VANCOUVER, BC, Jan. 17, 2022
/CNW/ - Defense Metals Corp. ("Defense Metals" or the
"Company") (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) announces
that it is reinforcing its leadership team, following the (100%)
acquisition of the Wicheeda Rare Earth Element (REE) Property.
The Company has made the following additions to the Management
Team and Board of Directors, as follows:
- Appointment of Dr. Luisa Moreno
as President of Defense Metals.
Dr. Moreno was first nominated to the Board of Directors on
October 25th 2021 and
going forward she will be President and Director of the Company.
Dr. Moreno is a Physics Engineer, with a Ph.D. in Materials Science
and Mechanics from Imperial College London, in the United Kingdom. She has held positions as
Senior Analyst, at Toronto based
investment banks and as an Investment Research Analyst at a global
investment research firm. She is known as a leading analyst in rare
earths and strategic minerals specialist.
Currently, Dr. Moreno is the Chief Executive Officer of Graphano
Energy Ltd. and the Managing Director of Tahuti Global Inc., a
company that she founded. As a strategic consultant she has
assisted both public and private companies and institutional
investors with economic and technical assessments of mineral assets
and technologies. She also works with government institutions
tasked with mineral development, value addition and supply chain
development. Dr. Moreno is also on the board of directors of
several companies developing strategic minerals and green
technologies.
- Nomination of Dr. William Bird
to the Board of Directors.
Dr. William H Bird has a unique combination of business
credentials and mineral-industry expertise and has a broad
experience as officer and independent director for publicly traded
mineral-resource companies. For instance, he was the CEO of two
publicly traded rare earths companies. He also has a solid academic
and research experience. He began his career as a mineralogist with
the Anaconda company's Extractive Metallurgical Research Division,
where he worked directly with Anaconda's worldwide exploration,
mine, and metallurgical personnel to solve mineralogical problems.
At the University of Colorado, Dr. Bird
taught ore mineralogy and microscopy. At Colorado State University, he taught general
mineralogy. His research has generally dealt with the mineralogy
and ore deposits of precious, base, and minor metals. As a
consultant and a company executive, he managed projects involving
industrial, ferrous, precious, minor, and base metals. Recently, he
has focused on developing low-cost, long-term supplies of the
rare-earth elements.
Concurrent with his appointment, the Company has granted
incentive stock options to Dr. Bird to purchase up to 300,000
common shares of the Company at a price of $0.22 per common share for a period of three (3)
years. The options fully vested on the date of grant.
Craig Taylor, CEO of Defense
Metals commented:
"With the recent completion of
a positive and robust PEA, and 100% acquisition of the Wicheeda
Project, Defense Metals is entering into a new phase of
development, and we are delighted to have the extensive rare earth
expertise of Dr. Moreno as President and Dr. Bird as a Director. As
President Dr. Moreno's unique combination of capital markets and
strategic minerals specialization will be invaluable as the broader
market recognizes the significance of the Wicheeda REE project in
the context of North American and global critical minerals
space."
About the Wicheeda REE Property
The 2,008 hectare Wicheeda REE Property, located approximately
80 km northeast of the city of Prince
George, British Columbia, is readily accessible by
all-weather gravel roads and is near infrastructure, including
power transmission lines, the CN railway and major highways.
Geologically, the property is situated in the Foreland Belt and
within the Rocky Mountain Trench, a major continental geologic
feature. The Foreland Belt contains part of a large alkaline
igneous province, stretching from the Canadian Cordillera to the
southwestern United States, which
includes several carbonatite and alkaline intrusive complexes
hosting the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE)
deposits.
Qualified Persons
The scientific and technical information contained in this news
release as it relates to the Wicheeda REE Project has been reviewed
and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and
Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and
a "Qualified Person" as defined in NI 43-101. Mr. Raffle
verified the data disclosed which includes a review of the
analytical and test data underlying the information and opinions
contained therein.
About Defense Metals Corp.
Defense Metals Corp. is a mineral exploration company focused on
the acquisition of mineral deposits containing metals and
elements commonly used in the electric power market, defense
industry, national security sector and in the production of green
energy technologies, such as, rare earths magnets used in wind
turbines and in permanent magnet motors for electric vehicles.
Defense Metals owns 100% of the Wicheeda Rare Earth Element
Property located near Prince George,
British Columbia, Canada1. Defense Metals Corp.
trades in Canada under the symbol
"DEFN" on the TSX Venture Exchange, in the United States, under "DFMTF" on the OTCQB
and in Germany on the Frankfurt
Exchange under "35D".
_____________________
|
1 Independent Preliminary Economic
Assessment for the Wicheeda Rare Earth Element Project, British
Columbia, Canada, dated January 6, 2022, with an effective date of
November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is
filed under Defense Metals Corp.'s Issuer Profile on SEDAR
(www.sedar.com).
|
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.
Cautionary Statement Regarding "Forward-Looking"
Information
This news release contains "forward–looking information or
statements" within the meaning of applicable securities laws, which
may include, without limitation, statements relating to, advancing
the Wicheeda Property, the Company's plans for its Wicheeda
Property, and expected results and outcomes, the technical,
financial and business prospects of the Company, its project and
other matters. All statements in this news release, other than
statements of historical facts, that address events or developments
that the Company expects to occur, are forward-looking statements.
Although the Company believes 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 materially from those in the forward-looking
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 rare earth elements, the anticipated costs
and expenditures, the ability to achieve its 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. Such forward-looking information reflects
the Company's views with respect to future events and is subject to
risks, uncertainties and assumptions, including the risks and
uncertainties relating to the interpretation of exploration
results, risks related to the inherent uncertainty of exploration
and cost estimates, the potential for unexpected costs and expenses
and those other risks filed under the Company's profile on SEDAR at
www.sedar.com. 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. 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, adverse weather and climate conditions, failure to
maintain or obtain all necessary government permits, approvals and
authorizations, failure to maintain community acceptance (including
First Nations), risks relating to unanticipated
operational difficulties (including failure of equipment or
processes to operate in accordance with specifications or
expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters), risks relating to inaccurate geological and
engineering assumptions, decrease in the price of rare earth
elements, the impact of Covid-19 or other viruses and diseases on
the Company's ability to operate, an inability to predict and
counteract the effects of COVID-19 on the business of the Company,
including but not limited to, the effects of COVID-19 on the price
of commodities, capital market conditions, restriction on labour
and international travel and supply chains, loss of key employees,
consultants, or directors, increase in costs, delayed drilling
results, litigation, and failure of counterparties to perform their
contractual obligations. The Company does not undertake to update
forward–looking statements or forward–looking information, except
as required by law.
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SOURCE Defense Metals Corp.