News Release – Vancouver, British Columbia – February 11, 2021: Defense Metals Corp. (“Defense Metals”) (TSX-V:DEFN / OTCQB:DFMTF / FSE:35D) is pleased to announce that it has engaged Welsbach Holdings Pte Ltd. (“Welsbach”) to assist in building awareness for its Wicheeda Rare Earth Element (REE) Property (“Wicheeda”), providing physical product market research, introductions to supply chain partners, and assistance in commercial negotiations. 
The road accessible Wicheeda REE Property is located close to infrastructure approximately 80 kilometres northeast of Prince George, British Columbia (BC). The Wicheeda project has indicated mineral resources of 4,890,000 tonnes averaging 3.02% LREO (Light Rare Earth Elements) and inferred mineral resources of 12,100,000 tonnes averaging 2.90% LREO[1]. Flotation pilot-plant processing of a 26-tonne bulk sample of Wicheeda REE material yielded a mineral concentrate averaging 7.4% NdPr oxide (neodymium-praseodymium) critical magnet metals[2].
 
Craig Taylor, CEO of Defense Metals, stated: “The engagement of Welsbach will enable Defense Metals to leverage their extensive experience and relationships in the Asia-Pacific region (Australia, Singapore, China, Japan, and South Korea), Continental Europe, and the United States towards engaging in one-on-one discussions with REE refiners and separators. The goal is the successful negotiation of one or more binding commercial REE offtake and/or other supply chain agreements with respect to the Wicheeda REE Deposit. Welsbach will immediately commence its work aiding with respect to strategic partner identification, business introductions, and ultimately commercial negotiations.”
 
Brendan Jephcott, Welsbach’s Asia advisory partner said: “We are pleased to engage with Defense Metals Corp. regarding the Wicheeda project. The current global situation requires supply chains to strengthen their resilience and increase their capacity, in order to respond to growing demand. Part of our mission at Welsbach is to support the efforts of junior mining companies and assist them in their commercial processes. Welsbach is a specialist in the Energy Transition Metals Supply Chain and we are keen to bring Defense Metals Corp project to our network of mid and downstream partners“. About Welsbach Holdings Pte Ltd.
For more information regarding Welsbach please click here.
Welsbach invests and develops projects that are related to technology materials and clean energy generation. Welsbach has supply chains partners in the upstream and midstream segments; Welsbach also focuses on R&D solutions for industrial consumers in the downstream segment.
Carl Auer Von “Welsbach” was an Austrian scientist who separated didymium into the elements neodymium and praseodymium in 1885. His work on rare-earth elements led to the development of the ferrocerium “flints” used in modern lighters, the gas mantle, which brought light to the streets of Europe in the late 19th century, and the metal-filament light bulb.  

About the Wicheeda REE Property
The 1,708 hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is nearby to infrastructure, including power transmission lines, the CN railway and major highways.
Geologically, the property is situated in the Foreland Belt and within the Rocky Mountain Trench, a major continental geologic feature. The Foreland Belt contains part of a large alkaline igneous province, stretching from the Canadian Cordillera to the southwestern United States, which includes several carbonatite and alkaline intrusive complexes hosting the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) deposits.
Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosurefor Mineral Projects. Mr. Raffle verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein.  

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in the electric power market, military, national security and the production of “GREEN” energy technologies, such as, high strength alloys and rare earth magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

For further information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd. 
Vice President, Investor Relations 
Tel: (778) 994 8072
Email: todd@blueskycorp.ca