Mr. Craig Taylor reports

DEFENSE METALS' WICHEEDA RARE EARTH ELEMENT PROJECT CONSIDERED AS KEY BY THE GOVERNMENT OF BRITISH COLUMBIA

Defense Metals Corp. has confirmed support from the government of British Columbia in the development of its wholly owned Wicheeda rare earth element project.

"Rare earth elements play a crucial role in green technologies like wind turbines and electric vehicle motors, and projects such as Wicheeda are integral to B.C.'s critical minerals strategy and the world's energy transition," said Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation. "The B.C. Critical Minerals Office will bring significant benefits to the Wicheeda project and others like it by providing a concierge-like service with dedicated support to navigate regulatory processes, advance funding opportunities and expedite solutions to issues."

Craig Taylor, chief executive officer of Defense Metals, commented: "This crucial support from the provincial government is very significant and most welcome as it will enable the development of our Wicheeda rare earth deposit by mitigating regulatory and permitting delays. This, combined with the solid technical progress we have achieved, including extensive metallurgical pilot testing and evaluation of samples by potential third party offtakers, reinforcing our confidence that we are on track to meet our objective of commencing production in 2029."

Guy de Selliers, chairman of the board of Defense Metals, emphasized, "These positive developments strengthen my belief that Defense Metals will become the first new significant North American producer of NdPr [neodymium and praseodymium], two of the most essential rare earth elements."

About Defense Metals Corp.

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

The Wicheeda REE 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.

Defense Metals is a proud member of Discovery Group.

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