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Defense Metals and The Saskatchewan Research Council Enter into a MOU to Enhance the Domestic Rare Earth Element Supply Chain

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Defense Metals Corp. (TSXV: DEFN) (OTCQB: DFMTF) has signed a Memorandum of Understanding (MOU) with The Saskatchewan Research Council (SRC) to strengthen the rare earth element (REE) supply chain in Canada. The collaboration aims to leverage both parties' capabilities in the supply and processing of rare earth materials, important for rare earth magnets.

The MOU outlines three main objectives:

  • Exploring collaborations in rare earth product processing and supply
  • Discussing the separation of Defense Metals' mixed rare earth carbonates using SRC's technology
  • Facilitating negotiations for a long-term agreement on the sale and purchase of Defense Metals' mixed rare earth carbonate

This partnership aligns with the Canadian Critical Minerals Strategy, focusing on developing a domestic industry, reducing foreign dependence, and enhancing national security in the REE sector.

Defense Metals Corp. (TSXV: DEFN) (OTCQB: DFMTF) ha firmato un Memorandum of Understanding (MOU) con il Saskatchewan Research Council (SRC) per rafforzare la catena di approvvigionamento degli elementi delle terre rare (REE) in Canada. La collaborazione mira a sfruttare le capacità di entrambe le parti nella fornitura e lavorazione dei materiali delle terre rare, importanti per i magneti delle terre rare.

Il MOU delinea tre obiettivi principali:

  • Esplorare collaborazioni nella lavorazione e fornitura di prodotti delle terre rare
  • Discutere la separazione dei carbonati misti di terre rare di Defense Metals utilizzando la tecnologia dello SRC
  • Facilitare i negoziati per un accordo a lungo termine sulla vendita e acquisto del carbonato misto di terre rare di Defense Metals

Questa partnership è in linea con la Strategia Canadese dei Minerali Critici, focalizzandosi sullo sviluppo di un'industria domestica, riducendo la dipendenza dall'estero e migliorando la sicurezza nazionale nel settore REE.

Defense Metals Corp. (TSXV: DEFN) (OTCQB: DFMTF) ha firmado un Memorando de Entendimiento (MOU) con el Consejo de Investigación de Saskatchewan (SRC) para fortalecer la cadena de suministro de elementos de tierras raras (REE) en Canadá. La colaboración tiene como objetivo aprovechar las capacidades de ambas partes en el suministro y procesamiento de materiales de tierras raras, importantes para los imanes de tierras raras.

El MOU establece tres objetivos principales:

  • Explorar colaboraciones en el procesamiento y suministro de productos de tierras raras
  • Discutir la separación de los carbonatos mixtos de tierras raras de Defense Metals utilizando la tecnología del SRC
  • Facilitar negociaciones para un acuerdo a largo plazo sobre la venta y compra de los carbonatos mixtos de tierras raras de Defense Metals

Esta asociación se alinea con la Estrategia Canadiense de Minerales Críticos, centrada en desarrollar una industria nacional, reducir la dependencia extranjera y mejorar la seguridad nacional en el sector de REE.

Defense Metals Corp. (TSXV: DEFN) (OTCQB: DFMTF)는 캐나다의 희토류 공급망 (REE) 강화를 위해 Saskatchewan Research Council (SRC)와 양해각서 (MOU)를 체결했습니다. 이번 협력은 희토류 자재의 제공 및 가공에서 양측의 역량을 활용하는 것을 목표로 합니다. 이는 희토류 자석에 중요합니다.

MOU는 세 가지 주요 목표를 요약합니다:

  • 희토류 제품 가공 및 공급에 대한 협력 탐색
  • SRC의 기술을 이용하여 Defense Metals의 혼합 희토류 탄산염 분리 논의
  • Defense Metals의 혼합 희토류 탄산염의 판매 및 구매에 관한 장기 계약 협상 촉진

이 파트너십은 캐나다의 중요 광물 전략에 부합하며, 국내 산업 발전, 외국 의존도 감소 및 REE 부문에서의 국가 안보 강화를 초점을 맞추고 있습니다.

