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DEFN.V ·

Defense Metals Corp. Grants Stock Options

Share Capital & Compensation

DEFENSE METALS CORP. GRANTS STOCK OPTIONS

News Release - Vancouver, British Columbia – November 26, 2020: Defense Metals Corp. (“ Defense

Metals” or the “ Company”) (TSX-V: DEFN/ DFMTF: OTCQB / 35D: FSE) announces the granting of

incentive stock options (“Options”) to certain of its directors, officers and consultants to purchase up to an

aggregate 495,000 common shares of the Company at a price of $0. 20 per common share for a period of

three (3) years. 25,000 Options granted to Bluesky Corporate Communications Ltd. will vest in stages over

a period of 12 months in equal po rtions every three months starting on the date of grant. The remaining

Options vest on the date of grant.

About Defense Metals Corp.

Defense Meta ls 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 visit https://defensemetals.com/ or contact:

Todd Hanas, Bluesky Corporate Communications Ltd.

Vice President, Investor Relations

Tel: (778) 994 8072

Email: [email protected]

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‐look ing information or statements” within the meaning of applicable securities

laws, which may include, without limitation, other statements relating to the technical, financial and business prospects

of the Company, its projects and other matters . All statements in this news release, other than statements of historical

facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although

the Company believes the expectations expressed in such forward -looking sta tements 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, including the price of metals, the ability to achieve its goals, and that

general business and economic conditions will not change in a material adverse manner. Such forward -looking

information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and

assumptions, including those filed under the Company’s profile on SEDAR at www.sedar.com. 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, general economic, market, business conditions, failure to maintain all necessary government

permits, equipment failures, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate,

approvals and authorizations, and failure to maintain community acceptance (including First Nations). The Company

does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.