Defense Metals Showcases Rare Earth Leadership in European Trade Mission Led by Canadian Government [Accessibility Statement] Skip NavigationVANCOUVER, BC, Feb. 24, 2026 /PRNewswire/ - Defense Metals Corp. ("Defense Metals" or the "Company") (TSXV: DEFN) (OTCQB: DFMTF) (FSE:35D), a company focused on the development of the Wicheeda Rare Earth Project ("Wicheeda Project"), located near Prince George, British Columbia, Canada, is pleased to announce its participation in a strategic European trade delegation l ...

Core Insights - Defense Metals' Wicheeda Rare Earth Element Project has been selected as one of three promising projects by the British Columbia Critical Minerals Office for their Advanced Project Initiative, indicating strong governmental support and recognition of the project's potential [1] Group 1: Project Selection and Support - The Wicheeda Project will receive early coordination support from the B.C. Critical Minerals Office, which aims to assist in the regulatory process and environmental assessment [1] - Projects are selected based on criteria such as relationships with local First Nations, geological potential, project readiness, and commodity type [1] - The initiative reflects the province's acknowledgment of the project's advancement and its potential contribution to the critical minerals sector in British Columbia [1] Group 2: Company Overview and Future Plans - Defense Metals is focused on developing the Wicheeda Rare Earth Element Project, which is one of the most advanced undeveloped rare earth deposits in North America or Europe [1] - The company aims to become a reliable supplier of critical rare earths essential for modern defense systems, advanced manufacturing, and energy-efficient technologies [1] - The Wicheeda Project's Pre Feasibility Study (PFS) indicates strong economic potential, supporting future project development [1]

Core Insights - 2025 has been a transformative year for Defense Metals Corp, focusing on advancing the Wicheeda Rare Earth Project and strengthening its leadership and financial position in response to increasing global demand for secure rare earth supply [2][8] Leadership and Governance - The company enhanced its leadership and governance framework, with Mark Tory formally becoming President and CEO, and further strengthening the Board and senior management team to support the next phase of development [3] Project Development - A major milestone was the completion of the Pre-Feasibility Study (PFS) for the Wicheeda Project, confirming it as the only undeveloped rare earth project in North America and Europe with proven mineral reserves, highlighting its strategic importance [4] - Preparatory work has commenced to advance toward a Definitive Feasibility Study (DFS), targeted to begin in early 2026 [4] Financial Position - Defense Metals completed multiple private placement financings, including an oversubscribed C$16.2 million financing, which strengthened the balance sheet and provided funding for metallurgical optimization and engineering studies [5] - Insider participation in these financings was significant, with directors and senior officers investing alongside institutional shareholders, reflecting strong confidence in the company's strategy [6] Stakeholder Engagement - The company advanced engagement with Indigenous partners and government stakeholders, receiving ongoing support from the McLeod Lake Indian Band and constructive dialogue with federal and provincial authorities [7] - A Letter of Interest from Export Development Canada (EDC) regarding potential project financing of up to US$250 million was received, subject to customary conditions [7] Future Outlook - Looking ahead to 2026, Defense Metals is well positioned to advance the Wicheeda Project, pursue strategic partnerships and offtake opportunities, and continue disciplined capital management [8]

Core Viewpoint - Primary Hydrogen Corp. is advancing its permitting activities for the Wicheeda North REE project in British Columbia and has announced a corporate change regarding its Vice President of Exploration [1][3]. Permitting Update - The Company submitted its Notice of Work application for Wicheeda North on August 1, 2025, which is currently in the consultation process with First Nations as per British Columbia regulations. The completion of this process is anticipated in early Q1 2026 [2]. - Following the necessary approvals, the Company plans to engage drilling contractors to execute a maiden drill program at the project [2]. Project Significance - Wicheeda North is viewed as a significant opportunity for the Company to engage in the growing rare earth element sector, particularly due to its proximity to Defense Metals' advanced Wicheeda deposit, which has a NI 43-101 compliant Measured and Indicated Resource of 29.3 million tonnes grading 2.27% Total Rare Earth Oxide (TREO) [3][5]. - Historical exploration has identified multiple geophysical and geochemical targets at Wicheeda North, which supports the exploration strategy based on the latest interpretations of REE mineralization [6]. Corporate Change - The Company announced the departure of Peter Lauder, P.Geo., from his role as Vice President, Exploration, acknowledging his contributions to the Company's exploration initiatives [3]. - The Company will utilize internal resources and qualified third-party contractors for the upcoming drill program at Wicheeda North [3]. Project Overview - The Wicheeda North Project consists of nine contiguous mineral claims covering 2,138 hectares (21.1 km²) located in the northern Cariboo Mining Division, British Columbia, within a region known for REE mineralization [4]. - The project is situated approximately 5 km northwest of the Wicheeda Rare Earth Element Deposit, which has significant resources [5].

