| News Release – Vancouver, British Columbia – July 10, 2024: Defense Metals Corp. (“Defense Metals” or the “Company”; TSX-V:DEFN / OTCQB:DFMTF / FSE:35D) is pleased to confirm support from the Government of British Columbia in the development of its wholly owned Wicheeda Rare Earth Element Project. “Rare earth elements play a crucial role in green technologies like wind turbines and electric vehicle motors, and projects such as Wicheeda are integral to BC’s critical minerals strategy and the world’s energy transition,” said Josie Osborne, Minister of Energy, Mines, and Low Carbon Innovation. “The BC Critical Minerals Office will bring significant benefits to the Wicheeda Project and others like it by providing a ‘concierge-like’ service with dedicated support to navigate regulatory processes, advance funding opportunities, and expedite solutions to issues.” Craig Taylor, CEO of Defense Metals commented, “This crucial support from the provincial government is very significant and most welcome as it will enable the development of our Wicheeda rare earth deposit by mitigating regulatory and permitting delays. This, combined with the solid technical progress we have achieved, including extensive metallurgical pilot testing and evaluation of samples by potential third-party off-takers, reinforcing our confidence that we are on track to meet our objective of commencing production in 2029.” Guy de Selliers, Chairman of the Board of Defense Metals emphasised, “These positive developments strengthen my belief that Defense Metals will become the first new significant North American producer of NdPr, two of the most essential rare earth elements.” |
