WICHEEDA DEPOSIT 30 TONNE BULK SAMPLE RETURNS 4.81% LIGHT RARE EARTH OXIDE HEAD GRADE

Vancouver, British Columbia – March ___, 2019: Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V: DEFN/ DFMTF: OTCQB / 35D: FSE) is pleased to announce that SGS Canada Inc. (“SGS”) has provided initial composite head assay results for the 30 tonne bulk sample collected from its Wicheeda Property.

Select head assay results for the 30 tonne bulk sample include 1.77% lanthanum-oxide, 2.34% cerium-oxide, 0.52% neodymium-oxide, and 0.18% praseodymium-oxide which the Company considers potentially economically significant, for a total of 4.81% LREO (light rare-earth oxide) (see Figure 1 below).

Figure 1: Select Composite Head Assay Results for Wicheeda 30 Tonne Bulk Sample

The results confirm, in conjunction with previous metallurgical head grades returned from smaller drill core samples, the presence of significant praseodymium values.  Praseodymium values are only available for 4 of the 14 previous diamond drill holes that define the Wicheeda deposit. The Company considers the results to have potential economic significance to the advancement of the Wicheeda Property given recent indicative LREE oxide prices and their potential impact on Wicheeda, which has been historically viewed as a cerium-lanthanum-neodymium deposit (see Table 1 below).

Table 1: Light Rare Earth Oxide Prices*

Source: https://www.kitco.com/strategic-metals/

Accessed March 8, 2019, Prices are indicative and vary with lot volumes

Max Sali, CEO and Director of Defense Metals commented “We look forward to building on these positive initial results, which will form the basis from which to gauge the success of subsequent test phases including bench-scale flotation optimization and hydrometallurgical testing, which are preparatory to initiation of larger scale pilot plant testing on the full 30 tonne sample.”

The Company is confident that completion of laboratory and pilot plant metallurgical test programs on the bulk sample will significantly advance the understanding and development of the Wicheeda rare earth element deposit through larger scale pilot plant scale validation of process metallurgy, generation of design quality data for engineering, and the production of REE product samples for potential offtake partners.

Important Rare Earth Element Industrial and Technology Uses

Neodymium/ praseodymium is used to create high-power Neodymium-iron-boron (NdFeB) magnets. These magnets are a key technology in the Defense, Clean Energy, Consumer Electronics and Electric Vehicle sectors. The market for NdFeB magnets is estimated at $11.3 billion1; demand for neodymium has increased every year since 2015.

Common uses of neodymium-iron-boron (NdFeB) magnets include computer hard disk drives, wind turbine generators, speakers/ headphones, MRI scanners, cordless tool motors, and motors in hybrid and electric vehicles.

The US Military is an important buyer of permanent magnets. Stealth helicopters have neodymium magnets in their noise cancellation technology blades. Aircraft use them in their electric motors and actuators, as will the US Navy’s Zumwalt DDG 1000 guided military destroyer, hub-mounted electric traction drives and integrated starter generators. Aircraft electrical systems employ samarium (Sm)/ cobalt permanent magnets to generate power.

Neodymium is among a mix of rare earth elements found in the nickel metal hydride (NiMH) batteries of a range of plug-in electric and hybrid vehicles, including GM’s EV1, Honda EV Plus, the Ford Ranger EV and the Toyota Prius.

The anode of a NiMH cell is most commonly a mix of lanthanum, cerium, neodymium and praseodymium (Pr).

The only significant non-Chinese REE supplier is Australia’s Lynas Corp., which processes its REEs in Malaysia. North America has one mine, which ships its rare earths to China for processing.

1Soure:https://ca.reuters.com March 12, 2018, Tesla’s electric motor shift to spur demand for rare earth neodymium, accessed March 12, 2019

About SGS Canada Inc.

By incorporating an integrated approach, SGS delivers testing and expertise throughout the entire mining life cycle. With a network of over 450 commercial, multi-purpose and on-site laboratories globally, SGS is uniquely positioned to provide fit-for-purpose solutions and testing capabilities from early exploration to end-product certification and closure to the mining industry.  SGS’ services encompass the skills of qualified geologists and mining professionals to provide accurate and timely mineral evaluation and consulting services in a wide range of commodities including precious and base metals, rare earth element minerals, uranium and naturally occurring radioactive material, industrial minerals, iron ore and hydrocarbons.

About The Wicheeda Property

The property located approximately 80 km northwest of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is close to major infrastructure including nearby working power transmission lines, 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 and hosts several carbonatite and alkaline complexes among which are the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) alkaline complexes that contain the highest concentrations of Rare Earth Elements minerals.

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

Methodology and QA/QC

The 30 tonne Wicheeda deposit bulk sample was trucked to SGS Minerals Lakefield, ON facility.  Upon receipt at SGS the sample was inventoried (i.e. bag counts and gross weights), then placed in a containment area on a clean concrete pad. The entire sample was jaw crushed to nominal 1 inch, and homogenized/blended via backhoe. A 400 kg sample representative sample was then selected and further homogenized by tumbling and crushed to ½ inch. Half of the 400 kg sample was retained for future testing. The primary 200 kg sample was then crushed to 6 mesh (3.36 mm), homogenized and split into 10 kg charges.  Two of the 10 kg charges were combined and split into 2 kg charges, from one of which 150 g was pulverized to 80% passing 75 micron. Major element, and lanthanum and neodymium oxides, and loss on ignition (LOI) 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 standard, blank and duplicate 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.

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.  

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition, exploration and development of minerals, metals and elements commonly used in the protection of our nation and other nations abroad. Defense Metals Corp. trades under “DEFN” on the TSX Venture Exchange. The Company owns (i) a 100% interest in prospective uranium claims in the Athabasca Basin, Saskatchewan totalling approximately 9,362.65 hectares; (ii) has an option to acquire 100% of the Wicheeda Rare Earth Element Project located in Prince George, British Columbia; and (iii) has an option to acquire 100% of the Lac Burge gold property located approximately 215 km northeast of Val d’Or, Quebec.

