Mr. Craig Taylor reports

DEFENSE METALS SHIPS MIXED RARE OXIDE AND CARBONATE SAMPLES TO INTERESTED PARTIES

SGS Canada Inc. has shipped samples of mixed rare earth oxide and mixed rare earth carbonate to interested parties on behalf of Defense Metals Corp. These samples were generated during 2023 hydrometallurgical piloting test work performed on concentrate produced by earlier flotation pilot plant testing of a 26-tonne bulk sample taken from the company's wholly owned Wicheeda rare earth element (REE) deposit.

The samples are being distributed to certain select major processors, refiners and metals traders located in Europe, Asia and North America, allowing the recipients to independently verify the high quality of REE products from the Wicheeda deposit, and establishing Wicheeda as an important, future North American source of the rare earths needed to satisfy the rapidly increasing demand. The sample specifications are varied based on the recipients' particular requirements, and these parties could represent future offtake or strategic partners for Defense Metals; these shipments are a critical step toward defining such potential opportunities.

Craig Taylor, chief executive officer of Defense Metals, commented: "Given that rare earth magnet production needs to double in the next decade to satisfy the demand created by electric vehicles, a new and significant western supplier, such as Defense Metals, is essential. To put this increased demand into perspective, it is the equivalent of bringing into production one Mountain Pass mine, currently the only North American rare earth producer, every year for the next 10 years. With the Wicheeda project's superior logistics, together with our confidence in the metallurgical processing characteristics of Wicheeda mineralization, Defense Metals continues to position itself as a significant contributor to the North American green energy solution."

Defense Metals to attend 19th International Rare Earths Conference

Defense Metals also announces that it will be attending in the 19th International Rare Earths Conference in San Antonio, United States, hosted by Metal Events, from Oct. 18 to Oct. 20, 2023.

About the Wicheeda rare earth element project

Defense Metals' 100-per-cent-owned, 6,759-hectare (approximately 16,702-acre) Wicheeda project is located approximately 80 kilometres northeast of the city of Prince George, B.C., population 77,000. The Wicheeda deposit is readily accessible by all-weather gravel roads and is near infrastructure, including hydropower transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the deep-water port facilities at Prince Rupert, the closest major North American port to Asia.

About Defense Metals Corp.

Defense Metals is a mineral exploration and development company focused on the development of its 100-per-cent-owned Wicheeda rare earth element project located near Prince George, B.C., Canada.

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