Defense Metals (TSXV: DEFN; OTCQB: DFMTF) announced the signing of a non-binding memorandum of understanding dated April 25, 2025, with a major potential strategic partner for entering into a supply agreement representing a significant portion of its planned output.
Mark Tory, president and CEO, commented: “The interest shown by our potential strategic partner reflects growing industry confidence that Wicheeda could indeed become a strategically important source of rare earth elements based on the convincing results of our detailed pre-feasibility study published earlier this month. We still have a lot of work to do to turn our project into reality, but this MOU is certainly a major step in the right direction.”
Defense Metals is focused on the development of its 11,800-ha (~29,158-acre) Wicheeda rare earth element property. This property is located on the traditional territory of the McLeod Lake Indian Band in British Columbia.
The Wicheeda project about 80 km (~50 miles) northeast of the city of Prince George. The company recently completed a preliminary feasibility study that demonstrated the robust economics of the project.
For further information, please visit www.DefenseMetals.com.
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