Mr. Mark Tory reports

DEFENSE METALS ANNOUNCES COMMENCEMENT OF THE SPRING 2026 DRILL PROGRAM AT WICHEEDA RARE EARTHS PROJECT

Mobilization of field crews was completed on May 1, 2026, and Defense Metals Corp.'s spring 2026 core drill program has started on its wholly owned Wicheeda rare earth project, located near Prince George, B.C., Canada,

"This drill campaign, with a particular focus on infill drilling, is strategically designed to both enhance and expand our current mineral resource and reserve estimates potentially resulting in the extension of the Wicheeda project's mine life. With drilling now under way, we look forward to delivering results that will not only inform our Feasibility Study, but continue to de-risk and add value to Wicheeda," said Mark Tory, CEO of Defense Metals Corp.

Following the positive Pre-Feasibility Study results (please refer to Defense Metals' news release dated April 7, 2025) and a winter field program, the Company is now focused on executing the programs (including environmental baseline studies and metallurgical pilot plant programs that are now under way) required for the planned Wicheeda project feasibility study (FS).

Defense Metals has engaged Apex Geoscience Ltd. to execute the spring 2026 drill program. The geotechnical and geochemical drilling components will provide critical data to support pit design, waste rock management strategies and environmental considerations -- all of which are key components for the engineering and environmental data sets required for the Wicheeda project FS.

The spring 2026 drill program is expected to run for approximately two months and will comprise approximately 6,865 metres across multiple objectives, including:

• 1,475 metres of pit-slope geotechnical drilling;
• 2,590 metres of waste rock geochemical drilling;
• 2,800 metres (approximately 20 holes) of resource upgrade and infill drilling.

Further updates will be provided as results become available.

Qualified person

The scientific and technical information contained in this news release as it relates to the Wicheeda project has been reviewed and approved by Kristopher J. Raffle, PGeo (British Columbia), principal and consultant of Apex Geoscience of Edmonton, Alta., and a consultant to the company, who is a qualified person as defined in National Instrument 43-101.

About Defense Metals Corp.

Defense Metals is an advanced rare earth element (REE) development company focused on delivering strategically critical metals to the Western-world defence, high-technology and clean energy supply chains. The company's primary asset is its 100-per-cent-owned Wicheeda REE deposit, located near Prince George, B.C., Canada.

The Wicheeda project is one of the most advanced, undeveloped REE deposits in North America or Europe, featuring a robust mineral resource and mining reserve, as detailed in the company's 2025 prefeasibility study (refer to the company's news release dated April 7, 2025) prepared in accordance with NI 43-101, Standards of Disclosure for Mineral Projects. The PFS shows the economic potential of the deposit and supports future project development.

Defense Metals is committed to advancing the Wicheeda project through the feasibility study stage, permitting and ultimately into production, positioning the company to become a reliable supplier of critical REEs that are essential to modern defence systems, advanced manufacturing and energy-efficient technologies.

The PFS for the Wicheeda rare earth element project is preliminary in nature and includes numerous assumptions regarding metallurgy, capital and operating costs, and market conditions.

Mineral reserves and the economic outcomes projected in the PFS are subject to significant uncertainties, and there is no certainty that the results of the PFS will be realized. Additional studies, including a feasibility study and permitting, are required before a production decision can be made for the Wicheeda project.

We seek Safe Harbor.