DEFENSE METALS PROVIDES WICHEEDA RARE EARTH ELEMENT DRILL UPDATE

Vancouver, British Columbia — September 3, 2019 Defense Metals Corp. (“Defense Metals”) (DEFN: TSX-V / DFMTF: OTCQB / 35D: FSE) is pleased to provide an operational update regarding the current resource definition diamond drill program at its 1,708 hectare (4,220 acre) Wicheeda Rare Earth Element (REE) Project located near Prince George, Canada.

Subsequent to announcing the 2019 Wicheeda drill program (see the Defense Metals’ August 12, 2019 New Release), camp construction and site preparation for all planned diamond drill locations was completed. Core drilling started at the location of the Wicheeda 30 tonne bulk sample site, which previously returned composite head assays of 1.77% lanthanum-oxide, 2.34% cerium-oxide, 0.52% neodymium-oxide, and 0.18% praseodymium-oxide, for a total of 4.81% light rare-earth oxide (“LREO”; see Defense Metals’ March 14, 2019 News Release).

To date, eight of a planned thirteen NQ-sized core drill holes totalling 1,165 metres have been completed; an average of approximately 2.5 days-per-hole, progress that Defense Metalsconsiders excellent.  All holes drilled to date have intersected significant widths of dolomite-carbonate containing visible REE mineralization.  

Defense Metals continues to advance its geologic understanding of the Wicheeda Deposit. A detailed review of historical and current drill core indicates the presence of multiple phases of REE mineralized dolomite-carbonatite; one of which contains a visually higher percentage of REE-bearing minerals. Subject to completion of the remaining drilling and receipt of final assays results, Defense Metalswill evaluate the impact of these previously unrecognized REE mineralized domains and their potential positive contribution to the Wicheeda Deposit mineral resource estimate.

Craig Taylor, CEO and President of Defense Metals Corp., commented: “We have intersected REE mineralization within every drill hole of the current drill program. Our 2019 resource definition drilling will allow for an updated and enhanced geological model that Defense Metals believes will substantially increase our confidence in the contained REE mineral resources of the Wicheeda Rare Earth Deposit.”

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda Rare Earth Element Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. 

About Defense Metals Corp.

Defense Metals 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, light weight, rare earth magnets. Defense Metals’ primary focus is to exercise its option to acquire 100% of the 1,780 hectare Wicheeda Rare Earth Element Project. Defense Metals Corp. trades in Canada under “DEFN” on the TSX Venture Exchange, the United States, under “DFMTF” on the OTCQB and the German, Frankfurt Exchange under the symbol of “35D”.

For further information, please visit https://defensemetals.com/  or contact:

Todd Hanas, Bluesky Corporate Communications Ltd. 

Vice President, Investor Relations 

Tel: (778) 994 8072

Email: todd@blueskycorp.ca 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward Looking Information  

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, Defense Metal’s plans for its properties/projects, the ongoing and future drilling at the Wicheeda Project, drill results, other statements relating to the technical, financial and business prospects of Defense Metals, and other matters. 

Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of Defense Metals to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Defense Metals will operate in the future, including the price of metals and elements, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct Defense Metals’ planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of Defense Metals, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. 

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that Defense Metals may lose or abandon its property interests or may fail to receive necessary licences and permits;  (vi) that environmental laws and regulations may become more onerous;  (vii) that Defense Metals may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with Defense Metals’ expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon Defense Metals’ history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social licence”), including local First Nations; (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of Defense Metals’ projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to Defense Metals’ prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.

Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and Defense Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. 

DEFENSE METALS ENGAGES ALEX W. KNOX AS TECHNICAL ADVISOR

Vancouver, British Columbia, Canada, August 19, 2019 – Defense Metals Corp. (“Defense Metals” or the “Company”) (DEFN: TSX-V / DFMTF: OTCQB / 35D: FSE) is pleased to announce that Mr. Alex W. Knox has agreed to consult for Defense Metals as a technical advisor to its Wicheeda Rare Earth Element (“REE”) Project located 80 kilometres (50 miles) northeast of the city of Prince George, British Columbia. 

Mr. Knox has worked in the exploration and development of carbonatite and REE deposits since 1984, first with Molycorp Inc., at the time the owner of the producing Mountain Pass, California, light REE mine, and later as an independent consultant for various public and private companies and projects throughout North America. Mr. Knox was part of the team that discovered the Kipawa heavy-enriched REE deposit in southwest Quebec, as well as the Ashram light-enriched REE deposit in northern Quebec. He has extensive experience in carbonatite/REE geological environments and has also worked on the Oka carbonatite complex near Montreal and the Prairie Lake carbonatite in northwestern Ontario, among others.

