Defense Metals Drills 4.43% Light Rare Earth Oxide Over 83 Metres the Highest Grade Drill Intercept to Date at Wicheeda Rare Earth Element Deposit

Defense Metals Corporation

Defense Metals Drills 4.43% Light Rare Earth Oxide Over 83 Metres the Highest Grade Drill Intercept to Date at Wicheeda Rare Earth Element Deposit

Vancouver, British Columbia — November 27, 2019 Defense Metals Corp. (“Defense Metals”) (DEFN: TSX-V / DFMTF: OTCQB / 35D: FSE) announces assay results for drill hole WI19-31 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 WI19-31 (-55o dip / 275o azimuth) was drilled to test the northern extension of the Wicheeda REE Deposit and returned 4.43% Light Rare Earth Oxide (LREO; being cerium, lanthanum, neodymium, praseodymium, and samarium oxides (Ce2O3+La2O3+Nd2O3+ Pr2O3+Sm2O3over a drill core interval of 83 metres; including an interval assaying 5.47% LREO over a drill core interval of 33 metres (Table 1). 

Drill hole WI19-31 occurs to the north of the 2019 Wicheeda Mineral Resource Estimate, but within the constraining 2019 Lerchs-Grossman (LG) pit shell2 (Figure 1). Unfortunately WI19-31 was terminated in mineralization at a downhole depth of 138.5 metres due to poor ground conditions and loss of circulation. Assays for additional drill holes (WI19-30 and WI19-32) targeting this area are pending.  

Craig Taylor, CEO and President of Defense Metals Corp., commented, “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.  Defense Metals plans to complete additional drilling of the relatively untested northern zone of the Wicheeda REE Deposit during 2020.”

The 2019 Wicheeda REE Deposit resource definition drill program comprised 13 diamond drill holes totalling 2,005 metres that were completed from three separate drill pads, designed to test the northern, southern and western extent of the Wicheeda 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 4 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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