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.

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, building a hydrometallurgical plant, 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. PROVIDES OPERATIONAL UPDATE

Vancouver, British Columbia – February 25, 2019: Defense Metals Corp. (“Defense Metals” or the“Company”) (TSX-V: DEFN / DFMTF: OTCQB / 35D: FSE) is pleased to announce that Phase 1A metallurgical testing on the Wicheeda bulk sample at SGS Labs is underway.

SGS Labs Phase 1A Timeline

Defense Metals Corp has been informed by SGS that the entire 30 tonne bulk sample has been crushed to a nominal 1 inch size and a 400 kg subsample has been taken for batch and grindability tests. Preparation is underway to prepare a grindability sample, flotation charges and head assays, which is expected to be completed early this week. The subsample from the head will be submitted for chemical and mineralogical analysis is also scheduled for early this week as well.

Chris Graf, Technical Advisor comments “Building on the successful bench scale flotation testwork conducted in 2012 by SGS on a 100 kg composite sample of Wicheeda drill core, the goal of the Phase 1A testwork is to develop a robust flow sheet for producing high grade REE flotation concentrates from a 200 kg sample of the 30 tonne Wicheeda REE deposit bulk sample. It is anticipated that 20 kg of REEconcentrate will be produced by Phase 1A.”

Following a successful Phase 1A, Phase 1B hydrometallugical testwork is to commence on the 20 kg sample of flotation concentrate once it has been produced, by the end of May. The goal of this hydrometallurgical testwork will be to produce a purified, mixed REE concentrate and provide data that can be used to design a hydrometallugical pilot plant.

The Phase 1A flow sheet will be used in a Phase 2 flotation concentrate pilot plant program where the entire 30 tonne Wicheeda bulk sample will be processed with the goal of demonstrating that the Phase 1 A flowsheet is capable of producing a high grade REE concentrate at an industrial scale. It is expected that the Phase 2 pilot plant metallurgical testwork will produce approximately 3 tonnes of REE concentrate that can be tested by a Phase 3 hydrometallurgical pilot plant.

About SGS Canada Inc.

By incorporating an integrated approach, SGS delivers testing and expertise throughout the entire mining life cycle. With a network of over 450 commercial, multi-purpose and on-site laboratories globally, SGS is uniquely positioned to provide fit-for-purpose solutions and testing capabilities from early exploration to end-product certification and closure to the mining industry. SGS’ services encompass the skills of qualified geologists and mining professionals to provide accurate and timely mineral evaluation and consulting services in a wide range of commodities including precious and base metals, rare earth element minerals, uranium and naturally occurring radioactive material, industrial minerals, iron ore and hydrocarbons. SGS Minerals Lakefield is an ISO/IEC 17025 and ISO9001:2015 accredited metallurgical testing facility. SGS is independent of Defense Metals Corp.

About The Wicheeda Property

The property located approximately 80 km northwest of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is close to major infrastructure including nearby working power transmission lines, 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 and hosts several carbonatite and alkaline complexes among which are the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) alkaline complexes that contain the highest concentrations of Rare Earth Elements minerals.

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

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.

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition, exploration and development of minerals, metals and elements commonly used in the protection of our nation and other nations abroad. Defense Metals Corp. trades under “DEFN” on the TSX Venture Exchange. The Company owns (i) a 100% interest in prospective uranium claims in the Athabasca Basin, Saskatchewan totalling approximately 9,362.65 hectares; (ii) has an option to acquire 100% of the Wicheeda Rare Earth Element Project located in Prince George, British Columbia; and (iii) has an option to acquire 100% of the Lac Burge gold property located approximately 215 km northeast of Val d’Or, Quebec.

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.

Forward Looking Information

This news release includes certain statements that constitute “forward-looking information” within the meaning ofapplicable securities law, including without limitation, the Company’s plans for its properties/projects, bulk sample testing and results, metallurgical testing, 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 andother 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’sexpectations; (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 geologicreports 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 thecontinued 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 globalfinancial conditions; and (xx) other risks and uncertainties related to the Company’s prospects, properties andbusiness 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. provides operational update, announces Dale Wallster to technical advisory board and grants stock options

VANCOUVER, Jan. 23, 2019 /CNW/ – Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V: DEFN) is pleased to announce that the Wicheeda Project’s bulk sample has arrived at SGS Labs in Peterborough, Ontario and has been offloaded and is to be prepped this week prior to initiation of the laboratory work.

SGS Canada Inc. (SGS) is to immediately begin Phase 1a of the planned work program which includes chemical and mineralogical characterization, grindability, and laboratory flotation testing on a 200 kg subsample. The objectives of this program are to validate the process and confirm that conditions of the previously established 2010/2011 bench scale drill core flotation test work can be upscaled and applied to the current bulk sample; in addition to further optimization of the process flowsheet. The ultimate goal of the Phase 1a test work is to finalize the process flowsheet prior to commissioning of larger scale pilot plant testing. SGS estimate that completion of the Phase 1a work will take 2.5 months and they will provide regular updates that the Company will provide to the market through each stage of this process.

Maximilian Sali, CEO and founder of Defence Metals Corp. comments “We are pleased with how rapidly things are moving with the Phase 1 work program beginning just 3 weeks after the completion of our fundamental acquisition in which Defense Metals has an option agreement with Spectrum Mining Corporation to acquire the Wicheeda Rare Earth project located near Prince George in British Columbia. We are also pleased to have Dale Wallster come on to our technical advisory board. Dale has had a tremendous track record of success. We look forward to updating the market with our progress and the completion of phase 1.”

