Mr. Mark Tory reports

DEFENSE METALS APPOINTS NEW CFO

Defense Metals Corp. has appointed David Baker as chief financial officer and head of strategy, who will assume his position on Aug. 1, 2025. Mr. Baker earned his bachelor of economics and designation as a chartered accountant in Australia before settling in Vancouver in 2005, where he completed an MBA at the University of British Columbia and became a Canadian citizen. Mr. Baker worked within the Ivanhoe Mines group of companies for over 20 years in a variety of roles encompassing operations, the development and financing of the Oyu Tolgoi copper mine in Mongolia as vice-president, treasurer, and as CFO of VRB Energy, a high-tech vanadium redox battery company active in manufacturing and research and development (R&D) within China and internationally. Mr. Baker has spent the last two years with TSX Venture Exchange-listed Camino Mineral Resources as CFO, supporting its corporate development strategy, which recently culminated in the successful acquisition of a construction stage copper project.

Guy de Selliers, executive chairman of Defense Metals, commented:

"I have known David professionally for more than 15 years. He is not only a highly competent financial professional but has always demonstrated the highest level of integrity and sound judgment. He exemplifies the high standards of the team we are building to take our Wicheeda project forward."

Mark Tory, president and chief executive officer of Defense Metals, added:

"I am confident that David has the experience and knowledge that we need. He and I have complementary skills and will form a well rounded and highly efficient team, and I look forward to working with him."

Mr. Baker also commented:

"I am excited to be joining Guy and Mark in leading the development of the Wicheeda project, which I consider without any doubt the best new rare earth project in North America. I look forward to working with all stakeholders in the successful and rapid development of what is clearly a geopolitical priority. I find it immensely motivating to be involved in such a strategically important endeavour for our province and our country."

The company would like to thank Ryan Cheung for stepping in to take on the interim CFO role before Mr. Baker's appointment.

About Defense Metals Corp.

Defense Metals is focused on the development of its 100-per-cent-owned, 11,800-hectare (approximately 29,158-acre) Wicheeda rare earth element (REE) property that is located on the traditional territory of the McLeod Lake Indian Band in British Columbia, Canada.

The Wicheeda project, approximately 80 kilometres (approximately 50 miles) northeast of the city of Prince George, is readily accessible by a paved highway and all-weather gravel roads, and is close to infrastructure, including hydro power transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia. The company recently completed a preliminary feasibility study (PFS) that demonstrated the robust economics of the project.

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