His duties as technical advisor to Defense Metals will include site visits during the current drill program (see Defense Metals news release dated August 12, 2019), reviewing existing drill core from previous drill programs and new drill core generated from the current diamond drill program. Mr. Knox will also provide his extensive carbonatite-hosted REE deposit expertise to assist Defense Metals in the development of a detailed geologic model for the Wicheeda REE deposit.

Craig Taylor, CEO of Defense Metals, stated; “We are extremely pleased to have Mr. Knox agree to come on board as technical advisor with respect to the Wicheeda REE Project.  Defense Metals looks forward to leveraging Mr. Knox’ significant REE experience to advance its geologic understanding of the Wicheeda REE deposit”.

About Defense Metals 

Defense Metals is a mineral exploration company focused on the acquisition ofmineral 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, light weight, rare earth magnets. Defense Metals primary focus is to exercise its option to acquire 100% of the 1,780 hectare Wicheeda REE Project. Defense Metals Corp. trades in Canada under “DEFN” on the TSX Venture Exchange, The United States, under “DFMTF” on the OTCQB and the German, Frankfurt Exchange under the symbol of “35D”.

For further information, please visit https://defensemetals.com/ or contact:

Todd Hanas, Bluesky Corporate Communications Ltd. 

Vice President, Investor Relations 

Tel: (778) 994 8072

Email: todd@blueskycorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward Looking Information  

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, statements that address the development of a geological model of the Wicheeda REE deposit, drilling on the Wicheeda REE Project, comments regarding the timing and content of current and upcoming work programs, the technical advisor’s relationship and work with the Company and on its projects, and other statements relating to the business and technical prospects of the Company. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits;  (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) risks related to environmental regulation and liability; (xiii) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social licence”), including local First Nations; (xiv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company’s projects; (xv) risks related to the outcome of legal actions; (xvi) political and regulatory risks associated with mining and exploration; (xvii) and risks related to current global financial conditions. These risks, as well as others, could cause actual results and events to vary significantly. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, volatility in metals prices, adverse weather conditions, equipment failures, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. 

DEFENSE METALS STARTS WICHEEDA RARE EARTH ELEMENT DRILL PROGRAM

Vancouver, British Columbia — August 12, 2019 Defense Metals Corp.(“Defense Metals”) (DEFN: TSX-V / DFMTF: OTCQB / 35D: FSE) announces the start of the 2019 diamond drill programat its 1,780 hectare (4,398 acre) Wicheeda Rare Earth Element (REE) Project located near Prince George, Canada.

Defense Metals expects to complete this 2,000 metre core drilling program in about six weeks.The purpose of the 2019 Wicheeda drill program is to further delineate, and potentially expand the Wicheeda REE carbonatite deposit leading to completion of an updated mineral resource estimate.  

The current 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 Company’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.

The Wicheeda REE Deposit, as defined by previous drill campaigns, comprises an approximately 250 x 200 metre irregular shaped intrusive plug of relatively higher-grade REE-mineralized dolomite carbonatite extending from surface to vertical depths ranging from 30 to 100 metres, below which mixed dolomite carbonate and syenite breccia rocks occur to a currently drilled maximum vertical depth of 184 metres.

  • The 2019 drilling program is designed to: test the northern, southern and western extent of the Wicheeda deposit where it is still open; further delineate the relatively higher-grade near surface dolomite carbonatite unit; and address select internal drilling gaps within the deposit.
  • The diamond drill rig is currently setup within the southwest quadrant of the deposit where west and southwest oriented inclined drill holes should define the western limits of REE mineralization previously intersected within 2008 drill hole WI08-04 that returned 98.16 metres averaging 1.56% Ce (cerium), 0.72% La (lanthanum), and 0.26% Nd (neodymium) (2.54% LREE) from surface*.
  • Drilling will then proceed eastward approximately 75m higher in elevation where a series of inclined drill holes should define near surface higher-grade dolomite carbonatite rocks and the southern margin of the deposit; where 2009 drill hole WI09-07 returned 105 metres averaging 1.50% Ce, 0.63% La, and 0.30% Nd (2.43% LREE) from surface*.
  • Drilling at the northern end of the Wicheeda Deposit is designed to define the northern limit of the carbonatite where recently completed geologic mapping has confirmed the presence of carbonatite outcrops 30 metres beyond the northern limit of the current Mineral Resource Estimate block model. Nearby drill holesWI09-10 and WI09-13 completed in this area terminated within REE-mineralized dolomite carbonatite and carbonatite breccia rocks thatreturned 145.69 metres having grades averaging 1.08% Ce, 0.56% La, and 0.23% Nd (1.87% LREE), and 145.69 metres averaging 1.01% Ce, 0.51% La, and 0.24% Nd (1.8% LREE), respectively both from surface*.