About Dale Wallster

The Company also announces that it has appointed Dale Wallster to its technical advisory board. Dale Wallster is a geologist and prospector with 35 years’ experience in North American mineral deposit exploration, with a focus on the targeting and discovery of unconformity-related uranium deposits since 2002. He was president and founder of Roughrider Uranium Corp., a company acquired by Hathor Exploration Limited in 2006 for its strategically located uranium properties in the Athabasca Basin. Dale and his team are widely credited in the mineral exploration sector for the discovery of the Hathor’s Roughrider deposit. In January 2012, Hathor became a wholly-owned subsidiary of Rio Tinto as part of a CAD$650 million acquisition. Defense Metals will benefit greatly from Dale’s guidance on the technical advisory board.

About SGS Canada Inc.

By incorporating an integrated approach, SGS delivers testing and expertise throughout the entire mining life cycle. With a network of over 450 commercial, multi-purpose and on-site laboratories globally, SGS is uniquely positioned to provide fit-for-purpose solutions and testing capabilities from earlyexplorationtoend-productcertificationandclosuretotheminingindustry. SGS’services encompass the skills of qualified geologists and mining professionals to provide accurate and timely mineral evaluation and consulting services in a wide range of commodities including precious and base metals, rare earth element minerals, uranium and naturally occurring radioactive material, industrial minerals, iron ore and hydrocarbons. SGS Minerals Lakefield is an ISO/IEC 17025 and

ISO9001:2015 accredited metallurgical testing facility. SGS is independent of Defense Metals Corp.

Stock Options

The Company announces the granting of incentive stock options (“Options”) to certain of its directors, officers and consultants to purchase up to an aggregate 371,333 common shares of the Company at a price of $0.25 per common share for a period of five (5) years, subject to regulatory and TSX Venture Exchange approval. 75,000 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 property located approximately 80 km northwest of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is close to major infrastructure including nearby working power transmission lines, 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 and hosts several carbonatite and alkaline complexes among which are the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) alkaline complexes that contain the highest concentrations of Rare Earth Elements minerals.

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

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.

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition, exploration and development of minerals, metals and elements commonly used in the protection of our nation and other nations abroad. Defense Metals Corp. trades under “DEFN” on the TSX Venture Exchange. The Company owns (i) a 100% interest in prospective uranium claims in the Athabasca Basin, Saskatchewan totalling approximately 9,362.65 hectares; (ii) has an option to acquire 100% of the Wicheeda Rare Earth Element Project located in Prince George, British Columbia; and (iii) has an option to acquire 100% of the Lac Burge gold property located approximately 215 km northeast of Val d’Or, Quebec.

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, bulk sample testing and results, metallurgical testing, 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; * 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.

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 05:00e 23-JAN-19

DEFENSE METALS CORP. CLARIFIES TECHNICAL DISCLOSURE

Vancouver, British Columbia – January 18, 2019: Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V: DEFN) announces that, as a result of a review by the British Columbia Securities Commission (“BCSC”) of the Company’s Technical Report on its Wicheeda Property filed on December 24, 2018 (the “Report”), it is issuing a news release to clarify and retract certain disclosures.

The Company’s Report, as currently filed, does not comply with the requirements of National Instrument 43- 101 Standards of Disclosure for Mineral Projects (“NI 43-101”). Additionally, the mineral resources set out in the Report are not supported by a compliant NI 43-101 technical report and should not be relied upon until they can be supported by a compliant technical report.

The Company is in the process of amending the Report as soon as reasonably possible in order to address all non- compliant and non-current disclosure issues identified by the BCSC. Once an amended Report is available, the Company will provide an update to this news release and file the amended Report on SEDAR.

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition, exploration and development of minerals, metals and elements commonly used in the protection of our nation and other nations abroad. Defense Metals Corp. trades under “DEFN” on the TSX Venture Exchange. The Company owns (i) prospective uranium claims in the Athabasca Basin, Saskatchewan totalling approximately 9,362.65 hectares; (ii) has an option to acquire 100% of the Wicheeda Rare Earth Element Project located in Prince George, British Columbia; and (iii) has an option to acquire 100% of the Lac Burge gold property located approximately 215 km northeast of Val d’Or, Quebec.

Contact Information – For more information, please contact: Todd Hanas, Bluesky Corporate Communications Inc.
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, the Company’s plans for its properties/projects, the updated technical report, 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.

CLARIFICATION OF NEWS RELEASE DATED JANUARY 8, 2019, “DEFENSE METALS CORP. ANNOUNCES INITIAL MINERAL RESOURCE ESTIMATE FOR ITS WICHEEDA RARE EARTH CARBONATITE DEPOSIT, AND COLLECTION OF 30 TONNE SURFACE BULK SAMPLE”

Vancouver, British Columbia – January 8, 2019: Defense Metals Corp. (“Defense Metals” or the“Company”) (TSX-V: DEFN) announces that, as a result of a review by IIROC, the Company wishes to clarify certain disclosure in its above referenced news release dated January 8, 2019. Below is a restatement of that news release in its entirety, including the following clarifying disclosure: clearly identifies the inferred mineral resource; labels Table 1-1 as a sensitivity analysis; and retracts all references to the term “ore”.

The Company is pleased to announce completion of the Initial Inferred Mineral Resource Estimate and collection of a 30 tonne surface bulk sample with respect to the Wicheeda rare earth carbonatite deposit located approximately 80 km northeast of Prince George, north central BC.

The Mineral Resources 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, constrained by applying a conceptual a Lerchs Grossman (LG) pit shell, is provided in Table 1 below, which includes a sensitivity analysis a various higher cut-off grades. 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. Mineral Resources are summarized in Table 1-1 andthe Company’s technical report titled “Wicheeda Rare Earth Element Project, British Columbia, Canada” isavailable on SEDAR at www.sedar.com.

