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TICKERS: DEFN; DFMTF; 35D

Highest Grade Intercept to Date Cut at Canadian Rare Earth Project
News Update

Source:

The hit is in a previously untested area, north of the existing resource estimate.

Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTC; 35D:FSEQB) drilled the highest grade gold intercept so far at its Wicheeda rare earth elements (REEs) project near Prince George, Canada, it announced in a news release.

That result was an interval of 4.43% light rare earth oxides (LREOs) over 83 meters (83m) of drill core, including an interval of 5.47% LREOs over 33m of core.

The intercept was encountered in diamond drill hole WI19-31, located in the northern section of the Wicheeda deposit where no drilling has occurred previously. The hole is located to the north of the 2019 mineral resource estimate for Wicheeda but is in the 2019 Lerchs-Grossman pit shell.

"The 2019 Wicheeda REE Deposit drill campaign continues to yield exceptional results. With WI19-31 we have cut the highest grade drill intercept to date on the Project. The results are particularly significant given that WI19-31 occurs at the north end of the Wicheeda Deposit in an area where no prior drilling has been completed. This drill result, in addition to those from previously released holes, clearly illustrates the potential to expand the Wicheeda REE deposit," CEO and President Chris Taylor said in the release.

Also in the release it was noted that hole WI19-31 "was terminated in mineralization at a downhole depth of 138.5m due to poor ground conditions and loss of circulation." However, two other holes targeting the area were drilled, WI19-30 and WI19-32, and results from those are pending.

Defense Metals will drill the untested area around WI19-31 next year.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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