VANCOUVER, British Columbia , Sept. 26, 2024 /PRNewswire/ – Defense Metals Corp. (“Defense Metals” or the “Company”; (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is a Saskatchewan Memorandum of Understanding (“MOU”) with Research Council (“SRC”) to foster a collaborative and strategic approach to support the strengthening of Canada’s domestic rare earth element (“REE”) supply chain. bring profit.
Guy de Cellier, Executive Chairman of Defense Metals, commented:
“We are very pleased to be working with the Saskatchewan Research Council, a recognized leader in rare earth processing and technology development. By working with SRC, we can close the rare earth supply chain loop and free up these critical materials for green energy and defense applications essential to national security. We believe we can make great strides in ensuring availability. ”
The MOU outlines a framework for Defense Metals and SRC to leverage their respective capabilities and interests in the supply and processing of rare earth materials, which are particularly important for the production of rare earth magnets. The proposed objectives of this collaboration are:
Explore possibilities for collaboration that leverage each participant’s respective capabilities and interests in the processing and supply of rare earth products used in the rare earth magnet value chain. Leverage SRC’s separation technology design, installation, and operations expertise to enable discussions related to the separation of mixed rare earth carbonates in defense metals into separated rare earth oxides. Facilitate long-term contract negotiations with SRC for the purchase and sale of Defense Metals’ mixed rare earth carbonates.
This collaboration is consistent with the broader Canada Critical Minerals Strategy, which focuses on developing domestic industry, reducing dependence on foreign sources of critical mineral resources, and strengthening national security. Additionally, it supports North America’s broader goals of economic competitiveness and innovation in clean energy and defense technology.
About the Saskatchewan Research Council
SRC is Canada’s second largest research and technology organization, serving 1,400 customers in 22 countries around the world for more than 77 years.
Since 2020, SRC’s rare earth processing facility in Saskatoon has received $71 million in funding from the Government of Saskatchewan and a combined $30 million in funding from the Government of Canada. The funding helped build a vertically and laterally integrated “minerals-to-metals” facility with state-of-the-art proprietary technology developed by SRC. Development of the facility is ahead of schedule and will produce rare earth metals at commercial scale in summer 2024, making Saskatchewan the first and only jurisdiction in North America to do so.
About Defense Metals Corp. and its Wicheeda rare earth element deposit
Defense Metals Corp. is focused on developing its wholly-owned Wichida REE deposit, and its Mineral Resource Estimate is 2023 in a technical report prepared in accordance with the Canadian Securities Administrators’ National Instrument 43-101 Disclosure Standards. has been reported. Mineral Projects (“NI 43-101”). You can find it in our profile on SEDAR+ (www.sedarplus.ca) and on our website (www.defensemetals.com).
The 8,301-hectare (approximately 20,534-acre) Wicheeda project is located within the traditional territory of the McLeod Lake Indian Band in British Columbia, Canada, approximately 80 kilometers (approximately 50 miles) northeast of the city of Prince George and within easy driving distance. can be accessed. Paved highways and all-weather gravel roads. There is excellent infrastructure nearby, including hydroelectric power lines, gas pipelines, Canadian National Railways, and major highways that provide easy access to the port facilities of Prince Rupert, North America’s closest major port to Asia.
Defense Metals is a proud member of Discovery Group. For more information, please visit www.discoverygroup.ca.
For more information, please visit www.defensemetals.com or contact us below.
alex heath
Senior Vice President of Corporate Development and Interim CFO
Phone: +1 604-354-2491
Email: (email protected)
Neither 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.
Notice regarding estimation of mineral resources of Wichida rare earth deposit
The Mineral Resource Estimate for the Wichida Rare Earth Element (REE) Deposit is disclosed in the Technical Report for the Wichida Property, British Columbia, Canada, dated October 27, 2023, effective August 28, 2023. , this report was prepared. By APEX Geoscience Ltd. The 2023 MRE results have already been disclosed in summary form in our news release dated September 12, 2023. The technical report was prepared in accordance with the Canadian Securities Administrators’ National Instrument 43-101 Disclosure Standards. Mineral Projects (“NI 43-101”) and our profile can be found on SEDAR+ (www.sedarplus.ca) and our website (www.defensemetals.com). Readers are encouraged to read the technical report in its entirety, including all conditions, assumptions, and exclusions.
Notes regarding “forward-looking” information
This news release contains “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws. All statements in this news release, other than statements of historical fact, refer to events or developments that the Company expects to occur and are forward-looking. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. The content may differ significantly. Such statements and information are based on a number of assumptions regarding our current and future business strategies and the environment in which we will operate in the future, including the price of rare earth elements, anticipated costs and expenses, and our ability to achieve our goals. . General business and economic conditions are not materially adverse and financing is available on reasonable terms if needed. Such forward-looking information reflects the Company’s views regarding future events and is subject to risks and uncertainties associated with exploration and the interpretation of metallurgical results, as well as uncertainties inherent in exploration and development. It is subject to risks, uncertainties and assumptions, including risks, uncertainties and assumptions. Cost estimates, potential unanticipated costs and expenses, and other risks described in the SEDAR+ (www.sedarplus.ca/) Company Profile. Although such estimates and assumptions are considered reasonable by the Company’s management, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, general economic, market or business conditions, adverse weather and climatic conditions; including, without limitation, any failure to maintain or acquire. risks associated with unforeseen operational difficulties (failure of equipment or processes that do not perform in accordance with specifications or expectations; cost unforeseen events related to price hikes, labor shortages, materials and equipment, delays in governmental action or receipt of governmental approvals, industrial disruptions or other labor actions, and health, safety and environmental issues); inaccuracies; risks related to geological, metallurgical, engineering and pricing assumptions, the price of rare earth elements, the impact of viruses and diseases on the Company’s ability to operate, workforce and international travel, supply chain limitations and key employees. , loss of consultants, officers and directors, increased costs, delays in performance, litigation and failure of counterparties to perform their contractual obligations. The Company undertakes no obligation to update any forward-looking statements or forward-looking information, except as required by law.
SOURCE Defense Metals Corp.
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