The Company is also pleased to announce the completion of a 30 tonne surface bulk sample from the Wicheeda Deposit. Defense Metals plans to truck the 30 tonne bulk sample to SGS Canada Inc.’s Lakefield, Ontario metallurgical facility during January 2019 in anticipation of a multi-phase program of bench-scale metallurgical testwork preparatory to commissioning larger scale flotation pilot plant testing.

Bench-scale flotation and hydrometallurgical test work was previously completed on Wicheeda drill cores at the SGS Lakefield lab during 2010/2011. This work successfully developed a flotation flow sheet that recovered 83% of the (Rare Earth Oxide) and produced a concentrate grading 42% REO. Subsequent hydrometallurgical testing in 2012 on a 2 kg sample of the concentrate grading 39.7 % TREO (Total REO) produced an upgraded and purified precipitate that contained 71% TREO through a process of pre-leaching and roasting.

Maximilian Sali, CEO and founder of Defense Metals comments “We are pleased to have optioned this property for Defense Metals Corp. with years of work completed by the previous operator Spectrum Mining Corporation. The Company will continue to rapidly advance this project starting by sending a 30 tonne bulk sample to SGS labs where they will immediately begin analyzing and testing the bulk sample.”

The Company believes completion of the planned laboratory and pilot plant metallurgical test programs on the bulk sample will significantly advance the understanding and development of the Wicheeda rare earth element deposit through larger scale pilot plant scale validation of process metallurgy, generation of design quality data for engineering, and the production of REE product samples for potential offtake partners.

The Company also wishes to announce the appointment of Andrew Burgess to the board of directors and the resignation of Mr. Peter Dickie. The board wishes to thank Peter for his contribution to the Company.

Mr. Andrew S. Burgess, C.A., C.P.A.is a Chartered Accountant and a Certified Public Accountant. He is currently the CFO of Spectrum Mining Corporation. He is an experienced professional with more than 35 years accounting, finance and financial reporting experience with listed companies. Mr. Burgess has a broad base of experience with natural resource, service and industrial companies in the areas of general management, financial and management reporting, taxation, corporate reorganizations, investments, acquisitions, divestitures, equity and debenture financing, budgeting, investor relations and administration. He has extensive public company and IPO experience.


Notes for Resource Tables:

  • This Mineral Resource Estimate was prepared by Gary Giroux, P.Eng. in accordance with CIM Definition Standards and NI 43-101, with an effective date of November 26, 2018.
  • Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Inferred Mineral Resources havea high degree of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot beassumed that all or any part of an Inferred Resource will ever be upgraded to a higher category.
  • Mineral Resources are reported at a cut-off grade of 1.0% LREE (light rare element, sum of Ce, La, Nd and Sm %’s).
  • The cut-off grade includes the following considerations:
    • Metal prices of: Ce = US$6.10/kg; La = US$5.70; Nd = US$65.00; Nb = US$56.00; Sm = US$15.00;
    • Exchange rate of 0.77 US$:C$;
    • Concentrate production grades of: Ce = 21.0%; La = 16.5%; Nd = 4.6%; Nb = 0.5%; Sm = 0.2%;
    • Concentrate payable of 95%;
    • Hydromet refining charges of C$0.70/kg concentrate;
    • Offsite Transport costs of C$180/t;
    • No royalties.
  • The resources are constrained an economic pit shell generated using the following inputs:
    • Mining cost of C$3.25/t;
    • Waste mining costs of C$3.00/t;
    • Process Costs of C$35/t (includes $10/t for transporting from pit to mill);
    • G&A Costs of C$5/t
    • Process Recoveries: Ce = 82.5%; La = 84.6%; Nd = 83.8%; Nb = 57.0%; Sm = 83.8%
    • Overall pit slope angles of 45o.

Factors that may affect the estimates include: metal price assumptions, changes in interpretations of mineralization geometry and continuity of mineralization zones, changes to kriging assumptions, metallurgical recovery assumptions, operating cost assumptions, confidence in the modifying factors, including assumptions that surface rights to allow mining infrastructure to be constructed will be forthcoming, delays or other issues in reaching agreements with local or regulatory authorities and stakeholders, and changes in land tenure requirements or in permitting requirements.

Mineral Resource Details

The Wicheeda Mineral Resource was estimated by ordinary kriging (OK) of each variable within a three dimensional mineralization envelope (grade shell) modelled from a total of 14 drill holes cored in 2008 and 2009 containing 721 assays for light rare earth elements Cerium (Ce), Lanthanum (La), Neodymium (Nd), and Samarium (Sm) along with assays for Niobium (Nb). A combined 1% light rare earth grade was used to build the grade shell outlining the mineralised carbonatite body. Of the 14 drill holes provided, 12 intersected the mineralized carbonatite body.

Search ellipsoid orientation was based on variography which indicated, in all cases, there was insufficient data to disprove the assumptions of isotropy. A single nested spherical model was fit to all directions for each variable having a short range of 10 m, and long range ranging from 80 to 100 m for grade interpolation into 10 x 10 x 5 m blocks coded with the % below topography and % inside the mineralized solid.

All coefficients of variation for each variable were under 1 indicating no outliers were present and as a result no assay capping was applied. Sample lengths ranged from a low of 0.48 m to a high of 5.95 m with the majority of samples taken at 3 m intervals. With the exception of seven assays all assay lengths were within 3.0±1.5 m and as a result no compositing was done. The average of the nine bulk density samples, 2.96, was applied to the resource, assuming the specific gravity is equivalent to bulk density of t/m3 (tonnes/cubic- meter).

The Wicheeda Deposit Mineral Resources have an effective date of November 26, 2018. The independent qualified person for the estimate is Mr. Gary Giroux, P.Eng., an employee of Giroux Consultants Ltd., who is independent of Defence Metals Corp.