*The relationship between drill intercept and true width of mineralization is not known

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda Rare Earth Element Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects

About Defense Metals Corp.

Defense Metals 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, light weight, rare earth magnets. Defense Metals’ primary focus is to exercise its option to acquire 100% of the 1,780 hectare Wicheeda Rare Earth Element Project. Defense Metals Corp. trades in Canada under “DEFN” on the TSX Venture Exchange, the United States, under “DFMTF” on the OTCQB and the German, Frankfurt Exchange under the symbol of “35D”.

For further information, please visit https://defensemetals.com/ or contact:

Todd Hanas, Bluesky Corporate Communications Ltd. 

Vice President, Investor Relations 

Tel: (778) 994 8072

Email: todd@blueskycorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward Looking Information  

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, Defense Metal’s plans for its properties/projects, upcoming drill program, potentially expanding the deposit, other statements relating to the technical, financial and business prospects of Defense Metals, and other matters. 

Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals and elements, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. 

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits;  (vi) that environmental laws and regulations may become more onerous;  (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company’s history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social licence”), including local First Nations; (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company’s projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company’s prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.

Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. 

DEFENSE METALS ENGAGES APEX GEOSCIENCE LTD. TO MANAGE DRILL PROGRAM AT WICHEEDA RARE EARTH ELEMENT PROJECT

Vancouver, British Columbia, Canada, Aug 6, 2019 – Defense Metals Corp. (“DefenseMetals”) (DEFN: TSX-V / DFMTF: OTCQB / 35D: FSE) is pleased to announce that it has engaged APEX Geoscience Ltd. (“APEX”) to manage its previously announced (see the Company’s May 6, 2019 and August 1, 2019 News Releases) 2019 Wicheeda Rare Earth Element (REE) Property diamond drill program. APEX is a leading minerals sector geological consulting services firm. Kris Raffle, P.Geo., Principal and Consultant of APEX will oversee Defense Metals’ exploration programs.

APEX is a privately-owned, independent geological consulting company that provides high quality, cost effective and timely geological consulting services to exploration companies, government, and non-government organizations. APEX has experience in all aspects of the mineral exploration industry from initial assessment and NI 43-101 reporting through to mining including the identification and outlining of resources. They specialize in managing large mine site and exploration databases, digital capture of historic datasets, and combining rigorous geostatistical analysis with modern geological, geochemical, and drill datasets to create concise 3D models that result in discovery and expansion of resources.

About Defense Metals Corp.

Defense Metals is a mineral exploration company focused on the acquisition ofmineral deposits containing metals and elementscommonly used in the electric power market, military, national security and the production of green energy technologies, such as, high strength, light weight, rare earth magnets. Defense Metals’ primary focus is to exercise its option to acquire 100% of the 1,780 hectare Wicheeda Rare Earth Element Project. Defense Metals Corp. trades in Canada under “DEFN” on the TSX Venture Exchange, the United States, under “DFMTF” on the OTCQB and the German, Frankfurt Exchange under the symbol of “35D”.

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosurefor Mineral Projects

For further information, please visit https://defensemetals.com/ or contact:

Todd Hanas, Bluesky Corporate Communications Ltd. 

Vice President, Investor Relations 

Tel: (778) 994 8072

Email: todd@blueskycorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward Looking Information  

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, Defense Metal’s plans for its properties/projects, upcoming drill program, other statements relating to the technical, financial and business prospects of Defense Metals, and other matters. 

Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals and elements, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. 

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits;  (vi) that environmental laws and regulations may become more onerous;  (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company’s history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social licence”), including local First Nations; (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company’s projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company’s prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.

Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. 

