DEFN:TSX.V; DFMTF:OTCQB; 35D:FSE

Defense Metals Corp.

Defense Metals has an indicated mineral resource of 4,890,000 tonnes averaging 3.02% LREO (Light Rare Earth Elements), and inferred resources of 12,100,000 tonnes averaging 2.90% LREO.

Defense Metals Corp. 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, such as, high strength alloys and rare earth magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada.

DEFN:TSX.V DFMTF:OTCQB 35D:FSE

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Expert Comments:

Explorer Preparing High-Grade REE Concentrate Samples for Prospective Offtake Partners
(3/25/21)

Defense Metals Corp. reported that two interested third-party rare earth element processors have requested samples of high-grade REE mineral concentrate for evaluation.

Testing Shows REEs at Canada Project Amenable to X-ray Transmission Sorting
(3/11/21)

With XRT sorting, Defense Metals could upgrade the mineralization of feed from Wicheeda and "significantly reduce feed volume."

Explorer's Hydrometallurgy Process Achieves High Impurity Removal from Wicheeda REE Flotation Concentrate
(3/2/21)

Defense Metals Corp. reported that its 26-tonne pilot plant has been successful in removing impurities from flotation concentrate with only minimal rare earth element losses at its Wicheeda REE property.

Company Improves REE Extraction Rate on Further Metallurgical Testing
(2/18/21)

Also with this work, Defense Metals fine-tunes process variables, thus refining its metals separation flowsheet.

REE Explorer Receives LiDaR Survey Data for BC Property
(2/2/21)

Defense Metals reports that the LiDar data "arms us with an enhanced property-wide terrain model."

Erik Wetterling, The Hedgeless Horseman

(1/28/21)

"Defense Metals Corp. owns an advanced rare earth element project in British Columbia, Canada. . .the company is quite an intriguing story given the favorable demand trend as well as strategic shift going on."

Clive Maund, CliveMaund.com

(1/24/21)

"Defense Metals Corp. is a rare earths stock that broke out of a giant base/trading range to enter a powerful uptrend as recently as a month ago, and although it has already more than doubled since then, it looks like this major uptrend has much further to run. . .the company is therefore rated an Immediate Buy for another run similar to its first one."

Stefan Feuler, News Financial

(1/7/21)

"Politicians are desperately looking in Europe or North America for alternatives to rare earth metals production in China. Defense Metals Corp., a mineral explorer, is at the top of the list. . .research is underway at the Wicheeda project in the province of British Columbia. The company says mineral resources are 4.9 Mt at an average grade of 3.02% light rare earth metals (LREO) and Inferred mineral resources of 12.1 Mt at an average grade of 2.90% LREO."

REE Explorer Recruits Jamie Spratt to Serve as Strategic Advisor
(12/9/20)

Defense Metals Corp. reported it has appointed Jamie Spratt as a strategic advisor to the company.

Greg Nolan, Equity Guru

(12/2/20)

"Everything appears to be lining up for Defense Metals Corp.'s highly strategic Wicheeda rare earth element (REE) deposit. . .the metallurgy looks good, great actually. . .and the underlying fundamentals supporting firmer REE prices really couldn't be better."

REE Explorer Installs Meteorological Station and Conducts LiDaR Survey Advancing Environmental Program at BC Property
(11/23/20)

Defense Metals reported that it is advancing its baseline environmental monitoring programs at its Wicheeda Rare Earth Element Property in British Columbia.

News Financial

(10/12/20)

"Defense Metals Corp. has an option to acquire 100% of the 1,708-hectare Wicheeda rare earth element property. . .the company just last week strengthened its management team and appointed Andrew Leland as its strategic advisor. He has been with Lockheed Martin as a systems engineer since 2017."

Clive Maund, CliveMaund.com

(9/27/20)

"Defense Metals Corp. is a rare earth stock that looks like it is ready to break out above a line of resistance at about CA$0.205. . . it looks like a Buy here with the sector correction believed to have run its course."

More Expert Comments

Byron King, St. Paul Research (9/26/20) "Defense Metals Corp. is an early-stage exploration play holding claims on a well-endowed body of rare earth minerals in the middle of British Columbia. Drill results so far indicate large-scale, high-grade mineralization to make up a significant ore body."

	Thibaut Lepouttre, Caesars Report (9/15/20) "Defense Metals Corp. saw an important piece of the rare earth processing puzzle fall into place when the government of Saskatchewan announced it will make CA$31M in funding available for a rare earth element (REE) processing facility. . .this could potentially be important for the company as its current plan is to produce a mineral concentrate at its Wicheeda REE project. . .as a mineral concentrate only has a payability of $0.20–0.25 on the dollar, additional upgrades to said mineral concentrate will be necessary to improve the economics."

Thibaut Lepouttre, Caesars Report (7/20/20) "Defense Metals Corp. has initiated baseline surface water assessment studies on its Wicheeda rare earth elements project. . .this is a necessary step in preparation for advancing the project towards the permitting phase in case a feasibility study confirms the economics. . .before the preliminary economic assessment can be initiated, the company needs the results of the pilot plant, which should complete the first few trial runs later this month."

	Byron King, Whiskey & Gunpowder (7/16/20) "Defense Metals Corp. is one company that offers strong upside in a world where Lockheed just got shut off by China. The company is small but controls a superb, high-grade rare earths-bearing ore deposit in British Columbia that's rich in 'magnet' materials. Defense Metals is drilling on the site, and results have been promising to date."