For additional information please refer to the Company’s recently filed National Instrument 43-101 Technical Report with respect to the Wicheeda Rare Earth Element Project (Effective Date December 17, 2018) filed on SEDAR at www.sedar.com.

Metallurgical Testing Details

During September 2018, Spectrum Mining Corporation received approval from the BC Ministry of Mines for a work permit to collect a 30 tonne bulk sample of rare earth mineralization from Wicheeda. Subsequently, BC based mining contracting company Minconsult Exploration Services was contracted to conduct the surface bulk sample blast trenching program and during October 2018 they successfully completed the collection of the 30 tonne rock sample.

Following receipt of the bulk sample at Lakefield, Ontario, SGS will commence initial feed characterization work (Phase 1a) on a 200 kg subsample including: chemical and mineralogical characterization, grindability, and laboratory flotation testing. The Company expects that approximately 20 kg of flotation concentrate will be produced through as a result of Phase 1a locked cycle flotation testing.

Feed Characterization will be followed by a program of bench-scale hydrometallurgical testing (Phase 1b) on the flotation concentrate designed to build on the results of prior work, developing a hydrometallurgical flowsheet through bench scale production of a mixed REE precipitate. Initial process route options under consideration include: Pre-leaching (to dissolve non REE carbonates), Acid Leaching (to maximize REEleaching), Caustic Conversion and washing (to facilitate “cracking” of REE minerals into acid soluble REEhydroxides), Impurity Precipitation testing (to remove gangue elements prior to recovering REE from solution), and Rare Earth Recovery testing (to precipitate an initial crude REE product).

Following the completion of Feed Characterization and bench-scale hydrometallurgical testing the Company plans to initiate large scale processing of the 30 tonne bulk sample to validate the established process in a pilot plant environment and generate design quality data for engineering.

It is expected that following completion of flotation (Phase 2) and hydrometallurgical (Phase 3) pilot plant work the Company plans to complete REE Separation testing (Phase 4) on the pilot plant produced mixed REE hydrometallurgical precipitate. Separation testwork is designed to produce separate LaCe, NdPr, and“heavies” Sm to Lu+Y streams which allow determination of metallurgical recoveries, confirm reagentconsumption, prove flowsheet operability and provide REE product samples for potential offtake partners.

The Wicheeda Property

The Property located approximately 80 km northwest of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is close to major infrastructure including power transmission lines, 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 and hosts several carbonatite and alkaline complexes among which the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) alkaline complexes contain the highest concentrations of Rare Earth Elements minerals.

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

A NI 43-101 technical report for the Property has been filed on SEDAR at www.sedar.com.

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.

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition, exploration and development of minerals, metals and elements commonly used in the protection of our nation and other nations abroad. Defense Metals Corp. trades under “DEFN” on the TSX Venture Exchange. The Company owns (i) prospective uranium claims in the Athabasca Basin, Saskatchewan totalling approximately 9,362.65 hectares; (ii) has an option to acquire 100% of the Wicheeda Rare Earth Element Project located in Prince George, British Columbia; and (iii) has an option to acquire 100% of the Lac Burge gold property locatedapproximately 215 km northeast of Val d’Or, Quebec.

Contact Information – For more information, please contact: Todd Hanas, Bluesky Corporate Communications Inc.
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, the Company’s plans for its properties/projects, bulk sample testing and results, metallurgical testing, 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 explorationactivities 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 developmentrisks, 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 uponthe Company’s history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated withfailure 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’sprospects, 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 Initial Mineral Resource Estimate for its Wicheeda Rare Earth Carbonatite Deposit, and Collection of 30 Tonne Surface Bulk Sample

VANCOUVER, Jan. 8, 2019 /CNW/ – Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V: DEFN) is pleased to announce completion of the Initial Inferred Mineral Resource Estimate and collection of a 30 tonne surface bulk sample with respect to the Wicheeda rare earth carbonatite deposit located approximately 80 km northeast of Prince George, north central BC.

The Mineral Resources comprises an Inferred Mineral Resource of 11,370,000 tonnes averaging 1.96% LREE (Light Rare Earth Elements) 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. Mineral Resources are summarized in Table 1-1 and the Company’s technical report titled “Wicheeda Rare Earth Element Project, British Columbia, Canada” is available on SEDAR at www.sedar.com.

The Company is also pleased to announce the completion of a 30 tonne surface bulk sample from the Wicheeda Deposit. Defense Metals plans to truck the 30 tonne bulk sample to SGS Canada Inc.’s Lakefield, Ontario metallurgical facility during January 2019 in anticipation of a multi-phase program of bench-scale metallurgical testwork preparatory to commissioning larger scale flotation pilot plant testing.

Bench-scale flotation and hydrometallurgical test work was previously completed on Wicheeda drill cores at the SGS Lakefield lab during 2010/2011. This work successfully developed a flotation flow sheet that recovered 83% of the (Rare Earth Oxide) and produced a concentrate grading 42% REO. Subsequent hydrometallurgical testing in 2012 on a 2 kg sample of the concentrate grading 39.7 % TREO (Total REO) produced an upgraded and purified precipitate that contained 71% TREO through a process of pre-leaching and roasting.

Maximilian Sali, CEO and founder of Defense Metals comments “We are pleased to have optioned this property for Defense Metals Corp. with years of work completed by the previous operator Spectrum Mining Corporation. The Company will continue to rapidly advance this project starting by sending a 30 tonne bulk sample to SGS labs where they will immediately begin analyzing and testing the bulk sample.”

The Company believes completion of the planned laboratory and pilot plant metallurgical test programs on the bulk sample will significantly advance the understanding and development of the Wicheeda rare earth element deposit through larger scale pilot plant scale validation of process metallurgy, generation of design quality data for engineering, and the production of REE product samples for potential offtake partners.

The Company also wishes to announce the appointment of Andrew Burgess to the board of directors and the resignation of Mr. Peter Dickie. The board wishes to thank Peter for his contribution to the Company.