DEFENSE METALS ENGAGES FALCON DRILLING FOR DRILL PROGRAM AT WICHEEDA RARE EARTH ELEMENT PROJECT

Vancouver, British Columbia, Canada, Aug 1, 2019 – Defense Metals Corp. (“Defense Metals”) (DEFN: TSX-V / DFMTF: OTCQB / 35D: FSE) is pleased to announce that it has engaged Falcon Drilling Ltd. for a planned 2,000 metre surface core drill program at its Wicheeda Rare Earth Element (“REE”) Property located 80 kilometres (50 miles) northeast of the city of Prince George, British Columbia. The 2019 drilling and camp operations are fully permitted for up to 51 separate drill sites (See the Defense Metals May 6, 2019 news release).

Drill pads and a work camp are currently being prepared and drilling is expected to commence in early August. The purpose of the 2019 Wicheeda drill program is to further delineate, and potentially expand the Wicheeda REE carbonatite deposit leading to completion of an updated mineral resource estimate. Core drilling will: test the northern, southern and western extent of the Wicheeda deposit where it is still open; further delineate the relatively higher-grade near surface dolomite carbonatite unit; and address select internal drilling gaps within the deposit. Defense Metals expects to complete this work program in approximately six weeks.

About Falcon Drilling Ltd.

Falcon Drilling Ltd., of Prince George, British Columbia, provides drill equipment and highly trained drill crews, rapid access to supplies, and mobilization services to the most remote of locations. They have specifically designed and manufactured helicopter transportable diamond drill rigs that permit fast efficient moves between drill sites with minimal environmental disturbance and site remediation costs.

About Defense Metals Corporation


Defense Metals 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, light weight, rare earth magnets. Defense Metals primary focus is to exercise its option to acquire 100% of the 1,780 hectare Wicheeda Rare Earth Element Project. Defense Metals Corp. trades in Canada under “DEFN” on the TSX Venture Exchange, The United States, under “DFMTF” on the OTCQB and the German, Frankfurt Exchange under the symbol of “35D”.


Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

For further information, please visit https://defensemetals.com/ or contact:
Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Email: todd@blueskycorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward Looking Information
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, Defense Metal’s plans for its properties/projects, upcoming drill program, other statements relating to the technical, financial and business prospects of Defense Metals, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals and elements, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company’s history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social licence”), including local First Nations; (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company’s projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company’s prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.
Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Defense Metals Receives Positive Metallurgical Test Results for Wicheeda Rare Earth Element Property

Vancouver, British Columbia – June 20th, 2019: Defense Metals Corp. (“Defense Metals”) (TSX-V:DEFN / OTCQB:DFMTF / FSE:35D) is pleased to announce that it has received successful metallurgical test results for the Wicheeda Rare Earth Element Property from SGS Canada Inc. (“SGS”). Results from the initial 21 of a planned 25 batch flotation tests completed to date during 2019 showed progressive improvement from early to late stage testing, culminating in test F21 that achieved:

  • 80% recovery of cerium, lanthanum, and neodymium oxides (Ce2O3+La2O3+Nd2O3)
  • 44% rare earth oxide (REO) concentrate grade
  • 9.5 times upgrading ratio from head grade
  • 8.4% concentrate mass yield

While additional test work is required to replicate the F21 test results, based on publicly-available research authored by SGS staff 1 and Defense Metals’ discussions with experts in the REE industry, the flotation response of the Wicheeda material is considered among the best in its class with relatively high upgrading ratios in comparison with other REE projects. The mass yield to the concentrate is also considered attractive for its potential to reduce acid consumption during the subsequent hydrometallurgical extraction stage. Reduced acid consumption has the potential to positively impact future economic studies for the Wicheeda REE Project by contributing to reduced operating and/or capital costs. It is important to note that the current 2019 bulk sample batch flotation results are representative of the 30 tonne dolomite carbonatite surface bulk sample collected from the Wicheeda REE Deposit (see Defense Metals’ March 14, 2019 News Release). Although the 2019 results are not necessarily representative of potential flotation performance of the deposit as a whole, the current batch flotation test results are in agreement with the 2011 flotation test work, also conducted by SGS, on a composite 2009 drill core sample obtained from seven (7) separate drill holes throughout the deposit.     

The 2019 SGS flotation test work is establishing a base-case by confirming the reproducibility of previous 2011 metallurgical test work, followed by process flowsheet optimization through researching the effects of various reagent combinations; in addition to varying grind size, flotation pulp temperature, pH, and the possibility of gravity separation. An examination of Ce2O3 batch flotation test results to date reveals a progressive improvement of both rare earth oxide (REO) grade and overall REO recovery from base-case F1 to the current best test F21 (Figure 1).


