baseline studies, feasibility-study preparation, permitting coordination, and infrastructure planning tied to Wicheeda.
Recurring updates also address the project's role in critical minerals supply chains for defense, high-technology, clean energy, and permanent magnet applications. News may include government and industry engagement, rare earth market commentary, project-management appointments, and trading-related developments for the company's TSX Venture, OTCQB, and Frankfurt-listed shares.
Defense Metals (OTCQB: DFMTF) has started a confirmatory pilot flotation plant program for its wholly owned Wicheeda Rare Earth Project at SGS Lakefield in Ontario. The five-week campaign uses about 30 tonnes of drill core to produce a representative concentrate targeting ~50% TREO, supply material for hydrometallurgical pilot work, generate tailings for testing, and deliver engineering data for future project development. Defense Metals also engaged Jenike & Johanson for bulk solids handling tests and appointed Michelle Tanguay as Vice President of Environment and Social Performance.
Defense Metals (OTCQB: DFMTF) began its spring 2026 core drill program at the Wicheeda rare earths project, mobilizing crews May 1, 2026. The ~two-month campaign totals approximately 6,865 metres, including 2,800 m of resource upgrade/infill drilling (~20 holes).
Work supports the planned Feasibility Study and includes geotechnical and geochemical holes to inform pit design, waste rock management, and environmental datasets.
Defense Metals (OTCQB: DFMTF) was added to the newly launched Sprott Rare Earths Ex-China ETF (REXC) on April 16, 2026. The ETF targets global rare earth mining, separation, refining and production companies while excluding China. Inclusion may boost institutional interest and liquidity for the Wicheeda REE Project in British Columbia.
Defense Metals (OTCQB: DFMTF) received conditional approval for up to C$1,878,250 from the Critical Minerals Infrastructure Fund (transitioning to the First and Last Mile Fund) to advance planning for the Wicheeda REE Clean Energy and Transportation Infrastructure Project.
The funding will support engineering and planning for a new 60-km transmission line/b) to deliver up to from the BC Hydro grid, upgrades to a 43-km forest service road, Indigenous engagement, BC Hydro interconnection and rail integration studies. Work is scheduled 2026–2028 and remains subject to final due diligence.
Defense Metals (OTCQB: DFMTF) updated progress on the 100%‑owned Wicheeda rare earth project near Prince George, BC, highlighting PFS economics, stronger NdPr pricing, accelerated field work, pilot‑scale metallurgical testing, and advancing environmental, Indigenous and permitting programs to support a move toward a Feasibility Study.
PFS metrics include pre‑tax NPV (8%) ~CAD $1.8B, post‑tax NPV (8%) ~CAD $1.0B, pre‑tax IRR ~24.6%, post‑tax IRR ~18.9% and after‑tax payback ~3.7 years; operating cost CAD $38.42/kg NdPr.
Defense Metals (OTCQB: DFMTF) participated in a Canadian government-led European trade mission (Feb 2026) visiting Rome, Munich and Paris to promote the Wicheeda Rare Earth Project and pursue critical-mineral partnerships with European governments and industry.
The company was one of two rare-earth-focused firms on the 17-company delegation, holding B2B meetings and pitch sessions to boost international visibility and prospective supply agreements.
Defense Metals (OTCQB: DFMTF) announced on February 23, 2026 that its Wicheeda Rare Earth Project was selected by the British Columbia Critical Minerals Office as one of three advanced projects for early coordination support.
The CMO will assist with regulatory alignment, environmental assessment preparation and permitting coordination while the company advances technical studies and First Nations engagement.
Defense Metals (OTCQB: DFMTF) appointed SGS Canada to run a 30-tonne pilot-scale flotation program on two drill-core composite samples from the Wicheeda rare earth deposit. The program is expected to cost ~CAD$1 million, produce about 1.5 tonnes of flotation concentrate, and support feasibility-stage engineering.
The work aims to de-risk and optimise the metallurgical flowsheet and generate feed for a planned hydrometallurgical pilot later in the year; further updates will follow.
Defense Metals (OTCQB: DFMTF) announced the appointment of Robin Jones as Vice President, Projects effective Jan 21, 2026. Mr. Jones is a professional mechanical engineer with 30+ years of international experience in feasibility studies, detailed engineering, construction, commissioning and operational readiness across commodities including rare earth elements (REE), uranium, copper, nickel and platinum group metals.
He previously led definitive feasibility studies and a heavy REE pilot plant delivery at Northern Minerals and will support advancing the Wicheeda Project through next-stage engineering and development.
Defense Metals (OTCQB: DFMTF) reported 2025 milestones for the Wicheeda Rare Earth Project near Prince George, BC, including completion of a Pre-Feasibility Study (PFS) and preparatory work toward a Definitive Feasibility Study (DFS) targeted to begin in early 2026. The company closed multiple private placements, including an oversubscribed C$16.2 million financing, and noted meaningful insider participation with the Executive Chairman increasing ownership via open-market purchases. Engagement with Indigenous partners continued, and the company received a Letter of Interest from Export Development Canada for potential financing of up to US$250 million, subject to customary conditions.