Core Insights - Defense Metals Corp. is advancing the Wicheeda Rare Earth Project with support from the Canadian Government and the McLeod Lake Indian Band, highlighting the importance of critical minerals for Canada's economic future and clean technology transition [1][2][3] Government and Indigenous Support - The Canadian Government has confirmed its support for Defense Metals to continue its permitting and development strategy for the Wicheeda Project, following a meeting between the CEO and Indigenous leaders [2] - The partnership with the McLeod Lake Indian Band is emphasized as central to the responsible advancement of the project, aiming to create economic opportunities while respecting Indigenous land and values [4] Project Significance - The Wicheeda Project is positioned to significantly contribute to the domestic supply of rare earth elements, which are essential for electric vehicles, renewable energy systems, and national security technologies [3][4] - With rising global demand for rare earth elements, the project represents a strategic opportunity for Canada to enhance its critical minerals supply chain and attract investment [4] Project Accessibility and Infrastructure - The Wicheeda Project is located approximately 80 kilometers northeast of Prince George, British Columbia, and is accessible via paved highways and all-weather roads, with proximity to power and transport infrastructure [6]

Core Insights - Primary Hydrogen Corp. has identified two significant rare earth element (REE) anomaly clusters at its Wicheeda North REE Project in British Columbia [1] Group 1: Project Overview - The company completed a 401 line-kilometre airborne VTEM and magnetic survey covering an area of 25 square kilometres [1] - A total of 533 new soil samples were collected, increasing the total property-wide samples to 1,234 [1] - The identified high-priority REE anomaly clusters are located in the Grid A-South and Grid D-South areas [1] Group 2: Exploration Advancements - The company has applied for drilling and trenching permits to advance its exploration program [1] - The Wicheeda North Project is situated 5 km from Defense Metals Corp.'s Wicheeda deposit, which has a resource of 29.3 million tonnes at 2.27% total rare earth oxides (TREO) [1]

Core Insights - Defense Metals Corp. has appointed Ali Mahdavi as Senior Vice President of Corporate Development to enhance investor relations and corporate opportunities [2][4] - The company is advancing its Wicheeda critical minerals project, which is positioned favorably amid increasing global focus on critical minerals and rare earth elements [2][5] - A total of 2,675,000 incentive stock options have been granted to employees and directors, allowing them to purchase shares at C$0.30 each for five years [3] Company Developments - Ali Mahdavi brings over 30 years of experience in the capital markets, particularly in the rare earth industry, and has previously held senior roles in other companies [2] - The Wicheeda project is located on an 11,800-hectare site in British Columbia and has completed a Preliminary Feasibility Study demonstrating robust economics [5][6] - The project is strategically accessible via major transportation routes, including proximity to hydro power and gas pipelines, enhancing its logistical advantages [6] Management and Strategy - The company emphasizes the importance of recognizing and incentivizing its management team to support the development of the Wicheeda project [4] - The addition of high-caliber staff in finance, sustainability, governance, and corporate development is part of the company's strategy to strengthen its operations [4]