Mr. Andrew S. Burgess, C.A., C.P.A.is a Chartered Accountant and a Certified Public Accountant. He is currently the CFO of Spectrum Mining Corporation. He is an experienced professional with

more than 35 years accounting, finance and financial reporting experience with listed companies. Mr. Burgess has a broad base of experience with natural resource, service and industrial companies in the areas of general management, financial and management reporting, taxation, corporate reorganizations, investments, acquisitions, divestitures, equity and debenture financing, budgeting, investor relations and administration. He has extensive public company and IPO experience.

Table 1 1: Inferred Resources for LREE

Factors that may affect the estimates include: metal price assumptions, changes in interpretations of mineralization geometry and continuity of mineralization zones, changes to kriging assumptions, metallurgical recovery assumptions, operating cost assumptions, confidence in the modifying factors, including assumptions that surface rights to allow mining infrastructure to be constructed will be forthcoming, delays or other issues in reaching agreements with local or regulatory authorities and stakeholders, and changes in land tenure requirements or in permitting requirements.

Mineral Resource Details

The Wicheeda Mineral Resource was estimated by ordinary kriging (OK) of each variable within a three dimensional mineralization envelope (grade shell) modelled from a total of 14 drill holes cored in 2008 and 2009 containing 721 assays for light rare earth elements Cerium (Ce), Lanthanum (La), Neodymium (Nd), and Samarium (Sm) along with assays for Niobium (Nb). A combined 1% light rare earth grade was used to build the grade shell outlining the mineralised carbonatite body. Of the 14 drill holes provided, 12 intersected the mineralized carbonatite body.

Search ellipsoid orientation was based on variography which indicated, in all cases, there was insufficient data to disprove the assumptions of isotropy. A single nested spherical model was fit to all directions for each variable having a short range of 10 m, and long range ranging from 80 to 100 m for grade interpolation into 10 x 10 x 5 m blocks coded with the % below topography and % inside the mineralized solid.

All coefficients of variation for each variable were under 1 indicating no outliers were present and as a result no assay capping was applied. Sample lengths ranged from a low of 0.48 m to a high of 5.95mwiththemajorityofsamplestakenat3mintervals. Withtheexceptionofsevenassaysall assay lengths were within 3.0±1.5 m and as a result no compositing was done. The average of the nine bulk density samples, 2.96, was applied to the resource, assuming the specific gravity is equivalent to bulk density of t/m3 (tonnes/cubic-meter).

The Wicheeda Deposit Mineral Resources have an effective date of November 26, 2018. The independent qualified person for the estimate is Mr. Gary Giroux, P.Eng., an employee of Giroux Consultants Ltd., who is independent of Defence Metals Corp.

For additional information please refer to the Company’s recently filed National Instrument 43-101 Technical Report with respect to the Wicheeda Rare Earth Element Project (Effective Date December 17, 2018) filed on SEDAR at www.sedar.com.

Metallurgical Testing Details

During September 2018, Spectrum Mining Corporation received approval from the BC Ministry of Mines for a work permit to collect a 30 tonne bulk sample of rare earth mineralization from Wicheeda. Subsequently, BC based mining contracting company Minconsult Exploration Services was contracted to conduct the surface bulk sample blast trenching program and during October 2018 they successfully completed the collection of the 30 tonne rock sample.

Following receipt of the bulk sample at Lakefield, Ontario, SGS will commence initial feed characterization work (Phase 1a) on a 200 kg subsample including: chemical and mineralogical characterization, grindability, and laboratory flotation testing. The Company expects that approximately 20 kg of flotation concentrate will be produced through as a result of Phase 1a locked cycle flotation testing.

Feed Characterization will be followed by a program of bench-scale hydrometallurgical testing (Phase 1b) on the flotation concentrate designed to build on the results of prior work, developing a hydrometallurgical flowsheet through bench scale production of a mixed REE precipitate. Initial process route options under consideration include: Pre-leaching (to dissolve non REE carbonates), Acid Leaching (to maximize REE leaching), Caustic Conversion and washing (to facilitate “cracking” of REE minerals into acid soluble REE hydroxides), Impurity Precipitation testing (to remove gangue elements prior to recovering REE from solution), and Rare Earth Recovery testing (to precipitate an initial crude REE product).

Following the completion of Feed Characterization and bench-scale hydrometallurgical testing the Company plans to initiate large scale processing of the 30 tonne bulk sample to validate the established process in a pilot plant environment and generate design quality data for engineering.

It is expected that following completion of flotation (Phase 2) and hydrometallurgical (Phase 3) pilot plant work the Company plans to complete REE Separation testing (Phase 4) on the pilot plant produced mixed REE hydrometallurgical precipitate. Separation testwork is designed to produce separate LaCe, NdPr, and “heavies” Sm to Lu+Y streams which allow determination of metallurgical recoveries, confirm reagent consumption, prove flowsheet operability and provide REE product samples for potential offtake partners.

The Wicheeda Property

The Property located approximately 80 km northwest of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is close to major infrastructure including power transmission lines, 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 and hosts several carbonatite and alkaline complexes among which the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) alkaline complexes contain the highest concentrations of Rare Earth Elements minerals.

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

A NI 43-101 technical report for the Property has been filed on SEDAR at www.sedar.com.

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.

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition, exploration and development of minerals, metals and elements commonly used in the protection of our nation and other nations abroad. Defense Metals Corp. trades under “DEFN” on the TSX Venture Exchange. The Company owns (i) prospective uranium claims in the Athabasca Basin, Saskatchewan totalling approximately 9,362.65 hectares; (ii) has an option to acquire 100% of the Wicheeda Rare Earth Element Project located in Prince George, British Columbia; and (iii) has an option to acquire 100% of the Lac Burge gold property located approximately 215 km northeast of Val d’Or, Quebec.