	Thibaut Lepouttre, Caesars Report (6/24/20) "Open market buyers are now able to acquire Defense Metals Corp. stock at a 15% discount to the CA$0.20 hard dollar financing the company is currently conducting. . .completing the flowthrough financing is very relevant for Defense Metals as the proceeds will be used to compete the flotation plant to further refine and define the recovery rates of the rare earth elements hosting rock from the Wicheeda project."

Greg Nolan, Equity Guru (12/16/19) "Without skipping a beat, Defense Metals Corp. extended its winning streak delivering exceptional rare earth elements (REEs) values from its Wicheeda REE project. . .the market's apathy and the company's current low valuation could be a setup for one of the better trades going into 2020."

Greg Nolan, Equity Guru (11/28/19) "Defense Metals Corp.'s Nov. 27 headline number is the best yet, further demonstrating Wicheeda's continuity; drill hole WI19-31 assayed 4.43% light rare earth oxide (LREO being cerium, lanthanum, neodymium, praseodymium and samarium oxides) over a drill core interval of 83m. That's a solid hit, a super solid hit."

	Chris Parry, Equity Guru (11/20/19) "Defense Metals Corp. has a decent amount of both light rare earth oxides (LREOs) and total rare earth oxides (TREOs), it would appear; LREOs is the sweet spot, and TREOs encompass everything of value. . .the company ramped up 50% in a few days of good drill numbers, has had more since and, I expect, may have some more on the way. . .a worker bee like Defense Metals is a good spot to add to your watchlist."

Alex Sekella, Smart Money Gains (6/20/19) "Defense Metals Corp. has a proven asset base, large resource and major exploration program already underway. This stock's small $3.8M market capitalization has the potential to skyrocket. . .the growth potential in rare earths in North America can lead to profits for investors looking to take advantage of the macroeconomic effects of the trade war."

	Peter Epstein, Epstein Research (5/28/19) "Defense Metals Corp.'s Wicheeda could be in small-scale commercial production relatively quickly if the metallurgy is as good as management believes it might be. . .the reports and data from SGS should convey a tremendous amount of information about the potential feasibility of a mining operation. It's exciting times for rare earth elements and light rare earth elements juniors, especially so for this company's shareholders."

	Rick Mills, Ahead of the Herd (5/24/19) "Shareholders of Defense Metals Corp. can expect significant news flow starting soon. Metallurgical testing of the 30 ton bulk sample continues, and the company is planning on a massive drill program for 2019, leading to a 43-101 compliant resource estimate this fall."

Rick Mills, Ahead of the Herd (5/11/19) "The first assay results of the bulk sample program at Defense Metal Corp.'s Wicheeda project have been released. . .they're spectacular. A 30-ton random sample taken from the deposit revealed the presence of four defense and clean energy (magnet/lithium ion battery) rare earth elements: cerium, lanthanum, neodymium and praseodymium."

Experts Following This Company

	Byron King, Editor – Agora Financial
	Thibaut Lepouttre, Editor – Caesars Report
Clive Maund – CliveMaund.com
	Bob Moriarty, Author – 321 Gold
Erik Wetterling – The Hedgeless Horseman

Company News

4/12/2021 – Defense Metals Prepares Additional High-Grade Rare Earth Element Concentrate Samples For Evaluation By Leading Global Rare Earths Producers

3/30/2021 – Defense Metals Retains SRK Consulting (Canada) Inc. to Complete Wicheeda Rare Earth Element Project Economic Scenario Analysis

3/23/2021 – Defense Metals Prepares High-Grade Rare Earth Element Concentrate Samples For Shipment to Multiple Potential Offtake Partners

3/17/2021 – Defense Metals Invited By U.S. Embassy, Ottawa to Attend 2021 SelectUSA Investment Summit As a Canadian Delegation Member

3/9/2021 – Defense Metals X-Ray Transmission Amenability Study Demonstrates Potential For Sensor Based Upgrading Of Wicheeda Rare Earth Element Feed

3/1/2021 – Defense Metals Pre-Pilot Hydrometallurgy Achieves High Impurity Removal With Minimal Rare Earth Element Losses From Wicheeda Flotation Concentrate

2/22/2021 – Defense Metals Completes Quarterly Baseline Environmental Monitoring Work At Its Wicheeda Rare Earth Element Carbonatite Deposit

2/16/2021 – Defense Metals Pre-Pilot Hydrometallurgy Testing Yields 97.3% Rare Earth Element Extraction From Wicheeda Flotation Concentrate

2/11/2021 – Defense Metals Engages Welsbach Holdings Pte. Ltd. to Advance the Wicheeda Rare Earth Elements Project

2/8/2021 – Defense Metals Comments on Recent Canadian-US Government Electric Vehicle and Critical Minerals Collaboration Plans

2/1/2021 – Defense Metals Receives Wicheeda REE Property LiDaR Survey Results

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Investing Highlights

	Diversified Approach (Rare Earth and Uranium ) Extensive Local Infrastructure
	Strong Executive Team and Board/ Advisory, Implementing Focused Strategy
	Proven and Renowned Asset Base, Large Resource Growth Opportunity

catalyst Calendar

Q2 2019	SGS completion of Wicheeda bulk sample metallurgy phase 1
Q2 2019	DEFN initiates a Wicheeda deposit drilling program
Q3 2019	SGS completion of Wicheeda pilot plant metallurgy phases 2 & 3