  1. Verbaan, N., Bradley, K., Brown, N., and Mackie, S., 2015 A review of hydrometallurgical flowsheets considered in current REE projects. In: Simandl G.J. and Neetz, M. (Eds.). Symposium on Strategic and Critical Materials Proceedings. November 13-14, 2015, Victoria, British Columbia Ministry of Energy and Mines, British Columbia Geological Survey Paper 2015-3, pp. 147-162

The 2011 base-case returned projected “trajectory mass balance” REO recoveries for cerium, lanthanum, and neodymium of 83% at a grade of 42% REO (see Defense Metals’ January 8, 2019 News Release) based on combined locked cycle concentrate recoveries of 62% at a grade of 45% REO.  

Craig Taylor, CEO of Defense Metals, stated; “We are extremely pleased with the Wicheeda batch flotation test results to date. With 80% recoveries at a rare earth oxide concentrate grade of 44%, this places our Wicheeda bulk sample metallurgical testing at the high-end of publicly reported concentrate grades and upgrading ratios for alkaline and carbonatite rock REE deposits1. Defense Metals looks forward to the completion of additional batch flotation tests and locked cycle flotation testing to establish a finalized process flowsheet”.

About the Wicheeda REE Property

The 1,780 hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is nearby to infrastructure, including power transmission lines, the CN railway and major highways.

Geologically, the property is situated in the Foreland Belt and within the Rocky Mountain Trench, a major continental geologic feature.  The Foreland Belt contains part of a large alkaline igneous province, stretching from the Canadian Cordillera to the southwestern United States, which includes several carbonatite and alkaline intrusive complexes hosting the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) deposits.

The Wicheeda REE Property is underlain by Kechika Group metasedimentary rocks that are intruded by the southeast-trending Wicheeda carbonatite; a deformed plug or sill approximately 250 metres in diameter that hosts significant REE mineralization. This intrusion comprises a ferroan dolomite carbonatite core, which passes gradationally outward into calcite carbonatite. The REE mineralization is primarily hosted by the dolomitic carbonatite.

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.  

Methodology and QA/QC

Batch flotation head grade and concentrate products for lanthanum and neodymium oxides were determined by whole rock analysis, via lithium-borate fusion of a 0.5 gram sample analyzed via wavelength dispersion X-ray fluorescence (WD-XRF). The remaining rare earth elements were determined via 0.5 gram sodium-peroxide fusion multi-element ICP-MS.

The SGS analysis included a quality assurance / quality control (QA/QC) program including the insertion of rare earth element standard and blank samples. Defense Metals detected no significant QA/QC issues during review of the data. SGS Minerals Lakefield is an ISO/IEC 17025 and ISO9001:2015 accredited. SGS is independent of Defense Metals Corp.

About Defense Metals Corp.

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 1,780 hectare Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

For further information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.

Vice President, Investor Relations

Tel: (778) 994 8072

Email: todd@blueskycorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward Looking Information

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, Defense Metals plans for its properties / projects, metallurgical testing and results, other statements relating to the technical, financial and business prospects of Defense Metals, and other matters.

Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of Defense Metals to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Defense Metals will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct Defense Metals planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of Defense Metals, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold, copper, uranium, rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that Defense Metals may lose or abandon its property interests or may fail to receive necessary licences and permits;  (vi) that environmental laws and regulations may become more onerous; (vii) that Defense Metals may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with Defense Metals expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon Defense Metals history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social licence”), including local First Nations; (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of Defense Metals projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to Defense Metals prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.

Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and Defense Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

DEFENSE METALS CORP. ANNOUNCES OVER-SUBSCRIBED PRIVATE PLACEMENT

Vancouver, British Columbia – June 14, 2019: Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V: DEFN/ DFMTF: OTCQB / 35D: FSE) is pleased to announce that further to its news release on May 29, 2019, it has closed an over-subscribed non-brokered private placement of 3,763,333 units (each a “Unit”) for gross proceeds of $564,500 (the “Private Placement”). As previously disclosed, each Unit was priced at $0.15 and is comprised of one common share and one common share purchase warrant (“Warrant”). Each Warrant is exercisable to purchase one common share of the Company at a price of $0.30 per share for a period of 12 months from the date of closing the Private Placement.