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, bulk sample testing and results, metallurgical testing, 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; * 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.

SOURCE Defense Metals Corp.
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CO: Defense Metals Corp. CNW 05:00e 08-JAN-19

DEFENSE METALS CORP. TO RESUME TRADING ON THE TSX VENTURE EXCHANGE

Vancouver, British Columbia – January 7, 2019: Defense Metals Corp. (formerly, First Legacy Mining Corp.) (the “Company”) (TSX-V: DEFN) is pleased to announce that, further to its news release dated December 21, 2018, regarding receipt of TSX Venture Exchange (“TSXV”) approval of the Company’soption agreement with Spectrum Mining Corporation dated November 22, 2018, the closing of an associated private placement and a change of name from First Legacy Mining Corp. to Defense Metals Corp., it will resume trading on the TSXV on January 7, 2019.

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition, exploration and development of minerals, metals and elements commonly used in the protection of our nation and other nations abroad. Defense Metals Corp. trades under “DEFN” on the TSXV. The Company owns (i) prospective uranium claims in the Athabasca Basin, Saskatchewan totalling approximately 9,362.65 hectares; (ii) has an option to acquire 100% of the Wicheeda Rare Earth Element Project located in Prince George, British Columbia; and (iii) has an option to acquire 100% of the Lac Burge gold property locatedapproximately 215 km northeast of Val d’Or, Quebec.

Contact Information – For more information, please contact: Todd Hanas, Bluesky Corporate Communications Inc.
Vice President, Investor Relations
Tel: (778) 994 8072

Email: todd@blueskycorp.ca

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States SecuritiesAct of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.

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, the Company’s plans for its properties/projects, comments regarding use of funds, the Acquisition, other statements relating to the 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 futureevents 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 otherapprovals required to conduct the Company’s planned exploration activities will be available on reasonable terms andin 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) thepossibility that future exploration, development or mining results will not be consistent with the Company’sexpectations; (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 toenvironmental 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 continuedexploration 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.

FIRST LEGACY MINING CORP. REPORTS 2018 ANNUAL GENERAL AND SPECIAL MEETING RESULTS

Vancouver, British Columbia – December 14, 2018: First Legacy Mining Corp. (the “Company”) (TSX-V: FLM) is pleased to announce that all matters submitted to the shareholders for approval as set out in the Company’s Noticeof Meeting and Information Circular, were approved by the requisite majority of votes cast at the annual general and special meeting of shareholders held on December 14, 2018 (the “Meeting”).

Shareholders, at the Meeting, re-approved the Company’s stock option plan; shareholders also approved theappointment of Morgan & Company, LLP as auditors of the Company for the ensuing year at the remuneration to be fixed by the directors. Furthermore, the following directors were elected by the shareholders: Max Sali, Craig Taylor, Richard Grayston, Peter Dickie, and Kris Raffle.

About First Legacy Mining Corp.

First Legacy Mining Corp. is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties.

Contact Information – For more information, please contact:

Todd Hanas, Bluesky Corporate Communications Inc. 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 release.

First Legacy Mining Corp. Enters into Option Agreement with Spectrum Mining Corporation to Acquire Rare Earth Element Project

VANCOUVER, Nov. 26, 2018 /CNW/ – First Legacy Mining Corp. (“First Legacy” or the “Company”) (TSX-V: FLM) is pleased to announce that it has entered into an arm’s length option agreement (the “Agreement”) with Spectrum Mining Corporation (“Spectrum”) dated November 22, 2018, pursuant to which First Legacy has the option (the “Option”) to acquire all of the issued and outstanding shares of Spectrum (the “Acquisition”), a private British Columbia incorporated company, that is the legal, beneficial and registered holder of a one hundred percent (100%) interest in and to six (6) mining claims located in the Cariboo Mining Division, British Columbia known as the Wicheeda Rare Earth Element Project (the “Wicheeda Property”).

First Legacy also announces that it intends to complete a non-brokered private placement (the “Private Placement”) of up to 1,200,000 flow-through common shares (“Flow-Through Shares”) of the Company at a price of $0.25 per Flow-Through Share to raise gross proceeds of up to $300,000. The Private Placement is subject to TSX Venture Exchange (“TSXV”) approval.

Highlights of the Proposed Acquisition

Pursuant to the Agreement, in order to exercise the Option and to maintain the Option in good standing, First Legacy must:

(a) incurexpendituresinrespectofthePropertytotaling$1,930,000asfollows:

  1. $680,000 w ithin 12 months of the date of TSXV approval (the “Effective Date”);
  2. an additional $625,000 within 24 months of the Effective Date; and
  3. an additional $625,000 within 36 months of the Effective Date;

(b) paytoSpectrumanaggregateof$370,000asfollows:

  1. $25,000 in cash (paid);
  2. $95,000 in cash within five (5) business days of the Effective Date;
  3. $50,000 in cash on or before the first anniversary of the Effective Date;
  4. $100,000 in cash on or before the second anniversary of the Effective Date; and
  5. $100,000 in cash on or before the third anniversary of the Effective Date;

(c) issuetoSpectrum:

  1. 200,000 common shares of the Company on the Effective Date; and
  2. $50,000 in common shares of the Company on or before the first anniversary of the Effective Date;

all of which such foregoing obligations of the Option above may be accelerated at the Company’s sole discretion.

Once First Legacy has fulfilled the foregoing obligations, the Company will have the right for a period

of 90 days thereafter, to exercise the Option (the “Exercise Period”) by written notice to Spectrum within the Exercise Period (the “Exercise Notice”). If the Company fulfills the foregoing obligations, and delivers to Spectrum the Exercise Notice within the Exercise Period, the Company shall forthwith: (a) issue to the shareholders of Spectrum (the “Vendors”) on a pro rata basis, such number of common shares of the Company equal to 49% of the aggregate of the following: (i) the issued and outstanding common shares of the Company at such time; plus (ii) the common shares of the Company to be issued to the Vendors; and (b) pay to the Vendors on a pro rata basis, a cash payment in the aggregate of $100,000.

