DEFENSE METALS CORP - DFMTF STOCK NEWS

Defense Metals Corp. has initiated an internal technical review of its Athabasca Basin uranium projects due to a surge in uranium prices. The Geiger North and Klaproth projects cover 9,363 hectares, strategically located near significant mining operations. These projects are expected to undergo renewed exploration, leveraging historical data to identify potential mineralization. CEO Craig Taylor emphasized the company's focus on maximizing shareholder value while advancing the Wicheeda Rare Earth Element Deposit.

Defense Metals Corp. announced significant progress in its Wicheeda Rare Earth Element deposit expansion, reporting the first drill hole of the 2021 program intersecting a 215-metre REE mineralized carbonatite section, the longest yet at the project. As of now, over 750 metres have been drilled with ongoing work on the fourth hole. This resource expansion aims to enhance indicated resources of 4.89 million tonnes at 3.02% LREO and inferred resources of 12.1 million tonnes at 2.90% LREO. CEO Craig Taylor expressed satisfaction with the progress and the potential for further expansion.

Defense Metals Corp. announced the initiation of a diamond drilling program at its Wicheeda Rare Earth Element (REE) deposit in British Columbia, aiming to complete up to 5,000 metres of drilling to expand resources. The Wicheeda property has indicated resources of 4.89 million tonnes at 3.02% LREO and inferred resources of 12.1 million tonnes at 2.90% LREO. The 2021 drill program builds on a successful 2019 campaign that enhanced tonnage and grade significantly. CEO Craig Taylor expressed optimism about solidifying Wicheeda as a premier North American REE asset.

Defense Metals Corp. (OTCQB: DFMTF) has completed the construction of steep terrain drill pads for its 2021 Wicheeda Rare Earth Element (REE) Deposit expansion program. The Wicheeda project contains indicated resources of 4,890,000 tonnes at 3.02% LREO and inferred resources of 12,100,000 tonnes at 2.90% LREO. Drilling will commence in early September, targeting resource expansion and further delineation of existing resources. The ongoing economic scenario analysis aims to inform a Preliminary Economic Assessment (PEA) for the project.

Defense Metals Corp. has signed a non-binding Memorandum of Understanding (MOU) with Sinosteel Equipment & Engineering Co., Ltd. The MOU focuses on information sharing, beneficiation testwork, and investigates the establishment of a large-scale pilot plant at the Wicheeda Rare Earth Property. The collaboration aims to assess the economic and technical feasibility of mine development. The benefit includes sharing expertise and a 200kg rare earth sample for testing, with costs expected at US$200,000. The pilot plant will leverage both beneficiation and hydrometallurgical processes.

Defense Metals Corp. has appointed a British Columbia contractor to construct drill pads for its 2021 Wicheeda Rare Earth Element (REE) Deposit program, set to commence late July 2021. The project has indicated resources of 4,890,000 tonnes averaging 3.02% LREO and inferred resources of 12,100,000 tonnes averaging 2.90% LREO. The drill program will expand REE resources and delineate existing deposits. Additionally, the company granted 950,000 stock options at $0.25 per share and is pursuing export permits for REE concentrate. A marketing agreement with North Equities has also been established.

Defense Metals Corp. (OTCQB: DFMTF) attended the 2021 SelectUSA Investment Summit, held virtually from June 7-11, 2021. The company is advancing its Wicheeda Critical Rare Earth Element (REE) Property in British Columbia, boasting indicated resources of 4.89 million tonnes at 3.02% LREO. Key initiatives include a resource expansion drill campaign and hydrometallurgical tests. The U.S.-Canada cooperation in critical minerals aims to enhance supply chain resilience. CEO Craig Taylor expressed excitement for potential partnerships with U.S. agencies to support the U.S. industrial metals sector.

Defense Metals Corp. plans to conduct a diamond drill campaign at its Wicheeda Rare Earth Element deposit in 2021, aiming to drill 2,000 to 5,000 meters to expand and delineate resources. The Wicheeda Property has indicated resources of 4,890,000 tonnes at 3.02% LREO and inferred resources of 12,100,000 tonnes at 2.90% LREO. The drilling will build on the 2019 campaign that led to significant resource increases. CEO Craig Taylor noted the potential for additional near-surface resources.

Defense Metals Corp. (OTCQB: DFMTF) provided an update on its hydrometallurgical test work at the Wicheeda REE Property, yielding a mineral concentrate with an average of 7.4% NdPr oxide. The property features indicated resources of 4,890,000 tonnes at 3.02% LREO, and inferred resources of 12,100,000 tonnes at 2.90% LREO. Recent tests indicate high REE extraction and successful impurity removal, with the completion of optimization expected in 4-6 weeks. These advancements suggest potential future cost reductions and improved efficiency for the planned pilot plant.