VANCOUVER, BC, Sept. 7,
2022 /CNW/ - Defense Metals Corp. ("Defense
Metals" or the "Company") (TSXV: DEFN) (OTCQB: DFMTF)
(FSE: 35D) is very pleased to announce it has entered into a
Mineral Exploration Agreement (the "Agreement") with the
McLeod Lake Indian Band regarding its Wicheeda Rare Earth Element
("REE") exploration project located 80 kilometres northeast of
Prince George, Canada.
The Agreement addresses the immediate interests of the parties
with respect to mineral exploration activities related to the
project, and puts into place a framework for communication and
cooperation going forward. In addition to providing McLeod Lake
Indian Band with meaningful input into how these activities are to
proceed, the Agreement provides current economic opportunities for
the community and establishes a roadmap for potential future
commercial involvement as the exploration activities advance.
"We are delighted to have the McLeod Lake Indian Band engaged
with Defense Metals and the opportunities presented by the Wicheeda
exploration project," said Craig
Taylor, CEO of Defense. "We look forward to building
a long-term and mutually beneficial relationship with the
McLeod Lake Indian Band through the implementation of this initial
agreement."
"McLeod Lake Indian Band has always been open to working with
companies that respect our rights, laws and interests in the
protection of our lands, and that provide meaningful economic
and commercial opportunities for our community," said Chief
Harley Chingee. "We are therefore
pleased to have completed this initial agreement with Defense
Metals, and look forward to its successful
implementation."
About McLeod Lake Indian
Band
McLeod Lake Indian Band is part of the Tse'khene group of
Aboriginal peoples. The main community of McLeod Lake Indian Band
is located near the unincorporated village of McLeod Lake, approximately 150 kilometers
north of Prince George.
About Defense Metals
Corp.
Defense Metals Corp. is a mineral exploration and development
company focused on the acquisition, exploration and development 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,
Canada. Defense Metals Corp. trades in Canada on the TSX Venture Exchange under the
symbol "DEFN", in the United States, under "DFMTF" on the
OTCQB and in Germany on the
Frankfurt Exchange under "35D".
For further 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.
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 Company's plans for its Wicheeda REE
Project, the expected outcomes and benefits of the Agreement with
the MLIB, 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 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 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/defense-metals-signs-mineral-exploration-agreement-with-mcleod-lake-indian-band-301619269.html
SOURCE Defense Metals Corp.