Defense Metals files pre-feasibility technical report for its Wicheeda project

Defense Metals (TSXV: DEFN; OTCQB: DFMTF) announced the filing of an independent pre-feasibility study (PFS) technical report for its Wicheeda rare earth element deposit, located near Prince George, British Columbia. The effective date of the report is February 28, 2025.

The Wicheeda project, about 80 km northeast of the city of Prince George, is accessible by a paved highway and all-weather gravel roads and is close to infrastructure, including hydro power transmission lines and gas pipelines.

The report, prepared in accordance with the Canadian Securities Administrators' National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101), supports the findings disclosed in the company's February 18, 2025, news release titled "Defense Metals – Robust Economics from Wicheeda Rare Earth Deposit PFS."

Mark Tory, president and CEO of Defense Metals remarked: "The detail and quality of the report is due to the work of renowned global experts Hatch and SRK and supporting group of consultants. I would like to thank them all for the time and effort that has been put into this comprehensive report."

The report reaffirmed the potential of the Wicheeda rare earth element deposit to drive regional prosperity and contribute to global supply chain issues.

BC Minister of Mining and Critical Minerals Jagrup Brar, added: "The Government of British Columbia is pleased to see Defense Metals making significant progress with the Wicheeda rare earth deposit. We understand that the project has the potential to become a significant global supplier of rare earth elements, and we welcome the work that Defense Metals is doing to advance their project. Our government is committed to improving permitting timelines and processes across the province."

The new report also received support from leadership within the company’s partner, the McLeod Lake Indian Band.

Chief Harkey Chingee commented: "The positive economic outcomes from the pre-feasibility study of the Wicheeda project affirm our position and established commitment to supporting its success. We look forward to continued collaboration with Defense Metals as we move forward together, creating long-term economic opportunities and sustainable benefits for the McLeod Lake Indian Band and contributing to the prosperity of the wider regional economy."

The complete report is available on the company's website at www.DefenseMetals.com.