Defense Metals Drills 4.21% Light Rare Earth Oxide Over 48 Metres and Extends Mineralized Zone at Wicheeda Rare Earth Element Deposit

Defense Metals Corporation

Defense Metals Drills 4.21% Light Rare Earth Oxide Over 48 Metres and Extends Mineralized Zone at Wicheeda Rare Earth Element Deposit

Vancouver, British Columbia — November 20, 2019 Defense Metals Corp. (“Defense Metals”) (DEFN: TSX-V / DFMTF: OTCQB / 35D: FSE) announces assay results for an additional three holes from the recently completed 2019 resource definition diamond drill program at its 1,708 hectare (4,220 acre) Wicheeda Rare Earth Element (REE) Project located near Prince George, Canada. 

Drill hole WI19-25 (-45o dip / 185o azimuth), drilled to define the southern margin of the Wicheeda REE Deposit returned two higher grade intervals; an upper zone that assayed 3.87% Light Rare Earth Oxide (LREO; being cerium, lanthanum, neodymium, praseodymium, and samarium oxides (Ce2O3+La2O3+Nd2O3+ Pr2O3+Sm2O3over a drill core interval of 24 metres, and a lower interval assaying 3.93% LREO over a drill core interval of 23 metres (Table 1). Both intervals occur within a broader REE mineralized interval that assayed 2.22% 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 Estimate2; 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 (-65o dip / 295o azimuth), collared from the same drill pad returned a single longer higher grade intercept assaying 4.21% LREO over a drill core interval of 48 metres1 within a broader zone of mineralization assaying 2.82% LREO over a core interval of 126 metres1. 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 (-45o dip / 010o azimuth), 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 metres1, 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, CEO and President of Defense Metals Corp., 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 5 drill holes within the coming weeks and will provide additional updates as they are received.

The true width of REE mineralization is estimated to be 70-100% of the drilled interval.

The Wicheeda REE Deposit Mineral Resource comprises an Inferred Mineral Resource of 11,370,000 tonnes averaging 1.96% LREE (Light Rare Earth Elements) reported at a cut-off grade of 1.0% LREE (sum of cerium, lanthanum, neodymium and samarium percentages). The resource is classified according to the CIM “Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines” dated November 23rd, 2003 and CIM “Definition Standards for Mineral Resources and Mineral Reserves” dated May 10th, 2014. Details with respect to the Mineral Resource Estimate are summarized in the Defense’s NI 43-101 technical report titled “Wicheeda Rare Earth Element Project, British Columbia, Canada” effective date of June 20, 2019 available on SEDAR at www.sedar.com.

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