Defense Metals Files NI 43-101 Pre-Feasibility Study Technical Report for Wicheeda Project

Press Release

Vancouver, British Columbia – April 7, 2025: Defense Metals Corp. (“Defense Metals” or the “Company”; TSX-V: DEFN / OTCQB: DFMTF / FSE: 35D) is pleased to announce the filing of an independent Pre-Feasibility Study (PFS) technical report (the “Report”) for its 100% owned Wicheeda Rare Earth Element Deposit, located near Prince George, British Columbia, Canada. The effective date of the report is February 28, 2025.

The potential of the Wicheeda rare earth element deposit to drive regional prosperity and contribute to global supply chains is underscored by comments from Chief Harley Chingee and Honourable Minister Jagrup Brar.

Chief Harley Chingee of the McLeod Lake Indian Band commented:

“The positive economic outcomes from the Pre-Feasibility Study of the Wicheeda Project affirm our position and established commitment to supporting its success. We look forward to continued collaboration with Defense Metals as we move forward together, creating long-term economic opportunities and sustainable benefits for the McLeod Lake Indian Band and contributing to the prosperity of the wider regional economy.”

BC Minister of Mining and Critical Minerals, Honourable Jagrup Brar, added:

“The Government of British Columbia is pleased to see Defense Metals making significant progress with the Wicheeda rare earth deposit. We understand that the project has the potential to become a significant global supplier of rare earth elements and we welcome the work that Defense Metals is doing to advance their project. Our government is committed to improving permitting timelines and processes across the Province.”

The Report, prepared in accordance with the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101), supports the findings disclosed in the Company’s February 18, 2025 news release titled “Defense Metals – Robust Economics from Wicheeda Rare Earth Deposit PFS.” Since that news release, the rare earth elements evaluated in the Report, expanded from the four key elements, Nd, Pr, Dy and Tb, to all those present at in the final mixed rare earth carbonate product. The resulting changes in mineral resources and mineral reserves and financial outcomes are within 3.5% of the previous announcement and are not considered material differences. The Report updates all technical and financial information on the Wicheeda Rare Earth Element Deposit and supersedes the information presented in the February 18 news release.

The complete Report has been filed on SEDAR+ and is also available on the Company’s website at (www.defensemetals.com). The Report can also be viewed on SEDAR+ within the Company’s profile at www.sedarplus.ca. We encourage readers to review the Report in its entirety, including

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all assumptions, risks, exclusions, and qualifications as individual sections may not fully convey the necessary context.

Mark Tory, President and CEO of Defense Metals remarked;

“The detail and quality of the Report is due to the work of renowned global experts Hatch and SRK and supporting group of consultants. I would like to thank them all for the time and effort that has been put into this comprehensive Report.”

The Company’s Interim CFO and SVP Corporate Development, Alex Heath, has resigned from his role to pursue other opportunities. Defense would like to thank Alex for his contributions and wish him every success in his future endeavours. Ryan Cheung (previous CFO of the Company) will act as CFO until a replacement is appointed.

About Defense Metals Corp. and its Wicheeda REE Deposit

Defense Metals Corp. is advancing its wholly-owned 11,800-hectare (~29,158-acre) Wicheeda Project situated on the traditional territory of the McLeod Lake Indian Band in British Columbia, Canada.

The Wicheeda 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 strategically located port facilities in Prince Rupert.

For further information, please visit www.defensemetals.com or contact:

Mark Tory
President and CEO
Tel: +1 604-445-8179
Email: mark@defensemetals.com

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