Defense Metals Announces Pilot-Scale Flotation Test Program for Wicheeda Rare Earth Project
Defense Metals Announces Pilot-Scale Flotation Test Program for
Wicheeda Rare Earth Project
VANCOUVER, BC
,
Feb. 17, 2026
/CNW/ - Defense Metals Corp. ("Defense Metals" or the "Company") (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D), a
company focused on the development of the Wicheeda Rare Earth Project ("Wicheeda Project"), located near
Prince George, British Columbia
, Canada,
is pleased to announce that it has appointed SGS Canada Inc. ("SGS") to undertake a comprehensive 30-tonne pilot-scale flotation testing program on
two newly-prepared drill core composite samples from the Wicheeda deposit.
The Company's metallurgical program is designed to further advance process flowsheet development and support future engineering studies for the
Wicheeda Project. The program includes the preparation and testing of two composite samples, consisting of representative drill core material for Years
1 – 5 of the proposed operation and Year 6 onwards. Importantly, the pilot plant operation will generate about 1.5 tonnes of flotation concentrate which
will be used in a hydrometallurgical pilot plant to be undertaken later this year. The total estimated cost of the pilot flotation program is approximately
CAD$1 million
.
"We have been steadily releasing work packages which form the foundation for progressing our 2025 pre-feasibility study (refer to Company News
Release
April 7th, 2025
) to a feasibility stage," said
Mark Tory
, CEO of Defense Metals. "Having already accelerated our field work and environmental
baseline programs, we are pleased to announce this comprehensive pilot-scale flotation testing program as the next major step towards the development
of the Wicheeda project as
Canada's
first large scale REE critical minerals producer."
SGS was selected based on its experience and reputation as the benchmark for quality and integrity in the collaborative design and execution of a pilot
plant of this type. The program will be managed on behalf of Defense Metals by chief metallurgical consultant Mr.
John Goode
, P.Eng. Mr. Goode has an
extensive career in the design, monitoring, and interpretation of beneficiation and hydrometallurgical test-work and has over 60 years of experience as a
metallurgist working on numerous rare earth projects located in
Canada
,
Brazil
,
USA
,
China
,
Australia
,
Russia
, and elsewhere.
"This program represents a significant step toward the de-risking and optimisation of the metallurgical processing route for the Wicheeda Project," noted
Mr. Goode. "It will generate additional data required for the feasibility study and produce the high-grade flotation concentrate feed for the planned
hydrometallurgical pilot plant."
The Company will provide further updates as the test program is finalized and progresses.
Grant of Incentive Stock Options
The Company also announces the grant of 7,375,000 incentive stock options ("Options") to directors, officers and consultants of the Company, subject to
TSX Venture Exchange approval. Options are exercisable for the purchase of one common share of the Company for three years at a price of
C$0.28
per
common share.
About Defense Metals Corp. and its Wicheeda Rare Earth Element Project
Defense Metals Corp. ("Defense Metals" or the "Company") is an advanced rare earth elements (REE) exploration and development company focused on
delivering strategically critical metals to Western defence, high-technology, and clean energy supply chains. The Company's primary asset is its 100%-
owned Wicheeda Rare Earth Element Project, located near
Prince George, British Columbia
, Canada.
The Wicheeda Project is one of the most advanced undeveloped rare earth deposits in
North America
or
Europe
, featuring a robust mineral resource and
mining reserve, as detailed in the Company's 2025 Pre Feasibility Study ("PFS") (refer to Company News Release
April 7
th
, 2025) prepared in
accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The PFS, showed the economic potential of the
deposit, supporting future project development.
Defense Metals is committed to advancing the Wicheeda Project through the Feasibility Study ("FS") stage, permitting, and eventually into production
positioning the Company to become a reliable supplier of critical rare earths that are essential to modern defence systems, advanced manufacturing, and
energy-efficient technologies.
The Company's shares trade on the TSX Venture Exchange (TSXV: DEFN), the OTCQB Venture Market (DFMTF) and the Frankfurt Exchange (FSE:
35D).
The PFS for the Wicheeda Rare Earth Element Project, prepared in accordance with NI 43-101 is preliminary in nature and includes numerous
assumptions regarding metallurgy, capital and operating costs, and market conditions.
Mineral reserves and the economic outcomes projected in the PFS are subject to significant uncertainties, and there is no certainty that the results of the
PFS will be realized. Additional studies, including a Definitive Feasibility Study (DFS) and permitting work, are required before a production decision can
be made.
For further information, please visit
www.defensemetals.com
or contact:
Ali Mahdavi
SVP Corporate Development
Email:
Mark Tory
President and CEO
Email:
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) 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 and the proposed debt settlement. 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 07:00e 17-FEB-26