11:03:35 EST Fri 02 Dec 2022
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Defense Metals Corp
Symbol DEFN
Shares Issued 183,374,601
Close 2022-09-07 C$ 0.23
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Defense Metals signs exploration deal with McLeod Lake

2022-09-07 17:14 ET - News Release

Mr. Craig Taylor reports


Defense Metals Corp. has entered into a mineral exploration agreement with the McLeod Lake Indian Band regarding its Wicheeda rare-earth element (REE) exploration project located 80 kilometres northeast of Prince George, Canada.

The agreement addresses the immediate interests of the parties with respect to mineral exploration activities related to the project, and puts into place a framework for communication and co-operation going forward. In addition to providing McLeod Lake Indian Band with meaningful input into how these activities are to proceed, the agreement provides current economic opportunities for the community and establishes a road map for potential future commercial involvement as the exploration activities advance.

"We are delighted to have the McLeod Lake Indian Band engaged with Defense Metals and the opportunities presented by the Wicheeda exploration project," said Craig Taylor, chief executive officer of Defense. "We look forward to building a long-term and mutually beneficial relationship with the McLeod Lake Indian Band through the implementation of this initial agreement."

"McLeod Lake Indian Band has always been open to working with companies that respect our rights, laws and interests in the protection of our lands, and that provide meaningful economic and commercial opportunities for our community," said Chief Harley Chingee. "We are therefore pleased to have completed this initial agreement with Defense Metals, and look forward to its successful implementation."

About Defense Metals Corp.

Defense Metals is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defence industry, national security sector and in the production of green energy technologies, such as, rare-earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100 per cent of the Wicheeda rare-earth element property located near Prince George, B.C., Canada. Defense Metals trades in Canada on the TSX Venture Exchange under the symbol DEFN, in the United States, under DFMTF on the OTCQB and in Germany on the Frankfurt Exchange under 35D.

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