DEFENSE METALS CORP - DFMTF STOCK NEWS

Defense Metals Corp. announced rare earth element (REE) assay results from eight core drill holes at its 100% owned Wicheeda REE Deposit, totaling 2,104 meters. Key highlights include significant mineralized intercepts such as 3.77% total rare earth oxide (TREO) over 30 meters from a geotechnical hole and 2.83% TREO over 66 meters from a resource delineation hole. The 2022 drilling campaign, with 47 holes totaling over 10,000 meters, aims to update the mineral resource. Despite some drill holes not returning significant mineralization, the company continues to see promising results, asserting that Wicheeda is among the top rare earths projects globally.

Defense Metals Corp. announced the appointment of Len Clough to its board of directors as part of its strategy to advance the Wicheeda Rare Earth Elements Project. Clough, who has extensive experience in capital markets and public company management, aims to leverage his expertise to enhance project development and capitalize on the growing demand for rare earth elements, particularly in light of Western efforts to diversify supply chains away from China. Concurrently, the company granted stock options to Clough and other consultants while thanking former director Max Sali for his contributions.

Defense Metals Corp. announced the appointment of John Robins as a strategic advisor, effective January 9, 2023. Robins, with over 35 years of experience in exploration and mining, previously facilitated the $1.8 billion sale of Great Bear Resources to Kinross. His role will support the advancement of the Wicheeda Rare Earth Elements project, which has a robust preliminary economic assessment showing an after-tax NPV of $517 million. The Wicheeda project, covering 4,244 hectares, is crucial for critical metal supply chains.

On November 15, 2022, Defense Metals Corp. announced additional partial assay results from the Wicheeda Rare Earth Element (REE) Deposit in British Columbia. Drill hole WI22-69 encountered a significant zone with an average of 2.14% total rare earth oxide (TREO) over 221 meters, including a higher-grade section of 3.52% TREO over 111 meters. A total of 5,500 meters have been drilled this year, with assays for 7 holes released and results for an additional 11 holes pending. The findings are expected to positively influence the upcoming Preliminary Feasibility Study.

Defense Metals Corp. announced high-grade Rare Earth Element assay results from the Wicheeda REE Deposit, with drill hole WI22-70 revealing 2.50% total rare earth oxide over 113 meters. The company completed 5,500 meters of diamond drilling in 2022, with plans for a Preliminary Feasibility Study (PFS) commencing in Q4 2022. The resource delineation aims to advance the project, bolstered by a preliminary economic assessment showing an after-tax NPV of $517 million and an 18% IRR.

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.