Mr. Craig Taylor reports

DEFENSE METALS DRILLS 4.21% LIGHT RARE EARTH OXIDE OVER 48 METRES AND EXTENDS MINERALIZED ZONE AT WICHEEDA RARE EARTH ELEMENT DEPOSIT

Defense Metals Corp. has released assay results for an additional three holes from the recently completed 2019 resource definition diamond drill program at its 1,708-hectare (4,220 acres) Wicheeda rare earth element (REE) project located near Prince George, Canada.

Drill hole WI19-25, drilled to define the southern margin of the Wicheeda REE deposit, returned two higher-grade intervals: an upper zone that assayed 3.87 per cent light rare earth oxide (LREO) (being cerium, lanthanum, neodymium, praseodymium and samarium oxides) over a drill core interval of 24 metres and a lower interval assaying 3.93 per cent LREO over a drill core interval of 23 metres. Both intervals occur within a broader REE mineralized interval that assayed 2.22 per cent LREO over a drill core interval of 142 metres from surface. The transition from higher-grade dolomite-carbonatite corresponded with the edge of the southern limit of the 2019 mineral resource estimate; however, REE mineralized fenite rocks continued to a depth of 142.3 metres, thereby extending REE mineralization a distance of approximately 40 metres south of the 2019 mineral resource estimate limit.

Drill hole WI19-26, collared from the same drill pad, returned a single longer higher-grade intercept assaying 4.21 per cent LREO over a drill core interval of 48 metres within a broader zone of mineralization assaying 2.82 per cent LREO over a core interval of 126 metres. Significantly, WI19-26 was designed to drill west starting from a higher elevation above and ultimately terminating well below historical vertical drill hole WI09-05, which was lost in difficult ground conditions at a depth of 56 metres.

Drill hole WI19-27, collared from the same pad and drilled northeast to provide a high-elevation pierce point of the margin of the Wicheeda deposit returned an average grade of 2.54 LREO over a drill core interval of 118 metres, corresponding almost exactly with the predicted margin based on the 2019 mineral resource estimate. The hole collared into dolomite carbonatite, which continued to a downhole depth of 120 metres.

Craig Taylor, chief executive officer and president of Defense Metals, commented: "We are extremely pleased with the results from these three additional drill holes. The 2019 Wicheeda REE deposit diamond drill hole assay results continue to yield higher-grade zones of mineralization as seen in drill holes WI19-25 and WI19-26, in addition to expansion of the REE mineralization beyond the limits of the 2019 miner resource estimate. Defence Metals continues to deliver on its stated drill program goals of increasing our confidence in the existing resource and expansion of the Wicheeda REE deposit."

The 2019 drill program comprised 13 diamond drill holes, totalling 2,005 metres that were completed from three separate drill pads that were designed to test the northern, southern and western extent of the Wicheeda REE deposit where it remains open and to further delineate the relatively higher-grade, near-surface dolomite carbonatite unit.

Defense Metals looks forward to receipt of assay results for the remaining five drill holes within the coming weeks and will provide additional updates as they are received.

Methodology and quality assurance/quality control (QA/QC)

The analytical work reported on herein was performed by ALS Canada Ltd. at Kamloops (sample preparation) and Vancouver (inductively coupled plasma mass spectrometry (ICP-MS) fusion), B.C. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Defense Metals and the qualified person. Drill core samples were subject to crushing at a minimum of 70 per cent passing two millimetres(mm), followed by pulverizing of a 250-gram split to 85 per cent passing 75 microns. A 0.1-gram sample pulp was then subject to multielement ICP-MS analysis through lithium-borate fusion to determine individual REE content (ME-MS81h). Defense Metals follows industry standard procedures for the work carried out on the Wicheeda project, with a QA/QC program. Blank, duplicate and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Defense Metals detected no significant QA/QC issues during review of the data. Defense Metals is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.

Qualified person

The scientific and technical information contained in this news release as it relates to the Wicheeda rare earth element project has been reviewed and approved by Kristopher J. Raffle, professional geoscientist (British Columbia), principal and consultant of APEX Geoscience Ltd. of Edmonton, Alta., a director of Defense Metals and a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Raffle verified the data disclosed, which includes a review of the analytical and test data underlying the information and opinions contained therein.

About Defense Metals Corp.

Defense Metals is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in the electric power market, military, national security and the production of green energy technologies.

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