Defense Metals Announces Appointment of Mark Tory as CEO
Defense Metals Announces Appointment of Mark Tory as
CEO
VANCOUVER, BC
,
Nov. 18, 2024
/CNW/ - Defense Metals Corp. ("Defense Metals" or the "Company") (TSXV: DEFN)
(OTCQB: DFMTF) (FSE: 35D) is pleased to announce the appointment of Mr.
Mark Tory
to the position of Chief
Executive Officer ("CEO"). Mr. Tory will commence his new role
January 1, 2025
, and will be relocating to
Vancouver
.
Reporting to Defense Metals' Board of Directors, Mr. Tory will be responsible for leading the development of the world
class Wicheeda Project as the Company advances swiftly towards completing its Prefeasibility Study ("PFS"), with the
results published in Q1 2025.
Mr. Tory is a highly experienced resources executive with significant rare earths experience having held key leadership
roles at Northern Minerals initially as Chief Financial Officer ("CFO") and then subsequently CEO while they developed the
Browns Range Rare Earth Project, including the planning, building and operation of a
A$70 million
pilot plant. His previous
executive experience includes Managing Director of Crescent Gold Limited, after a period as CFO and Company
Secretary. He has had international exposure to resources' capital markets as well as holding key leadership roles in
companies that range from exploration to development through to operating mines across commodities, including rare
earths, battery materials, base metals and gold.
Mr. Tory is a Chartered Accountant and holds a BBus, MBA and is a Graduate of the Australian Institute of Company
Directors (GAICD).
Defense Metals' Executive Chair, Mr. de Selliers, said:
"I am extremely excited at having Mark as our CEO. His career speaks for itself, but what is important to the
Board, and myself in particular, is his integrity, leadership and knowledge of the rare earths sector. Mark is also a
company builder, which is exactly what we need. Being able to attract somebody of Mark's calibre, together with
the strong interest we had from several other highly qualified CEO candidates, is another confirmation of the
quality of our Wicheeda Project."
Mr. Tory added:
"I am most enthusiastic at being appointed CEO of Defense Metals. What immediately attracted me to this
opportunity is the rather unique characteristics of the Wicheeda deposit which makes it one of the most promising
deposits in
North America
which includes the ability to upgrade the inground TREO to an over 50% concentrate
through a relatively simple beneficiation process. I am also very pleased to be working with an extremely high
calibre Board which shares the same values as I and is determined to build a profitable and sustainable major
project. I look forward to working closely with the Company's technical teams as they finalise the PFS which will
be published early next year. Joining Defense Metals is a new and exciting stage in my life and career, and I am
truly delighted."
About Defense Metals Corp. and its Wicheeda Rare Earth Element Project
Defense Metals Corp. is focused on the development of its 100% owned, 8,301-hectare (~20,534-acre) Wicheeda REE
Project that is located on the traditional territory of the McLeod Lake Indian Band in
British Columbia, Canada
.
The Wicheeda REE Project, approximately 80 kilometres (~50 miles) northeast of the city of
Prince George
, is readily
accessible by a paved highway and all-weather gravel roads and is close to infrastructure, including hydro power
transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the
port facilities at
Prince Rupert
, the closest major North American port to
Asia
.
For further information, please visit
www.defensemetals.com
or contact:
Alex Heath
Senior Vice President, Corporate Development & Interim CFO
Tel: +1 604-354-2491
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release contains "forward
looking information or statements" within the meaning of applicable securities laws,
which may include, without limitation, any statements (expressed or implied) relating to: advancing the Wicheeda Project,
the use of net proceeds from the Private Placement, final TSXV approval of the Private Placement, the technical, financial
and business prospects of the Company, its project and other matters. Forward-looking statements are typically identified
by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue,"
"could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but
the absence of these words does not mean that a statement is not forward-looking. All statements in this news release,
other than statements of historical facts, that address events, contribution or developments that the Company expects to
occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and
actual results may differ materially from those in the forward-looking statements. Such statements and information are
based on numerous assumptions regarding present and future business strategies and the environment in which the
Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the
ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner,
that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the
Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks
and uncertainties relating to the interpretation of exploration and metallurgical results, risks related to the inherent
uncertainty of exploration and development and cost estimates, the potential for unexpected costs and expenses and
those other risks filed under the Company's profile on SEDAR+ (
www.sedarplus.ca
). While such estimates and
assumptions are considered reasonable by the management of the Company, they are inherently subject to significant
business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ
materially from those in forward looking statements include, but are not limited to, continued availability of capital and
financing and general economic, market or business conditions, adverse weather and climate conditions, failure to
maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain or obtain community
acceptance (including First Nations), risks relating to unanticipated operational difficulties (including failure of equipment or
processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel,
materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or
other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate
geological, metallurgical, engineering and pricing assumptions, decrease in the price of rare earth elements, the impact of
viruses and diseases on the Company's ability to operate, restriction on labour and international travel and supply chains,
loss of key employees, consultants, officers or directors, increase in costs, delayed results, litigation, and failure of
counterparties to perform their contractual obligations. The Company does not undertake to update forward–looking
statements or forward–looking information, except as required by law.
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CNW 17:05e 18-NOV-24