Defense Metals Corp. (TSXV: DEFN) (OTCQB: DFMTF) a signé un Mémorandum d'Entente (MOU) avec le Saskatchewan Research Council (SRC) pour renforcer la chaîne d'approvisionnement des éléments des terres rares (REE) au Canada. La collaboration vise à tirer parti des capacités des deux parties dans la fourniture et le traitement des matériaux des terres rares, essentiels pour les aimants en terres rares.

Le MOU décrit trois objectifs principaux :

  • Explorer les collaborations dans le traitement et l'approvisionnement de produits en terres rares
  • Discuter de la séparation des carbonates mixtes de terres rares de Defense Metals en utilisant la technologie du SRC
  • Faciliter les négociations pour un accord à long terme sur la vente et l'achat des carbonates mixtes de terres rares de Defense Metals

Ce partenariat s'inscrit dans le cadre de la Stratégie Canadienne sur les Minéraux Critiques, qui se concentre sur le développement d'une industrie domestique, la réduction de la dépendance étrangère et le renforcement de la sécurité nationale dans le secteur des REE.

Defense Metals Corp. (TSXV: DEFN) (OTCQB: DFMTF) hat ein Memorandum of Understanding (MOU) mit dem Saskatchewan Research Council (SRC) unterzeichnet, um die Wirtschaftskette für seltene Erden (REE) in Kanada zu stärken. Die Zusammenarbeit zielt darauf ab, die Fähigkeiten beider Parteien in der Lieferung und Verarbeitung seltener Erden, die für seltene Erdmagneten wichtig sind, zu nutzen.

Das MOU definiert drei Hauptziele:

  • Zusammenarbeit bei der Verarbeitung und Lieferung von Produkten seltener Erden zu erkunden
  • Die Trennung von Defense Metals' gemischten Seltenen Erden-Karbonaten unter Verwendung der SRC-Technologie zu diskutieren
  • Verhandlungen über einen langfristigen Vertrag zum Verkauf und Kauf von Defense Metals' gemischten Seltenen Erden-Karbonaten zu erleichtern

Diese Partnerschaft steht im Einklang mit der kanadischen Strategie für kritische Mineralien, die sich auf die Entwicklung einer inländischen Industrie, die Reduzierung der Abhängigkeit von ausländischen Quellen und die Verbesserung der nationalen Sicherheit im REE-Sektor konzentriert.

Positive
  • Potential collaboration with a recognized leader in rare earth processing (SRC)
  • Alignment with Canadian Critical Minerals Strategy, potentially increasing government support
  • Possibility of long-term agreement for sale of Defense Metals' mixed rare earth carbonate
  • Potential to strengthen domestic REE supply chain, reducing reliance on foreign sources
Negative
  • None.

VANCOUVER, BC, Sept. 26, 2024 /PRNewswire/ - Defense Metals Corp. ("Defense Metals" or the "Company"; (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce the signing of a Memorandum of Understanding ("MOU") with The Saskatchewan Research Council ("SRC") that will benefit both parties by promoting a collaborative and strategic approach to help strengthen the rare earth element ("REE") supply chain within Canada.

Guy de Selliers, Executive Chairman of Defense Metals, commented:

"We are excited to collaborate with The Saskatchewan Research Council, a recognized leader in rare earth processing and technology development. This MOU represents a significant step forward in our goal of becoming part of a secure and sustainable supply chain for rare earth elements in North America. By working together with SRC, we believe we can make substantial progress toward closing the rare earth supply chain loop and ensuring the availability of these critical materials for green energy and defence applications that are essential for national security."

The MOU outlines a framework for Defense Metals and SRC to leverage their respective capabilities and interests in the supply and processing of rare earth materials that are especially critical to the production of rare earth magnets. The proposed objectives of this collaboration include:

  • Exploring potential collaborations using each Participant's respective capabilities and interests in the process and supply of rare earth products used in the rare earths magnet value chain;

  • Enabling discussions in connection with the separation of the Defense Metal's mixed rare earth carbonates into separated rare earth oxides employing SRC's separation technology design, installation, and operational expertise; and

  • Facilitating negotiations of a long-term agreement with SRC for the sale and purchase of Defense Metal's mixed rare earth carbonate. 