The Company also announces that it has closed an over-subscribed non-brokered private placement of 2,662,500 flow-through common shares (“FT Shares”) at a price of $0.20 per FT Share for gross proceeds of $532,500 (the “FT Private Placement”).

The Company paid cash finder’s fees of $30,030 and issued 168,699 non-transferable finder warrants to eligible finders on a portion of the private placements. The finder warrants otherwise have the same terms as the Warrants.

One director of the Company participated in the Private Placement and the FT Private Placement. Participation of an insider of the Company in the private placements constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). Because the Company’s shares trade only on the TSX Venture Exchange (“TSXV”), the issuance of securities is exempt from the formal valuation requirements of section 5.4 of MI 61-101 pursuant to subsection 5.5(b) of MI 61-101 and exempt from the minority approval requirements of section 5.6 of MI 61-101 pursuant to subsection 5.7(b) of MI 61-101.

All securities issued pursuant to the private placements are subject to a four month hold period from the closing date in accordance with applicable securities laws.

The proceeds from these private placements will be used for exploration on the Company’s Wicheeda rare earth element project located in Prince George, British Columbia and for general working capital purposes.

About the Wicheeda Property

The Wicheeda 1,780 hectare Property, is located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is nearby to infrastructure, including power transmission lines, the CN railway and major highways. Geologically, the property is situated in the Foreland Belt and within the Rocky Mountain Trench, a major continental geologic feature. The Foreland Belt contains part of a large alkaline igneous province, stretching from the Canadian Cordillera to the southwestern United States, which includes several carbonatite and alkaline intrusive complexes hosting the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) deposits. The Wicheeda Property is underlain by Kechika Group metasedimentary rocks that are intruded by the southeast-trending Wicheeda carbonatite; a deformed plug or sill approximately 250 metres in diameter that hosts significant REE mineralization. This

intrusion comprises a ferroan dolomite carbonatite core, which passes gradationally outward into calcite carbonatite.

About the Company

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. The Company is (i) working on and has an option to acquire 100% of the 1,780 Hectare Wicheeda Rare Earth Element Project located in Prince George, British Columbia, Canada, (ii) owns a 100% interest in prospective uranium claims in the N.E. section of the prolific Athabasca Basin, Saskatchewan and (iii) has an option to acquire 100% of the Lac Burge gold property located northeast of Val d’Or, Quebec. Defense Metals Corp. trades in Canada under “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany, Frankfurt Exchange under the symbol of “35D”.

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Contact Information – For more information, please contact: Todd Hanas, Bluesky Corporate Communications Ltd. Vice President, Investor Relations Tel: (778) 994 8072 Email: todd@blueskycorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Cautionary Statement Regarding Forward Looking Information

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s plans for its properties/projects, the use of funds from the private placements, other statements relating to the technical, financial and business prospects of the Company, and other matters.

Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is

expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold, copper, uranium, rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company’s history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social licence”), including local First Nations; (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company’s projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company’s prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.

Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

DEFENSE METALS CORP. ANNOUNCES PRIVATE PLACEMENT AND GRANTS STOCK OPTIONS

Vancouver, British Columbia – May 29, 2019:Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V: DEFN/ DFMTF: OTCQB / 35D: FSE)is pleased to announce that it intends to complete a non-brokered private placement of up to 3,333,334 units (each a “Unit”) at a price of $0.15 per Unit for gross proceeds of up to $500,000. Each Unit will be comprised of one common share and one common share purchase warrant (each a “Warrant”). Each Warrant is exercisable to purchase one common share of the Company at a price of $0.30 per share for a period of 12 months from the date of closing of the private placement. 

The Company also announces that it intends to complete a non-brokered private placement of up to 2,500,000 flow-through common shares (“FT Shares”) at a price of $0.20 per FT Share for gross proceeds of up to $500,000. 

The private placements are subject to TSX Venture Exchange approval and all securities are subject to a four month hold period. Finder’s fees will be payable in connection with the private placements, all in accordance with the policies of the TSX Venture Exchange and applicable securities laws. 

The proceeds from these private placements will be used for exploration on the Company’s Wicheeda rare earth element project located in Prince George, British Columbia and for general working capital purposes. 

