Defense Metals Provides Wicheeda Rare Earth Element Drill Update
DEFENSE METALS PROVIDES WICHEEDA RARE EARTH ELEMENT DRILL UPDATE
Vancouver, British Columbia — September 4, 2019 Defense Metals Corp. (“Defense Metals”) (DEFN:
TSX-V / DFMTF: OTCQB / 35D: FSE) is pleased to provide an operational update regarding the current
resource definition diamond drill program at its 1,708 hectare (4,220 acre) Wicheeda Rare Earth Element
(REE) Project located near Prince George, Canada.
Subsequent to announcing the 2019 Wicheeda drill program ( see the Defense Metals’ August 12, 2019
New Release ), camp construction and site preparation for all planned diamond drill locations was
completed. Core drilling started at the location of the Wicheeda 30 tonne bulk sample site, whi ch
previously returned composite head assay s of 1.77% lanthanum -oxide, 2.34% cerium -oxide, 0.52%
neodymium-oxide, and 0.18% praseodymium-oxide, for a total of 4.81% light rare-earth oxide (“LREO”;
see Defense Metals’ March 14, 2019 News Release for a more detailed description of the results).
To date, eight of a planned thirteen NQ-sized core drill holes totalling 1,165 metres have been completed;
an average of approximate ly 2.5 days-per-hole, progress that Defense Metals considers excellent. All
holes drilled to date have intersected significant widths of dolomite-carbonate containing visible REE
mineralization.
Defense Metals continues to advance its geologic understanding of the Wicheeda Deposit . A detailed
review of historical and current drill core indicates the presence of multiple phases of REE mineralized
dolomite-carbonatite; one of which contains a visually higher percentage of REE -bearing minerals.
Subject to completion of the remaining drilling and receipt of final assays results, Defense Metals will
evaluate the impact of these previously unrecognized REE mineralized domains and their potential
positive contribution to the Wicheeda Deposit mineral resource estimate.
Craig Taylor, CEO and President of Defense M etals Corp., commented : “We have intersected REE
mineralization within every drill hole of the current drill program. Our 2019 resource definition drilling
will allow for an updated and enhanced geological model that Defense Metals believes will substantially
increase our confidence in the contained REE mineral resources of the Wicheeda Rare Earth Deposit.”
Qualified Person
The scientific and technical information contained in this news release as it relates to the Wicheeda Rare
Earth Element Project 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 Disclosure for Mineral Projects.
About Defense Metals Corp.
Defense Metals 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 pro-
duction of green energy technologies, such as, high strength, light weight, rare earth magnets. Defense Met-
als’ primary focus is to exercise its option to acquire 100% of the 1,780 hectare Wicheeda Rare Earth Ele-
ment Project. Defense Metals Corp. trades in Canada under “DEFN” on the TSX Venture Exchange, the
United States, under “DFMTF” on the OTCQB and the German, Frankfurt Exchange under the symbol of
“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.
Forward Looking Information
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities
law, including without limitation, Defense Metal’s plans for its properties/projects, the ongoing and future drilling at the Wicheeda Project,
drill results, other statements relating to the technical, financial and business prospects of Defense Metals, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions.
These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet deter-
minable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as
“expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that
certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved), and variations of
such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking state-
ment are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of
Defense Metals to be materially different from future results, performances or achievements express or implied by such statements. Such
statements and information are based on numerous assumptions regarding present and future business strategies and the environment in
which Defense Metals will operate in the future, including the price of metals and elements, anticipated costs and the ability to achieve
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, and that third party contractors, equipment and supplies and governmental and other approvals
required to conduct Defense Metals’ planned exploration activities will be available on reasonable terms and in a timely manner. While
such estimates and assumptions are considered reasonable by the management of Defense Metals, they are inherently subject to significant
business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, perfor-
mance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related
to rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration
results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses;
(iv) that resource exploration and development is a speculative business; (v) that Defense Metals may lose or abandon its property interests
or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that
Defense Metals may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or
mining results will not be consistent with Defense Metals’ expectations; (ix) exploration and development risks, including risks related to
accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development;
(x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii)
the uncertainty of profitability based upon Defense Metals’ history of losses; (xiii) risks related to environmental regulation and liability;
(xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social li-
cence”), including local First Nations; (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and
authorizations relating to the continued exploration and development of Defense Metals’ projects; (xvi) risks related to the outcome of
legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial
conditions; and (xx) other risks and uncertainties related to Defense Metals’ prospects, properties and business strategy. These risks, as
well as others, could cause actual results and events to vary significantly.
Factors that could cause actual re sults 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, the loss of key directors, employees,
advisors or consultants, adverse weather conditions, increase in costs, equipment failures, litigation, failure of counterparties to perform
their contractual obligations and fees charged by service providers. Investors are cautioned that forward -looking statements are not
guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due
to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof
and Defense Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly required by applicable securities legislation.