Core Viewpoint - Defense Metals Corp. is advancing its Wicheeda Rare Earth Element project, which is positioned as the only REE project in North America with proven mineral reserves not yet in production, and is preparing for a Definitive Feasibility Study in 2026 [2][18]. Project Study Update - The company released a Pre-Feasibility Study (PFS) in May 2025, highlighting Wicheeda's status as the most advanced undeveloped REE project in North America and Europe [2]. - The company is conducting additional test work to optimize the plant configuration and metallurgical process flow, aiming to enhance economic benefits through downstream processing [3]. - Hatch Ltd has been engaged to determine the optimal location for the hydro-metallurgical plant, with considerations for various sites in Canada and the U.S. [4]. Relations with First Nation Partner - The company is collaborating with the McLeod Lake Indian Band, which is a key partner and shareholder, and has signed a Joint Co-Design Agreement to expedite the Wicheeda project [5]. Relations with Authorities - The company is in active discussions with Canadian and U.S. authorities regarding the project's significance for securing REE supply for electric vehicles and defense applications [6]. - The company has two grant applications under evaluation with the Critical Minerals Infrastructure Fund [7]. Strategic Partners & Financing - An MoU is in place with a potential strategic partner for a supply agreement covering a significant portion of planned output, with interest from downstream processors in North America and Europe [11]. - The company has received a Letter of Interest from Export Development Canada for potential debt financing of up to US$250 million to support Wicheeda's development [12]. - Following recent capital raises, the company is now debt-free with positive working capital [13]. Annual Meeting of Shareholders - The company announced the election of Maryanne Crichton to the Board of Directors, enhancing the board's expertise in mining and infrastructure [15]. About Defense Metals Corp. - Defense Metals Corp. is focused on developing its 100% owned Wicheeda REE property, which spans approximately 11,800 hectares and is located in British Columbia [16]. - The Wicheeda Project is strategically located near infrastructure, including hydro power and transportation routes, facilitating access to major ports [17]. - The recently completed PFS indicated robust project economics, with a pre-tax NPV of US$1.8 billion and an IRR of 24.6% [18].

Core Viewpoint - Neotech Metals Corp. has initiated its first exploration drilling program at the TREO Project in British Columbia, targeting high-grade mineralized zones to unlock the project's potential and establish its connection to the nearby Wicheeda Rare Earth deposit [1][7]. Group 1: Drilling Program Details - The initial drill program will focus on high-priority targets identified through regional sampling and mapping, aiming to confirm near-surface mineralized zones with bedrock grab samples showing up to 28.97% Total Rare Earth Oxides (TREO) and 2.91% Nb₂O₅ [2][3]. - Planned drill holes are strategically located to evaluate mineralized corridors within Neotech's mineral tenures and understand their relationship to the Wicheeda Rare Earth deposit [3]. Group 2: Company Overview - Neotech Metals is a mineral exploration company focused on discovering and developing mineral resources in promising jurisdictions, emphasizing environmental stewardship and sustainable practices [9]. - The company holds a diversified portfolio of rare earth element and rare metals projects, including the TREO Project and others in British Columbia, all of which are 100% owned [10].

Core Viewpoint - Defense Metals Corp. has entered into a shares-for-debt settlement agreement with Hatch Ltd. to settle outstanding debt related to engineering services, reflecting a strategic move to strengthen their partnership and advance the Wicheeda Rare Earth Element Project [1][5]. Group 1: Debt Settlement Agreement - The company will settle a total of $846,547.31 in outstanding payables to Hatch through the issuance of 5,290,920 common shares at a deemed price of $0.16 per share [2]. - In addition to the shares, the company will issue 2,645,460 common share purchase warrants to Hatch, allowing the purchase of additional shares at a price of $0.21 per share for 36 months [2][3]. - The pricing of the agreement aligns with previous fundraising efforts, adhering to regulations that allow a maximum discount of 25% [3]. Group 2: Future Collaboration - A side letter agreement indicates the company's intention to engage Hatch for engineering services related to a full feasibility study on the Wicheeda Project, contingent on reaching commercially acceptable terms [4]. - This collaboration aims to leverage Hatch's expertise as the company progresses towards full project development [4][5]. Group 3: Project Overview - The Wicheeda Rare Earth Element Project is a 100%-owned property covering approximately 11,800 hectares, located in British Columbia [6]. - The project is strategically positioned near infrastructure, including hydro power transmission lines and gas pipelines, facilitating access to major transportation routes [7]. - A recent Preliminary Feasibility Study demonstrated the robust economics of the Wicheeda Project, highlighting its potential for future development [7].