The Company also announces the granting of incentive stock options (“Options”) to certain of its directors, officers and consultants to purchase up to an aggregate 400,000 common shares of the Company at a price of $0.20 per common share for a period of five (5) years, subject to regulatory and TSX Venture Exchange approval. 100,000 Options granted to Bluesky Corporate Communications Ltd. will vest in stages over a period of 12 months in equal potions every three months starting on the date of grant. The remaining Options vest on the date of grant.

About the Wicheeda Property

The Wicheeda 1,780 Hectare Property, is located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is nearby to infrastructure, including power transmission lines, the CN railway and major highways. Geologically, the property is situated in the Foreland Belt and within the Rocky Mountain Trench, a major continental geologic feature. The Foreland Belt contains part of a large alkaline igneous province, stretching from the Canadian Cordillera to the southwestern United States, which includes several carbonatite and alkaline intrusive complexes hosting the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) deposits. The Wicheeda Property is underlain by Kechika Group metasedimentary rocks that are intruded by the southeast-trending Wicheeda carbonatite; a deformed plug or sill approximately 250 metres in diameter that hosts significant REE mineralization. This intrusion comprises a ferroan dolomite carbonatite core, which passes gradationally outward into calcite carbonatite.

About the Company

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. The Company is (i) working on and has an option to acquire 100% of the 1,780 Hectare Wicheeda Rare Earth Element Project located in Prince George, British Columbia, Canada, (ii) owns a 100% interest in prospective uranium claims in the N.E. section of the prolific Athabasca Basin, Saskatchewan and (iii) has an option to acquire 100% of the Lac Burge gold property located northeast of Val d’Or, Quebec. Defense Metals Corp. trades in Canada under “DEFN” on the TSX VentureExchange, the United States, under “DFMTF” on the OTCQB and Germany, Frankfurt Exchangeunder the symbol of “35D”.

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosurefor Mineral Projects.  

Contact Information– For more information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd. 

Vice President, Investor Relations 

Tel: (778) 994 8072

Email: todd@blueskycorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Cautionary Statement Regarding Forward Looking Information 

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s plans for its properties/projects, the private placements and use of funds, other statements relating to the technical, financial and business prospects of the Company, and other matters. 

Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. 

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold, copper, uranium, rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits;  (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company’s history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as “social licence”), including local First Nations; (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company’s projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company’s prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly. 

Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. 

Defense Metals Receives 51 Drill Site / Five Year Exploration Permits, for Wicheeda Rare Earth Property

Vancouver, British Columbia – May 6th, 2019: Defense Metals Corp. (“Defense Metals”) (TSX-V:DEFN / OTCQB: DFMTF / FSE: 35D) is pleased to announce that it has received a Mineral Exploration Permit from the British Columbia Ministry of Energy, Mines and Petroleum Resources that allows for the establishment of up to 51 separate drill site locations at theWicheeda Rare Earth Element (“REE”) Property. Each individual drill pad site may be used for multiple diamond drill holes if warranted.

The Mineral Exploration Permit for the Wicheeda Property is valid until February 25, 2024 and during this period of about 5 years, Defense Metals plans to complete additional drilling, starting in the summer of 2019. The primary goal of this drill program will be to:

  • Further delineate the Wicheeda carbonatite intrusion that hosts important REE mineralization of the Wicheeda Deposit. This carbonatite body is currently open to the southeast, north, and west; where it is interpreted to be potentially down-dropped by faulting.
  •  Provide further REE-mineralized samples from depth for additional metallurgical testing to establish continuity of the process flow-sheet currently being determined by SGS Canada Inc. from the 30 tonne surface bulk sample collected in late 2018 (see Defense Metals news releases of March 13, February 25, January 23 and January 8, 2019); and
  • Explore the many identified soil geochemical REE and airborne radiometric anomalies that have not yet been drill tested, which may represent either extensions to, or additional targets separate from, the known Wicheeda Deposit.

Details of this program will be provided prior to the commencement of drilling.

Craig Taylor, CEO of Defense Metals, stated; “With the very encouraging initial results from our bulk sample testing, we look forward to drilling additional core holes to further delineate the Wicheeda REE Deposit, in addition to evaluating existing high-priority REE exploration targets within the Property.”

About the Wicheeda Property

The Wicheeda 1,780 Hectare Property, is located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is nearby to infrastructure, including power transmission lines, the CN railway and major highways.

Geologically, the property is situated in the Foreland Belt and within the Rocky Mountain Trench, a major continental geologic feature. The Foreland Belt contains part of a large alkaline igneous province, stretching from the Canadian Cordillera to the southwestern United States, which includes several carbonatite and alkaline intrusive complexes hosting the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) deposits.

