Mr. Todd Hanas reports

DEFENSE METALS SHIPS MIXED RARE EARTH CARBONATE SAMPLES TO TWO MAJOR REE COMPANIES

Defense Metals Corp. has shipped samples of mixed rare earth carbonate (MREC) to two major rare earth element (REE) companies. Samples generated by SGS Canada Inc. in Lakefield, Ont., 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 deposit have now been sent to almost every REE separator in the world.

MREC samples shipped to the recipients are independently verifying the high-quality of the REE product from the Wicheeda deposit and further establishing Defense Metals' Wicheeda REE Project as a critically important, future North American source of rare earths.

Craig Taylor, chief executive officer of Defense Metals, commented:

"Defense Metals continues to advance the Wicheeda project, establishing it as one of the few western world REE projects that has the key characteristics required for a viable REE project, including (1) location and superior logistics, (2) minerology, metallurgy and grade, (3) the ability to produce a REE product as established by pilot plant operations, (4) significant potential mine life, and (5) social licence and support of the McLeod Lake Indian Band. Defense Metals believes strongly that Wicheeda will play a key role in establishing North American REE supply chains, first and foremost, with respect to mining and hydrometallurgical processing, and ultimately with respect to the onshoring of downstream REE separation, refining and metallizing capabilities. Defense Metals is positioned as one of the very few North American REE companies having true ability to achieve this vision."

Defense Metals to attend the Prospectors & Developers Association of Canada Convention

Defense Metals will be attending the Prospectors & Developers Association of Canada (PDAC) Convention in Toronto, Canada, from March 3 to March 6, 2024, and invites interested parties to visit the company at booth No.2500 and at Discovery Group's Booth No. 2630.

Qualified person

This news release has been reviewed and approved by Kristopher J. Raffle, PGeo (B.C.), a principal of APEX Geoscience Ltd., of Edmonton, Alta., a technical consultant to the company and a qualified person as defined in National Instrument 43-101.

About Defense Metals Corp.

Defense Metals is a mineral exploration and development company focused on the development of its 100-per-cent-owned, 8,301-hectare (approximately 20,534-acre) Wicheeda REE project that is located on the traditional territory of the McLeod Lake Indian Band in British Columbia, Canada.

We seek Safe Harbor.