DEFENSE METALS CORP - DFMTF STOCK NEWS

Defense Metals Corp. announced promising flotation results from its Wicheeda Rare Earths Project in British Columbia. Initial tests indicate the project can produce high-grade rare earth mineral concentrates, exceeding 40% total rare earths oxides (TREO) with over 80% recovery rates. The results confirm the project's viability as outlined in the Preliminary Economic Assessment (PEA), which projected a net present value of $517 million and an 18% internal rate of return. The pre-feasibility study is expected to begin soon, reinforcing potential for future production.

Defense Metals Corp. announced high-grade Rare Earth Element (REE) assay results from the Wicheeda REE Deposit. The infill drill hole WI22-67 reported an average of 2.53% total rare earth oxide (TREO) over 106 meters, with a high-grade zone of 3.42% TREO over 59 meters. These results continue to demonstrate mineralization continuity, crucial for upgrading resource categories and supporting a future Preliminary Feasibility Study (PFS). Additional results are anticipated shortly. The Company will participate in the 18th International Rare Earths Conference from October 17-19, 2022.

Defense Metals Corp. announced promising high-grade Rare Earth Element (REE) assay results from two recent drill holes at the Wicheeda REE Deposit. Drill hole WI22-68 reached 395 meters, yielding an average of 3.58% total rare earth oxide (TREO) over 124 meters, with a peak of 6.70% TREO over 18 meters. The second hole, WI22-63, returned 2.29% TREO over 39 meters. These findings reinforce the project’s potential, which has a previous economic assessment showing an after-tax NPV of $517 million and a projected annual production of 25,423 tonnes REO.

Defense Metals Corp. announced positive initial drilling results from its Wicheeda Rare Earth Element (REE) deposit, with two completed holes yielding significant mineralization. Drilling hole WI22-64 reported an average of 1.78% total rare earth oxide (TREO) over 192 meters, including 3.13% TREO over 73 meters. The second hole, WI22-62, returned 1.39% TREO over 167 meters, highlighting the continuity of mineralization. With the drilling campaign 96% complete, results from additional holes are expected soon, supporting ongoing resource upgrades and potential Preliminary Feasibility Studies.

Defense Metals Corp. has entered into a Mineral Exploration Agreement with the McLeod Lake Indian Band for its Wicheeda Rare Earth Element project, located northeast of Prince George, Canada. This agreement facilitates communication and cooperation between the parties regarding exploration activities, providing economic opportunities for the local community. CEO Craig Taylor expressed excitement about the partnership, emphasizing its potential for long-term benefits. Chief Harley Chingee noted the importance of working with companies that respect indigenous rights while creating economic opportunities.

Defense Metals announced the completion of its 2022 diamond drilling campaign at the Wicheeda Rare Earth Element (REE) deposit, with over 3,500 meters drilled across 12 holes. Geotechnical drilling for open pit slope design is now in progress, with five additional holes planned. Initial assay results are expected in September or October 2022. The Wicheeda REE Project has a strong preliminary economic assessment, indicating a net present value of $517 million and an internal rate of return of 18%. A management site visit is scheduled for the week of August 15, 2022.

On June 17, 2022, Defense Metals Corp. (OTCQB: DFMTF) announced progress in its diamond drilling campaign at the Wicheeda Rare Earth Element (REE) deposit. The initial two drill holes, totaling 615 meters, aim to establish surface contacts and infill resources, intersecting visually significant REE mineralization. The company plans to complete up to 5,000 meters of drilling to delineate resources and optimize design.

The Wicheeda REE Project, encompassing 4,244 hectares, shows potential with a robust 2021 PEA indicating a $517 million NPV and an 18% IRR.

Defense Metals Corp. has initiated its 2022 diamond drilling program at the Wicheeda Rare Earth Element (REE) deposit in British Columbia. The program aims to complete up to 5,000 metres of drilling to further delineate existing resources and assess exploration targets. Notably, previous drill results showed high-grade intervals with 3.79% TREO over 150 metres, including 8.06% TREO over 12 metres. The project has a promising PEA indicating an after-tax NPV of $517 million and an 18% IRR, highlighting significant potential for future growth.

Defense Metals Corp. (OTCQB: DFMTF) has reported promising results from the Acid Bake process testing on its Wicheeda Rare Earth Element (REE) Project. Initial findings indicate a recovery rate exceeding 95% for neodymium and praseodymium, indicating improved extraction efficiency compared to the previous method. The testing, which began in December 2021, is set to conclude in late 2022 and aims to enhance project economics by potentially lowering capital and operating costs. The Wicheeda Project boasts an after-tax net present value of $517 million and an 18% internal rate of return.