VANCOUVER, BC, July 10,
2024 /CNW/ - Defense Metals Corp.
("Defense Metals" or the "Company"; (TSXV: DEFN)
(OTCQB: DFMTF) (FSE: 35D) is pleased to confirm support from the
Government of British Columbia in
the development of its wholly owned Wicheeda Rare Earth
Element Project.
"Rare earth elements play a crucial role in green technologies
like wind turbines and electric vehicle motors, and projects such
as Wicheeda are integral to BC's critical minerals strategy and the
world's energy transition," said Josie
Osborne, Minister of Energy, Mines, and Low Carbon
Innovation. "The BC Critical Minerals Office will bring significant
benefits to the Wicheeda Project and others like it by providing a
'concierge-like' service with dedicated support to navigate
regulatory processes, advance funding opportunities, and expedite
solutions to issues."
Craig Taylor, CEO of Defense
Metals commented, "This crucial support from the provincial
government is very significant and most welcome as it will enable
the development of our Wicheeda rare earth deposit by mitigating
regulatory and permitting delays. This, combined with the solid
technical progress we have achieved, including extensive
metallurgical pilot testing and evaluation of samples by potential
third-party off-takers, reinforcing our confidence that we are on
track to meet our objective of commencing production in
2029."
Guy de Selliers, Chairman of the
Board of Defense Metals emphasised, "These positive developments
strengthen my belief that Defense Metals will become the first new
significant North American producer of NdPr, two of the most
essential rare earth elements."
About Defense Metals Corp. and its Wicheeda Rare Earth
Element (REE) Project
Defense Metals Corp. is focused on the development of its 100%
owned, 8,301-hectare (~20,534-acre) Wicheeda REE Project that is
located on the traditional territory of the McLeod Lake Indian Band
in British Columbia, Canada.
The Wicheeda REE Project, approximately 80 kilometres (~50
miles) northeast of the city of Prince
George, is readily accessible by a paved highway and
all-weather gravel roads and is close to infrastructure, including
hydro power transmission lines and gas pipelines. The nearby
Canadian National Railway and major highways allow easy access to
the port facilities at Prince
Rupert, the closest major North American port to
Asia.
Defense Metals is a proud member of Discovery Group. For more
information please visit: www.discoverygroup.ca.
For further information, please visit www.defensemetals.com
or contact:
Alex Heath
Vice President, Corporate Development
Tel: 1 604-354-2491
Email: alex@defensemetals.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 REE Project, the expectations and plans for the
Wicheeda REE Project, continued support from the B.C. government
for the Wicheeda REE Project, development and potential production
of the Wicheeda REE Project,the technical, financial and business
prospects of the Company, its project, goals 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 and
metallurgical results, risks related to the inherent uncertainty of
exploration and development and cost estimates, the potential for
unexpected costs and expenses and those other risks filed under the
Company's profile on SEDAR+ (www.sedarplus.ca). 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 or obtain 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 personnel,
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,
metallurgical, engineering and pricing assumptions, decrease in the
price of rare earth elements, the impact of viruses and diseases on
the Company's ability to operate, restriction on labour and
international travel and supply chains, loss of key employees,
consultants, officers or directors, increase in costs, delayed
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.