The Wicheeda Property is underlain by Kechika Group metasedimentary rocks that are intruded by the southeast-trending Wicheeda carbonatite; a deformed plug or sill approximately 250 metres in diameter that hosts significant REE mineralization. This intrusion comprises a ferroan dolomite carbonatite core, which passes gradationally outward into calcite carbonatite. The REE mineralization is hosted by the dolomite carbonatite.

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a “Qualified Person” asdefined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About the Company

Defense Metals Corporation 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. The Company (i) Working on and has an option to acquire 100% of the 1,780 Hectare Wicheeda Rare Earth Element Project located in Prince George, British Columbia, Canada (ii) Owns a 100% interest in prospective uranium claims in the N.E. section of the prolific Athabasca Basin, Saskatchewan and (iii) Has an option to acquire 100% of the Lac Burge gold property located northeast ofVal d’Or, Quebec. Defense Metals Corp. trades in Canada under “DEFN” on the TSX VentureExchange, The United States, under “DFMTF” on the OTCQB and German, Frankfurt Exchangeunder the symbol of “35D”.

Contact Information

Todd Hanas, Bluesky Corporate Communications Ltd. Vice President, Investor Relations
Tel: (778) 994 8072
Email: todd@blueskycorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward Looking Information

This news release includes certain statements that constitute “forward-looking information” within the meaning ofapplicable securities law, including without limitation, DEFN’s plans for its properties/projects, exploration and drilling on the Wicheeda Property, bulk sample testing and results, metallurgical testing, other statements relating to the technical, financial and business prospects of DEFN, and other matters.

Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives,assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), andvariations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the

actual results, performances or achievements of DEFN to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which DEFN will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct DEFN’s planned exploration activities will be available on reasonable terms and in atimely manner. While such estimates and assumptions are considered reasonable by the management of DEFN, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold, copper, uranium, rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that DEFN may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that DEFN may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with DEFN’s expectations;(ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon DEFN’s history of losses; (xiii) risks related to environmental regulation andliability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generallyreferred to as “social licence”), including local First Nations; (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of DEFN’s projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to DEFN’s prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.

Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and DEFN disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Defense Metals Corp. announces OTCQB up-listing and DTC eligibility

VANCOUVER, May 2, 2019 /CNW/ – Defense Metals Corp. (the “Company“) (DEFN: TSX-V / DFMTF: OTCQB / 35D: FSE) is pleased to announce that it has obtained DTC eligibility by the Depository Trust Company (“DTC“) for electronic settlement and transfer of its common shares in the United States and will trade under the symbol“DFMTF” on the OTCQB. The Company’s common shares will continue to trade on the TSX Venture Exchange under the symbol “DEFN” and on the Frankfurt Exchange under the symbol of “35D”.

The Company is confident that trading on the OTCQB will add to its liquidity and continue to build a stronger investor base in the United States and abroad.

About the Company

Defense Metals Corporation. 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, light weight, rare earth magnets. The Company (i) Working on and has an option to acquire 100% of the 1,780 Hectare Wicheeda Rare Earth Element Project located in Prince George, British Columbia, Canada (ii) Owns a 100% interest in prospective uranium claims in the N.E. section of the prolific Athabasca Basin, Saskatchewan and (iii) Has an option to acquire 100% of the Lac Burge gold property located northeast of Val d’Or, Quebec. Defense Metals Corp. trades in Canada under “DEFN” on the TSX Venture Exchange, The United States, under “DFMTF” on the OTCQB and the German, Frankfurt Exchange under the symbol of “35D”.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward Looking Information

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s plans for its properties/projects, increasing liquidity of the common shares, other statements relating to the technical, financial and business prospects of the Company, and other matters.

Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, or the negative of any of these terms and similar expressions and similar expressions are not statements of historical fact and may be forward-looking statements. Forward- looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to

significant business, economic, competitive and regulatory uncertainties and risks. Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements. These risks, as well as others, could cause actual results and events to vary significantly. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward- looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

SOURCE Defense Metals Corp.
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For further information: Todd Hanas, Bluesky Corporate Communications Ltd., Vice President, Investor Relations, Tel: (778) 994 8072, Email: todd@blueskycorp.ca

CO: Defense Metals Corp. CNW 03:05e 02-MAY-19