In addition, pursuant to the Agreement, Spectrum will have the right to appoint a director to the board of directors of the Company, immediately following the next annual general meeting of First Legacy shareholders scheduled for December 14, 2018.

The Acquisition is subject to approval of the Vendors and the TSXV. The Agreement and the Private Placement are subject to the prior acceptance of the TSXV, as the Acquisition, if completed, will constitute a “Fundamental Acquisition” for the Company pursuant to TSXV Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets. The acceptance of the TSXV will require, among other things, the completion and filing of a National Instrument 43-101 technical report on the Wicheeda Property. First Legacy has engaged the services of Moose Mountain Technical Services of Cranbrook, B.C. to prepare the NI 43-101 technical report. Trading in the common shares of the Company has been halted in accordance with the policies of the TSXV and will remain halted until such time as all required documentation has been filed with and accepted by the TSXV and permission to resume trading has been obtained from the TSXV.

In connection with the Agreement, First Legacy has entered into a finder’s fee agreement (the “Finder’s Agreement”) with Mulgravian Ventures Corporation (“MVC”) in consideration for services in introducing the Company to Spectrum, pursuant to which MVC shall receive consideration of 400,000 common shares (the “Finder’s Shares”) of the Company if the Agreement is approved by the TSXV and such number of common shares that is equal to 1.5% of the common shares of the Company that are issued to the Vendors if the Acquisition closes. The Finder’s Shares are subject to TSXV approval and will be subject to a four month hold period.

The Wicheeda Property

The Wicheeda Property located approximately 80 km northwest of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is close to major infrastructure including power transmission lines, railway and major highways. Geologically, the Wicheeda 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 and hosts several carbonatite and alkaline complexes among which the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) alkaline complexes contain the highest concentrations of Rare Earth Elements minerals.

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

Further information about the Wicheeda Property and its proposed exploration and development will be disclosed in a National Instrument 43-101​​ — Standards of Disclosure for Mineral Projectstechnical report.

Name Change

In connection with the approval by the TSXV of the Agreement, the Company intends to change its name to “Defense Metal Corp.”. In conjunction with the proposed name change, the Company’s share capital would be issued under new CUSIP/ISIN numbers and the trading symbol is expected to change to “DEFN”. The proposed name change and symbol change are subject to the acceptance of the TSXV.

Senior Technical Advisor

First Legacy is pleased to announce that it will retain Chris Graf as a senior technical advisor after the Agreement is approved by the TSXV. Mr. Graf is currently a director of Spectrum. Mr. Graf was born in Cranbrook, B.C. and graduated with a B.Ap.Sc. degree in geological engineering from the University of British Columbia in 1974. He has been registered as a Professional Engineer with the Association of Professional Engineers of British Columbia since 1980.

Mr. Graf has successfully applied his profession for the past 40 years, conceiving and conducting mineral exploration programs in British Columbia, Alberta, Yukon and northern Mexico. His forte has been mineral property evaluation, field exploration and diamond drilling. Mr. Graf was a director of the BC and Yukon Chamber of Mines during the 1990’s when the provincial NDP were in power. During his tenure he was very involved in the Chamber’s Aboriginal Affairs and Environmental/Park committees trying to mitigate the NDP’s overly ambitious land use policies that were largely negative for mineral exploration in BC. In 2011, Mr. Graf was the recipient of the Chamber’s Frank Woodside Past Presidents Award for distinguished service to the Minerals Industry.

The scientific and technical information contained in this news release 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 First Legacy Mining Corp.

First Legacy Mining Corp. is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.

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 the Property, comments regarding use of funds, the Acquisition, the annual general meeting, other statements relating to the financial and business prospects of the Company, name change, the Private Placement, 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; * 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, 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. SOURCE First Legacy Mining Corp.

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CO: First Legacy Mining Corp. CNW 19:45e 26-NOV-18

First Legacy Mining Corp. Announces the Acquisition of Additional Mineral Claims in the Athabasca Basin

VANCOUVER, Nov. 14, 2018 /CNW/ – First Legacy Mining Corp. (the “Company”) (TSX-V: FLM) is pleased to announce that it has signed an agreement to acquire two mineral claims totalling approximately 8129.80 hectares located in the Athabasca Basin in Saskatchewan, Canada, known as the “Klaproth and Klaproth East Claims” (the “Property”) by issuing 1,800,000 common shares and paying $10,000 in cash to the two arm’s length vendors (the “Vendors”) of the Property. The acquisition of the Property and the issuance of the common shares are subject to TSX Venture Exchange approval. The common shares to be issued to the Vendors will be subject to a four month hold period from the date of issuance.

“We are excited by the positive momentum being shown in the uranium sector, with the uranium spot price reaching 30-month highs. We are pleased to be adding to our project portfolio in the northeastern Athabasca Basin, and with this acquisition it will bring our total land package to over 23,000 acres.” commented Max Sali, CEO and Director of the Company.

The scientific and technical information contained in this news release 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 First Legacy Mining Corp.

First Legacy Mining Corp. is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties.

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, statements that address the acquisition of the Property and the issuance of the common shares, and other statements relating to the business prospects of the Company.

Forward-looking statements or information 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 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 regulationsmaybecomemoreonerous; (vii)thattheCompanymaynotbeabletoraiseadditional 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; * 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.

There can be no assurance that economic resources will be discovered or developed at the Company’s projects. Accordingly, actual results may differ materially from those currently anticipated in such statements.

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, 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.

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 release.

%SEDAR: 00042886E

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

CO: First Legacy Mining Corp. CNW 05:00e 14-NOV-18