This collaboration aligns with the broader Canadian Critical Minerals Strategy, which is focused on developing a domestic industry, reducing reliance on foreign sources of critical minerals and bolstering national security. Furthermore, it supports broader North American goals for economic competitiveness and technological innovation in clean energy and defence technologies.

About The Saskatchewan Research Council

SRC is Canada's second-largest research and technology organization, providing services and products to its 1,400 clients in 22 countries around the world for more than 77 years

Since 2020, SRC's Rare Earth Processing Facility in Saskatoon has received $71 million in funding from the Government of Saskatchewan, as well as $30 million in combined funding from the Government of Canada. This funding has been instrumental in helping SRC construct a vertically and laterally integrated "minerals to metals" facility equipped with state-of-the-art, proprietary technology developed by SRC. Development of the facility continues ahead of schedule, producing rare earth metals at a commercial scale in the summer of 2024 – making Saskatchewan the first and only jurisdiction to do so in North America.

About Defense Metals Corp. and its Wicheeda Rare Earth Element Deposit

Defense Metals Corp. is focused on the development of its 100% owned Wicheeda REE deposit, for which a mineral resource estimate was reported in 2023 in a Technical Report prepared in accordance with the Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), which is available for review on the Company's profile on SEDAR+ at www.sedarplus.ca and the Company's website at www.defensemetals.com.

The 8,301-hectare (~20,534-acre) Wicheeda Project, located approximately 80 kilometres (~50 miles) northeast of the city of Prince George on the traditional territory of the McLeod Lake Indian Band in British Columbia, Canada, is readily accessible by a paved highway and all-weather gravel roads. Nearby, superior infrastructure includes hydro power transmission lines, gas pipelines, the Canadian National Railway and major highways that allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia.

Defense Metals is a proud member of Discovery Group. For more information please visit: www.discoverygroup.ca

For further information, please visit www.defensemetals.com or contact:

Alex Heath
Senior Vice President, Corporate Development & Interim CFO
Tel: +1 604-354-2491
Email: alex@defensemetals.com

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 news release.

Notice Regarding the Wicheeda REE Deposit Mineral Resource Estimate

The mineral resource estimate for the Wicheeda rare earth element (REE) deposit is disclosed in a Technical Report dated October 27, 2023, effective August 28, 2023, entitled "Technical Report on the Wicheeda Property, British Columbia, Canada", which was prepared by APEX Geoscience Ltd. The results of the 2023 MRE were previously disclosed in summary form in the Company's news release dated September 12, 2023. The Technical Report was prepared in accordance with the Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and is available for review on the Company's profile on SEDAR+ at www.sedarplus.ca and the Company's website at www.defensemetals.com. Readers are encouraged to read the Technical Report in its entirety, including all qualifications, assumptions, and exclusions.

Cautionary Statement Regarding "Forward-Looking" Information

This news release contains "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration and metallurgical results, risks related to the inherent uncertainty of exploration and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR+ (www.sedarplus.ca/). While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain or obtain community acceptance (including First Nations), risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological, metallurgical, engineering and pricing assumptions, decrease in the price of rare earth elements, the impact of viruses and diseases on the Company's ability to operate, restriction on labour and international travel and supply chains, loss of key employees, consultants, officers or directors, increase in costs, delayed results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/defense-metals-and-the-saskatchewan-research-council-enter-into-a-mou-to-enhance-the-domestic-rare-earth-element-supply-chain-302260621.html

SOURCE Defense Metals Corp.

FAQ

What is the purpose of the MOU between Defense Metals (DFMTF) and The Saskatchewan Research Council?

The MOU aims to strengthen the rare earth element (REE) supply chain in Canada by promoting collaboration in REE processing and supply, exploring the separation of mixed rare earth carbonates, and facilitating negotiations for long-term agreements.

How does the Defense Metals (DFMTF) and SRC collaboration align with Canadian national interests?

The collaboration aligns with the Canadian Critical Minerals Strategy by developing a domestic REE industry, reducing reliance on foreign sources, and bolstering national security in the critical minerals sector.

What are the potential benefits for Defense Metals (DFMTF) from this MOU with SRC?

The MOU could lead to Defense Metals leveraging SRC's expertise in rare earth processing, potentially securing a long-term agreement for their mixed rare earth carbonate, and becoming part of a secure and sustainable North American REE supply chain.

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